The Central Bank of Ireland has a staff vacancy rate of 3 per cent, the Minister for Finance has said. In a written reply to Pearse Doherty, Sinn Féin's finance spokesman, Michael Noonan said 56 vacancies exist in the organisation.
All of them have been advertised and involve roles in 12 areas of the bank, including that of deputy governor following the resignation by Stefan Gerlach.
There are 22 vacancies in the Central Bank’s insurance institutions supervision department, including five roles as senior supervisor.
The bank is also seeking an economist, a media relations officer, a head of specialist resolutions unit, a bank supervisor, a human resources manager, a deputy head of enforcement, and an information security manager.
Attracting staff
A Central Bank spokeswoman said it had flagged the issues it faces in retaining and attracting staff on a number of occasions.
“While staff turnover remains comparatively low, it has been difficult to recruit and retain skilled staff in some areas. We are committed to recruiting high calibre staff who can assist us in delivering our regulatory mandate.”
She said the vacancies in its insurance directorate relate to the restructuring of the division and the introduction of new Solvency II rules .
“They are not considered a significant concern but a strengthening of our supervisory ability particularly in the area of analytics and onsite supervision.”
It emerged recently that the Central Bank had provided retention payments to certain staff over the past four years at a cost of €234,176. Some 29 employees are currently in receipt of these payments, which equate on average to 21 per cent of their salaries.
The bank did not seek Government approval for the payments, and insists they are not bonuses.
The union Unite disagrees with this, however, and has asked why only certain staff received the retention money.
The union has also asked the Central Bank’s new governor, Philip Lane, to show it the legal advice the bank has received on the controversial payments.
Mr Doherty said the vacancy figures were “alarming in a regulatory environment where banks are riding roughshod over consumers’ rights”.
“ Important roles like deputy head of enforcement division and senior IT audit manager have been vacant for a number of months.
“The Central Bank needs to be at full strength to fulfil its many important duties. Whatever issues exist that are delaying these appointments need to sorted out as soon as possible,” he said.
