Business Irish

Sunday 21 September 2014

Over 130 vacancies at Central Bank, more than half in regulation sector

Ailish O'Hora

Published 05/06/2014 | 10:25

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The Central Bank has been called on to tackle the issue of consumers being sold the wrong type of mortgage protection insurance
The Central Bank has been called on to tackle the issue of consumers being sold the wrong type of mortgage protection insurance

THERE are 72 vacancies in the Central Bank's regulation division, new figures reveal.

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And there are a total of 133 vacancies at the bank,  according to figures released by Minister for Finance Michael Noonan in response to a Dáil question from Fianna Fáil's finance spokesman, Michael McGrath.

Mr Noonan added that he has been informed that the bank has a recruitment target of 10 weeks from the time a vacancy arises until a candidate is offered a job. 

A breakdown of the figures shows that 50 offers have been made for the 133 vacancies and 27 have so far been accepted by candidates.

In the regulation area there are currently 72 vacancies for which 34 offers have been made, and in central banking there are 20 vacancies for which six offers have been made and in Operations 37 roles for which 10 offers have been made.

The remaining 4 vacancies are at senior management level and in the investor compensation division.

Mr McGrath said today that the vacancies are concerning considering the need for strong regulation in the sector.

"At a time when there is a need for a robust system of Central Bank supervision of the economy and strong regulation of the financial sector, it is very worrying to have 133 positions unfilled in the Central Bank."

"In addition to these vacancies, the Central Bank and other specialist State agencies such as NAMA seem to have a high turnover of staff at a senior level.

"This could potentially have a negative impact on the quality of work such bodies do for the country.'

Mr Noonan added that as Minister for Finance, he has no role in the employment of staff in the Central Bank.

This is done by the Central Bank Commission which also defines the resourcing needs across the organisation.

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