AU
Sector: Risk Management
Guest Comment: The shift in risk – Why jobs in this sector are moving away from banks and towards consultancies
Australia’s largest financial institutions and corporates are looking to develop strong and trusting external partnerships to help manage their risks in an increasingly regulated global economy. As we collectively assess the best ways to minimise risk, satisfy regulators and optimise operational performance in the post-GFC environment, external advisers are strengthening their teams and offering value-for-money, [...]
Redundancies, reduced recruitment, restructuring: Weren’t risk roles supposed to be safe?
Risk jobs were a comparatively safe haven during the financial crisis and hiring was healthy last year, but that’s all changing as banks reduce recruitment and even make a few layoffs. “Vacancies are substantially lower. The number of roles with some banks has halved in the last six months. All areas of risk have been [...]
Stuck in the Middle: Would taking a risk job risk ruining my career?
In recent weeks, I have been approached by one of the big four banks about the prospect of moving into the risk side of its business. I will freely admit that I have not actually worked in risk before, although my more recent experience does lend itself to a career in this division. That being [...]
Guest Comment: How Basel III could affect your career (even if you don’t work in risk)
Basel III is just around the corner, with most Australian financial services firms currently assessing its impact on their business. Now is a great time to consider the career opportunities this may offer, not just for risk professionals, but within the broader financial community. What can we expect? Basel III is an extension of existing [...]
AMP results reflect recruitment trends
The contrasting fortunes of AMP’s fund management and risk businesses are mirrored by the wider recruitment market in these sectors. While AMP’s fund management division reported a fall in earnings, the group’s results were boosted by the strong performance of its risk unit (Money Management). AMP Capital’s chief economist Shane Oliver tells us that the [...]
Operational risk: it’s quality not quantity that counts
Operational risk specialists are commanding higher salaries and tackling more complicated issues as banks focus on increasing the quality of their teams, rather than boosting headcount. The new Market Survey on Risk Management from Jon Michel Executive Search says outsourcing of low-level banking jobs to Asia is creating new challenges for operational risk professionals back [...]
Risk specialists in short supply, says KPMG
If you want a risk job at an Aussie bank, the advice is to get specialist. Generalists are no longer in vogue because Basel II implementation has largely run its course, says Mike Ritchie, a risk advisory services partner at KPMG. He tells us: “The credit crunch has meant that banks have not reduced their [...]
Shaky times at ANZ
The official line out of ANZ at the moment is that it’s conducting an internal review of its securities trading processes and practices, following its involvement in the Opes Prime shares debacle. Unofficially, the bank is known to be wielding the axe internally as it looks to restructure some of its operations and clean out [...]
Having a ball with counterparty credit risk
In risky times, it’s hardly surprising that financial institutions are going to town on risk specialists – particularly counterparty risk analysts who can help them ascertain whether the hedge funds and other clients they’re doing business with are liable to go under. “There has been increased interest but it’s been hard to get really good [...]
Quant risk is the new black
It’s a great time to have risk – someone else’s. Suddenly everyone’s screaming for quant risk specialists. The Robert Walters Salary Survey 2008 says salaries have jumped to AU$135k for quant risk specialists with six plus years’ experience, up from AU$120k last year. In fact, anyone working in risk will be at least 10% better [...]
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