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Permanent Risk Recruitment Market Update

We recently reported on the hiring trends in Algo and Electronic Trading Risk, hiring activity has continued in this space at most Banks. As we move into 2020, we look at some of the notable factors in permanent risk recruitment, as well as some of the key appointments in 2019.

  • Risk analytics and the more quantitative end of risk methodology for both Market and Counterparty Risk has seen increased hiring activity.
  • Boosted hiring in model validation both in Capital markets (pricing and market risk models), and Retail and Wholesale Banking (primarily the IRB models). There is significant competition for the best candidates across model validation and we expect this to continue into 2020.
  • Operational Risk hiring continued throughout 2019 on both the buy and sell side with steady hiring across all levels of seniority.
  • There has been an increase in hiring into Investment Risk teams on the buy side, most notably for candidates with three to five years of experience. Candidates with Cross Asset experience and expertise in Python have been especially in demand.
  • Investment Book of Records (IBOR) transition has started to drive hiring requirements at both the Banks and Consultancies. The latter suggests that this ultimately might have a more meaningful impact on the market than the Fundamental Review of the Trading Book (FRTB) has had so far.

With increasing competition for the best candidates, a growing number of firms are recognising the need to be more decisive when hiring. Candidate engagement can become an issue in drawn-out, overly complex interview processes. Whilst detailed candidate assessment is of course of great importance, an efficient interview process with detailed feedback is equally important and can mitigate against losing candidates to competing offers, as well as maintaining a positive experience for a potential new joiner.

People Moves

  • Olivier Vigneron has joined Natixis as CRO. He joins from JP Morgan where he was EMEA Chief Risk Officer.
  • Anne-Juliette Laurencin joined Morgan Stanley as EMEA Head of Market Risk from JPMorgan Chase and Co.
  • Lisa Nowell joined Monzo Bank as Chief Risk Officer from ClearBank where she was Chief Risk Officer.
  • Margaret Ammon is joining Legal & General Investment Management Limited as Chief Risk Officer from M&G Investments. Ms Ammon is set to join the firm in February 2020, subject to regulatory approval.
  • Matthew Haigh is joining Citigroup as EMEA Head Algo Trading Risk from Nomura.

As a leading supplier of Risk personnel to the global Financial Services and Banking industries, we are extremely well-placed to find you the best-matched candidates. We have a strong track record in permanent risk recruitment from Associate level to Managing Director. Please contact us to discuss this further or to ask any questions.

Peter Umesi

Director, Head of Risk Analytics, EMEA

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