Dáil Éireann Debate, Thursday - 1 December 2016
144. Deputy Pearse Doherty asked the Minister for Finance if the Central Bank has experienced difficulty hiring in any of the areas of banks, insurance and funds and asset management; the reason for such difficulties since the vote on Brexit; and if he will make a statement on the matter. [38139/16]
View answerI am informed by the Central Bank that it can sometimes experience difficulties in hiring and retaining staff in certain areas simply because there is significant labour market competition for the types of skilled persons that it requires to effectively regulate and supervise financial services firms. The type of people and skills that the Bank requires are the same type of people and skills that regulated firms require to operate their businesses and this can present a challenge to the Bank.
However, the Governor has previously indicated that where further resources are necessary due to an expanded universe of regulated and supervised firms, the Bank has the ability to effectively re-prioritise where it needs to meet the increased level of demand and also to increase staff numbers as necessary.
