Our quarterly update on the Risk & Compliance market, where we provide you with insights from both the previous and upcoming quarters.
Businesses are spending money on fixing their issues or trying to keep ahead of the game with controls in play. Companies need to either be proactive by focusing on recruiting controls assurance risk specialists to set their business up to prevent future risk incidents/breaches or reactive by responding to regulatory recommendations/by recruiting risk and compliance generalists to manage and deal with the influx of work.
Major banks are are upscaling teams in Technology risk, BA risk professionals, Credit Risk and Advisory Risk.
We are finding skill gap shortages in risk roles such as Quantitative analysts and Credit risk specialists, especially in balancing out the gender ratios within these teams.
Fintechs are offering equity or part time options. Clients are offering very flexible working arrangements as long as people deliver. I would advise employers to continue to invest in learning and development, benefits packages and employer branding.
We are meeting with many Fintechs who are looking at disrupting the market. This includes new tools to automate processes and minimising risks. There is demand in new banks and fintechs that are disrupting the market and looking at ways they can deliver a better customer experience within the regulatory boundaries (ie by still remaining legal).