Risk Management Jobs in London
The risk function across both London and its European counterparts is facing a similar reality, driven largely by regulatory expectations and a tougher approach to risk management. As far as criteria expected of employers hiring for risk management jobs in London, and elsewhere, candidates able to demonstrate specialist knowledge and expertise across market and credit risk, in addition to the more emerging notions of information security and cyber risk are at the top of the hiring agenda. Those risk professionals experienced in risk methodology and change management will also find themselves in high demand as organisations prepare themselves for the implications of directives such as the EU GDPR.
Candidates wondering as to the ramifications of Brexit should take note that a number of the major banks are planning on relocating certain functions across to European cities including Frankfurt, Dublin and Paris. In some cases the current occupants of said jobs will be offered the chance to move with their role but in others, risk management jobs will become available in those locales.
Though focusing on the UK capital, banks and financial services firms are certainly key employers to consider for risk jobs in London with current vacancies showing at Deutsche Bank, Santander, Barclays, Citi and Lloyds among others.
A risk management role at Deutsche Bank, for example, expects a candidate to be experienced in market risk, driving the most advantageous risk/reward relationship between all business units of the bank and will see the individual liaising with risk takers, risk managers and control and support groups to ensure the relevant objectives are met. Such a role demands a deep understanding of risk, reward and capital in order to advocate risk where financially viable.
Market risk certainly seems to be one of the employment drivers for many UK banks currently; with employers expecting those taking up risk management jobs in London to play a key role in the analysis, monitoring and reporting on key Banking Market Risk exposures with regards external regulatory requirements, risk mandates and policies. Risk professionals will be tasked with providing leadership and risk management insight to inform key business strategies. Knowledge around AML (Anti-Money Laundering) is also one of the key skills expected of risk professionals in 2017.
Credit risk management jobs are equally as prevalent, calling for candidates who are numerically gifted. That proficiency with numbers coupled to excellent analytical skills equates to the ideal candidates for credit risk which will see your ability to interpret numbers and identify trends lend itself in influencing effective decision making regarding risk strategies, business models and products at higher levels of the business.
Risk jobs for London insurers and other proponents of the financial services industry demand qualifications in business, finance, law, engineering or insurance, for example an ACII. Risk roles within an insurance framework involve a lot of contract review, experience with legal liability concepts and strong stakeholder management; though this is expected regardless of which area of risk you work in.
Excellent communication is a key asset across every element of the risk function, market, credit, operational and beyond as the need to work effectively with people from every area of the business is central to risk management. Having the confidence too to challenge where necessary those in positions of seniority, and traders in particular, is hugely important in a risk management role as you are the expert in that area and it’s your job to manage the firm’s appetite and consumption of risk. Roles in risk management call for individuals able to apply strategic and analytical thinking to their work, as well as someone who is flexible and able to multitask in a working environment prone to constantly changing priorities and a rotating list of urgent demands. Technical expertise is another must as digitalisation continues to spread across the business domain.