Cameron Pink

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Cameron Pink Recruitment assists New India Assurance with recruiting a Financial Controller

Background:

New India Assurance, headquartered in Mumbai, is the largest nationalized general insurance company with a global presence. Despite its vast scale, New India’s UK operations are relatively small. To bolster its financial leadership in the London office, New India required a Head of Finance on a permanent basis. This critical role, reporting directly to the executive team, was vital for maintaining financial stability and ensuring regulatory compliance. To navigate the complexities of this recruitment, New India engaged Cameron Pink, a recruitment firm with whom they had a longstanding relationship.

Challenges

Size Discrepancy: While New India is a major player globally, the UK branch operates on a smaller scale. This dichotomy posed a challenge in attracting candidates who might prefer roles in larger, more established UK firms.

  • Salary Constraints: The initial salary bracket did not fully reflect the extensive responsibilities of the role, which included traditional financial management, auditing, and a substantial compliance component.
  • Broad Role Scope: The position required a diverse skill set, covering a wide range of duties from financial oversight to compliance, making it challenging to find a suitable candidate willing to take on such a broad role within the offered salary range.

 

Cameron Pink’s Strategy

 

  • Advisory Role: Cameron Pink advised New India on the likely challenges and the types of candidates who might be attracted to the role due to renumeration. They highlighted that the ideal candidates might come from comparable but not specific backgrounds, those with international experience seeking to develop UK regulatory market exposure or junior candidates looking to fast-track their careers.
  • Adjusting Expectations: Upon Cameron Pink’s advice, New India adjusted the salary slightly to better align with market expectations, making the role more attractive to potential candidates.
  • Targeted Search: Cameron Pink leveraged their extensive network and industry knowledge to search within the newly agreed parameters. They focused on candidates who had something to gain by applying for the role, be it learning about UK compliance and regulation, a desire to work in insurance (coming from another financial services firm) or an ambitious junior professional eager to rapidly enhance their skill set who would appreciate the breadth of the opportunity and how it could advance their knowledge faster than other positions.

Outcome

Within two weeks, Cameron Pink provided a shortlist of six candidates. New India had a selection of applicants from different backgrounds to interview and were able to appoint a suitable candidate within four weeks of initiating the search. This swift and effective recruitment process underscored the value of working with a trusted recruitment partner.

 Conclusion

This case study demonstrates the importance of collaboration between a hiring company and a recruitment firm. Cameron Pink’s ability to identify and address recruitment challenges, advise on realistic adjustments, and pitch the opportunity effectively to candidates was crucial. Their tailored approach ensured that New India could fill a critical role efficiently, highlighting the need for a strategic and flexible recruitment process in navigating complex hiring landscapes.