City employers are waging an uphill struggle to find skilled risk professionals, according to fresh data highlighting the extent to which vacancy levels are outstripping candidate supply.
The Robert Walters February 2015 City Jobs Index has revealed that there are now 1.4 risk jobs for every jobseeker and across the City, vacancy numbers overall increased 12% year-on-year.
Data from the index has also illuminated the squeeze on candidate availability in other regulatory roles with 2.5 jobs for every compliance candidate.
Contract positions across the financial services industry as a whole are also suffering a candidate shortage, with 1.7 jobs per candidate.
“A buoyant economy, low candidate availability and the weight of new regulation has intensified the ‘war for talent’ among employers looking to boost the size and potency of their risk function," said Chad Lawson, Associate Director of Risk & Compliance Recruitment at Robert Walters.
"Rising demand in specialist areas such as operational risk modelling, stress testing and quantitative analysis all reflect these trends, magnifying the problem of talent shortages and leading to aggressive counter-offers from both current and prospective employers.”
Confidence heading in the right direction
Across all professions, the Index recorded 10,560 job opportunities in the City in February, a year-on-year increase of 12% and a month-on-month rise of 8%, a robust indication of rising business confidence.
“While fewer candidates moved jobs during the recession, this caution has fallen away in as the flow of new opportunities opens up again. On the whole, employers who demonstrate the greatest flexibility on pay and benefits – or move quickly from interview to offer – are those proving most attractive to job seeking risk candidates,” said Lawson.
"Employers who demonstrate the greatest flexibility on pay and benefits – or move quickly from interview to offer – are those proving most attractive to job seeking risk candidates,” said Chad Lawson.
About the index
The Robert Walters City Jobs Index uses figures from Robert Walters database of jobs and candidate registrations, extracted on a monthly basis. Statistics for the full market are derived using estimated market share.
Over 1/3 of Risk professionals are expecting 20% bonuses this year
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