eFinancialCareers

A series of meetings this week made it startlingly clear that a good recruitment consultant can be worth his weight in gold, and a bad one can lead to abject depression. Last week, I met four of them, two of whom offered genuine support and two of whom who were clearly continuing to play in the band as the good ship credit started to slip beneath the waves.

Let’s focus on what the good guys did right. In the first case, I spoke to the credit specialist at the headhunting firm in question and had a brief discussion to explain my current circumstances. We both bemoaned the state of the credit market; I arranged to meet him and sent over my CV.

Less than half an hour later I got a call back from the credit guy who explained that he had taken a look at my CV and discussed the possibility of me moving into an alternative (ie, non-credit) space with his colleague. The next day, the non-credit guy ran a number of alternative directions past me; I felt he was really listening and understood how he could take my skill set and apply it somewhere else.

Later that day I got a call from him saying that he had spoken to someone on the commodities side who could be interested in looking at me. I am not naïve enough to believe that this one opportunity will definitely lead to me getting back into the market, but one thing is for sure, in this market someone who is willing to take the time and really consider your strengths and explore a variety of scenarios is an extremely strong ally.

So what did the bad guys do wrong? Their main failing was extreme lethargy. Having summoned me all the way over to the City for a conversation with their ‘consultants’, their only pronouncement was that credit was dead and we’d all be going home early. You’d think they might reinvent themselves, but this seems as likely as Gordon Brown dying his hair purple.

Back to the middle office?

On a separate topic, I’ve begun to mull over an option that I’ve been keeping in reserve: the middle office.

I have years of experience in risk management and product control, both of which appear to be standing up comparatively well in the current environment. In particular, it seems a number of firms are looking for people on a contract basis, keeping headcount off the books and strengthening risk and oversight functions.

Why am I hesitant? Well, it took me years to get out of the middle office, so the idea of going back and becoming trapped doing a job I frankly hated fills me with dread.

I’ve been considering going back on a contract basis but keeping any mention of it off my CV, therefore preventing the stigma that accompanies so many middle-office roles. Just the thought of it makes me sigh, but needs must when the devil drives.