Risk Management

Risk Management

Selby Jennings: A Specialist Risk Management Recruiter

Selby Jennings is a leading Risk Management recruitment specialist talent partner in financial sciences & services. Our global Risk Management team provides permanent, contract, and multi-hire talent from our offices across three continents.

For nearly 20 years, clients and candidates have had peace of mind that their specialist Risk Management recruitment process is in safe hands. With newly developed risk management software driving risk management talent marketing, the need for niche talent is getting increasingly difficult for companies to recruit, onboard, and retain.

From streamlining processes and upskilling workforces, to staying cutting edge by employing flexible work models, our Risk Management recruiters advise enterprise leaders on when to strike and how. We also provide expert insight to Risk Management professionals on benchmarking benefits packages and salaries, and assist them through their career moves.

If youโ€™re interested in securing the very best Risk Management talent or youโ€™re a professional looking for Risk Management jobs, the Selby Jenningsโ€™ Risk Management team connects exceptional talent to industry-leading clients.

โ€‹If you're a Risk Mananagement professional, please register your CV/resume.

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If you're looking for Risk Management talent, please register your vacancy today.

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Benefits of working with Selby Jenningsโ€™ Risk Management team

We are a specialist Risk Management talent partner. Among the many benefits of working with Selby Jenningsโ€™ global Risk Management team are:

Experience

Experience

We have nearly 20 years of experience as a leading talent partner in financial sciences & services.

Network

โ€‹Network

A vast, global network of the best, in-demand professionals, working with the worldโ€™s largest financial institutions to innovative fintech start-ups and beyond.โ€‹

Knowledge

โ€‹Knowledge

Our award-winning talent specialists offer bespoke, tailored guidance on the latest hiring trends and industry news to help you achieve your goals.

Building lasting relationships based on trust, integrity, and mutual success is our ethos at Selby Jennings. Our Risk Management headhunters are dedicated to crafting bespoke solutions in tune with your specific needs, while providing flexible options to match your recruitment style and goals. Whether your need is for rapid placements in key roles or strategic talent acquisition solutions, our expertise and resources stand ready to deliver. Begin your journey with us by sharing your vacancy today.

Kickstart the process to bridge your talent deficit by completing the form today. Our team is eager to explore how we can work together to meet your Risk Management recruitment needs efficiently and seamlessly.

Risk Management Jobs

Risk Management professionals are crucial in the fast-paced finance sector. With the growing emphasis on mitigating financial risks, individuals with these skills are in high demand. By aligning with Selby Jennings, a Risk Management specialist, you can elevate your career trajectory. Browse our available roles or submit your CV/resume, and we'll contact you when a relevant opportunity arises.

Quant Risk Analyst - Multi Strat

A multi-strategy fund with over $10 billion AUM is looking to hire a Quantitative Risk Analyst to join the team in NYC. This is a newly created position and growth hire for the business. The risk team sits on the trade floor, working directly with Portfolio Managers running a variety of strategies, including: Event Driven/Fundamental Equity, IG/Distressed/Structured Credit, Convertible Arbitrage, Volatility and Derivatives, and other alternative investments. For this role, experience developing risk models/analytics is a must - this will be a quantitative specialist working closely with all PMs to research risk factors, build custom models, assist in portfolio construction, and advise on hedge strategy and portfolio rebalancing. Requirements: 5+ years quant risk experience at a hedge fund/asset manager Proficiency in Python/R/SQL Prior experience developing and enhancing risk factor models Fixed income/credit coverage required Multi-strategy experience strongly preferred

Up to US$200000 per year + bonus
New York
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Financial Controller m/f/d

Financial Controller (m/f/d) Unser Kunde ist ein fรผhrendes Unternehmen im Automotive-Sektor und sucht einen erfahrenen Financial Controller zur Unterstรผtzung seines Teams in Bayern. Im Team Financial Planning & Analysis unterstรผtzt du sowohl die monatlichen Top-Management Performance Reviews, als auch die strategische, mittel- und kurzfristige Finanzplanung & Forecasting FlieรŸend Deutsch und Englisch Excel-basierte Finanzmodellierung Du bist die Schnittstelle zwischen den Lรคndern & Management Board, erstellst Abweichungsanalysen und definierst MaรŸnahmen zur zukรผnftigen Zielerreichung Du konzipierst zukรผnftige Planungs- und Forecasting Ansรคtze, definierst neue KPI- und Treibermodelle und arbeitest cross-funktional mit unterschiedlichen Abteilungen (z.B. Strategy, Operations Performance oder Fleet Analytics) zusammen Du bist End-to-End involviert und begleitest neben der Konzeption auch die technische Umsetzung deiner Ideen Du blickst รผber den Tellerrand hinaus und bringst neue Ansรคtze, Gedanken und Innovationen ein, die du eigenstรคndig umsetzt Wir freuen uns darauf Ihre Bewerbungsunterlagen zu erhalten.

Negotiable
Germany
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Risk Manager (m/w/d) AnaCredit

Mein Kunde ist eine staatliche Handelsbank mit Sitz in Frankfurt. Derzeit suchen sie nach einer Position als Senior-Model-Validator. Es handelt sich um eine Hybridrolle, die es Ihnen ermรถglicht, zwei Tage pro Woche von zu Hause aus zu arbeiten. Das Gehalt liegt je nach Erfahrung bei bis zu 80.000 Euro pro Jahr. Ihre Aufgaben: Eigenstรคndige Erstellung von AnaCredit-Berichten und Umsetzung neuer aufsichtsrechtlicher Anforderungen. Koordination mit Behรถrden und Softwareanbietern, Bearbeitung von Ad-hoc-Anfragen und Unterstรผtzung bei Analysen. Begleitung der Entwicklung von granularen Berichterstattungen in europรคischen Initiativen wie BIRD / IREF. Ihre Profil: Abschluss in Wirtschaftswissenschaften oder รคquivalent. Fundierte Kenntnisse der AnaCredit-Vorschriften bevorzugt. Erfahrung mit SQL Management Studio wรผnschenswert. FlieรŸend in Englisch und Deutsch (C1). Wenn Sie bereit sind, Ihre Fรคhigkeiten und Expertise in einer herausfordernden Position einzusetzen, senden Sie bitte Ihren Lebenslauf an Giovanny Benztio. Wir freuen uns darauf, von Ihnen zu hรถren! Bitte beachten Sie, dass nur Bewerber, deren Profile den Anforderungen entsprechen, kontaktiert werden. Ihre Bewerbung wird vertraulich behandelt.

โ‚ฌ60000 - โ‚ฌ80000 per annum
Frankfurt am Main
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Quantitative Analytics Senior Director

Description: My client is looking to hire multiple Quantitative Analytics Senior Directors to lead the model risk management group and effectively challenge the conceptual design of models and verify the accuracy of their implementation. 15+ years in model risk management, model validation or model implementation is essential. These hybrid roles will be able to sit out of Dallas, Chicago, NYC, or the greater DC area. Responsibilities will include the validation and implementation of a diverse set of models across credit risk, market risk, and counter-party credit risk. Relocation assistance is being provided. Responsibilities: Responsible for reviewing and ensuring the validity of the implementation of financial models across all risk types Effectively engage with model governance and reporting functions Extensive experience in model development or validation Strong technical skills in processing data and programming

US$250000 - US$365000 per year
New York
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Risk Management Officer

Our client is a premier financial institution recognised for its commitment to sustainable banking solutions. With a rich history spanning over 180 years and a strong presence in 27 locations worldwide, they provide dynamic and personalised services in investment advisory and asset management to both private and institutional clients. Their success is largely attributed to the dedication and expertise of their employees. They are proud of their unique culture which fosters entrepreneurship, supported by a collaborative team spirit and a positive work environment. They are looking to expand their international team with professionals who are eager to contribute to their ongoing success story. Your Role As a Risk Management Officer, you will play a key role in maintaining and enhancing a robust risk framework. This position involves managing and controlling risks and compliance with regulatory standards applicable to our fund management operations, including those specific to our Swiss funds. A critical part of your role will be integrating risk considerations into decision-making processes, particularly in relation to maintaining strong business partnerships. Proficiency in project and process management will be advantageous. Your Responsibilities Uphold and advance our established risk & control framework, encompassing various risk management aspects. Monitor risk profiles and ensure compliance with regulatory requirements at both the company and individual fund levels, serving as a second line of defence. Contribute to the preparation of regular and risk reports for senior management and various oversight bodies. Oversee the outsourcing framework and ensure its effectiveness. Manage coordination tasks and other duties, including those related to regulatory processes. Support or lead internal projects focused on process management or fund product initiatives. Perform reviews and participate actively in risk management and fund-related projects. Your Profile Advanced degree in business administration, economics, or a related field; professional certifications such as CFA or FRM are beneficial. Minimum of three years' experience in risk management within the financial sector, ideally in asset management or investment funds. Exceptional analytical abilities and a detail-oriented mindset with the flexibility to work independently. Proactive team member, eager to take ownership of responsibilities. Practical, solution-oriented approach with the capability to collaborate effectively with both internal and external stakeholders. Resilient under pressure with excellent prioritising and decision-making skills. Strong communication abilities, fluent in English and German; knowledge of French is a plus.

Negotiable
Basel
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Quantitative Credit Risk Analytics, VP

Description: My client is seeking an experienced quantitative model developer to join their dynamic team of Risk Strategists. This role offers an exciting opportunity for a skilled quantitative expert with a strong background in credit risk rating - PD (probability of default) and LGD (loss given default) modeling. You will collaborate with cross-functional teams to design, develop, implement, and validate complex financial models. The ideal candidate should have experience developing internal risk rating models, collaborating with stakeholders to ensure model outputs align with strategic goals, and conducting rigorous model testing to assess accuracy. Responsibilities: 5-7 years of experience developing credit risk models Expertise in Python, SQL, and R Working knowledge of MCMC, Bayesian tool, time series analysis and machine learning techniques PhD in a quantitative background

Negotiable
New York
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Structured Credit Officer

Description: My client is seeking a structured credit officer with experience and skills in corporate finance. Responsibilities include reviewing & challenging credit applications submitted by the front office and preparing executive summaries / written recommendation for the management of the Credit Department. This person will analyze client's financial performance, and continuously monitor risk events and quality of the assigned portfolio. They will also participate in the periodic meetings to review specific borrowers and sectors to support front offices to set appropriate action plans for deteriorating credits. Responsibilities: Conduct required analysis of various credit risk elements for new and existing transactions for corporate credits Solid knowledge of corporate finance, especially for US subsidiaries of Asian parent companies Good working knowledge of credit and risk principles including corporate finance, securitization, and ABL

US$170000 - US$1400000 per year
New York
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Audit Manager - Securities and Trading

Audit Manager - Securities and Trading Location: NYC or Tampa Compensation: 140-160k base I am currently working with a Top International Bank that is looking to grow out its internal audit function by adding a manager covering their securities and trading function. Ideal candidates have 7+ years of experience in Internal Audit and are familiar conducting audits in relation to trading activities, fixed income, capital markets, and investment banking. Additionally, given that this person will be acting as an Audit Lead on a variety of projects, the team is looking for someone who has experience being an AIC and supervising more junior staff. In this role, you will be planning and scoping the audit plan, leading concurrent and cross-functional audit engagements with minimal supervision, and accurately reporting control gaps and deficiencies, and aiding in the development of the remediation plan. Responsibilities: Act as an AIC, managing audit engagements from start to finish Analyze and report control deficiencies and develop plans for remediation Planning and scoping numerous overlapping audits Communicating closely with senior management and key stakeholders to discuss proposals for solutions and ensuring adequate follow-up plans are established Requirements: 7+ years in Internal Audit, experience conducting audits in relation to trading activities Bachelor's degree in finance, business, or another related field Knowledge of Broker Dealer Regulations Strong ability working independently Excellent written and verbal communication skills Relevant certification preferred (CPA or CIA)

US$140001 - US$160000 per year
New York
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Market Risk Management Oversight

The Major International Bank is expanding its team and seeking a Market Risk Management Specialist. This role oversees a Market Risk Governance framework, ensuring compliance with regulatory requirements such as CFTC, NFA, FRB, and FRTB. Key responsibilities involve risk oversight and analysis for CM and Nikko, with a focus on quantitative market and liquidity risk. The position involves direct interaction with traders, setting risk policies, and managing internal/external communication for regulatory compliance. Role Objectives: Understanding market risk management practices, including limit monitoring and remediation procedures Managing risk metrics for trading desks (credit, rates, FX) Proficiency in financial product knowledge (VAR, stress testing, scenario analysis) Analytical skills to address reporting and monitoring issues Strong programming abilities (Python, PowerBI, Visual Basic) Experience with Bloomberg API and MS SQL Ability to recognize implications of breaches across risk metrics and control environment Qualifications and Skills: 2-5 year's experience in market risk management Effective communication with stakeholders regarding key risks Leadership in developing risk function and collaborating with other business owners Technical skills for task automation (scripting, VBA)

Negotiable
New York
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Senior Expert - Risk Models (m/w/divers)

Your duties involve advancing models for measuring operational risk and refining the methodology for incorporating climate risks into the credit evaluation process. Your willingness to tackle quantitative challenges and embrace novel modelling techniques allows you to enhance your mathematical and methodological expertise through innovative projects. You'll be part of a diverse, international, and agile team comprising process-oriented business experts, IT developers, and methodologists. Your role entails owning every aspect of your model components, including: Analysing empirical data using contemporary mathematical and statistical methods. Evaluating various modelling approaches to assess their suitability and impact on bank management. Independently and flexibly developing your own concepts. Providing assistance for technical implementation. Conducting ad-hoc analyses in response to political or economic events. Reporting to management and committees. Engaging in dialogue with model users and supervisors. Collaboratively prioritizing tasks with the Product Owner. Your qualifications should ideally include: A Master's or diploma degree in mathematics, computer science, natural sciences, or a related field, with a preference for candidates with a doctorate. Proficiency in mathematical and statistical concepts, including but not limited to multivariate statistics or stochastic processes. Hands-on experience with modern programming languages such as R or Python. Interest in data analysis and data science, with knowledge of SQL being advantageous. Basic understanding of risk measurement or risk control would be beneficial. Demonstrated analytical prowess, innovative thinking, and the ability to conceptualize and solve problems effectively. Strong communication skills, both written and verbal. A highly motivated team player who thrives in cross-location teams. Willingness to embrace agile working methodologies. Fluency in both German and English.

Negotiable
Frankfurt am Main
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Head of Risk

Head of Risk - Join a Leading Asset Management Firm in Luxembourg Our client, a highly respected asset management firm based in the heart of Luxembourg, is seeking an experienced and driven individual to join their team as Head of Risk. As one of the most prominent names within this sector globally, they are looking for someone who can help them maintain their reputation by leading risk management efforts across all areas. Responsibilities: - Developing and implementing effective risk strategies that align with business objectives - Managing day-to-day activities related to risks including monitoring exposures - Identifying potential threats or vulnerabilities through proactive analysis. - Collaborating with other departments such as Investment teams on hedging strategy development At least five year's relevant work experience at senior level positions focused primarily on developing/implementing strategic plans aimed towards mitigating various types/ sources of financial/business-related Risks Skills Required : In addition to educational/professional achievements above ,the following skills would be required; * Strong leadership ability; able to motivate cross-functional teams effectively; * Excellent communication & analytical abilities ; * Ability to identify key patterns/trends from large amounts of data quickly (data analytics); * High-Level Problem Solving Skills which enables quick thinking during high-pressure situations If you feel like your background adequately fits our client's requirements listed above please do not hesitate submit your application now!

Negotiable
Luxembourg
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Consultant

Role: Risk & Finance Consultant Location: Brussels, Belgium Join a boutique consultancy firm as a passionate Risk & Finance Consultant in the financial sector. Collaborate with their dynamic team to deliver exceptional solutions for their diverse client portfolio, including banks, insurance companies, and energy traders. Key Responsibilities: Provide expert guidance in Risk & Finance domains, contributing to the design, development, and customization of solutions. Serve as a liaison between business and IT, translating client requirements into detailed specifications. Apply a blend of functional knowledge and technical skills to deliver valuable insights and advice. Engage in various international projects, continuously expanding your expertise and taking on new challenges. Key Requirements: Bachelor's degree in Banking & Finance, Economics, or related field. Over 3 years of experience in banking, with a strong grasp of Financial Risk Management. Proficiency in regulatory frameworks such as Basel IV and CRR3. Programming proficiency in SAS, Python, R, VBA, or equivalent. Excellent communication and interpersonal skills. Fluency in English and Dutch/French. Ability to work autonomously in a result-oriented environment, with a client-centric approach. Curiosity and adaptability to explore new areas. Excited about revolutionizing Risk & Finance in the financial sector? Join our client and unleash your potential on diverse international projects while enjoying a supportive, collaborative environment and attractive benefits package.

Negotiable
Brussels
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Risk Management News & Insights

The Future of AI in Risk Management Services Image
career advice

The Future of AI in Risk Management Services

The landscape of risk management is undergoing rapid transformation, with artificial intelligence (AI) being at the forefront of this change. From financial risk management to project risk management, AI's growing influence can be observed across the entire risk management framework.The AI Revolution in Risk Management ServicesAlgorithmic TradingAlgorithmic trading, underpinned by AI, has reshaped financial risk management. By analyzing vast amounts of data in real-time, these systems can execute trades at lightning speeds, capitalizing on minute price discrepancies and making more informed trading decisions based on predictive analysis.Fraud Detection and PreventionAI systems can analyze transaction patterns at scales impossible for humans. This has made them indispensable in detecting fraudulent activities. They're able to identify irregularities, anomalies, and potentially fraudulent transactions, offering a crucial layer of protection for financial institutions.Risk ManagementProject risk management has been significantly enhanced with AI's ability to forecast potential roadblocks, challenges, and inefficiencies in real time. The predictive capabilities of AI help in pre-empting risks and allow businesses to mitigate them effectively.Customer ServiceAI-powered chatbots and virtual assistants have elevated customer service standards. These tools can promptly address customer queries, offer personalized advice, and even assist in financial planning based on the customer's financial history and future goals.Effects on Jobs and Hiring PracticesJob Displacement and ReskillingWhile AI brings about increased efficiencies, there's an inherent fear of job displacement. Many routine tasks are now automated, leading to a need for reskilling and upskilling in the workforce.Find out how to write a risk manager job description here.Demand for Specialized SkillsThe rise of AI has sparked a demand for specialized skills. Professionals adept in machine learning, data analytics, and AI integration are highly sought after, reshaping the hiring paradigm in the risk management sector.Evolving RolesTraditional roles are evolving. Risk managers now need to collaborate closely with data scientists, AI specialists, and other tech professionals to ensure seamless integration of AI tools and to make informed risk-related decisions.Remote Work and CollaborationWith AI streamlining many operational processes, remote work and collaboration have become more feasible and efficient. AI-powered tools facilitate seamless communication and collaboration among dispersed teams.Explore the 5 soft skills you need for remote working.Advantages and Disadvantages of AI in the Risk Management Industryโ€‹AdvantagesIncreased EfficiencyAI's ability to process and analyze vast amounts of data at unprecedented speeds has led to unparalleled operational efficiencies.Enhanced Decision-MakingWith data-driven insights, professionals can make more informed decisions, optimizing financial and project risk management strategies.Personalized Customer ExperienceAI offers tailor-made solutions and advice to customers based on their unique profiles and preferences, improving overall satisfaction.DisadvantagesJob DisplacementIncreased automation may eventually render some traditional roles obsolete, leading to potential workforce reductions.Data Privacy and Security ConcernsThe increased use of AI systems poses data privacy challenges. There's a rising need to ensure that personal and financial data remain secure.Ethical ConsiderationsThe autonomous decision-making capability of AI systems raises ethical concerns. Who's responsible when an AI makes a wrong decision? These questions are becoming increasingly pertinent.The incorporation of AI in risk management services is undeniably transformative, offering numerous benefits but also presenting challenges. For businesses, staying ahead of the curve is crucial. If you're looking to hire, having access to Selby Jennings' talent pool ensures you get the best professionals with the skills that focus on navigating this new landscape. Stay proactive, embrace change, and harness the potential of AI in risk management. Reach out to us for a call back or submit a vacancy today.Alternatively, if you're a Risk Management professional, there's no better time than now to upskill and search for a job that leverages your expertise in this evolving domain.

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hiring advice

The Most Important Soft Skills to Look for When Hiring

In today's dynamic and collaborative work environments, technical skills alone are not sufficient to ensure success. Soft skills, which encompass a range of interpersonal, communication, and behavioral attributes, play a vital role in driving productivity, fostering teamwork, and promoting organizational growth. In this article, we explore the most important soft skills to look for when hiring and highlight their importance in creating a strong and agile team.1. Effective CommunicationEffective communication is the cornerstone of successful teamwork and collaboration. Candidates who possess strong communication skills can articulate ideas clearly, actively listen to others, and adapt their communication style to different audiences. Look for individuals who can express themselves concisely, ask thoughtful questions, and provide constructive feedback. Clear and open communication promotes a positive work environment and ensures that team members understand expectations and goals.2. Adaptability and FlexibilityIn today's rapidly evolving business landscape, adaptability and flexibility are crucial. Candidates who can quickly adjust to changing circumstances, embrace new technologies, and handle unexpected challenges with composure are highly valuable. Look for individuals who demonstrate a willingness to learn, adapt their approaches, and embrace change. These adaptable professionals can navigate ambiguity and contribute to innovative solutions in a fast-paced and dynamic work environment.3. Problem-Solving and Critical ThinkingProblem-solving and critical thinking skills are essential for overcoming obstacles and making informed decisions. Candidates who exhibit a logical and analytical approach to problem-solving can identify root causes, evaluate alternative solutions, and make well-reasoned judgments. Look for individuals who demonstrate creativity, resourcefulness, and the ability to think critically under pressure. Effective problem-solvers can contribute innovative ideas and navigate complex situations with confidence.4. Teamwork and CollaborationIn today's interconnected workplace, the ability to work effectively in teams is paramount. Look for candidates who demonstrate strong teamwork and collaboration skills, including active participation, respect for diverse perspectives, and the ability to build consensus. Effective team players contribute to a positive team culture, foster cooperation, and leverage collective strengths to achieve common goals. They are also adept at resolving conflicts constructively and building strong relationships with colleagues.5. Emotional IntelligenceEmotional intelligence (EQ) refers to the ability to recognize and manage one's emotions, and understand and empathize with others' emotions. Candidates with high EQ can navigate interpersonal dynamics, build rapport, and effectively resolve conflicts. Look for individuals who demonstrate self-awareness, empathy, and strong interpersonal skills. Emotionally intelligent professionals can establish positive relationships with colleagues, clients, and stakeholders, leading to enhanced teamwork and better client interactions.6. Leadership and InfluenceLeadership skills are valuable not only in managerial roles but also in individual contributors who can influence and inspire others. Look for candidates who exhibit leadership potential through their ability to motivate, mentor, and guide colleagues. Effective leaders possess strong communication skills, lead by example, and inspire trust and respect. These individuals can drive initiatives forward, foster innovation, and cultivate a positive and productive work environment.โ€‹If you are looking to hire talented banking and financial services professionals in today's competitive market, it is crucial to prioritize both hard and soft skills during the recruitment process. At Selby Jennings, we understand the significance of building a strong and agile team that possesses the right blend of technical expertise and interpersonal abilities.Whether you require professionals with expertise in Investment Banking, Wealth Management, Risk Management, or other areas within the financial services industry, we have the resources and knowledge to source exceptional talent. Our thorough screening processes and personalized approach allow us to identify individuals who not only meet the technical requirements of the job, but also exhibit the soft skills needed to thrive in a collaborative and fast-paced environment.Partnering with Selby Jennings means gaining access to our vast candidate network, industry insights, and expertise in identifying and attracting high-caliber professionals. If you are ready to find the key hard and soft skills in candidates that will drive your business forward, we encourage you to request a call back or submit your job specification today. Let us help you secure the exceptional talent your organization deserves.

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Highlights

Risk on the Rise: Mastering the Risk Talent Market

The current complex global financial landscape, including events like Silicon Valley Bankโ€™s collapse, has highlighted the significance of risk management talent in ensuring the stability, resilience, and longevity of businesses.It has never been more critical to have the right risk management talent in place. As global markets become further interlinked, the nature of financial risks have become more complicated. Coupled with unpredictable global markets, rising inflation, and changing regulations, there is a strong precedent for hiring risk talent across the US, and that will continue for the foreseeable future.In this report, discover the overall risk management talent landscape, with deep dives into key sectors, insights into top trends, hot roles, and salary guidance. Whether youโ€™re a hiring manager looking to attract and retain your team, or a risk specialist considering your next career move, this report has plenty of relevant and crucial takeaways for you.โ€‹Donโ€™t miss these essential insights - download your copy of the Selby Jennings 'Risk on the Rise: Mastering the risk talent market' report 2023 here:โ€‹

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Risk-Management

Europe: The Future of Risk Management

Growth and evolution best describe the current state of financial services in Europe right now. From the development of secondary financial hubs outside of cities like London to smaller companies like fintechs and startups offering competitive compensation and benefits packages, firms big and small find themselves competing for top talent. So much so that many organizations are now having to rethink their talent acquisition strategies and processes.With increased competition for talent between firms, the overarching question hiring teams need to ask themselves is โ€œHow can we differentiate ourselves from our competitors to attract and retain the best talent?โ€Download your copy of the report Growing demand for talented risk management individuals The financial services landscapeโ€™s period of profound transformation is being driven by technological advancements, evolving regulations, and an increasingly complex global environment. Amidst this change, one thing remains constant: the critical role of risk management.Why the surge in demand?Emerging technologies like AI, blockchain and big data introduce new avenues for both innovation and potential risk. While they present great opportunities for businesses, the evolving cyber landscape requires robust cybersecurity measures and risk management expertise to mitigate exposure. As well as safety measures individual companies are employing to protect themselves, regulatory bodies like the SEC and OCC are imposing stricter requirements, demanding sophisticated risk management frameworks and qualified personnel.How are organizations responding to risk change?Many firms are investing in advanced technologies like AI, machine learning and big data analytics to automate risk identification, monitoring and assessment. JP Morgan Chase has invested in creating its own AI-powered tools to examine individual credit card transactions in real-time to identify and analyze potential fraud patterns.Furthermore, the traditional, static risk frameworks are being replaced by adaptable and dynamic models that can continuously adapt to new threats and emerging trends. This agility ensures prompt responses to risk changes.Organizations are investing in training and development programs to equip their employees with the latest risk management skills, including quantitative modeling, cybersecurity awareness, and regulatory compliance knowledge.Bank of America launched a comprehensive training program to upskill employees on data analytics and cybersecurity risks.Businesses are also having employees pool their knowledge by establishing dedicated risk committees and fostering collaboration between different departments, such as compliance, IT and operations, as well as external experts, to ensure their risk management strategies are comprehensive. Out of these strategies comes risk awareness culture building, which involves promoting open communication, encouraging risk reporting and rewarding proactive risk identification.By actively adopting these strategies, organizations can build resilience, navigate the changing risk landscape effectively, and ensure long-term sustainability in the competitive financial services market.Why choose Selby Jennings? Selby Jennings has extensive expertise in connecting highly qualified risk management professionals with leading firms across Europe. We leverage our extensive network and market knowledge to help you find the perfect opportunity to match your skills and career aspirations.To check out what types of Risk Management vacancies we have here at Selby Jennings, click here.Looking to hire top-tier talent in risk management for your organization?Selby Jennings is your partner for connecting with highly qualified professionals. Our team possesses extensive expertise in linking skilled risk management individuals with industry-leading firms globally.By leveraging our vast network and in-depth market knowledge, we ensure that you find the ideal candidate who perfectly aligns with your organization's needs and goals. To kickstart the process, simply request a call back from our team of experts.

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Management & Culture

How Mistakes in Hiring Can Cost Millions

5 key takeaways from Dallas Managing Director Oliver Cooke on getting hiring wrong in risk management.Whatโ€™s harder than retaining talent in financial services? Finding it in the first place. There is a growing need for a diverse, skilled workforce, but identifying and acquiring those workers can be a difficult task. On September 19, our very own Oliver Cooke sat down with Dov Marmor, CEO at quiltmind and Konrad Alt, Founder of Klaros Group, to discuss this very topic on LinkedIn Live. Keep reading for the five most crucial insights every hiring manager in risk management in the financial services industry must know. The best hiring managers are always recruiting, even when theyโ€™re not recruiting.Being a serial networker isnโ€™t just good for clout on LinkedInโ€”it can seriously pay off when your organization has to move quickly to hire. Having a bench of prospective hires will allow you and your firm to be more agile when you need to fill a senior role fast, which is oftentimes when it matters most. Cooke notes that Silicon Valley Bank would have greatly benefited from this strategy, as they were notably without a Chief Risk Officer for nearly six months when they collapsed. โ€œIt doesnโ€™t matter if itโ€™s risk or any other role, a truism is that people will leave,โ€ Marmor adds. โ€œSo you always need to have a plan and just assume the worst and be ready for that to happen.โ€Sourcing risk talent is only going to get more competitive with timeItโ€™s perhaps easier to answer the question of which areas of the banking industry arenโ€™t interested in bolstering their risk operations than those that are. In the last 6-12 months, Cooke has noticed a pickup in risk hiring, particularly post-SVB.โ€œThree areas weโ€™ve seen pickups in are liquidity risk, asset liability management, and treasury. A lot of organizations are looking very closely at how they manage their capital, their assets and consequently hiring talent to support that,โ€ he says. Conversely, Cooke also points out that here at Selby Jennings we have seen a lot of growth in operational risk and, within that, technology risk. There has been growth in hedge fund credit risk and counterparty credit risk off the back of the meme stock craze last year, too. One thing all these areas have in common is that they are taking a more quantitative and AI-driven approach to risk managementโ€”and while AI is expected to improve risk management, it also introduces new challenges related to data privacy and information security.Quants with communication skills will prove to be the most valuable talentQuantitative expertise is expected when it comes to the talent pool within risk management, but what differentiates an excellent candidate from a good candidate is the ability to communicate. Hiring quants that can communicate complex concepts in a digestible and actionable manner is crucial to bridging the gap between quants and executive leadership at your organization, thereby mitigating risk. In some cases, quants and risk managers can eventually move into executive leadership roles, as evident with CS Venkatakrishnan, who became CEO of Barclays after 25 years of leading risk and quant risk groups across Wall Street, Cooke points out.Hiring overseas talent requires planning into costs and hiring cyclesNearly 50-70% of risk talent originally comes from overseas, most notably within STEM-focused education. The process of securing H1B visas for foreign talent can be time-consuming and costly, posing challenges for organizations with immediate needs. Strengthening domestic STEM talent wonโ€™t happen overnight, so employers must plan for the lead time and costs associated with hiring foreign talent. It ends up being well worth the investment of course, and gives you access to a wider talent pool instead of just looking domestically, but many firms donโ€™t realize that until itโ€™s time to hire, and it ends up delaying critical project timelines. Approval for an H1B visa can take anywhere from 6-12 weeks after offer acceptance, and is likely to cost between $5,000-$10,000.Staffing your firm with risk professionals yields long-term benefitsIn his 12+ years of experience in the market, Cooke has observed that companies often struggle with viewing risk management as a cost and not a revenue generator, especially in a macroenvironment where most organizations are looking at how they manage their costs very closely. On top of that, the supply-demand imbalance drives up the compensation, making it increasingly difficult for cash-strapped companies to justify the spend. When risk isnโ€™t managed properly, however, companies can face millionsโ€”sometimes even billionsโ€”in fines and sanctions or collapse entirely, like in the case of SVB. โ€œIt can cost an organization up to billions of dollars if they donโ€™t have the right talent and processes in place,โ€ says Cooke. โ€œItโ€™s 100% necessary to make the business run effectively and make smart decisions.โ€Are you looking to hire world-class risk management talent for your organization? Submit a vacancy or request a call back today, and one of our expert consultants will get back to you and schedule a confidential conversation.โ€‹

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Risk-Management

The Future of Risk Management

Growth and evolution best describe the current state of financial services in the US right now. From the development of secondary financial hubs outside of metropolitan cities like New York, to smaller companies like fintechs and startups offering competitive compensation and benefits packages, firms big and small find themselves competing for top talent. So much so that many organizations are now having to rethink their talent acquisition strategies and processes.So with increased competition for talent between firms, the overarching question hiring teams need to ask themselves is โ€œHow can we differentiate ourselves from our competitors to attract and retain the best talent?โ€In this report we deep dive into the current hiring trends across the Risk Management market, and as well provide salary tables compiled from actual compensation packages we received from Risk Managers in 2022.โ€‹To check out what types of Risk Management vacancies we have here at Selby Jennings,click here.Download your copy by completing the form below:

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Risk-Management

The risk management landscape: industry & hiring trends

The complexity of todayโ€™s business landscape, from a global pandemic, supply chain disruptions, cyber attacks, to name but a few, are some of the main contributors to organizational risk exposure. But, with great complexity opportunities abound; and they are certainly exuberant for risk management professionals who are in higher demand than ever before. Our specialist risk management recruiters have revealed their latest thinking on the major talent trends impacting the industry, as well as the wider market at large.To check what type of Risk Management vacancies we have available, click here.โ€‹โ€‹Market riskMatthew Stehl, Vice President at Selby Jennings"In the market risk industry, we have witnessed a tug-of-war between the banks, hedge funds, trading firms, and financial technology firms to attract and retain business-critical talent across market risk, model validation, or any model development verticals. Due to rampant hiring activity across hedge funds and asset managers, we are seeing candidates move easily from the sell-side to the buy-side, subsequently making it more difficult for the banks to secure talent. Hedge funds and crypto trading firms therefore amplified their risk hiring strategy, which is perhaps indicative of market volatility and investors building out these teams to protect their downside.โ€‹A trend that has emerged in quantitative risk is FRTBโ€™s, which has driven hiring activity for market risk modelling in the banks. In the derivative pricing model validation space, weโ€™ve witnessed many candidates at the VP and Associate level being swooped up by the front office, resulting in firms finding themselves in a highly constrictive talent pool. On the back of many asset managers and reinsurance firms pumping investments into illiquid products, commercial real estate, and renewable energy, thereโ€™s been an appetite for talent with competency in private credit exposure.A lot of macro hedge funds are enlarging their teams and hiring Chief Risk Officers in abundance. With exponential growth and an acceleration in revenues across hedge funds and crypto firms alike, Risk Managers are in higher demand than ever before. We observed several crypto and fintech firms poach quants and risk talent on the analytical and development side. Today, talent have a plethora of options available and with new risk entrants constantly popping up in the market, competition for industry-leading professionals is heating up, thus we recommend to overhire because of the likelihood of high turnover."Operational & enterprise riskKhalid Figueira-Basheer, Principal Consultant at Selby Jennings"In operational risk, interestingly, hiring activity has increased at the first line. Historically, where professionals move from audit to the second line, now a lot of firms are embedding candidates into the business and upskilling them to the second line. As the banks accelerate their market share in consumer lending, with a whole suite of sophisticated products currently being released into the market, many firms are jostling for well-versed risk candidates that better understand these subject matters. In this area, salaries have been driven up at least 7-10% over the past 2 years, perhaps reflective of the scarcity of talent.On the enterprise risk side, some banks have been confronted with a lot of regulatory scrutiny, specifically on high profile concentre orders. Many firms are proactively building out their enterprise risk management teams to better define risk strategies and governance structures. In the current market, a large portion of banks are going through rapid transformation by restructuring their teams and overhauling first line of controls. Against this context, operational risk talent with a project managing background to analyse the function, put a plan in place, and spearhead the process, are a premium in the market."Credit riskBrendan Ferguson, Vice President at Selby Jennings"In a market thatโ€™s driven by both regulation and economic volatility, risk management is at the forefront of all hiring needs. During the onset of the global pandemic, many fintechs took market share, but today the banks are reversing this trend by scaling operations and offering more stability, better rewards, and lucrative payment structures. Weโ€™ve noticed several banking conglomerates merge with smaller companies, not only to take over their portfolios, but to expedite the process of hiring, which has resulted in a talent surge on the first and second line.Talent acquisition endeavours in consumer credit risk took centre stage this year. Across the credit risk lifecycle, market analytics, acquisitions, and portfolio management have driven a huge uptick in headcount. The point of sale (POS) space is equally as hot, with many firms looking to secure candidates that have a strong acumen in analytics and strategy components. With the proliferation of emerging technologies, fraud risk โ€“ particularly account takeover โ€“ is growing aggressively, and we expect a massive push in this vertical to sustain into 2023. AI and machine learning offers huge growth potential for model validation and risk, with a large demand for professionals across the executive level. Weโ€™re therefore instructing our clients to adopt a high degree of flexibility in their business models, especially in a candidate-driven market, as this offers the best chance to attract and retain talent."Risk management talent insightsCompensation is kingAcross the board, compensation is at an all-time high. Today, itโ€™s simply not enough to give candidates making lateral moves a 10% pay increase; largely a result of counteroffers which are intensifying competition. Thus, we are advising businesses to open their wallets and offer at least a 20% increase to avoid mission-critical talent being counteroffered. For clients, we recommend working out whatโ€™s being offered in the market, or use a talent specialist, such as Selby Jennings, to make peer comparisons and stay ahead of the curve.What job titles are in high demand?In market risk, professionals with varied levels of experience across the buy and sell-side are a hot commodity, with banks simultaneously increasing base salaries to secure this cohort. Looking at the buy-side, in-demand professionals that top the list attain technical fluency in factor modelling and research. Professionals that can create hedging strategies and look at risk from an offensive-minded approach are widely sought after. Hedge funds are mostly looking for professionals covering quant strategies, systematic equities, stat arb, volatility strategies, and systematic credit. In credit rates, professionals with an understanding of pricing models on the exotic derivates side and competency in hard mathematics and statistical calculus are in top demand.For operational risk, whilst previously individuals that could assess and manage risk were widely sought after, businesses require talent that can implement a holistic risk framework, driving solutions down to the root cause and mitigating firms falling foul of regulatory pressures. In terms of specific skillsets, weโ€™ve seen a variety of firms hire risk and controls for project finance, with most typically stealing talent from private equity and buy-side real estate firms. In addition, the algo and electronic trading market has gone from strength to strength, so most banks are searching for talent with an electronic trading controls background.On the consumer lending side in credit risk, professionals with 8-10 years of experience are commanding around a 300k base range. Within data analytics specifically, most banks are looking for industry-leading talent in the 5-8 years of experience range to scale up their portfolios. On the wholesale and model development front, corporate lending, leverage finance, counterparty credit risk roles, and hedge fund credit risks are highly desirable. Middle market corporate, underwriting, and portfolio management roles have seen a notable uptick, particularly across middle market M&A and leverage finance transactions.Geographical hot areas in the spotlightOn the market risk side, weโ€™ve been helping banks flesh out their teams in lower cost of living areas. Currently, thereโ€™s a bank-wide trend to move risk and second line roles to Dallas, which poses a challenge for businesses to relocate talented individuals from New York. On the buy-side, New York, Chicago, and the West Coast are desirable destinations. Additionally, Austin, Texas bucked the biggest growth trend with hedge funds setting up shop there; a major satellite trading and hedge fund district that is home to an exuberant tech talent pool.In operational & enterprise risk verticals, the hottest markets are New York, Dallas, Tampa, Charlotte, Baltimore, and Wilmington in Delaware. The consumer lending space has frankly taken off in Dallas; a lot of clients have expanded their ERM and operational risk teams to plug first and second line roles. Looking at credit risk jobs, the hiring hubs mirror operational risk, with the only significant difference being Phoenix; perhaps reflective of companies opening regional offices there and candidates attracted to a region with no income taxes.Are you looking for advice on how to navigate this new hiring landscape? Or are you a job seeker interested in making a career-defining next step? Get in touch with us, your a dedicated risk management staffing agency, or the wider financial services division at Selby Jennings for all your talent challenges.

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Risk-Management

Recruitment Landscape: Risk Management

โ€‹This year, hiring trends across the Risk Management market have undoubtedly been the most active that weโ€™ve witnessed since the immediate uptick post financial crisis. Larger financial institutions, Bulge Bracket Banks, Hedge Funds, Asset Managers, and FinTechs alike have been proactively hiring within Risk Management since March 2021, and it has created a highly competitive demand for specialist talent. To check out what Risk Management vacancies we have, click here.For the first time in many years, demand for talent exceeded supply, resulting in many organizations having to rethink their talent acquisition processes. Our latest report, Recruitment Landscape: Risk Management, dives into the driving factors behind the candidate-driven market:Submit your details below to download the full report:

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Risk-Management

Buy-Side Risk & Analytics Recruitment Market Update

Looking forward in 2021, the Selby Jennings Risk Management Recruitment team believes that both the interview and onboarding processes for talent will remain consistent with what has been seen in the last 12 months. In particular, the biggest challenges that clients are anticipated to face navigating talent acquisition this year are not related the virtual work environment; instead, the focus is on the ability to attract and secure senior talent. Risk teams will focus on offering opportunities worth moving for during a pandemic. and upskilling junior talent on virtual platforms quickly.Our new Market Update will cover topics around Buy-Side Risk & Analytics recruitment trends, including:The Status of Remote Work Vs. On-Site Work Across the Buy-Side Risk MarketExpected recruitment trends for the rest of 2021Top skillsets in demand across buy-side riskBonus pool changes from 2019-2020Delegating work in a remote capacityTips for job seekers in todayโ€™s marketโ€‹Complete the form below to download the full "Buy-Side Risk & Analytics Recruitment Market Update".

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Risk-Management

Credit Risk: Year-End Update

At the beginning of 2020, the consumer lending space had a promising outlook with a stable economy and steady hiring for the new year. However, due to COVID-19 and the subsequent economic volatility, hiring declined and consolidation was trending across the industry with thousands out of work and an unemployment rate that peaked at nearly 14.5%. The entire landscape of the retail lending space was swiftly changing, and many lenders were forced to accelerate their transition to fully digital operations. As restrictions were slowly reduced, unemployment rates decreased, and economy-wide confidence increased. Once again, there was a gradual shift towards hiring. As a result, we have seen an uptick in hiring across multiple areas of consumer credit and fraud risk analytics. This report will provide high level insight into trends that we are seeing across the credit risk vertical including: consumer & commercial credit risk, model risk and fraud risk analytics. Additionally, we provide some insights into what banks, credit card issuers, and FinTechโ€™s are doing from a hiring perspective to corner market share and outperform their competitors. Complete the form below to download the "Credit Risk Year-End Update" which includes: Implications and Trends from 2020 โ€“ Consumer Credit Risk Implications and Trends from 2020 โ€“ Wholesale Credit Risk 2021 Market Outlook & PredictionsComplete the form below to download the full "Credit Risk Year-End Market Update":

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Risk-Management

Career Advice for Risk Management Students

Selby Jennings has founded a great relationship with the UConn School of Business - Financial Risk Management Program to help their students better understand the career paths and opportunities in Risk Management. Recently our specialist recruiters,Charlie Vaca, Principal Consultant - Risk and Audit Lead and Matthew Stehl, Senior Recruitment Consultant - Risk, Analytics & Decision Science, had the opportunity to share industry and career insights with students to help them navigate the current hiring environment. Our team explored the career paths available and how broad the opportunities are in this particular space. This gave students a clearer picture of how they can achieve their career goals by broadening their career views in Risk Management. This also allowed them to understand in more context - what firms and hiring managers deem important while hiring during this time. These insights can help Risk Management students properly apply themselves and successfully enter a highly competitive industry.To learn more about risk management, take a look at the future of risk management, and to see what Risk Management vacancies we have, click here.Gaining an edge in the risk spaceWe've conducted career panels in the past for other universities, but this one was particularly unique given the state of the job market. Naturally, the students and future job seekers were very curious on how to navigate the current hiring market, and what they could do specifically to gain an edge. We used this opportunity to speak with the UConn FRM students on how to differentiate themselves during the modern interview process. We spoke at length about the need to be coachable given the current work from home environment, certifications and licenses to pursue while looking for jobs simultaneously, and the optimal way to depict their experience and track record on a resume. Hopefully, the pointers and advice we offered the students will lead to a higher overall placement rate for the FRM graduate program.ย It is no secret that COVID-19 has made the industry adapt to a new status quo and with that comes new skills that are in demand. With the industry institutions having to adapts to a work from home environment, it has changed the way the organizations socialize, train, and manage talent. Thus making candidates who are coachable, independent, and strong communicators stand out more and more. Increasing your chances of finding a career opportunity after graduationThe current job environment is not ideal for students recently completing graduation degrees, but it is definitely not a dead end. Our clients within financial services are still looking for the next future leaders to bring into their respective organizations. Additionally, based on our networking opportunity with the FRM class, students are hungry to enter the market as well. It is important to be organized and keep record of where you've applied, make sure that your CV accurately depicts achievements or positive results from previous internships or graduate projects, and be proactive and continue to network. We are still a ways away from in-person networking events, but students should use the platforms that are available to them and continue building out their networks though LinkedIn, Alumni boards, etc. It will not only increase your likelihood of finding employment now, but it will give you the ability to establish fruitful relationships that will help progress your career for years to come.For more useful tips around building your CV, take a look at12 top CV tipsโ€‹Certifications and licenses to pursueSpecifically, for students interested in pursuing careers in credit risk management, we definitely recommend pursuing certifications in SAS programming, AWS Machine Learning, or anything in the realm of data analysis. Credit risk is becoming an increasingly technical business line, so proficiency with technical languages like SAS or exposure to innovative concepts like machine learning will surely add value to your profile.For candidates pursuing careers in market or investment risk, we recommend increasing your exposure to Python and SQL. Risk Analysts are expected to manage significantly large data sets and SQL queries, so expanding your knowledge with SQL is pivotal. There are a number of 6 week certification courses that you can take, including those offered by Brainstation, Linkedin, Cornell, etc. Overall, getting technical certifications before achieving your first full time role will show hiring managers that you require less of a learning curve than others, which is extremely important considering the current remote onboarding process.Doing these types of events is always an honor and great opportunity to get some insight into the minds of the incoming talent pool. We look forward to connecting with more incoming talent at these events and being a valuable resources to UConn FRM grad program to help their students compete in this uncertain environment. To learn more about current job market trends in Risk Management, check out our free Risk Market Update 2020.Risk Market UpdateIf you are looking for your next opportunity and would like support in your job search, submit your resume below.

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Risk-Management

Risk Market Update 2020

Over the last year, there have been a number of new developments within the risk management space which have led to increased demand of hiring in risk management. The explosion of consumer lending & merchant lending fintechs across the financial landscape and the growth of secondary financial hubs has driven hiring for credit risk, data science, and risk management professionals. This growth has resulted in a limited supply of qualified talent.โ€‹Our new Risk Market Update breaks down the top talent and hiring trends including:Credit Risk TrendsMarket Risk Trends Operational Risk, Enterprise Risk & Internal Controls TrendsCompensation Report Complete the form below to download the full market update.

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