Risk recruitment volumes continue to rise as pay increases 30%
UK, Jul 23, 2010 Recruitment volumes continued to increase across all areas of risk management during quarter two, according to a report from recruitment specialists Robert Walters. Although higher demand came from investment banks, there was a noticeable activity increase on the buy-side, which had been relatively quiet over the previous 6-12 months.Pay up 30 per cent for some
Most professionals who secured new roles in quarter two received significant pay uplifts, with those possessing niche in-demand skill sets routinely offered base salary increases of up to 30 per cent. However, firms could still not be certain of securing candidates as buy-backs became more commonplace. Guaranteed bonuses remained uncommon throughout quarter two.
Credit risk – sovereign and country risk management demand rises
In credit risk professionals with corporate, natural resources and specific commodities experience were particularly sought-after. With a degree of economic uncertainty remaining in Europe, demand for sovereign and country risk managers also increased.
Market Risk – Solid understanding of Greek and VaR sought-after for contractors
Demand for market risk managers in the fixed income, interest rates and FX space remained high during quarter two. In the contract market, analysts were highly sought-after, particularly those with strong risk reporting skills and a solid understanding of Greeks and VaR. Project specialists with commodities experience were in demand - and pay rates increased for these professionals as a result.
Operational Risk – front-to back investment bank exposure sought after
On the operational risk side, firms sought professionals with strong framework development experience and significant front-to-back investment bank exposure. A good understanding of trading products was also valued in quarter two.
Christian Atkinson, Robert Walters’ Risk and Compliance Manager, comments:
“Overall, we saw most hiring at the AVP-VP level, with most demand for professionals with between five and eight years’ experience. While recruitment levels did rise, it was still difficult to secure permanent positions as the market remained competitive. Those with strong analytical skills, good derivatives understanding and the ability to interact with the wider business had most success when applying for new roles.”
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