SOX News

Brightwater Report: Booming Irish Market for Business Analysts in the Financial Services Sector

(Dec 08, 2007)-- IT Business Analysts (BA) play a critical role in providing that edge by making a significant contribution to the technical direction of an organisation.As the corporate environment becomes more competitive, particularly within the financial services sector, companies are now looking for an edge over their competitors. IT Business Analysts (BA) play a critical role in providing that edge by making a significant contribution to the technical direction of an organisation. Now more than ever before, the Business Analyst is involved in more business facing roles involving the identification of opportunities where technology can help a company achieve its wider corporate goals.

Consequently, over the past five years there has been a huge increase in the number of companies in Ireland looking for experienced BAs. According to Brightwater, leading Irish Recruitment Consultants, in the last year alone there has been an increase of over 25% in total registered BA positions with the company and an increase of over 45% in contract BA requirements.

However, with this surge in demand a skill shortfall has been created and as a result experienced BAs are inordinately hard to find. In order to attract this high calibre of IT Professional, Brightwater has reported an increase of 20% in rates offered by companies in the last year alone.

The demand is particularly high for BAs with a solid financial background as a consequence of the changing regulatory environment within the sector. According to Luke Kelly, a Business Analyst within the sector, "The financial services sector is becoming more regularised due to the introduction of Sarbanes Oxley amongst other regularity control functions. More companies now mirror each other operationally therefore core business analysis skills are transferable across sectors. As companies strive to stay competitive, the value of structured methodologies which support business process engineering are becoming more recognised."

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