Risk Management Market Update 2018
The Senior Market:
We have seen increased actively due to new entrants to the market such as Fineco, Standard Life and Legal & General building out their Dublin risk teams.
Barclays are expanding their market risk team and Bank of America are building out a treasury risk and control function.
Citi Bank hired a head of market risk & liquidity, State Street Global Exchange hired a VP and DMS an associate director of risk services.
Due recent CBI recommendations we have seen a spike in demand for operational risk and control professionals.
At 1st line level firms will look to recruit internally but at 2nd line the trend has been to recruit external experts who have proven operational risk, internal audit or business control experience.
Investment management firms with AUM less than a billion continue to focus on returns and outsource risk. On the back of this the Irish Manco’s and Fintech firms such as AQ Metrics are increasing their market share.
Demand for quantitative risk professionals with strong interpersonal skills is greater than the supply. This is resulting in increased salaries and a high level of counter offers in this market.
We predict a busy Q3 with Legg Mason, Principle and Morgan Stanley recently announcing Dublin as their post Brexit European UCITS & AIFM hubs.
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