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Have risk bonuses been ring fenced?

The rumour doing the rounds in risk circles is apparently that risk bonuses are going to be spared the ravages of the market.

“Risk has been ring fenced,” says David Butter, of risk recruitment firm GRS Consulting. “Most people expect bonuses to be slightly down, but not nearly to the extent of other areas. Some operational risk teams have had the best years of their careers.”

Needless to say, such optimism may be misplaced. Adrian Marples, a risk specialist at search firm Sheffield Haworth, says it’s not universal: “Most people were expecting to be paid 25% down – and that was before Lehman.”

Marples says there’s not a whole lot of hiring going on in risk right now. But Butter begs to disagree: “Counterparty credit risk has been the big area of recruitment this year. We are expecting operational risk to be big next year.”

Jonathan Baines, chairman of Whitehead Mann, which headhunts at the upper echelons of the risk spectrum, says banks are certainly keen to retain risk talent, but that risk is not ring fenced from reality: “Every risk manager is up to their eyes in work at the moment but no-one is immune from cost reduction.”

Comments (5)

Comments
  1. Risk departments have to take some of the blame for the mess we’re now in. The fact that anyone in risk thinks their bonus will be unaffected by this situation shows just how inept and out of touch with reality these people really are. Risk failed in their jobs. They deserve no bonus at all.

    Get badly real Reply
     
  2. why on earth do we give “print room” to these Recruiters /Talking Heads
    They know nothing and if anything, what they say can be damaging
    I think that we might be shocked at how few people these recruiters are actually placing at the moment

  3. HrHoncho you are right, some of the stuff the recruiters come up with is a load of rubbish, however the people who do not know what is ever going on and generally arer business disruptors are yourself and your brethern/sisters in HR. What a waste of space they are!! However they are he lesser of the two evils (HR and recruitment) and generally are the brokers of teh human asset class…without these brokers there is no liquidity in the market they trade in….and if you were honest with yourself, you are where you are due to them being around…

  4. HR Honcho – come on man, why the poison, lets spread love across the spectrum in this tough time. we ain’t placing cos there ain’t no jobs and i’ll probably be out of work for Christmas, but hey at least i won’t be sacking people in time for Christmas like you. I don’t envy HR.

  5. HR=Hardly Relevant

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