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Interim Market Report 2011 - Risk Management Executive Summary

Welcome to Barclay Simpson’s 2011 Interim Risk Management Market Report. This is the 21st year we have produced a market report summarising and analysing recruitment trends in corporate governance and the 7th year we have produced a specialist report on risk management. We place great value on professional reaction to the Report and would appreciate your comments.
An overview of the corporate governance recruitment market and an in-depth analysis of the economic and business trends that are likely to shape the overall recruitment market can be found in our
Corporate Governance Market Report.

Top line conclusion

Formally the recession has been over for almost two years. In more usual times, the economy would now be a place of rising confidence and investment, as it embarked on a period of steady growth. It is clear we are far from there. However, the risk management recruitment market, in spite of operating in an economic environment of sub trend growth and squeezed living standards, is enjoying strong demand.

It is perhaps the good fortune of many of the people who work in financial services, that the industry has come to have a disproportionate influence on the UK economy. This is both in terms of its size and its importance to the functioning of the economy. Many would argue that it was allowed to grow too big and that much of it lacks any social utility. However, this was not a common opinion prior to the financial crisis, when the tax receipts and employment it provided contributed disproportionately to the growth and perceived success of the economy.

Possibly as a result of their own culpability and a desire to be seen to be acting decisively, politicians and regulators were never going to allow themselves to be left open to the charge that they did not do enough in response to the financial crisis. The light touch regulatory approach has been replaced by far more aggressive regulatory oversight. The FSA is now actively searching for excessive risk taking and it will continue to be a core responsibly of the Prudential Regulatory Authority. There is also a substantial raft of regulation in the process of being implemented which will impact risk management.

This revised approach has resulted in substantial growth in risk management. Given the huge sums invested in risk management and corporate governance more generally, we would hope and expect its influence will be felt in the management of the financial services industry. Certainly the risk management profession is increasingly populated by practitioners who deserve and expect to be listened to.

We made the point at the start of the year that the future of risk management looked positive. Developments during 2011 have done little to change our view.

Latest jobs

Compliance Manager
  • Location London
  • Salary Up to £75,000
  • Job type Permanent
  • Sector Banking
  • Description My client is mid sized international bank. They are looking for a Compliance Manager to assist the Head of Compliance to ensure the bank is being compliant with rules, law and regulations
IT Audit Manager
  • Location Dubai, UAE
  • Salary To£90,000 tax free
  • Job type Permanent
  • Sector Banking , Asset Management/Funds
  • Description A leading Middle East bank has an opportunity for an experienced IT Auditor to join their team based in Dubai.  The role will take the lead in the review of IT Infrastructure projects undertaken
Senior Asset Recovery Investigator
  • Location London
  • Salary c£60,000 + Bens
  • Job type Permanent
  • Sector Financial Crime Compliance , Corporate Security
  • Description This role would manage specialist asset tracing cases, tracking down hidden assets through creative research methods, utilising multiple sources including public records, international media
Senior Internal Auditor, Methodology and Quality Assurance
  • Location London
  • Salary To £65,000+Bens+Bonus
  • Job type Permanent
  • Sector Banking, Other Financial Services
  • Description An opportunity has arisen for an internal auditor to join a leading bank in London. In this role you will be involved in the delivery of independent quality assurance reviews of audits performed by
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