Risk Management Talent Recruitment | Selby Jennings

Selby Jennings: A Specialist Talent Partner in Risk Management Recruitment

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.

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

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

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

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

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.

VP Audit, Capital Calculations

Job Title: VP, Technology Audit, Capital Calculations Job Description: As a Technology Audit professional specializing in Capital Calculations, you will lead audits focused on evaluating and ensuring the reliability, accuracy, and efficiency of key system applications and processes. This role involves assessing the quality of data, reviewing data flow and calculation methodologies, and examining general technology controls such as user access, data retention, and software management practices. Key Responsibilities: Audit Planning and Execution: Define the scope and plan of audit projects, focusing on technology-driven processes. Conduct thorough reviews of systems and assess risks associated with financial and regulatory reporting. Risk Assessment: Analyze potential risks in technology applications and evaluate the design and operational effectiveness of implemented controls. Documentation and Reporting: Prepare detailed documentation of audit procedures, findings, and results. Collaborate with local and global leadership to communicate outcomes effectively. Team Oversight: Review the work of audit team members to ensure quality and compliance with standards. Provide guidance and support to team members during engagements. Follow-Up: Monitor the resolution of audit findings, ensuring corrective actions are implemented and risks are mitigated effectively. Qualifications: Basic Requirements: Bachelor's or Master's degree in Information Technology, Computer Science, or a related field A minimum of 10 years of experience in technology auditing, particularly within financial services Proven ability to manage complex audit engagements or technology projects Strong leadership and team management skills Excellent verbal and written communication abilities Expertise in technology audit practices, including knowledge of system architecture, operating systems, databases, and software development life cycles Strong multitasking and time management capabilities Preferred Qualifications: Experience with coding languages such as Java, SQL, Python, or C++ Proficiency with data analytics tools and methodologies Professional certifications such as CISA or similar industry credentials Familiarity with financial products and services

US$160000 - US$180000 per year

Dallas

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Director Credit Risk

Responsibilities: Advise top-tier financial institutions on cutting-edge credit risk management topics Conduct comprehensive credit regulatory assessments Execute credit risk strategies to tackle market challenges head-on Oversee multiple high-impact projects and maintain client relationships Perform credit underwriting and cash flow modeling Preferred Qualifications: 10+ years of experience Experience managing credit risk processes and performing underwriting Leadership experience

£215000 - £300000 per year

New York

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AVP/Associate Special Assets Workout

Key Responsibilities: Manage Distressed Loans: Oversee a portfolio of distressed corporate loans (including wholesale and project finance) both domestically and internationally. These may involve complex situations such as syndicated loans, multiple creditors, or various levels of the capital structure. Credit Analysis & Monitoring: Regularly analyze borrower's financial health (including financial statements, cash flow projections, and key performance indicators) to determine the viability of the loan and potential for restructuring. Loan Restructuring: Propose strategies for restructuring distressed loans, including negotiating terms or selling the loans to minimize losses. Develop & Implement Action Plans: Create action plans for each distressed credit, including potential liquidations, loan sales, or continued financing. Reporting & Communication: Prepare detailed reports on loan performance, including forecasts, risk ratings, and proposed solutions. Communicate regularly with senior management about the portfolio's performance and risks. Legal & Negotiations: Work with internal and external legal teams to negotiate loan amendments, waivers, or settlements. Handle negotiations with borrowers and other creditors. Portfolio Management: Ensure proper accruals, reporting, and ongoing monitoring of each loan's performance. Leadership: Mentor and guide junior team members. Provide on-the-job training and supervise their work on assigned accounts. Compliance & Risk Management: Ensure all actions adhere to company policies, regulatory standards, and risk management guidelines. Qualifications: 2-3 years of experience in workout management for complex corporate loans or 3 years in a turnaround consulting firm. Bachelor's degree in Business, Finance, Accounting, or related field; MBA preferred. Skills: Strong understanding of financial analysis, loan documentation, and banking guidelines. Expertise in cash flow modeling, credit analysis, and structuring loan workouts. Ability to negotiate complex loan restructurings and settlements. Strong communication skills, both written and verbal. Proficiency with financial software tools like Excel, Bloomberg, and Moody's. Ability to manage multiple tasks and work independently.

US$115000 - US$150000 per year

New York

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Senior Counterparty Credit Analyst

Responsibilities: Support Credit Risk Team by performing credit risk analysis, research, and reviews of the Bank's counterparties Oversight, governance, and analysis of credit risk within the Mortgage Purchase Program Assist with managing and evaluating Bank policy updates to ensure alignment the Bank's risk appetite Evaluate credit risk of proposed new capital markets and mortgage counterparties Obtain and optimize data from industry sources (S&P Global Market Intelligence, Bloomberg) Requirements: Finance/business/quantitative undergraduate degree 5 years of experience in credit risk analysis within the banking or financial services industry Experience with industry data sources, such as S&P Capital IQ, NRSRO ratings services, and other financial/industry data Experience with Power BI

US$83000 - US$110000 per year

Indianapolis

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Audit Manager - Financial Risk

Audit Manager, Financial Risk Location - NYC, CLT, or Philadelphia Compensation - 100-150k I am currently working with a Global Investment Bank to grow out their Internal Audit team, specifically by adding an Audit Manager within their Financial Risk Management Team. Ideal candidates have 4+ years of experience in Internal Audit, ideally covering a market risk, capital risk, liquidity, treasury or capital markets function. Additionally, the team is ideally looking for someone who has strong regulatory experience and/or experience functioning in an AIC capacity. Responsibilities: Plan and execute a variety of audit engagements of second-line financial risk Act as a SME, interacting and assisting business leaders and stakeholders as needed Guide, coach, and oversee audit staff with the execution of the audit plan Contribute to the planning, development, and continuous improvement of the overall audit strategy Requirements: 4+ years of experience in Internal Audit, ideally covering a financial risk function Ability to work independently Familiarity with relevant regulations/standards Bachelor's degree in Finance, Business, Economics, Accounting or another related field Excellent written and verbal communication skills

US$100000 - US$150000 per year

New York

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Audit Manager I - Market Risk

US$100000 - US$150000 per year

New York

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Legal Counsel

Legal Counsel - Customer Team, Vice President Are you ready to step into a role that champions due diligence and compliance at the forefront of consumer banking? We are seeking an astute Legal Counsel for our customer team. This is not just another job; it's a chance to become part of our mission towards delivering exceptional service while navigating through complex legal landscapes. As Legal Counsel, your primary focus will be on: Leading strategic support to enhance our customer's experiences Advising on servicing intricate client needs and applying Consumer Duty principles effectively. Handling contentious complaints by setting decisive strategies toward resolution. Identifying emerging risks proactively and ensuring DI SP compliance alongside remediation activities. The ideal candidate should possess: A qualification as solicitor, barrister or legal executive Independence in working across various products/services Proficiency in risk identification/management Critical skills expected include but are not limited to: Risk control awareness Adaptability during change/transformation processes Strong business acumen coupled with strategic thinking abilities Digital technology insights Join us if making authoritative calls rooted deeply within ethical frameworks aligns with your professional aspirations!

Negotiable

Birmingham

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Market Risk - EQD Analyst or Associate

About the Organisation Our client is a forward-thinking organisation that values flexibility, collaboration, and a strong sense of community. This role offers a hybrid working model, with a balance of office-based teamwork and remote working flexibility. Department Overview This position sits within a dedicated Trading Risk Management team responsible for overseeing market risk and product control functions. The team supports a wide range of business activities, including financial markets and treasury operations. Acting as a second line of defence, the department partners with front-office teams to analyse trading performance and manage market risks across various financial products. The role specifically focuses on market risk oversight for equity derivatives. Key Responsibilities Monitor and analyse market risk exposure for equity derivatives on both a daily and long-term basis. Assess market developments and their potential impact on trading portfolios. Collaborate closely with front-office teams to understand trading strategies and pricing models. Ensure compliance with trading limits, reviewing transactions that exceed established thresholds. Prepare and deliver detailed profit and loss (P&L) analyses, providing insights to stakeholders. Continuously improve desk processes, seeking efficiency and strengthening risk controls. Participate in global and local initiatives to adapt systems and processes to new regulations. Qualifications: A degree in a quantitative field, such as mathematics, engineering, physics, or econometrics. Proficiency in tools such as Microsoft Excel and related software. 3-5 years of experience in trading, risk management, or product control functions. Familiarity with risk management concepts, such as VaR, Greeks, and regulatory frameworks. Experience with programming languages (e.g., Python, VBA) and database queries (e.g., SQL) is a plus. Strong analytical and problem-solving abilities. Comfortable working with complex data sets and technical processes.

Negotiable

City of London

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AVP Legal Counsel

AVP Legal Counsel Opportunity in Dynamic Banking Sector Introduction: Are you ready to take on a pivotal role within the vibrant financial services sector? We are seeking an ambitious and astute legal professional eager to step into the position of Assistant Vice President Legal Counsel. This is a permanent opportunity that offers not only stability but also places you at the heart of commercial banking operations, where your expertise will guide our firm through complex legal landscapes. Key Responsibilities: - Provide comprehensive legal advice across various aspects of banking law - Navigate regulatory requirements ensuring full compliance with relevant legislation - Draft, review, and negotiate commercial contracts safeguarding company interests - Act as a strategic partner by advising senior management on potential legal risks Required Skills: Legal Expertise: Your command over banking laws must be exemplary; demonstrating proficiency in addressing industry-specific regulations. Commercial Acumen: A keen understanding or experience within Commercial Banking ensures effective counsel related to business transactions. Financial Services Knowledge: Familiarity with Financial Services provides insight necessary for navigating this dynamic environment efficiently. Desirable Attributes: Strategic Mindset: The ability to foresee long-term impacts while managing immediate challenges effectively distinguishes leading counsellors from their peers. Communication Prowess: Articulate complex concepts clearly both verbally and written form facilitating cross-departmental collaboration seamlessly. This unique position demands sharp analytic skills paired with robust knowledge tailored towards fostering sound decision-making processes underpinned by solid legal grounding. If shaping policy decisions alongside other thought leaders excites you - Apply now!

Negotiable

Birmingham

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Spezialist / Experte (m/w/d) - Meldewesen FinRep und Liquidität

Deine Aufgaben: Entwicklung und Umsetzung regulatorischer Anforderungen für FinRep- und Liquiditätsmeldungen Unterstützung bei der IT-Implementierung und Optimierung der Reportinglösungen bis zur Nutzung Planung und Steuerung der Umsetzung regulatorischer Anforderungen im Bereich Regulatory Reporting für über 350 Filialen Erarbeitung und Beschreibung zusätzlicher Meldeanforderungen der EZB für große Filiale der Gruppe Fachliche Zusammenarbeit mit den Kollegen aus den Bereichen Risikosteuerung und Gesamtbanksimulation Teilnahme an Arbeitsgruppen der nationalen und europäischen Bankenaufsicht zur Weiterentwicklung des Meldewesens Dein Profil: Abgeschlossenes Studium in Wirtschaftswissenschaften, Mathematik, Naturwissenschaften oder eine vergleichbare Qualifikation Erste Erfahrung in der Projektleitung, Berufserfahrung im Bankenbereich sowie IT-Affinität im Umgang mit Datenhaushalten Grundkenntnisse der Bankenregulatorik und idealerweise Kenntnisse in SQL oder anderen Programmiersprachen Sehr gute Deutschkenntnisse in Wort und Schrift (C1-Niveau)

Verhandelbar

Berlin

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IRRBB Partnering and Insight Senior Manager (f/m/d)

If you are a self-motivated strategic thinker with strong analytical skills and experience in IRRBB, we want to hear from you! What you will do: Support the Treasury function in delivering high-quality IRRBB reports to regulators. Partner with business units to manage IRRBB and implement the IRRBB framework and strategy. Provide day-to-day leadership and drive the implementation of the new IRRBB strategy. Collaborate with regional and global Treasury colleagues to define a consistent IRRBB strategy and governance approach. Support the Head of IRRBB in making informed decisions on NII stabilization and core capital sensitivity. Improve the measurement and management of IRRBB risks and propose risk appetite. Qualifications: Degree in a relevant field with substantial experience (ideally 5+ years) in a Treasury environment. Experience with IRRBB systems, data, and modeling infrastructure. Knowledge of banking book products, structural hedging frameworks, and associated metrics (NII, EVE). Understanding of broader treasury operations and banking issues. Strong analytical skills and experience in data analysis for stress testing, forecasting, and reporting. Excellent communication and interpersonal skills, with the ability to engage with senior management. Commitment to diversity and inclusion. Strategic thinker with strong project management skills. Proactive and self-motivated team player.

Verhandelbar

Paris

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Market Risk Capital Vice President (m/f/d)

Our client is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. About the Role: The Risk Control, Stress Testing and Capital function within Firm Risk Management is looking for a Risk Capital Vice President to join the team, based in Frankfurt, Germany. Central role in capital requirements reporting and supporting regulatory developments, capital methodology, assessment, forecasting, and impact analysis. Focus on market and CVA risk across EMEA legal entities under ECB and PRA regimes. Additional responsibilities for the Risk Capital framework in EU-based legal entities. Key Responsibilities: Strategic Stakeholder Engagement: Provide insightful commentary on capital requirements to key internal and external stakeholders. Represent the Risk Capital function in regulatory interactions, preparing materials and participating in meetings. Engage effectively with senior management and risk committees, presenting complex information clearly. Support business initiatives by analysing the regulatory capital impact of large transactions and new products. Understanding and Developing Models and Frameworks: Maintain and develop the framework for own funds requirements calculations and reporting. Own the Risk Capital framework, including process and control framework, procedures, and outsourcing. Contribute to large regulatory projects, including internal model permission applications and CRR3 implementation. Participate in ICAAP and other capital planning exercises. Support compliance self-assessment and development of internal policies. Skills Required: Strong organizational skills, ability to multitask and work under pressure. Confidence to challenge and influence others. Strong communication skills, ability to engage with stakeholders and senior management. Ability to work in a small team and collaborate with a wide network. Fluency in English; German is an advantage.

Verhandelbar

Frankfurt am Main

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Risk Management News & Insights

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 IndustryAdvantagesIncreased 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.

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.

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:

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.

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.

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:

Risk-Management

The risk management landscape: industry & hiring trends

The complexity of today’s business landscape, from economic volatility and supply chain disruptions, to legislation changes cyber attacks, is one of the main contributors to organizational risk exposure. But, with great complexity comes opportunities abound; and they are certainly abundant for risk management professionals, who are in higher demand than ever before. In this article, the specialist risk management talent team at Selby Jennings have revealed their latest thinking on the major talent trends impacting the risk management industry, as well as the wider market at large.View the risk management vacancies we currently have available here.Market riskIn market risk, 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, 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, and we have observed several crypto and fintech firms poach quants and risk talent on the analytical and development side. Today, risk management professionals have a plethora of options available and with new risk entrants constantly popping up in the market, competition for industry-leading talent is heating up. We therefore recommend overhiring because of the likelihood of high turnover.Operational & enterprise riskIn 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 analyze the function, put a plan in place, and spearhead the process, are a premium in the market.Credit riskIn 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 counter offers, which are intensifying competition. Thus, we are advising businesses to offer at least a 20% increase to avoid mission-critical talent being counter offered. We also recommend working out what’s being offered in the market, or use a risk management talent specialist like 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 and enterprise risk verticals, the hottest markets are New York, Dallas, Tampa, Charlotte, Baltimore, and Wilmington in Delaware. The consumer lending space has 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 risk management professional interested in making your next career-defining step? Get in touch with Selby Jennings, your a dedicated risk management talent partner, for all your talent challenges.

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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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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 marketComplete the form below to download the full "Buy-Side Risk & Analytics Recruitment Market Update".

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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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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 tipsCertifications 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.

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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Selby Jennings: A Specialist Talent Partner in Risk Management Recruitment