The unprecedented rise of new regulation in the financial services market place is driving significant growth of new roles. Talent gaps exist and could signal a significant challenge in the future, particularly in regulation, risk and compliance.
Much of the new recruitment within the financial services sector revolves around business critical roles, with a mix of mid- and senior- level talent as well as newly qualified accountants seeing the greatest opportunities. Companies under pressure to do more with less expect employees to be both specialists and generalists, demonstrating high level experience and knowledge across multiple areas.
Regulatory change remains at the forefront for the financial services sector as companies strive to generate profits as well as achieve compliance with regulation ranging from Solvency II to Basel III and from IFRS to FATCA. Consequently, there remains a significant need for risk, regulatory and compliance professionals, and as demand outweighs supply, companies face increased budgetary pressure to secure the market’s most sought-after individuals.
Changes in the regulatory environment are also having a significant impact on technology, leading to tier one and mid-cap banks citing higher demand for regulatory, risk and finance IT professionals. The rise in big data has also stimulated demand for data analysts, business intelligence and data/database developers.
Finance professionals in particular are benefitting from this optimism as companies look for additional insight and strategy into business process improvement, cost savings and new sources of revenue
More than a million people across the UK work in financial services, representing nearly 4% of total UK employment.
Penny Winter – The UK Knack GroupMore than a million people across the UK work in financial services, representing nearly 4% of total UK employment.
www.theukknackgroup.co.uk
