Concerns over both short-term and long-term funding issues for banks, combined with regulatory capital requirements, makes working in internal treasury a stressful place to be currently. However, at a time when few jobs are in demand, it’s also an area where new roles are still being created.

Treasury as a function is not entirely immune to layoffs – RBS, for instance is planning redundancies here, according to a leaked memo – but roles around liquidity management are still providing new opportunities.

You’ll find the term ‘optimising liquidity and capital base’ among the job description of many roles relating to banks’ corporate treasury functions. The teams are also responsible for contingency funding planning, regulatory requests and balance sheet liquidity.

“The liquidity requirements set out by Basel III, as well as the FSA, means that banks have to measure liquidity on a more regular basis, have liquidity disaster recovery plan and hold more capital,” says Selwyn-Blair Ford, head of global regulatory policy at Wolters Kluwer Financial Services’ FRSGlobal. “While treasury departments are capable of fulfilling these functions, their resources are becoming increasingly stretched.”

RBS is advertising for roles (whether they’re signed off is another matter), as is Standard Chartered, while Morgan Stanley is recruiting for relatively junior associate positions.

“These functions are becoming increasingly important in the wake of new regulatory capital pressures, and there’s ongoing recruitment activity despite the general market slowdown,” says Giles Simon, a director at Correlate Search who focuses on these roles.

Liquidity/capital management jobs pay a base of 50-75k at associate to AVP level, rising to 75-120k for VP roles, according to figures from Robert Walters. Director level positions pay up to 200k, suggests Karen Rayment from recruiters Marks Sattin Banking and Financial Markets.

However, Andrew Clarke, head of the financial services treasury desk at Robert Walters, suggests that most banks are still reluctant to increase headcount dramatically, having staffed up in late 2009 and the first half of last year.

“We are still seeing volume recruitment on the temporary side, because of more stringent FSA-driven liquidity reporting requirements,” he says. “Typically most candidates have an accountancy background, and have developed banking knowledge through a product control role.”