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Work in HR is governed by both people and processes. In a bank, you are dealing with all the quirks of individual employees, while you also must obey the laws governing recruitment and layoffs in your country. HR staff must check, for example, that there is no discrimination on the basis of gender or race in the recruitment process. They are also responsible for fairly selecting those who must be laid off.

In addition, HR teams are responsible for conducting annual performance reviews. These are important for positions in financial services because the results to reviews are an important factor in determining the size of employees' annual bonuses.

Although HR staff can cover many positions, most HR jobs are split into specialist categories. Some of these categories are employee relations, recruitment marketing, graduate recruitment, lateral recruitment, compensation and benefits professionals and jobs for people with training and development expertise.

Though banks and financial services firms can hire their own recruitment professionals working within the business, this sector also contains listings for our external recruitment jobs in financial firms, search firms and headhunters and RPO or recruitment process outsourcing organizations.

These external recruitment organizations make the recruitment process easier for the financial services firms that hire them. They may do things such as place advertisements, sort through applications, create short lists and conduct initial interviews, all to sort the wheat from the chaff before the firm gets involved. External recruitment consultants are typically divided into two categories: contingency recruitment firms and search firms or headhunters.

Contingency recruitment firms are only paid when they choose the professional actually hired by the client, while search firms and headhunters are paid a "retainer" or an upfront fee when they identify a number of potential candidates who may be appropriate for the job. Another difference is that while contingency recruitment firms usually advertise positions and wait for candidates to respond with applications, headhunters and search firms approach potential candidates themselves and tell them that they might suit a vacancy.