Risk and Analytics, 2017 review and a look ahead to 2018

Posted in: Risk

We have seen a large increase in positions within all disciplines of Risk over the last 12 months, this is due to new regulatory initiatives needing to be put in place as well as new emerging technologies being utilised within FS, coupled with the appearance of many technology enabled FinTech companies we can see continued growth and further demand within Credit Risk, Market Risk, Model Risk, Risk Analytics and Quantitative Risk throughout 2018.

The roles that have been and are going to be in demand through 2018 are currently around methodology for market and counterparty credit risk. Companies are looking for development skills with a focus on C++ and Python as a development language. Credit risk roles that have been in demand over the past 6 months are now looking for a pricing and modelling skillset. Operational risk has also seen an increase in permanent hiring including; first line of defence and internal audit as well as IT Risk and Governance. Cyber Security is also a big growth area with the increased reliance on technology and GDPR.

With new technologies being introduced at an ever-increasing rate and companies wanting to utilise their own data better (from either a Retention, Acquisition or Risk perspective) we are seeing a high demand for both permanent and contract staff with strong statistical degrees and analytics experience, this through 2017 has been more of a contract market where candidates can demand high daily rates for using technologies such as Python and R and utilising Big Data rather than the more traditional SAS and SQL skills. As companies start to see and utilise the value within their own or obtained data, there is likely to be a shift towards permanent recruitment.

Throughout 2017 we have seen many of the more manual roles being moved to locations outside of London due to cost, we are seeing large numbers of recruitment now being conducted in Cardiff, Glasgow and Manchester to name but a few. Along with this and the ability to automate a lot of what once were manual processes, some positions are currently becoming permanently redundant in London.

We do not know what the effects of Brexit are going to be, but it has slowed down recruitment from perhaps a candidate perspective as many candidates are holding off moving and too see what happens. When more details are made clearer from the Brexit negotiations the assumption is that there will be new regulations affecting banking within the UK market and with more confidence from candidates, this should drive increased hiring for 2018/19.

A hot topic in 2017 was how employers can attract more women into senior positions (especially within risk) as well as getting women back to work after maternity leave. This is something being taken very seriously and as a result we are being asked to send balanced submissions of candidates and some of the organisations we are working with are putting this at the top of their agendas and pulling up agencies who are not sending balanced shortlists to the jobs that organisations are recruiting for.

All in all 2017 was a busy year and this looks to continue into 2018 so if you are looking for any further information, a chat about your career options or are looking to make a hire then please get in contact.

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