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Increased regulation changing the profile of risk professionals

01 March 2016

The increase in regulatory pressures in financial markets is creating a growing market for risk professionals with new skills, and pushing up salaries as a result, according to recruiting experts Hays Financial Markets.

The Hays Financial Markets Overview & Salary Guide shows that the increased strategic importance of the risk function is re-writing employers’ expectations of risk professionals.

Buy-side institutes are turning to data analysis projects to monitor and manage risk, creating demand for risk professionals with data science experience. This is shifting the typical profile of candidates in risk away from a traditional statistical or mathematical background and towards those who can bring an understanding of data science technology to the management of risk.

As the importance of embedding risk and controls into a business becomes a top priority, demand is also growing for risk professionals with the ability to engage with and influence stakeholders at the most senior levels. In addition to strong technical skills, communication skills are also becoming a key requirement for those hiring in this area.

Such candidates can be hard to find, and organisations are increasing salaries and fast tracking promotions to attract the best people. A shortage of operational risk candidates at Associate Vice President and Vice President levels prompted up to 15% increases in salaries in 2015. The most senior professionals in risk can expect to earn upwards of £200,000 with those in quantitative risk in investment banking receiving the highest salaries.

Ian Clark, Director at Hays Financial Markets said: “Despite wider economic uncertainty the outlook for hiring in financial markets is cautiously optimistic. Demand for candidates in risk, audit and financial crime compliance continues to rise steadily and we expect to see competition and salaries rise, particularly for those who specialise in regulatory or data-related fields.

Counter-offers are prevalent in the sector and we are seeing growing middle management skill shortages that are a lingering side-effect of hiring freezes of six to eight years ago. These factors will continue to create further salary inflation in the year ahead.”

For more information:

For more information:
Kathryn Iacono
T: 0207 200 3760

About Hays
Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2015 the Group employed 9,420 staff operating from 248 offices in 33 countries across 20 specialisms. For the year ended 30 June 2015:

– the Group reported net fees of £764.2 million and operating profit (pre-exceptional items) of £164.1 million;
– the Group placed around 63,000 candidates into permanent jobs and around 200,000 people into temporary assignments;
– 23% of Group net fees were generated in Asia Pacific, 41% in Continental Europe & RoW (CERoW) and 36% in the United Kingdom & Ireland;
– the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees;
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA