Financial services 'needs accurate data'

The financial services industry needs well managed data in order to operate effectively, information storage professionals have been told.

Daragh O'Brien, former director of publicity and member of the International Association for Information and Data Quality, said that financial services firms need to be sure their data is accurate if they are to oversee their vast operations.

He pointed out that banks, insurance companies and other financial companies do not store 'piles of money' in their vaults and have to keep accurate records of where their investments are stored.

Mr O'Brien explained that firms which have access to high-quality data can make ensure their exposure to risk meets their corporate goals, adding: 'Poor-quality information drives decisions based on poor foundations, which can lead to businesses biting off more risk than they actually have appetite for.'

The expert also claimed that the recent the economic crisis was caused in part by a lack of transparency in financial data.

Last month, IT services firm Datanomic said that data validation is increasingly important to the financial services industry, as a number of regulations require firms to hold accurate information.

Technology 'to change face of recruitment'

New technologies such as mobile communications, social media and outsourcing will change the face of the recruitment industry in the coming years, it has been predicted.

The new Technology 2020 report, commissioned by the Recruitment and Employment Federation's (REC's) Technology Sector Group, claimed that eight emerging trends will affect how recruitment is carried out.

According to the research, the convergence of cloud computing, developments in data management, increasing demand for disaster recovery and the rise of green IT will change how recruiters work.

In addition, growth of social networks, the next generation of mobile communications, the popularity of unified communications and nano hardware are all important technology trends.

Kevin Green, chief executive of the REC, added: 'It is vital that the recruitment industry seriously reviews the far-reaching implications of the latest technological advances'

A recent report by IT industry analyst Gartner claimed that technology will be an essential element of businesses' plan to recover from the recession, which could create new IT jobs.

James Caan: Preparation is essential for interviews

IT job candidates should prepare as much as possible before being interviewed for a new position, one of the UK's leading entrepreneurs has suggested.

Writing in the Daily Telegraph, Dragons' Den star and businessman James Caan claimed applicants can follow a few simple steps, such as thorough research and good presentation, to give themselves an advantage over the competition.

'Preparation is the key to success. Research the company, but also find out who is interviewing you, as this is just as important. Learn their name, occupation and influence on the business,' he explained.

Mr Caan also said applicants should prepare answers to any questions the interview board could throw at them, recommending that they avoid having to think on their feet.

In addition, he wrote that body language is a major part of interview success and recommended candidates show good posture and a relaxed expression.

Mind consultant Dr Ali Binazir recently wrote on the Huffington Post that IT job applicants should attempt to appear confident when being interviewed.

IT 'essential for post-recession firms'

Technology will be a key part of companies' post-recession strategies, it has been suggested, which could be good news for those considering new IT jobs.

A report carried out by IT industry analyst Gartner said that firms will have to face a number of challenges as the economy recovers from the downturn, such as whether industries will return to normal.

The organisation claimed that IT will be essential in allowing firms to navigate these issues and permit them to become more efficient in the long term, which will lessen the impact of any future recessions.

Jorge Lopez, vice president and distinguished analyst at Gartner, added: '[Chief information officers] should build an IT culture of intolerance toward inefficiency and impatience for the gains from newer lighter-weight technologies such as social networking, virtualisation and mobile device apps.'

The report also said IT will be useful in helping companies to make financial savings and the extra money can be used to support their recovery from the recession.

Recent research from IDC predicted that global IT spending from small businesses is likely to grow by 5.5 per cent to $629.3 billion (£420 billion) from 2010 to 2014.

REC backs scrapping of national insurance rise

Plans by the Conservative Party to scrap the rise in national insurance contributions have been supported by the Recruitment and Employment Confederation (REC).

The Conservatives said if they were elected to power they will cancel the one per cent increase in employers' contributions, claiming it will leave seven out of ten workers better off.

Kevin Green, the chief executive of the REC, said the proposed rise will lead to a reduction in the number of staff taken on by UK firms, as their costs will increase for each additional worker.

'We welcome the attempts by the Conservative Party to cancel this rise for lower earners. We call on all political parties to actively look for incentives to get people into work, rather than putting up barriers to raising employment levels,' he commented.

Shadow chancellor George Osborne said the increase in employers' national insurance contributions will hold back the UK's recovery from the economic downturn and prevent new jobs from being created.

He also claimed that people earning between £7,100 and £45,400 a year will be up to £150 a year better off under his party's proposals.

Security appliance market 'to return to growth'

The western European market for IT security appliances looks set to improve in the coming months, it has been predicted, which could lead to new IT jobs.

Research from IT industry analyst IDC showed that the market recovered from the recession in the final quarter of 2009, with total factory revenue reaching $449.5 million (£300 million) - a decline of just 0.1 per cent from the same period in 2008.

Romain Fouchereau, research analyst at IDC, said the figures show the security appliance market in western Europe 'turned around' in the fourth quarter to achieve almost the same revenues as the previous year.

'On the back of those better than expected results in quarter four 2009, IDC anticipates the security appliance market to fully rebound over the coming quarters,' he added.

A recent poll by technology company Kaseya discovered 46 per cent of IT professionals believe security will be a pressing issue in 2010, as they expect managing an increasingly complex infrastructure and justifying IT expenditure to corporate boards to be the main challenges they face.

Budget videogame help 'was too vague'

It is unclear how the Budget will help the UK's computer game sector, an expert has claimed, which may interest those seeking new IT jobs.

In the Budget announcement earlier this week, chancellor Alistair Darling said that he will extend similar support to the British videogame sector as he did to the film industry.

Experts believe that this help could take the form of a tax credit, although Juan Mateos-Garcia, a creative industries researcher at the National Endowment for Science, Technology and the Arts (Nesta), pointed out that the speech did not go into detail about the plans.

'We believe it could have a significant impact, but it's in the details – it depends on how it is implemented and what the process for it is,' he commented.

Mr Mateos-Garcia also noted that the support will be extended to products and services which are 'culturally British', but said this is such a vague concept that it could lead to confusion.

Firms 'will embrace superfast internet'

The UK's businesses will reap great rewards from the rollout of superfast broadband, according to an expert.

Earlier this week, prime minister Gordon Brown said the government is committed to making high-speed internet access available to every home in the UK.

Commenting on the news, Eclipse Internet proposition manager Paul Richens said efforts need to focus on ensuring that areas which have poor broadband access, such as Cornwall, are brought up to par with the rest of the country.

He added: 'We shouldn't forget the possibilities this opens up for businesses. It's not just about saving money by allowing efficient home-working or reducing call costs.'

Mr Richens explained that the superfast internet will allow British firms to access a range of digital services and applications which are currently beyond their reach because of poor broadband speeds.

This month, the Department for Business Innovation and Skills announced the formation of Broadband Delivery UK to ensure every home in the country has connections of at least two Mbps by 2012.

Security worries 'holding back cloud computing'

Firms are reluctant to adopt cloud computing because it means they lose control of data but not the responsibility for it, it has been suggested.

Recent research by the Information Systems Audit and Control Association found that one-quarter of cloud computing users think the innovation's risks outweigh its benefits but continue to use it anyway.

The poll also showed that 33 per cent of companies have already deployed some form of cloud computing, but 35.6 per cent have no plans to use the technology.

Speaking at the Westminster eForum Keynote Seminar on cloud computing, Trend Micro senior security advisor Rik Ferguson said three-quarters of chief information officers are put off the technology because they are worried their data will not be well protected.

'When we consume cloud services we outsource a substantial amount of control but we don't outsource any accountability; we can't outsource any accountability,' he explained.

Mr Ferguson added that many IT professionals cite security as one of the advantages of the technology and said that this contradiction shows there is a 'disconnect' in how cloud computing is perceived by firms.

Budget 'was a mixed bag for recruitment'

The chancellor's Budget announcement contained a mixture of good and bad news for the recruitment industry, an expert has suggested.

Kevin Green, chief executive of the Recruitment and Employment Confederation, said that most agencies will welcome plans by Alistair Darling to increase access to finance and reduce the business rates applied to small and medium-sized companies.

However, Mr Green claimed the forecast of economic growth of under 1.5 per cent for the coming year is 'one of concern' and suggests recovery in the UK's employment market will be slow.

'Additional support and training measures announced by the Chancellor will not help unless we boost demand and lift barriers to job creation, such as excessive employment legislation and business taxation,' the expert added.

Mr Green suggested that the government should have scrapped its proposed increase in national insurance in light of these concerns, as it is effectively a tax on jobs.

In his Budget speech, Mr Darling announced a one-off £2.5 billion package to help small businesses, boost investment in national infrastructure and support key skills.

CVs 'should be tailored for each application'

IT job candidates should tailor their CV for each position they apply for, a newspaper has suggested.

An article in the Scotsman pointed out that many people draft one CV and use it when applying for every post they are interested in, but claimed employers disapprove of this approach.

The source recommended that applicants should use the objectives section of their resume to explain to potential employers why they are applying for the role, while all skills listed should be ones which are required for the job.

'Use exactly the same descriptions for skills, experience and qualifications as on the job ad or application guidelines, always cover the essential job skills, qualifications and experience and ensure that everything in your work history is clearly relevant,' the newspaper explained.

In addition, the news provider said that a well-designed CV will be no more than two pages long and structured so that the employer feels compelled to read the second page as soon as they complete the first.

Recently, the Careers Advice Service advised IT job applicants to make sure their CV is consistent when it comes to fonts, headings, paragraphs and bullet points, as this will help prevent it from looking sloppy.

Security 'still important in virtualised environment'

Firms which are deploying virtualisation should remain committed to security, IT engineers have been told.

A recent poll of chief information officers by network management firm Cisco discovered that virtualisation is ranked as one of the top priorities in corporate networking plans for the coming five years.

Respondents said their organisation is interested in the technology because it will save costs, space and energy, as well as being more flexible than physical servers.

However, Sunbelt Software malware researcher Chris Boyd said that IT engineers should not let these advantages blind them to the need for security when making the jump to the virtualised environment.

'The biggest issue with virtualisation is that many people treat it as a magic bullet security solution - in reality, it can be attacked just like anything else,' he continued.

In addition, Mr Boyd recommended a solid security framework is installed within a firms' virtual machine, so any threats contained within it do not spread to the real-world environment.

Recently, Core Security Technologies revealed that Microsoft's Virtual PC virtualisation application has a vulnerability which will allow hackers to avoid the security features on Windows.

Data centre industry 'to create new IT jobs'

The number of people employed in the data centre industry is likely to increase in the coming years, according to an expert, which could be good news for those considering new IT jobs.

Matt Munson, group technical director for BlueSquare Data, said that the demand for data centre services such as those supplied by his firm is increasing and this will lead to the creation of new jobs in the sector.

'A major job, which is probably around 30 per cent of our staff, is what's called a knock engineer - a knock engineer is basically a computer engineer working on shifts 24/7,' he added.

Mr Munson also claimed that IT outsourcing jobs could be on the increase in the sector, as companies are becoming more reluctant to set up their own data centre.

The expert pointed out that firms no longer want to finance the large-scale capital expenditure which is required for a new data centre and are looking to outsource their operations instead.

Recent figures from the Recruitment and Employment Confederation claimed that the number of workers in the market with IT skills is exceeding demand.

Small firms 'to modestly increase IT spending'

Worldwide small and medium-sized businesses (SMBs) are expected to increase their spending on IT in the coming years, which may interest those looking for IT jobs.

Technology market researcher IDC predicted that global IT spending from small firms is likely to grow by 5.5 per cent to $629.3 billion (£420 billion) from 2010 to 2014.

However, the organisation noted that this rise is less that it has previously forecast and said small companies' IT expenditure will not return to 2008's levels until 2011, despite a $17.4 billion increase being predicted for 2010 alone.

Ray Boggs, vice president of small/medium business and home office research at IDC, claimed that small businesses lost their ability and willingness to spend on IT because of the 'devastating' effect of the economic downturn.

'Small businesses will not follow the past pattern and return to pre-recession spending levels more quickly than midsize firms. Instead, SMBs of all sizes will remain cautious with their IT spending,' he commented.

Recently Patrick O'Brien, a senior analyst at Ovum, claimed that a growing number of businesses will attempt to cut costs in the economic recovery by using IT outsourcing.

Well-designed CVs 'essential to win IT jobs'

Taking the time to craft a well-designed CV can reap rewards for people seeking IT jobs, it has been suggested.

The Careers Advice Service said that committing common resume mistakes can create a bad impression with a potential employer and prevent an applicant from reaching the interview stage.

According to the group, one of the worst errors which a candidate can make is to allow spelling and grammar errors to appear on their CV, while sloppy formatting that has an inconsistent approach to fonts, headings, paragraphs and bullet points can be confusing.

'Get the length right. CVs are often too long with far too much information or too short with hardly any information at all. It should be two pages in length, maximum,' it added.

The Careers Advice Service also pointed out that all information on the CV should be revelant to the position and recommended resumes are crafted to meet the individual requirements of each vacancy.

Peter Panayotou, senior analyst at employment consultancy The Write Stuff, recently said that voluntary work and training can help to fill gaps in employment, which can look off-putting when on a CV.

UK to build space innovation centre

The government has unveiled plans to support the UK's growing space industry, which could create new IT jobs in the process.

Business secretary Lord Mandelson and science minister Lord Drayson announced that the £40m International Space Innovation Centre (ISIC) at Harwell will be created, with the Department for Business, Innovation and Skills' Strategic Investment Fund contributing £12 million to the project.

The centre will be based at the European Space Agency facility which opened last July and will become the main hub of the British space industry.

Lord Mandelson said that the space industry is worth £6 billion to the British economy and can be considered one of the country's success stories.

'Britain's space industry has defied the recession. It can grow to £40 billion a year and create 100,000 jobs in 20 years. The government's commitments on space will help the sector go from strength to strength,' Lord Drayson added.

Last month, a report by the Space Innovation and Growth Team claimed that the UK can achieve success in the manufacture of small satellites and capture ten per cent of the world's space market.

UK 'needs to keep investing in new jobs'

It is important that the UK continues to invest in new jobs to ensure the country successfully recovers from the recession, a senior government figure has claimed.

Work and pensions secretary Yvette Cooper applauded the fact that UK unemployment has fallen for the third month running and the number of young people claiming jobseeker's allowance has dropped for the fourth consecutive month.

However, Ms Cooper stressed the need for continued caution in the labour market and said the government and businesses need to make a sustained effort to improve Britain's employment conditions.

'We're not out of the woods yet and we are still determined to do more to support jobs and help the unemployed this year,' she commented.

The work secretary also claimed 500,000 less people are unemployed than was predicted in last year's Budget, showing the impact which investment in jobs, education and training places can have.

Last week, Kevin Green, the chief executive of the Recruitment and Employment Confederation, welcomed the news that UK unemployment fell by 33,000 between November and January.

He also said this shows that the country's job market is starting to show signs of stabilisation.

Employers 'were savvy during recession'

The country's employers have acted sensibly through the recession and helped to protect UK jobs, an expert has claimed.

Adrian Marlowe, chairman of the Association of Recruitment Consultancies, pointed out that companies tended to save money during the recession of the 1990s by laying off staff, which exacerbated the unemployment problem.

'What seems to have happened during this recession is that employers have been quite savvy and more sophisticated than they were during the last main recession,' he commented.

Mr Marlowe also suggested recruitment agencies played an important role in safeguarding employment during the economic downturn, as they made it easier for people to find work.

The expert added that a return to full employment in the UK will take some time, as the latest government figures show there are only 480,000 vacancies for 2.45 million unemployed people.

According to Office for National Statistics research, the number of unemployed people dropped by 33,000 in the three months to January, while the number of vacancies rose by 39,000.

Cameron calls for Agency Workers Regulations revoke

David Cameron has called for the Agency Workers Regulations 2010 to be revoked.

Last week, the leader of the Conservative Party has submitted an early day motion which asks for the regulations to be debated in the House of Commons.

Five other members of Mr Cameron's party supported the motion, including West Derbyshire MP Patrick McLoughlin and Jonathan Djanogly, member for Huntingdon.

Mark Prisk, MP for Hertford & Stortford, Weston-Super-Mare representative John Penrose and Rugby & Kenilworth MP Jeremy Wright are the other Conservatives adding their signatures to the motion.

The Agency Workers Regulations 2010 lay out how the European Union's Agency Workers Directive is to implemented in the UK and schedule the new rules to come into force in October 2011.

Last November, 60 Labour MPs signed an early day motion which called for the Agency Workers' Directive to be brought in sooner than planned.

The Recruitment and Employment Confederation responded by saying that it believes the directive should be introduced in 2011, as this will give the industry time to prepare adequately for the changes it entails.

Most software 'vulnerable to breaches'

Most pieces of software are vulnerable to large-scale hacking attempts, IT security consultants have heard.

Research carried out by Veracode found that 58 per cent of applications could be compromised by the attacks seen recently on organisations such as Google and the US Department of Defense.

The study examined almost 1,600 pieces of internally-developed, open source, outsourced and commercial pieces of software as part of its State of Software Security report.

It also showed that open source software is often stronger than commercial applications, as it tends to have comparable security features, fewer potential backdoors and faster remediation times.

Commenting on the study, Gartner fellow and vice president Joseph Feiman told IT security consultants 'to conduct their own inspection of all application code they procure from third-parties'.

Mark McLaughlin, chief executive of Verisign, recently told the BBC that cybercriminals are resorting to increasingly sophisticated and malicious attacks when trying to breach security systems.

Data fragmentation 'creates many problems'

Firms could use IT contractors to remedy data fragmentation, after an expert pointed out that this can create a number of problems.

Daragh O'Brien, former director of publicity and member of the International Association for Information and Data Quality, said that companies can find it hard to use data effectively if it is spread out across the organisation.

'Fragmentation of systems is a contributor to poor-quality information as it introduces issues of timeliness, integrity of data and the simple challenge of getting a single reliable answer to a question,' he explained.

Mr O'Brien added that IT contractors could find the financial services sector creates lots of opportunities for data defragmentation, as information quality, governance and management in the industry are coming under increased levels of scrutiny.

Data quality solutions provider Datactics recently claimed that a number of causes could create information fragmentation, with mergers and acquisitions, multi-divisional use and differently formatted source data from suppliers cited as possible reasons.

Preparation 'is key to a successful interview'

People going for a new IT job should prepare thoroughly before an interview, an expert has reminded candidates.

Writing on the Times Money blog, City Life Coaching director Jenny Ungless said that it is impossible to prepare too much for a job interview and recommended candidates research the firm, their competitors and the state of their whole industry.

Ms Ungless also wrote that applicants should be prepared to demonstrate they are what the employer is looking for by showing they can do the job, are willing to take it and can easily fit into their organisation.

People should end the interview by showing that they have an interest in the firm, with the expert advising: 'Prepare a couple of questions which show that you have researched the company and have a good understanding of its key issues.'

Mind consultant Dr Ali Binazir recently wrote on the Huffington Post that confidence can help IT job applicants to come across well in an interview.

Converged networks 'lose efficiency'

A single converged data centre network may not offer more efficiency than two separate systems, network engineers have been told.

New research by technology industry analyst Gartner refuted the opinion that converged networks need less cooling and power because they make use of fewer switches and ports.

The organistion claimed that the typical converged system will include more switches and ports than two well-designed, separate systems, increasing the need for more power and cooling if it is to work as effectively.

Joe Skorupa, research vice president at Gartner, said: 'The promise that a single converged data centre network would require fewer switches and ports doesn't stand up to scrutiny. This is because as networks grow beyond the capacity of a single switch, ports must be dedicated to interconnecting switches.'

He also pointed out that the converged networks often have hotspots of data congestion which creates problems for the whole company and are harder to debug as interactions between the LAN and SAN traffic make root cause analysis more difficult.

Recent research from IT analyst IDC claimed that large European organisations expect to increase their investment in data centre management in the next few years.

Jobs market 'showing signs of stabilisation'

New government figures show that the UK jobs market is starting to stabilise, according to recruitment experts.

The latest labour report from the Office for National Statistics (ONS) showed that UK unemployment fell by 33,000 between November and January to 2.45 million.

Commenting on the news, Kevin Green, the chief executive of the Recruitment and Employment Confederation (REC), said: 'These figures are good news and reinforce what recruiters have been saying for the last few months - that the UK jobs market has stabilised.'

However, he claimed that the ONS figures reveal that there is a rapid slowing in public sector jobs market, which could lead to problems if further cuts are made to achieve financial savings in the short term.

Earlier this week, the REC's Jobs Outlook survey found that 94 per cent of companies plan to maintain or grow their workforces in the coming year, while one-quarter expert to take on more agency staff.

Confidence 'good in interviews'

Approaching an interview with confidence can help applicants to secure a new IT job, it has been suggested.

Writing in the Huffington Post, mind consultant Dr Ali Binazir recommended that candidates speak aspirationally when they are being interviewed by a potential employer.

The expert admitted that people should highlight their past achievements and provide examples which demonstrate their relevant skills and experiences.

'However, don't let yourself be limited by that. What puts you over the top is your ability to provide a picture of the magnificent things you will be doing for the company,' he added.

Dr Binazir also advised people to let the company try to sell itself during the interview by asking questions which show they are deciding whether they want to work for the organisation or not.

Preparing in advance was another tip suggested by the consultant, who wrote that listing all the questions an interviewer could ask and rehearsing their answers will lead to confident replies.

Author James Borg recently wrote in the Daily Telegraph that people should demonstrate good body language when being interviewed.