Which banks are hiring for risk management, and where
Anybody who's bothered to dip their nose into a newspaper over the last 18 months will know that risk management is an increased area of focus in the banking sector.
However, few banks have publicly stated a desire to recruit risk professionals, despite assumptions that demand for their services would sky-rocket in the wake of the financial crisis.
Based on conversations with recruiters and statements from the banks themselves, we've compiled a list of where they're currently recruiting for risk and what their requirements are likely to be in the coming months.
Bank of America:
It's actively building across a range of risk functions within a number of divisions - including wealth management and investment banking - say recruiters. A bank spokesperson says that they are "staffing our risk management teams to appropriately support our larger client base".
Barclays Capital:
There's relatively voluminous numbers of roles within credit risk and market risk management, although these are based in the bank's New York HQ. Sadly, UK recruitment within risk looks unlikely to take off to a significant degree this year. The bank tells us that UK expansion plans - in areas such as equities and M&A - largely took place last year, as did hiring for support functions like risk. It's always on the lookout for top talent though, it adds.
Citi:
Currently recruiting for numerous credit and portfolio risk roles, but unclear whether this is part of a wider expansion plan in this area.
Credit Suisse:
Recruiting for modest numbers credit risk roles in the UK, although the majority of the risk positions appear to be based in Switzerland. The bank did not return requests for comment.
Macquarie:
The Australian bank is currently looking to hire for market risk roles within its London office. Recruiters we spoke to seemed adamant more roles were coming at Macquarie this year, as it looks to kick-start more market risk projects. However, a bank spokesperson tells us that while risk management remains a "key plank" at the firm, recruitment is ongoing and not part of an expansion plan in this area.
Morgan Stanley:
Suggestions that Morgan Stanley's risk recruitment spree is about to end may have been a little premature. It's currently recruiting for credit and operational risk professionals across a range of asset classes in London. The bank declined to comment, but we understand it's going to continue to bolster risk functions in the near-term, at least.
Royal Bank of Scotland:
Every risk recruiter we spoke to pointed to "aggressive" levels of recruitment coming out of RBS currently. The bank confirms this, saying that it's intending to hire across all risk disciplines within all of its divisions. Christine Mackenzie, head of recruitment for risk at RBS, says finding sufficient levels of talent remains a challenge, but that candidates have a chance to "influence the risk agenda" at the bank.
Sociéte Générale:
Headhunters tell us that the French bank is looking to "significantly" bolster its risk ranks, and that it currently has vacancies operational risk - though largely at a junior level. The bank declined to comment, though.
UBS:
The bank currently has numerous opportunities within credit and operational risk in the UK and recruiters confirm it's an active hirer currently. UBS declined to comment, but sources say risk recruitment is likely to be steady, rather than astronomical, this year.
