Projects professionals in demand within financial services

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Projects professionals working within financial services will continue to be in high demand in the second half of 2016, as mid-cap institutions, asset managers and fintech firms seek staff to oversee transformation and regulatory programmes.

In addition, demand for change professionals from a range of finance, legal, consultancy and functionally aligned backgrounds remains steady, as UK banks adhere to the government’s bank ring-fencing requirements.

“The impacts of the regulatory agenda across mid-cap banks, brokerages, exchanges and other market participants are still driving demand for projects professionals,” said Job Mullin, Manager at Robert Walters.

Insurance, investment management and custodian banking

The strong demand for projects professionals with asset management, wealth management and custody experience remains high in line with that seen at the end of 2015.

Although regulatory change remains a significant proportion of the workload, a wide variety of business improvement, transformation, digital, on-boarding and re-platforming initiatives are also in evidence.

"As businesses move from policy interpretation into delivery, especially in the systems changes aspects of reporting, we will expect to see an increase of MiFID2 change roles," continued Mullin.

Permanent versus contract hiring

The strong demand for projects professionals with asset management, wealth management and custody experience remains high in line with that seen at the end of 2015.

Across the transformation market we have seen an increase in independent contractors as management consultancies seek these professionals in favour of permanent hires.

As a result of the increase in contractors within the financial services sector, specialists are capitalising on this increased earning potential particularly at manager and senior manager level.

Conversely, due to a tighter job market and the direct impact this has on the financial benefits on contracting, long term contractors with project or programme management skills within investment banking more open to converting into permanent roles.  

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