Banking Internal Audit Jobs

Demand for banking internal auditors has stalled

Against expectations demand for internal auditors held up throughout 2008. That has changed and while internal audit is still a politically sensitive area demand has fallen and redundancies have risen. Senior members of audit staff appear to have been particularly badly hit at a time when the number of vacancies at this level have fallen disproportionately.

Often redundancy packages are offered which employees feel obliged to take as the threat of being made redundant shortly afterwards with a less generous offer is real. Vacancies are presently concentrated in a limited number of major banks.

There will always be potential options for strong candidates particularly if they are professionally qualified and have deep technical banking knowledge. Capital markets and investment banking knowledge are still in demand not only for investment banking audit roles but also because such people are considered to have very transferable skills for other banking areas.

The banking internal audit market is set to remain problematic for the rest of 2009. Whilst it is too soon to predict when more comprehensive demand will return, we are hopeful for the first quarter of 2010.

For up to date information on the current internal audit recruitment market, including latest salary information, visit Internal Audit Mid Year Market Report 2012.

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