Recruiting for a hard-to-fill role during a global pandemic
For two years, our Fintech client had been trying to fill a vacancy for a global senior leader. As they needed an individual with extensive experience and the role was located away from the usual centres of excellence, our client had been unable to find a suitable candidate.
Our recommendations helped changed the remit and we were able to find an excellent employee who fitted their needs.
At a glance: our client
Industry
Fintech
Service
Talent search
Business size
Enterprise
Target Country
USA
What we achieved for them
6 working weeks
to fill the role, ending a two-year search
The ideal candidate
for a niche role in a challenging location
£35,000+ cost saving
vs traditional recruitment agency fees
Challenge
Seeking the perfect candidate at a challenging time in a difficult location
Our client, a leading Fintech company, had been searching for a Global Head of Enterprise Risk Management for two years. The role was proving difficult to fill for a number of reasons.
The role was very senior, reporting to the Chief Risk Officer, and therefore the successful candidate needed 10 years’ experience in risk management in an enterprise-size business. They also needed to be familiar with the regulations which cover the fintech market. Our client also wanted to ensure a diverse pool of candidates from a location known for its lack of diversity.
The role was based in a different US state from the usual locations for this type of position. While this meant there were few competitors nearby, location talent was limited. The successful candidate could relocate, however the location was not appealing to many prospects.
The coronavirus pandemic added a further layer of complexity to the search, as many prospective candidates were reluctant to consider a job change amidst so much uncertainty.
Solution
Finding the ideal person from a very limited talent pool
We worked closely with our client to discuss their requirements and challenge their perceptions. Our client had initially wanted to focus on individuals with a pure fintech background. We recommend that we changed this to financial services and technology as this would significantly widen the talent pool while still ensuring that the candidates had the necessary skills.
Our insights showed that the best target country for the search would be the US. At this time, the political backdrop in the country was such that most candidates would not consider relocating from outside the country. In addition, we recommended that the search would be local to our client’s location, as the likelihood of relocating was low.
We then mapped the market to find candidates who met our client’s criteria. We did this through original research and engaging with our networks. As these individuals needed experience, knowledge and seniority, the talent pool was small. In total, we were able to identify 35 people who met the requirements.
We then reached out to these prospective candidates to discuss their backgrounds and their interest in the role. At this stage, we qualified out a number of individuals who were either reluctant to change jobs at this time or who lacked the gravitas needed for a senior role in our client’s business.
In total, the details of 11 close-fit candidates were passed on to our client and from these, three were taken through to interview.
The successful candidate was a leader in his field, with experience in financial services and working in companies which were highly regulated. As his experience was gained outside pure fintech, without our recommendations to extend the search, this individual would not have been found.
He also fulfilled the client’s diversity requirements and had just relocated back to the state, so was happy to find the perfect role in his preferred location.
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Supporting clients with hard-to-fill roles
Our proactive approach, combined with our extensive experience, ensures that we target the ideal locations, talent pools and individuals. We are able to find new candidates that our clients have not seen, helping to fill roles that have been vacant for some time.
