Employers anticipate a shortage of risk professionals

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Research from Robert Walters has found that almost a third of employers expect to face a shortage of risk professionals, as the demand for specialists grows to cope with legislative reforms after the EU referendum. 

Additionally, almost a third of employers believe that Britain’s decision to leave the EU will compound this shortage. 

“The uncertainty created by Britain’s decision to leave the European Union coupled with anticipated changes to the UK’s financial regulatory framework is likely to create significant demand for risk professionals,” said Rob Starkl, Manager at Robert Walters.

Need for mid-level professionals

Mid-level professionals are highest in demand, with 72% of employers planning to focus on recruiting at this level and more than half planning to focus on permanent rather than contract hiring.

“Uncertain economic conditions have resulted in risk departments being highly selective when hiring into junior roles to ensure that they have greater ability to monitor, control and report on associated risks," continued Starkl.

Skills in demand

Risk professionals who can not only show strong technical proficiency but also possess the skills and experience to work collaboratively with other stakeholders within the business are likely to find themselves in highest demand.

Mid-level professionals are highest in demand, with 72% of employers planning to focus on recruiting at this level.

“Given the limited supply of available talent at this level, employers are facing high competition for the best candidates," said Starkl.

"To cater for the shortfall, in highly technical disciplines such as modelling, methodology and stress testing, alternative sources of talent are being highly sought outside of the usual financial services organisations.”

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