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Sunday 19 November 2017

Wanted now: two more €100,000-a-year experts

Laura Noonan

Laura Noonan

NAMA is gearing up to appoint its most senior "planning and development" executive and an insolvency expert -- jobs likely to pay well over €100,000 a year.

Both posts are being advertised on the toxic loan agency's website, along with seven other new roles at NAMA's Dublin base.

A spokesman last night declined to give any guidance on the salaries on offer, or on whether they will "increase or reduce" NAMA's average salary, which stood at about €200,000 last year.

The planning chief must have "a minimum of 15 years' professional experience" and will report directly to NAMA's head of portfolio management, making it a very senior appointment.

Responsibilities include providing "planning and development advice that will ensure optimisation of the value of NAMA's property portfolio" and assessing the planning aspects of developers' business plans.

NAMA's clients include scores of developers who are still holding greenfield or half-built sites. A key challenge for the agency will be deciding which can be profitably completed and which should be jettisoned.

"While a number of the portfolio managers have planning and development experience, NAMA is now moving to recruit a specialist in this field who will oversee the agency's activities in this regard," a spokesman confirmed.

The other jobs on offer from NAMA include three bank analyst roles; a business analyst; market risk analyst; senior credit and market risk analyst and support officer.

The rapidly expanding agency has already hired 14 people this year, bringing total staff numbers to 113. The aim is to have about 150 staff by the end of the year, but the goalposts for NAMA's work are still changing.

When the bailout was announced, NAMA was asked to handle an extra 20,000 smaller development loans, something that would have required more manpower.

This week's Programme for Government now calls for those 20,000 loans to be kept out of NAMA -- but the bailout partners may not agree to this about-face.

NAMA's staff are all employed by the National Treasury Management Agency, which offers individually tailored salary packages that it refuses to publicly divulge.

Chief executive Brendan McDonagh has publicly clashed with politicians over this non-disclosure, while also being criticised over his own €430,000 salary.

Irish Independent

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