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 you’re interested in securing the very best Risk Management talent or you’re a professional looking for Risk Management jobs, the Selby Jennings’ Risk Management team connects exceptional talent to industry-leading clients.

​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 Jennings’ Risk Management team

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

Experience

Experience

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

Network

​Network

A vast, global network of the best, in-demand professionals, working with the world’s largest financial institutions to innovative fintech start-ups and beyond.​

Knowledge

​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.

Associate Hedge Fund Credit

Responsibilities Counterparty credit analyses (including direct client due diligence meetings) Authoring credit reviews Establishing counterparty credit ratings, counterparty credit limits Trade / transaction analysis and approval Exposure monitoring Industry and trend analyses Presentations to senior management Liaison between Credit, front office and other departments Qualifications 2+ years of counterparty credit experience covering funds (primarily Hedge Funds, experience with Private Equity Funds and / or Regulated / Pension Funds) Knowledge of capital markets products, (OTC derivatives, swaps, repo/reverse repo, stock loan/stock borrow, structured products, Futures). Strong communication skills Bachelor's Degree

Negotiable
New York
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IT Audit Manager

A leading Insurance Firm is looking to hire an IT Audit Manager to sit out of its office in Charlotte. This person will be responsible for managing end to end audits, overseeing testing, ensuring documentation is complete, and building strong relationships with stakeholders. This is a key hire for senior management and an exciting opportunity for candidates looking to make the pivot to more of a leadership role as you will also be responsible for mentoring junior staff and leading important team meetings. The ideal candidate must have a Bachelor's degree, 2+ years of experience overseeing IT Audit engagements and activities, and CISA certifications are preferred. Responsibilities: Manage end to end audit activities and oversee testing Collaborate with multiple teams across the bank and build strong relationships with stakeholders Identify control deficiencies & assist in creating and implementing action plans Mentor junior team members, lead meetings, ensure all documentation is accurate Qualifications: 3+ years of experience in IT Audit 2+ years of experience overseeing end to end IT audits hold a CISA/CISM/CIA or be willing to obtain the certification in the near future Excellent organization and project management skills Strong communicator who can work closely with senior leaders across multiple teams

US$110000 - US$130000 per year
Charlotte
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Buy Side Internal Auditor

A leading buy side firm is looking to hire an Internal Auditor to its team in Connecticut. This person will report directly to the Head of Internal Audit and will be responsible for overseeing a portfolio of audits across Finance, IT, Operational, etc. This is an exciting opportunity that will offer exposure to a number of senior stakeholders across the firm as well as other high-profile individuals. Given this exposure, the team is looking to bring in an excellent communicator who can effectively identify gaps/deficiencies, analyze findings, and communicate results in a concise and clear manner. The ideal candidate will have 3+ years of experience in Internal or External Audit, working knowledge of IT/Cybersecurity frameworks, and strong analytical/problem-solving skills. Previous buy side experience would also be a plus. Responsibilities: Help lead end to end audits, including planning, fieldwork, execution, reporting across a number of areas (Finance, IT, Cyber, Investments, etc) Identify control deficiencies, create and implement appropriate action plans Work closely with senior management and key stakeholders across the firm to gather evidence, ensure all documentation is accurate, and analyze findings Engage in strategic initiatives/projects to increase operational efficiency Qualifications: 3+ years of experience in Audit (Internal or External) Previous experience covering IT Audit and knowledge of IT governance frameworks (COBIT, NIST, etc.) strongly preferred Buy side or Big 4 experience would be a plus Strong analytical and organizational skills, ability to manage multiple projects at a time Excellent communication skills and the ability to work closely with senior management across the organization

US$140000 - US$185000 per year
New York
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Manager, Operational Risk

Operational Risk Manager Location: Chicago, IL Compensation 130-155k base I am currently partnered with a bank out of Chicago that is looking to grow out their Operational Risk Management function by adding a Manager. Ideal candidates have 8+ years of experience leading an ORM function and are familiar with GRC tools such as Archer. In this role, you would be responsible for leading a team in the execution of the firms ORM Framework, which includes conducting risk assessments, accurately identifying and reporting risks, and the development of the risk remediation plan in accordance with all relevant policies, regulations and procedures. Additionally, you would be responsible for spearheading the analysis of the firm's risk event data to evaluate and minimize operational risk exposure. Responsibilities: Oversee the enterprise-wide execution of the ORM framework Work closely with direct reports and provide coaching as necessary Collaborate closely with cross-functional teams to strengthen the firms ORM programs and governance Lead the oversight and testing of ORM functions such as third party risk management and business continuity Requirements: 8+ years of experience, ideally leading an ORM function Strong background in data/quantitative analysis in regards to the minimization of risk exposures People management experience Bachelor's degree in finance, business, or another related field Microsoft Office Proficiency Strong ability working independently Excellent written and verbal communication skills

US$130000 - US$155001 per year
Chicago
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AI/ML Model Validation Director

I am looking to speak with any experts in AI/ML models with experience in Model Validation, MRM, or Model Development who have worked in the 2nd line. I am working with a top financial institution who is looking to bring on someone with 10-15 years of experience to lead a small team and help booster the AI/ML capabilities of the firm. This team is led by one of the top leaders in the Model Risk who will be able to provide a strong runway and impact on the business. Location: Chicago, D.C., Dallas, NYC Responsibilities: Reviewing analytical methods and quantitative models for both new and existing products/portfolio. Serving as the Model Risk lead for model testing and validation. Developing validation reports based on rigorous theoretical and analytical reviews of models. Acting as an advisor and leader for team members, ensuring schedules are met and technical problems are resolved efficiently. Overseeing validation of credit decisioning models and participating in credit strategy review/challenge process. Managing validation of models utilizing modern ML/AI techniques such as Neural networks, Random Forest, and various boosting algorithms. Qualifications: Advanced degree in a quantitative field 10 years of professional work experience in quantitative analytics, model risk management, model validation, or model development Proficiency in at least one programming language such as Matlab, STATA, Python, C++, SAS, R Deep understanding of both statistical and AI/ML techniques.

US$250000 - US$350000 per year
Chicago
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1st Line Market Risk - Director

A major American investment bank is seeking a director for their front office market risk team. The 1st line team is responsible for market risk across all asset classes. Their business objectives span managing market risk for the global markets division with a focus on optimizing capital-based risk metrics to increase productivity. Responsibilities: Identify systemic and idiosyncratic risks across businesses and understand the firm's overall risk appetite and capital framework to effectively optimize and allocate risk appetite In depth understanding of RWA, VaR, FRTB work streams for the business Track performance of products within Markets regularly, and understand drivers of market movements across all asset classes, analyzing trends to create relative value and forward-looking views of material risks Improve on risk monitoring, control, and governance within the business Assess all risk/reward of transactions when making business decisions. Qualifications: 10+ years' experience in Macro/Cross-Asset trading or market risk Sell side equity structuring experience or 1st line market risk experience 2nd line front-facing market risk experience covering rates Exceptional understanding of Historical VaR and FRTB Regulatory experience across risk stripes Trading, Risk, or Structuring background

US$200000 - US$300000 per year + + Bonus
New York
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C++ Team Lead

What We Offer: Fast-paced environment Excellent international growth opportunities Exposure to world-class financial technologies and global markets Responsibilities: Collaborate on the development and enhancement of the back-end distributed system, enabling continuous firm-wide risk and P&L calculations. Work closely with Quants and Quant Developers globally to create pricing and risk analytics for our in-house pricing library. Contribute to the development of pre-trade analysis and market analysis tools for Portfolio Managers. Mandatory Requirements: Substantial experience in C++ (Expert understanding of the C++11/C++14/C++17 standards is a must). Previous experience leading/managing a team. Proficiency in developing and maintaining back-end distributed systems. Familiarity with source control systems (preferably Git). Bachelor's degree in computer science or another quantitative field (Master's degree is a plus). Excellent communication skills. Ability to work independently in a fast-paced environment. Detail-oriented, organized, demonstrating thoroughness and strong ownership of work. Additional Valuable Skills (Nice to Have): Experience with CI/CD. Familiarity with Linux platforms. Knowledge of Fixed Income analytics pricing and risk analytics. Exposure to Docker/Kubernetes. Understanding of financial mathematics and statistics. Previous work in the financial industry.

Negotiable
Les Genevez (JU)
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Stress Testing / ICAAP / Portfolio Risk (M/W/D)

Responsibilities: Lead cross-risk stress testing activities with specialists from various offices. Manage the Risk Division's role in ICAAP, ECB Stress Testing, and Recovery and Resolution Planning. Enhance methodologies for economic capital and stress testing. Maintain the Group's Risk Strategy and Risk Appetite Framework. Oversee the quarterly Risk ID process and set portfolio-level limits. Present management information on portfolio risks and stress testing. Develop policies and procedures for Risk Identification, Stress Testing, and ICAAP. Support regional and global Risk Division projects and regulatory requests. Qualifications: Bachelor's degree in Finance, Economics, Sciences, or Engineering. Experience in financial risk management, ideally in banking or consulting. Proven track record in leading change initiatives. Experience with financial regulators on topics like SREP. Strong understanding of ICAAP and Stress Testing. Skills: Strong organizational skills and ability to prioritize under pressure. Confident in proposing and challenging ideas, with strong influencing skills. Excellent written and verbal communication with diverse stakeholders. Fluency in English; German is a plus. Effective in a small team and able to coordinate with a wide network.

Negotiable
Frankfurt am Main
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Leader of Quantitative Risk Controlling (m/f/d)

We are currently seeking a Leader of Quantitative Risk Controlling in Stuttgart with our client in the banking sector. Lead and manage a team of five experts responsible for developing and adapting internal rating models for credit risk in accordance with Basel and IFRS 9. This includes validation, model backtesting, credit risk monitoring, analysis, and risk planning. Oversee and prioritize projects and tasks by setting clear objectives and efficiently allocating resources. Develop and implement quantitative risk models for credit risk. Assess and validate risk models to ensure compliance with regulatory requirements, group standards, and internal guidelines. Identify key risk drivers and trends, collaborating with the credit department to analyze the relationships between operational credit risk measures and their impact on risk provisioning and cost development according to IFRS and HGB. Recommend measures for risk optimization and control. Create and refine credit risk planning in collaboration with the credit department and financial controlling, including conducting scenario and stress tests. Lead and participate in management and group-level committees. Engage in internal and external audits, ECB inspections, and the approval process for models. Participate in bank and group projects. Your Qualifications: Completed studies in mathematics, statistics, industrial engineering, or economics with a quantitative focus. Several years of leadership and professional experience in quantitative risk management at a bank, insurance company, or auditing firm. Team-oriented working style with the ability to thrive in a dynamic environment. High degree of responsibility and initiative. Excellent communication and presentation skills, with the ability to explain complex issues clearly. Strong knowledge of quantitative methods and modeling techniques. Programming experience in SQL, SAS, and ideally R and Python. Strong analytical skills and problem-solving abilities. Ability to make decisions based on model-derived insights. In-depth knowledge of IRB regulations and IFRS 9. Project experience in regulatory projects. Proficiency in English and German. Advanced MS Office skills. If you meet the requirements above and are interested in this exciting opportunity, please submit your application today. Our client offers a competitive salary and benefits package, as well as opportunities for career advancement within a dynamic and innovative international bank. For further information, please apply here or get in touch at: +4930166340768

€80000 - €100000 per annum
Stuttgart
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Risk Controlling Reporting & Planning (m/f/d)

We are currently seeking a Risk Controlling Reporting & Planning for the Quantitative Risk Controlling department in Stuttgart with our client in the banking sector. Your Responsibilities: Collaborate with model developers and the credit department to identify key risk drivers and segments. Analyze the relationships between operational credit risk measures and their impact on risk provisioning, and develop risk costs according to IFRS and HGB. Regularly report developments, causes, forecasts, and recommendations to various local and group committees. Create and continuously optimize credit risk planning in close cooperation with the credit department and financial controlling, including scenario and stress tests. Determine action measures to optimize risk costs and integrate them into risk management. Conduct ad-hoc evaluations, scenarios, and portfolio analyses. Monitor and analyze the dunning portfolio and rescheduled loans. Document data lineage and risk indicators, implement group data requirements, and ensure monthly submissions. Participate in cross-departmental and group projects. Your Qualifications: Completed studies in statistics, (business) mathematics, physics, industrial engineering, or economics with a focus on risk management or statistics. Solid professional experience in risk controlling or auditing. Strong analytical skills and a high affinity for numbers. Programming experience (SQL, ideally Python, R, or SAS). Good knowledge of IRB regulations and IFRS 9. Project experience in regulatory projects. Proficiency in English. If you meet the requirements above and are interested in this exciting opportunity, please submit your application today. Our client offers a competitive salary and benefits package, as well as opportunities for career advancement within a dynamic and innovative international bank. For further information, please apply here or get in touch at: +4930166340768

€70000 - €90000 per annum
Stuttgart
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Director, Volatility Risk Manager

A Multi Strategy Hedge Fund is hiring a Director-level Vol Risk Manager in their NYC office. This hire will focus on risk managing volatility across all strategies. Daily interaction with PMs and Traders to optimize strategies, design hedges and establish hedge/risk frameworks, and manage exposure are the core responsibility. This individual is expected to regularly interact with the Chief Risk Officer & Chief Investment Officer to discuss macro trends, PnL movement, risk limits, and hedge strategy overall. The fund wants this risk manager to serve as a partner to the front office. It's a high visibility/high conviction role - the ideal candidate needs to collaborate with the PMs to take smart risks, but can't hesitate to face off with them when that risk goes the wrong way. Requirements: 7+ years of front office risk management experience Hedge fund/prop trading risk background and/or trading experience preferred Expertise risk managing volatility - index options + dispersion strategies, futures, commodity futures and options, exotic rates derivatives, etc. Proficiency in Python/SQL is necessary - analysis, scripting, tool building Building and maintaining strong relationships with PMs and Traders

US$200000 - US$250000 per year + bonus
New York
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Enterprise Risk Manager (Capital and Business Risk Management)

**Enterprise Risk Manager - 2LoD Capital and Business Risk Management** Are you a seasoned professional passionate about risk management within the financial sector? We are seeking an Enterprise Risk Manager to join our client's dynamic team, focusing on Second Line of Defense (2LoD) for capital and business risk oversight. This permanent position offers a fantastic opportunity to advance your career in one of the Netherlands leading Leasing organizations. The successful candidate will play a pivotal role in shaping enterprise-wide strategies that mitigate risks while supporting sustainable growth objectives. You'll be at the forefront of ensuring robust frameworks are enforced across all levels - safeguarding both our interests and those we serve. Responsibilities include: - Developing comprehensive policies around capital allocation. - Conducting thorough assessments related to leasing operations. - Collaborating with various teams including Amsterdam-based counterparts when necessary. - Ensuring compliance with regulatory standards as part of an effective risk team structure. We value skills such as: - Regulatory Knowledge: An understanding or experience working with renowned regulatory frameworks. - Leasing Knowledge: Familiarity with lease structuring, financing options, credit considerations which can significantly contribute toward informed decision-making processes regarding asset investments & liabilities management. - Risk Management Expertise**: Ability not just identify potential threats but also devise strategic plans aimed at reducing vulnerabilities without compromising operational efficiency is crucial for success here; adeptness navigating complex regulations supports this endeavor further still! Join us if you're ready take on challenges head-first enabling businesses flourish despite uncertainties today's markets might present!

Negotiable
Amsterdam
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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 Industry​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.​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 Bank’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 you’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.​Don’t miss these essential insights - download your copy of the Selby Jennings 'Risk on the Rise: Mastering the risk talent market' report 2023 here:​

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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 “How can we differentiate ourselves from our competitors to attract and retain the best talent?”Download your copy of the report Growing demand for talented risk management individuals The financial services landscape’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.What’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 they’re not recruiting.Being a serial networker isn’t just good for clout on LinkedIn—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. “It doesn’t matter if it’s risk or any other role, a truism is that people will leave,” Marmor adds. “So you always need to have a plan and just assume the worst and be ready for that to happen.”Sourcing risk talent is only going to get more competitive with timeIt’s perhaps easier to answer the question of which areas of the banking industry aren’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.“Three areas we’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,” 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 management—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 won’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 don’t realize that until it’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 isn’t managed properly, however, companies can face millions—sometimes even billions—in fines and sanctions or collapse entirely, like in the case of SVB. “It can cost an organization up to billions of dollars if they don’t have the right talent and processes in place,” says Cooke. “It’s 100% necessary to make the business run effectively and make smart decisions.”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.​

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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 “How can we differentiate ourselves from our competitors to attract and retain the best talent?”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.​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 today’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.​​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.​A trend that has emerged in quantitative risk is FRTB’s, which has driven hiring activity for market risk modelling in the banks. In the derivative pricing model validation space, we’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, there’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 that’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. We’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 – particularly account takeover – 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. We’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, it’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 what’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, we’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, we’ve been helping banks flesh out their teams in lower cost of living areas. Currently, there’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

​This year, hiring trends across the Risk Management market have undoubtedly been the most active that we’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 today’s market​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 FinTech’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 – Consumer Credit Risk Implications and Trends from 2020 – 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. 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 tips​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.​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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