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 quant 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 quant recruitment 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 quant 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 quant recruiter specialist in Risk Management, 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.

Trading Risk Manager - Gas & Power

Responsibilities: Actively managing the firm's risk exposures through regular meetings, analysis and insights. Improve risk analytics for the whole function through scenario analysis and stress-testing models. Focus on the risk and activities of all Gas and Power Trading PMs as well as overall such risk across the Global Macro Conduct back testing of risk metrics - including VaR and sensitivity/scenario analysis Provide input into the definition of risk policies and procedures working as a commercial partner to support and challenge the business in day-to-day trading as well as long term strategic deals for business. Perform complex quantitative and qualitative analysis for PMs. Developing and advancing stress testing and VaR frameworks. Developing and maintaining a framework for capital allocation to maximize risk-adjusted returns and profitability at the various business levels and at the firm level. Ability to use trading concepts and knowledge of Gas, Power markets to identify the main drivers of change in prices, price relationships and their associated Risks. Tasked with obtaining approval to trade new structured products by collaborating with the internal departments, producing reports outlining the characteristics and underlining the potential risks. Produce standard middle office reports on structured products, including P&L and explanation, limit reports and VaR. To aid in the development and implementation of the automated and infrastructure projects for the use risk managing and strategy formulation. Lead research efforts to develop innovative risk management approaches, tools and analytics by leveraging the collective knowledge of the platform to improve returns. Qualifications: A degree in Quantitative Finance, Mathematics, Physics, or other science disciplines. 5+ years' experience as a Risk Manager or a Portfolio related to US and European Gas & Power Markets Analytical rigor in terms of pricing models, risk sensitivities and the best practice for risk aggregation in a portfolio context Strong knowledge of Physical and Financial assets for Gas & Power Strong technical ability using Python for coding, modelling and implementation purposes. Ability to understand and apply risk management concepts, including stress-testing, value-at-risk, liquidity adjusted VaR and scenario analysis. Previous experience working in a Trading house, Hedge Fund or Investment Bank on a commodities desk. Strong understanding of options, mathematics and how they are priced

Negotiable
City of London
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VP Front Office Liquidity/Funding

An International Investment Bank is hiring a Vice President to join the Front Office Liquidity/Funding team in New York. This individual will serve as the key point of contact in the front office for Securities Financing, Cash and Synthetic Prime Brokerage, Repo, and Collateral Treasury business heads. This role is essential to daily operations, assisting the broker dealer side of the business to maximize trading potential and minimize liquidity risks. This individual will be empowered to work directly with Repo and Collateral Treasury desks and execute transactions when additional liquidity is required. The ideal candidate needs to think and act quickly in a front office environment in order to optimize cash on hand and fund complex trades across multiple desks. With this hire, the bank is looking to increase front office performance across the board, so the ideal candidate needs to build and maintain several key relationships with senior stakeholders. Qualifications: 5+ years of experience in trading, structuring, risk management, funding, liquidity, markets treasury or ALM role Strong understanding of financial markets and impacts of intraday market moves Excellent quantitative and analytical skillset Experience building relationships with multiple traders, desk heads, and other senior management Familiarity with RWA/capital requirements and regulations

Negotiable
New York
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Sr. Risk Manager - Hedge Fund

A leading Quantitative Chinese based Hedge Fund is looking to make their first Risk hire in New York City. This fund relies on experienced Quants and Electronic Trading to gain an edge in the markets. The ideal candidate must have a background in Equities, Options, and or Global Macro products paired with an interest in problem solving and taking on new challenges. Being the first hire Risk hire in the US, this individual will play a pivotal role in shaping the US Risk Framework, and will serve as a focal point to the business as they grow their operations in the US. Ideal hires will have 5+ YOE at an Investment Bank or Hedge Fund in a Risk Management function, and an in depth knowledge of Equities, EQ/IR/FX Options, and other Macro products. It is preferred that candidates have a higher level education in Math, Quantitative Finance, Physics, Statistics, or another Quantitative function. Responsibilities: Enhance Risk Framework for Firm's Strategies in US Equities and Options Markets Enhance in house risk models to be used by PMs and explain risk metrics such as VaR and Risk Not-in VaR Engage with PM's to optimize investment strategy and portfolio construction Design innovative stress testing scenarios from scratch Partner closely with Quants to assist on Risk Research and Opportunities in US Markets Explain the drivers of performance to senior management and PMs Qualifications: 5+ YOE as a Risk Manager or Quant Risk Manager at an Investment Bank, Hedge Fund, or Prop Trading Firm Expert level knowledge in US Equities, EQ/IR/FX Options, Global Macro Working ability in Python, SQL, or other language Must be able to speak Mandarin

US$200000 - US$400000 per year
New York
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VP Internal Audit, Firmwide ERM

VP, Internal Audit - Enterprise Risk Management Location: NYC Compensation: 170-225k base I am currently working with a Top American Investment Bank that is looking to add an VP to their Enterprise Risk Management Internal Audit group which will sit out of their New York City office. Ideal candidates have 8-10 years of experience within Internal Audit and are familiar working with firmwide governance, operational and enterprise risk, and controls principles. In this role, you will manage a team that will be responsible for the planning and execution of audit testing to help support and improve the firm's ERM and controls framework. Responsibilities: Manage audit engagements related to ERM, governance and controls, oversight structures and business risks Review the results of risk assessments and ensure that they are compliant with regulatory requirements Communicate audit findings with senior management and develop plans to mitigate and prevent risks Requirements: 10+ years in Internal Audit, Risk Management, or another control related function Experience monitoring firmwide transformation projects Experience managing a team and overseeing audit processes Strong written and verbal communication skills Bachelor's degree in finance, accounting, or another related field

US$170000 - US$225000 per year
New York
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VP Credit Risk Analyst

I am currently working with a well know trading platform that is building out a new centralized Credit Risk team. This is an exciting role that sits within the front office and consists of analyzing balance sheets, cash flow statements and trade agreements. The ideal candidate would be responsible for giving clients and partners ratings, spotting trends as well as using data to analyst the markets, the clients and portfolio investments. This team sits on the trading desk and works with the due diligence and trading teams. Knowledge in venture capital, derivatives trading and cryptocurrency. This a growth oriented role with the ability to move upwards quickly. This candidate will likely have 5-7 years of experience from a brokerage firm or bank with a CFA and has quantitative skills with SQL or Python. If you're looking for an opportunity that allows you to drive the business's decisions, works closely with traders, and has direct communication with senior stakeholders, this is for you! BONUSES ARE BEING PAID! RELOCATION ASSISTANCE IS PROVIDED!

US$170000 - US$210000 per year
United States of America
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Sr/Lead Model Risk Analyst

Some specific responsibilities include: Model Validation: Lead comprehensive validations of financial models, including credit risk, valuation, mortgage prepayment, and ALM models. Conduct quantitative analyses, evaluate model theory, perform backtesting, benchmarking, stress testing, and assess model controls. Validation Reporting: Generate detailed validation reports outlining the approach, conducted analyses, and conclusions. Present findings and recommendations to model owners and stakeholders. Model Development: Take a leading role in developing benchmarking models and data analytics, including machine learning models for validation, continuous monitoring of model performance, and effective risk management. Risk Reviews: Conduct both annual and ad-hoc risk reviews and quarterly assessments of financial models within the bank's inventory. Expert Advisory: Offer expert insights into modeling and model validation challenges and provide actionable recommendations to model owners and users.

US$104000 - US$130000 per year
United States of America
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Sr. Model Risk Analyst

Role Overview: They are currently seeking a Compliance Model Validation Specialist to join the Risk Management Department within the Americas Division of our client. In this role, you will lead the validation of Compliance models and fraud detection models for our client's U.S. operations. Your responsibilities will encompass assessing model design, input data quality, model performance, ongoing monitoring, and more. We require someone with expertise in AML, fraud analytics, data analytics, model tuning, data segmentation techniques, and machine learning. Strong teamwork and problem-solving abilities are highly valued. Role Objectives: The main objectives of this role include conducting comprehensive validations and reviews of Financial Crime Compliance models. You will be responsible for identifying any model deficiencies and providing practical recommendations. Additionally, you will be tasked with developing and maintaining documentation templates, testing packages, and tools to streamline the validation process. This role will also involve supporting audits and examinations related to compliance and fraud risk models. Staying current with compliance and fraud regulations and industry best practices is essential. Qualifications and Skills: We are looking for candidates with a Master's or equivalent degree in Statistics, Mathematics, Engineering, Computer Science, or related fields. Ideal candidates should have at least 2 years of experience in model validation, model development, risk analytics, or a similar field. Proficiency in Python and SQL programming is required. A solid understanding of the financial industry and its various business lines is essential. The successful candidate will possess strong reasoning skills, analytical capabilities, and effective communication skills. Previous experience in compliance analytics, compliance/fraud model validations, or related areas within financial institutions or consultancies is a plus. Familiarity with Oracle Database, Actimize SAM, and Fircosoft is advantageous.

US$160000 - US$170001 per year
United States of America
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Senior Model Validation Specialist

Role Overview: They are currently seeking a Compliance Model Validation Specialist to join the Risk Management Department within the Americas Division of our client. In this role, you will lead the validation of Compliance models and fraud detection models for our client's U.S. operations. Your responsibilities will encompass assessing model design, input data quality, model performance, ongoing monitoring, and more. We require someone with expertise in AML, fraud analytics, data analytics, model tuning, data segmentation techniques, and machine learning. Strong teamwork and problem-solving abilities are highly valued. Role Objectives: The main objectives of this role include conducting comprehensive validations and reviews of Financial Crime Compliance models. You will be responsible for identifying any model deficiencies and providing practical recommendations. Additionally, you will be tasked with developing and maintaining documentation templates, testing packages, and tools to streamline the validation process. This role will also involve supporting audits and examinations related to compliance and fraud risk models. Staying current with compliance and fraud regulations and industry best practices is essential. Qualifications and Skills: We are looking for candidates with a Master's or equivalent degree in Statistics, Mathematics, Engineering, Computer Science, or related fields. Ideal candidates should have at least 2 years of experience in model validation, model development, risk analytics, or a similar field. Proficiency in Python and SQL programming is required. A solid understanding of the financial industry and its various business lines is essential. The successful candidate will possess strong reasoning skills, analytical capabilities, and effective communication skills. Previous experience in compliance analytics, compliance/fraud model validations, or related areas within financial institutions or consultancies is a plus. Familiarity with Oracle Database, Actimize SAM, and Fircosoft is advantageous.

US$130000 - US$150000 per year
United States of America
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Market Risk Analyst

My client is an energy and commodities propriety trading firms with locations across the US. As a company they specialize in a few different areas across commodities trading, asset management, renewable energy, infrastructure, and environmental markets. They operate essentially like a commodities hedge fund, and are looking to bring on a Junior analyst within their trading operations in NYC. We are working directly with their Director of Market and Liquidity Risk in NYC. They are looking for a candidate with strong experience working around large data sets, great technical skills particularly with Python and SQL. Financial products knowledge in options, forwards, and futures is preferred. This hire will work directly with the trading team in a fully integrated risk/trading collaborative environment. Requirements include: Experience working across large data sets Python, SQL Math Finance, Financial Engineering, Data Science degree preferred Energy/commodities knowledge preferred, with fixed income/rates knowledge as well 0-3 years experience, great opportunity for a recently graduated masters candidate or a junior analyst at a financial services firm with direct experience working hands on technically with Python/SQL Knowledge of recursion factors in Python

US$90000 - US$150000 per year
New York
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AVP or VP Healthcare Lending

Key Responsibilities: Monitor borrower performance, financial health, and credit risks for assigned relationships. Analyze borrower-provided financial reports, identifying trends and key indicators. Collaborate with senior management to communicate identified credit risks and recommend strategies. Manage loan modification processes, liaising with clients, legal counsel, and internal stakeholders. Oversee loan quality, addressing upcoming maturities, past dues, and critical asset management. Lead risk assessment activities, ensuring thorough reviews of assigned borrower portfolios. Efficiently allocate and manage resources, including collaboration with supporting departments. Guide and mentor analysts while maintaining timely completion of tasks. Actively contribute to Portfolio Management meetings and facilitate analyst participation. Analyze and approve asset-based revolver borrowing bases. Maintain loan documentation in accordance with bank procedures and guidelines. Stay updated on healthcare industry trends and regulatory changes. Contribute to scalable portfolio monitoring infrastructure. Participate in special projects and other duties as needed. Qualifications: Bachelor's Degree from a recognized 4-year institution. Minimum of 7 years' experience in portfolio management or lending within banking or finance. Strong understanding of finance and accounting principles. Proficiency in Excel and Microsoft Office suite. Familiarity with loan documentation and legal processes. Excellent analytical and critical thinking skills. Effective communication and interpersonal abilities. Detail-oriented and well-organized with multitasking capabilities. Positive attitude, adaptability, and strong teamwork skills. Alignment with our mission and responsibilities outlined in the job description.

US$140001 - US$200000 per year
United States of America
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VP Credit Analyst

Role and Responsibilities: As a VP Credit Analyst, you will collaborate closely with Relationship Managers to manage all aspects of credit-related activities, including underwriting, transaction analysis, risk assessment, and portfolio maintenance. Your role will involve working on medium to large-sized debt financings and coordinating with a syndicate of banks. Additionally, you'll be responsible for maintaining our credit risk models and reports. Key Performance Indicators: Your success in this role will be measured by your ability to coordinate with Relationship Managers and product teams, analyze transactions efficiently, communicate credit assessments clearly, and work effectively within a team. You will also regularly review and assess portfolio risk. Qualifications: To be eligible for this role, you should hold a Bachelor's or Master's degree in finance or a related field. A minimum of 8 years of experience in credit and lending is required, and having formal credit training from a major money center bank is considered a plus. Employee Benefits: They offer a comprehensive benefits package that focuses on your well-being, covering health and wellness, retirement and savings, and work-life balance. This includes medical, dental, and vision plans, a 401(k) plan with a matching contribution, generous paid time off, and programs that support community involvement.

Negotiable
Chicago
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Director - Legal Entity Risk Management

My client is a growing international investment bank looking to expand their US-base operations in NYC. The team is responsible for monitoring risks across their US business line, looking to add a new Director, Head of Stress Testing within their Risk Platform Management Team. This group focuses on regulatory-related matters and projects across their US operations. The Legal Entity Risk team is a sub sector of their broader regulatory risk group tasked with the management of enterprise-wide risk framework. Responsibilities include: Develop a Legal Entity Risk Management program for the Banks regulated entities such as their broker-dealer, swap dealer, and securities based swap dealer Maintain the ongoing review for the risk management program Lead regulatory reviews and oversee submissions to governing bodies Notify regulators of any changes in models that were previously approved by those regulators Develop a system /maintaining a framework for monitoring those model changes for regulatory notification Track ongoing regulatory reviews and make sure all deliverable are addressed in a timely fashion Submit monthly market and credit risk metrics to appropriate regulators Manage one direct VP level report Qualifications include: Masters degree Significant Banking/Regulatory knowledge Knowledge of the oversight process relating to FRB, CFTC, FINRA, SEC, and other regulatory agencies

US$145000 - US$225000 per year
New York
Apply

Risk Management News & Insights

Risk on the Rise: Mastering the risk talent market Image
Risk-Management

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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hiring advice

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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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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Risk-Management

Europe: The Future of Risk Management

​The Risk Management space is facing a particularly complex hiring landscape due to unpredictable global markets, rising inflation, a cost-of-living crisis, remote working and changing regulations and policies amongst financial institutions.Despite these challenges, there is still strong demand for top talent. Moves during bonus season, and a push towards enhanced diversity representation in the Financial Services industry means hiring is still extremely busy, and will continue to be across European Risk Management for the foreseeable future.The Future of Risk Management report will provide insights on the top talent trends you need to know about, including the 4 key trends currently influencing the sector and the Risk Management talent landscape, with deep dives into Financial services hot-spots in Europe.​Download your copy of the report by completing the form below:​

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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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