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Jersey Financial Sector Vacancies On The Rise

by Jason Gorringe, Tax-News.com, London

10 April 2013


Jersey Finance - the promotional agency for the island's financial services industry - has noted the findings of Jersey's latest Labor Market Survey, which has revealed that around a quarter of private sector vacancies that have yet to be filled are in the island's financial services sector.

The Survey shows that there is a total of 2,000 islanders seeking work, with 500 vacancies in the island's financial services sector. Jersey Finance identified that although the results suggest a skills gap is emerging, the results are a positive indicator of the strength and growth potential of the industry.

Jersey Finance highlighted its involvement, with a number of other agencies, in supporting the Government in developing the local skills base. Several initiatives have been implemented to provide support and training for the unemployed, to introduce a locally-facilitated degree qualification in financial services, as well as comprehensive financial services education in Jersey schools.

As well as working closely with Careers Jersey, Skills Jersey, Highlands College and the Jersey International Business School, Jersey Finance has reported a growing amount of engagement from its member financial services firms. In March this year, Jersey Finance in partnership with Back to Work ran an induction day for their Advanced Admin/Finance scheme where ten member firms took part in hosting organizational tours, running sector talks and mock interviews.

To further develop the island's financial sector education strategy, a new report has been commissioned to inform the future direction of Jersey's policy on education and training.

Commenting, Geoff Cook, the Chief Executive Officer of Jersey Finance, said: "It’s a challenging environment for all businesses in terms of job creation, so the fact that there are a number of vacancies currently available within the finance industry should be seen as an opportunity by keen job seekers who have the right attitude and who are prepared to learn new skills. In fact, the anecdotal evidence from firms is that in terms of jobs available, the landscape is very positive, with a broad range of junior and experienced roles on offer."

"The expertise and specialist skills of its workforce have long been the foundation of Jersey’s finance industry and this will continue to be the case. With many firms having re-structured their operations as a result of the financial downturn, there is now a collaborative focus from government and the industry, particularly on school leavers and graduates, to ensure the next generation has the right skills for an evolving industry."

TAGS: environment | Finance | tax | business | training | law | financial services | international financial centres (IFC) | Jersey | offshore | education | services

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