Michael McGrath (Cork South Central, Fianna Fail)
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181. To ask the Minister for Finance the number of vacancies that remain to be filled in the Central Bank; the length of times these vacancies have been open; the different departments these vacancies are in; if the Central Bank has communicated concerns on its ability to deal with the influx of firms resulting from Brexit; if the Central Bank is of the view they will lose vital staff as a result of the Brexit influx; and if he will make a statement on the matter. [45631/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am informed by the Central Bank that the Central Bank Commission approved additional complement for 2017 to circa 1,800 staff, which will be a target net increase of 200 staff on the total at end 2016.

This expansion included dedicated resources of an additional 28 staff to address specific Brexit-related new business needs within existing divisions. Of these 28 staff, 18 have been allocated to supervisory divisions to address specific Brexit-related new business needs within existing divisions.

Furthermore, at its recent June 2017 meeting, the Central Bank Commission approved an additional 36 resources principally to support increases in Brexit-related authorisation/supervisory activity, as well as to support extensions to the post crisis regulatory framework. The Central Bank has already redirected experienced resources to deal with Brexit related activity and are confident that our current recruitment campaigns will support us in having the requisite resources in place.

The Central Bank currently has 138 vacant roles with roles being filled on average within 9 weeks.  Theses vacancies are primarily in Financial Regulation and Financial Conduct Pillars.

The recruitment market remains challenging, and the potential for financial services firms relocating to Ireland pre/post Brexit will create further competition for talent. The Central Bank’s overall offering to staff compares favourably in the employment market, which is reflected in the 2016 attrition rate of 6.2%, with similar levels expected for 2017. The Central Bank continues to monitor turnover levels on a continuous basis to understand any trends emerging.

Furthermore, the Governor has previously indicated to me 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.