Vanguard Quickly Plugs Gap With 2-for-1 CASS Compliance Talent!

Vanguard is a global investment management company that offers a wide selection of investments, advice, and retirement services. The company also provides insights for individual investors, institutions, and financial professionals. 

The Compliance Team Problem for Vanguard

Vanguard urgently needed a CASS Governance and Controls Specialist for its’ CASS compliance team. One person had left the team and needed to find a replacement quickly. The staff shortage was causing significant problems for the compliance team.

The team was 50% short on covering the company’s CASS compliance requirements. This shortage was causing stress for the team. Only the essentials, such as the critical regulatory components, were attended to. However, “nice to haves” were put aside.

Vanguard’s internal human resources team covers hundreds of roles across the company portfolio. Most of the HR team are generalist recruiters. This challenge makes it more difficult for the company to fill niche roles.

Vanguard’s HR team initially tried to fill the CASS Governance and Control Specialists position before using external recruiters. The team had tried for several weeks without success to fill the role.  

Also, Vanguard’s work setup is hybrid, and the role requires a certain number of days in the office. This stipulation had proved challenging for candidates and other recruiters. 

The Specialised Solution for CASS Positions

Chloe Curtis, the CASS and Governance Control Manager at Vanguard, gained internal approval to use a specialised recruiter to fill the vacancy. Chloe contacted Gareth at Kohort Recruitment to help them find the right candidate.

Gareth and Chloe had been in contact before, and she knew of his expertise, knowledge, and network in CASS. For example, Gareth had access to specific industry contacts for CASS. Additionally, he had a deep technical understanding.

She decided to work with Gareth because he was well-known in the industry. Chloe had this to say about working with Gareth and Kohort Recruitment, 

“You get recruitment firms that provide support with general compliance and regulatory roles. However, it was a no-brainer to work with Gareth, who specialises in CASS.”

Chloe also loved Gareth's approach throughout the recruitment process. Instead of only taking the job description and essential details, he gathered more detailed information. It helped Chloe clearly explain what she was looking for.

Chloe felt that Gareth wanted to “get under the hood” and understand the type of person she wanted to fit the team. He asked questions such as, “What do you want?” and “What type of character are you looking for?”

After the initial meeting, Gareth emailed or texted Chloe to constantly update her on the situation. Chloe welcomed the updates and never had to chase Gareth herself. This effective collaboration allowed her to concentrate on her core responsibilities.

Gareth would send the CVs of suitable candidates, and Chloe would quickly review them and provide feedback. This streamlined, direct process by Kohort Recruitment was much quicker than recruiting through the internal HR team.

The Positive and Quick Results for Vanguard

During the recruitment process, Gareth sourced nine interested and well-matched candidates. Vanguard found the number of candidates impressive, especially considering it was a specialised role.

Gareth worked alongside Chloe to shortlist these candidates down to 5. In the next round, four candidates proceeded to the 1st stage interview. The interviews all went well, and multiple final interviews took place.

There was also a situation in which a candidate had removed herself from the process. Gareth persuaded the candidate to re-engage with Vanguard, and the company hired this candidate.

The whole process, from start to finish, took two months to find the ideal candidate. Also, at the candidate's offer stage, Chloe was impressed with how quickly Gareth handled this. The timeline from offer to acceptance was incredible.

Shortly after a 4:00 pm interview on a Friday, Chloe informed Gareth around 4:45 pm that they would like to make the candidate an offer. By 5:00 pm, the candidate had verbally confirmed the offer.

The candidate also indicated they were thrilled to work with Gareth and Kohort Recruitment due to the quick communication. It made the whole process seamless for everybody concerned.

Chloe summed it up by saying, 

“Gareth is an expert in his field. He offers a personalised service and is tenacious, providing good-quality candidates to meet personal requirements!”

The Impact of a Strong Shortlist

About a month after Kohort started sourcing candidates for the role. Vanguard received an extra budget to hire another employee. The company decided to pass this position to Kohort Recruitment as well.

Vanguard found that Kohort Recruitment was flexible and could adapt quickly to changes. Chloe highlighted that while Gareth was helping to place a role in a different team. It was apparent that the person also matched her team.

Chloe explained that the candidate declined the offer to join her compliance team during this process. However, Gareth’s persistence and tenacity were crucial in helping persuade the client to accept.

Also, due to the strength of Gareth's shortlist of candidates, Vanguard filled two positions instead of one. Kohort also managed to fill these roles within the same week. These hirings strengthened two teams, making a positive impact. 

Both employees have settled in well and are enjoying their respective roles. Vanguard views them as valued members of the team. Both employees have also passed their probationary periods in the company.

Vanguard can now easily handle additional compliance requirements and work as a team without stress. This positive result is a testament to how well Kohort Recruitment can match compliance candidates.