In a post- Credit Crunch industry businesses are now more concerned with protecting themselves against risk than ever before. This has led to a surge in the need for professionals able to work in the complex and demanding risk management sector and a change in the way in which companies look to hire staff.
Analysis carried out by Randstad (http://www.randstadfp.com)
This demand has continued even though there have been relatively few redundancies within the sector. This highlights the increased awareness of financial institutions concerning the mitigation of risks and the hazards of high levels of exposure to dangerous assets. It is also an indication that businesses are still responding to changes to regulatory changes in financial markets.
The sector is largely split in favour of male employees, with only 34% of those individuals registered with Randstad in risk management positions being female.
The Wall Street Journal’s recent article on the jobs of the future pointed towards sectors such as financial risk management as those that are most likely to grow in the near future. Dawn Fay, the district New York/New Jersey president of Robert Half International, has also been referenced as expecting thousands of new jobs to be created in the compliance field – a large number of which will have to be risk management positions.
This emphasis on working with fresh regulation and adapting business models to meet new demands will undoubtedly create new jobs in risk management and regulatory compliance fields, an argument made very recently by Republican Keith Ellison in the U.S. Though new regulation may have a negative effect generally on employment numbers in the financial sectors, there appears to be a lot of room for growth in compliance and risk management recruitment opportunities.
In most instances, a financial risk management expert will be required to understand exactly how to use a variety of different investment strategies to achieve the most lucrative result for their employer. This usually means a good understanding of market risk is necessary, as well as how it can be affected and manipulated by current economic stimuli.
The ability to identify and evaluate trends within a market is essential and successful candidates will also spend much of their time monitoring market activity in order that they have a better ability to identify market trends in the early, most profitable stages and react accordingly.
This may involve making new investments or just managing existing ones in a way that benefits the company.
Here the qualities of patience and equanimity are particularly important as it may be the case that a market trend that appears to be driving down the value of an investment will actually push it back up in the near future.