Any Banking/Financial Services HSMP Applicants ?

Raghu · Post by **Raghu** » Fri Nov 12, 2004 7:23 pm

Hi,

I am keen to know more from those in Banking/Financial Services on their experience in the UK on the job search front.

I am extremely sure of getting the HSMP but just not sure on the employment part .... it would be great if members with similar backgrounds could share their experience.

Cheers,
Raghu

tgs · Post by **tgs** » Fri Nov 12, 2004 8:48 pm

What type of work in financial services?

Risk Management ?
IT in Banking
Financial advisors ?

There is shortage of Quantitative analysts in the UK.

lightpace · Post by **lightpace** » Sat Nov 13, 2004 4:36 pm

this is actually an area of interest.. awhile back i was going through jobsite.co.uk's website and there were quite a number of vacancies from Natwest. wouldn't know how easy it would be for an hsmp holder to clinch one of those

tgs would u know what sort of qualifications are required in the UK under risk management?[/quote]

Raghu · Post by **Raghu** » Sat Nov 13, 2004 6:01 pm

Well I was more keen on opportunities in Asset Management/Private Banking/Institutional Banking - Sales/Marketing related.

Looks like one really can't get a job in UK unless you actually move there.... as I am given to understand there is more supply than demand in the areas I am keen on.

try-one · Post by **try-one** » Sat Nov 13, 2004 6:31 pm

There are two aspects regarding the banking world in the UK:
1. If you are not in the UK is highly unlikely that they will invite you to an interview. You have to be one in a million and they would have to be in a big problem to even considering you.
2. If you don't have the proper documentation, then recruiters will not consider you. HSMP is a tricky thing, because the 12 months renewal, many banks prefer not to take risks.

A few years ago the "City" was passing a really bad moment and they didn't trained or hired anyone in the back office and core operations, now banks are having a golden era and they don't have enough people, they are either training employees to give them more responsabilities or even outsourcing some services, so there are many opportunities for someone who is available and entitled to work. 12 months are not really that much, you might want to get some experience working in low / entry level jobs during the initial 12 months ( don't bring your family, reduce your daily cost and survive) after you renew the HSMP you will have the UK experience, 3 years HSMP and a clear idea of who to target, plus you might meet someone willing to lend you a hand...

zeke · Post by **zeke** » Sat Nov 13, 2004 11:16 pm

That sounds like very realistic and sage advice, Try-One.

try-one · Post by **try-one** » Sun Nov 14, 2004 8:13 am

I hope it works, it has been my personal experience so far, an acording to some posts by people they share the same experience. The best thing is to try and play by the market rules.
It is better if HSMP holders have a start up plan and reduce the chances of failure.....

tgs · Post by **tgs** » Sun Nov 14, 2004 10:14 am

lightpace wrote:this is actually an area of interest.. awhile back i was going through jobsite.co.uk's website and there were quite a number of vacancies from Natwest. wouldn't know how easy it would be for an hsmp holder to clinch one of those

tgs would u know what sort of qualifications are required in the UK under risk management?

[/quote]

If you have the skillset that a bank requires, then you will get the job. My experience is that they worry about the Work permit later. If you can do the job and you the best/very good then they will offer you a job. Being the best can be hard. It is the agencies that are concern about work permits. The big banks have a lot of foreigners from over the world working for them (ultimately they pick the cream/cherry), so they know how to deal with the HO (HSMP makes it easier). The good agencies know what HSMP is. When you tell them you on HSMP, they stop to worry. Any agency who does not know what HSMP is, probably is not good at recruitement and does not know the job market, as there are a lot of HSMP holders in the UK.

If you can do quatitative work, ie. got Ph.D/M.Sc in some numerical disicipline (Physics, Computer Science, Statistics or Mathematics) you have a good change of getting a job as quatitative analyst. See http://www.cityjobs.co.uk for some requirements. Also if you have good knowledge of Financial markets (derivatives, hedge funds, etc) you also stand a good change of getting a job.

Also if you have Basel II experience you also stand a very good chance. Some of the smaller banks/Building societies outside London are having a hard to find quatitative skillset to implement Basel II. If you can build score cards you also in good demand.

The traditional banking jobs (Asset Management/Private Banking/Institutional Banking - Sales/Marketing ) - there are not plenty of them here. I recon there is enough Brittons here who can do the job.

tgs · Post by **tgs** » Sun Nov 14, 2004 10:53 am

try-one wrote:There are two aspects regarding the banking world in the UK
2. If you don't have the proper documentation, then recruiters will not consider you. HSMP is a tricky thing, because the 12 months renewal, many banks prefer not to take risks.

If you don't have proper documentation they won't look at you.

Some interviews that I went to didn't even ask me details about my work permit .

Banks are in the business of taking risks. If you can bring value to them they will consider you.

London is full of foreigners with jobs.

try-one · Post by **try-one** » Sun Nov 14, 2004 11:08 am

Tgs,
Excellent to see different experiences, in my case I could also go to interviews without the immigration situation beign discussed, no one asks me about it.....but I don't want to damage the relationship by saying that I need a work permit after they hired me, it is better to come clean at the start and avoid future problems and misunderstandings.
My wife for example has been required to provide copies of the WP each time she goes to see a recruiter.
so, I agree with you, you could "forget" to mention that you need a WP, or if you have a HSMP you ARE entitled to work here, in the WP case it is important for me to tell recruiters and employers, for HSMP is not relevant, as you ARE entitled to work here.

tgs · Post by **tgs** » Mon Nov 15, 2004 7:00 pm

try-one wrote:Tgs,
Excellent to see different experiences, in my case I could also go to interviews without the immigration situation beign discussed, no one asks me about it.....but I don't want to damage the relationship by saying that I need a work permit after they hired me, it is better to come clean at the start and avoid future problems and misunderstandings.
My wife for example has been required to provide copies of the WP each time she goes to see a recruiter.
so, I agree with you, you could "forget" to mention that you need a WP, or if you have a HSMP you ARE entitled to work here, in the WP case it is important for me to tell recruiters and employers, for HSMP is not relevant, as you ARE entitled to work here.

Actually at such interviews I bring up the topic and show them my HSMP VISA. So it is not a question of me forgetting about it.

Of course I would not go to interviews if I didn't not have the proper documentation. I will simply kill myself doing that.

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Any Banking/Financial Services HSMP Applicants ?

Any Banking/Financial Services HSMP Applicants ?