Case Studies: Financial Services
New Market Expansion
Banking —
A client banking partner was opening an LPO in a new market in St. Louis, Missouri. The task was to fill 2 Commercial Lender positions, 1 Banking Center Manager and 1 Mortgage Banker.
Protis and the client banking partner entered into an Engaged Agreement to fulfill the project. The first action item was the immediate step of filling the Senior Commercial Lender position. The process of filling this role was necessary prior to the subsequent hiring of the other 3 positions. The recruiting plan was presented with In Market candidates.
An immediate search plan was activated utilizing Protis experienced team of Commercial Banking specialists. The implemented plan included the recruitment of only qualified candidates within a commutable radius. Additionally, the client banking partner wanted to fill the open positions with personnel that had both a chemistry and cultural fit to their organization.
The results of this project speak for themselves. The positions were successfully filled within 3 months of the start of the project. The interview-to-hire ratio was 2.6:1, well below that of industry standards. More importantly, the expectations of the bank were exceeded.
The client banking partner was so pleased with the results of this project, it has continued to turn to Protis for their hiring needs. In fact, Protis has continued to place 5 additional positions with the organization since this project was completed.
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Most Difficult Search Test
Banking —
A new banking client was interested in utilizing Protis' permanent placement services on an engaged assignment basis. Prior to committing to the full scope of their needs, the client bank wanted to test the waters with Protis to judge how Protis would perform under difficult search criteria.
The company is a diversified financial services organization headquartered in the Midwest and holds $95 + billion in assets. A super regional bank, this client presently operates 17 affiliates and nearly 1000 full service banking centers.
The client bank requested that Protis initially work on 8 of their most difficult searches. This project included 5 different titles including, Retail Broker, Commercial Lender, Asset Based Lending, Private Banker and Foreign Exchange positions. As these positions were the bank's most difficult searches, this project would test Protis' capabilities to deliver the talent the bank specified in their requirements.
Protis' banking team began working on the project with an immediate search plan for a geographical area that included Indianapolis, Indiana and Fort Wayne, Indiana.
The project encompassed a 14-week period. Twenty-one interviews resulted in 9 hires, one of which was outside the original scope of the project. One additional hire was made for the 8 open positions because of the high-caliber talent presented. These metrics returned an exceptional interview -to-hire ratio of 2.33:1.
The immediate results netted an additional 7 engaged positions with the client bank. Many of the original candidate's interviewed that were not originally hired in the first engagement were interviewed for these positions. Since this time, Protis has been hired in different geographies for the client bank including a project for 20 positions in Chicago, Illinois, 12 positions in Evansville, Indiana, 5 positions in Louisville, Kentucky and 5 more for Central Ohio for a total of 54 engaged assignments.
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