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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 The light touch regulatory approach has been replaced by far more aggressive regulatory oversight.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

Senior Internal Auditor
  • Location London
  • Salary To£60,000
  • Job type Permanent
  • Sector Insurance , Commerce & Industry
  • Description My client, a global medical/healthcare insurance company, are looking for an ambitious and diligent Internal Auditor to join their UK Audit team on a permanent basis
Internal Auditor
  • Location London (City)
  • Salary £45,000+Generous Bens
  • Job type Permanent
  • Sector Insurance
  • Description Our client, a high growth speciality insurance company is looking to recruit an Internal Auditor to join its fast-paced international Internal Audit function. This highly successful company has
Internal Auditor
  • Location City of London
  • Salary To£40,000
  • Job type Permanent
  • Sector Insurance
  • Description An Audit Function of 5 is seeking an intellectual Part-Qualified Internal Auditor to assist the Head of International Internal Audit and the European Audit Seniors with the planning
Head of Internal Audit
  • Location York
  • Salary To£100,000
  • Job type Permanent
  • Sector Other Financial Services , Other Financial Services
  • Description Head of Audit
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