Morgan McKinley Global Trend Report Risk 2015
In line with our commitment to keep professionals working in the risk discipline up to date with employment and recruitment trends, in the second half of 2014 Morgan McKinley conducted an international survey of its consultants in eight markets.
In most of the world’s financial centers the agenda is being driven by regulatory, market and credit risks.
Demand for new headcount and talent shortage driving salary inflation
The general increase in risk awareness and talent shortage are making Mainland China a land of opportunity for suitably qualified risk specialists, with credit risk, operational risk and market risk particularly strong growth areas. Demand is strongest at middle and assistant manager levels and many Chinese organisations are turning to other APAC locations to source candidates.
“We have also seen a lot of changes at the senior end of the market in recent months,” says Rio Goh, Country Head, Morgan McKinley China. “The environment is getting more complex and banks are going to be subjected to further controls, which is putting greater pressure on their risk staff. We expect to see some salary inflation as they compete for top talent,” he adds.
The risk environment is getting more complex and there is more pressure on risk staff.
Risk professionals who take the trouble to get exposure at the front line and understand the business model better will be in an excellent position to move forward. Fluency in a second language is a major asset together with a thorough knowledge of the regulatory environment.
Salaries & Benefits
Salaries are likely to increase at an average annual rate of 10% and we expect to see more performance bonuses linked to the quality of client portfolios under management.