Featured Risk Market Update & Hiring Trends
Risk Market Update & Hiring Trends

With more industries and sectors being affected by new regulation in 2015 and a number of highly publicised events taking place, this has shifted the view of organisations to reflect a higher focus on the risk areas of business. This has ultimately resulted in an increased need for risk staff across multiple industries. The volume of risk vacancies has made it increasingly difficult to recruit for and increased the need to shift to alternative strategies for recruitment.

ON-GOING STRATEGIES

Risk candidates who are actively seeking new positions are quickly being taken off the market. This means that organisations have got to move fast when recruiting and even shorten the recruitment processes in order to secure candidates. This has also meant that from a recruitment prospective, we are having to focus on headhunting passive candidates.

Organisations have also had to bring on candidates with diverse backgrounds from across multiple industries.

  • Standard Chartered has been one organisation that has been implementing this for a number of years,
    particularly within operational risk; bringing people on from pharmaceuticals and aerospace engineering sectors among others.
  • A number of banks such as Credit Suisse are keen on bringing on candidates from the insurance sector.
    This is particularly true for risk modelling and analytics candidates with strong actuarial and catastrophe risk
    backgrounds.
  • The gambling sector has long been an area which generates a large level of strong statistical focused risk
    candidates which are particularly suitable for decision science-based roles in banking.
  • With a growing number of peer-to-peer lenders, crowdfunding and pay day lending organisations, candidates
    are also being taken from the banking space. – A high profile hire for Funding Circle was recently Jerome Le
    Luel (Group Head of Risk Analytics at Barclays) as their new global Chief Risk Officer.

In addition to this, a large selling point for Broadgate Search has been the ability to source candidates from overseas.
This has proved particularly successful in the Investment Banking sector, where highly specific risk positions can be
filled with niche skill sets from overseas.

  • Deutsche Bank’s Berlin risk office, has long been a hub for relevant quantitative risk & analytics candidates.
  • Citi’s recent relocation of their risk and compliance function to Belfast has also meant that a large number of
    their risk positions, particularly within operational risk has created an opportunity to relocate candidates to
    London.
CURRENT HIRING TRENDS FOR COMPETITORS OF BARCLAYS INVESTMENT BANK

Citibank

  • With a hiring freeze in the London office; the majority of replacement hires have been relocated to Belfast office.
  • In addition to some market risk positions and portfolio analytics roles, Citibank is taking on a number of operational risk & control candidates across different levels of the business.

Credit Suisse

  • There has been a lot of change at Credit Suisse with a new CEO; In addition to a High profile, Head of Operational Risk Framework position (EMEA), credit Suisse have recruited a large number of Market & Liquidity risk roles up to VP level.

Bank of America

  • For Bank of America, Stress Testing proves an area that is in high demand at the moment across the bank, with a large number of positions particularly focussed on the MBNA side of the business.

BNP Paribas

  • Similarly, BNP are seeking a number of Quant risk methodology positions, in addition to some market risk roles.

Deusche Bank

  • Over the next year Deutsche Bank is aiming at moving the majority of their compliance function to Birmingham, but also a large number of their risk candidates as well.
  • A number of operational risk and also regulatory risk roles are being recruited for at multiple levels across the bank.
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