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Employers face a shortage of risk professionals as they adapt to Brexit legal reforms PDF Print E-mail
Monday, 18 July 2016
Almost a third of employers expect to face a shortage of risk professionals, as demand for these specialists grows to cope with legislative reforms in the wake of Brexit. 

With the UK likely to see changes to its legal and regulatory framework, coupled with the current market instability, risk professionals are likely to be in high demand from banking and financial services firms as they look to adapt to the changing conditions.

Rob Starkl, Manager, Risk Recruitment, Robert Walters comments: “The uncertainty created by Britain’s decision to leave the European Union coupled with anticipated changes to the UK’s financial regulatory framework is likely to create significant demand for risk professionals.”

“Given the potential scale of these changes, risk professionals who can not only show strong technical proficiency but also possess the skills and experience to work collaboratively with other stakeholders within the business are likely to find themselves in highest demand.”

RECRUITMENT OF MID-LEVEL PROFESSIONALS TO DOMINATE HIRING
The research also shows that employers plan to focus on hiring mid-level risk professionals (72%) over senior or junior roles.

Rob Starkl continues: “Uncertain economic conditions have resulted in risk departments being highly selective when hiring into junior roles to ensure that they have greater ability to monitor, control and report on associated risks.”

“Given the limited supply of available talent at this level, employers are facing high competition for the best candidates. To cater for the shortfall, in highly technical disciplines such as modelling, methodology and stress testing, alternative sources of talent are being sought outside of the usual financial services organisations.”
 
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