Morgan McKinley Global Trend Report Risk H1 2014
Our latest Risk Global Trend Report is part of our constant commitment to add value and keep professionals updated. We have compiled this report based on a survey of our specialists in the Risk teams around the world, to provide insights to both candidates and employers.
In this report, we have included a more detailed overview of the key trends we have observed in Australia, China Mainland, Hong Kong, Ireland, Japan, Singapore, the United Arab Emirates and the United Kingdom.
Increased Risk awareness but shortage of talent in China
In China there is a mood of growing economic confidence but this is coupled with financial uncertainty and a general increase in risk awareness, all of which factors are contributing to a more buoyant recruitment market, chiefly focused on Credit and Operational Risk at the middle management level. Organisations are also recruiting to approval functions, which may help speed the hiring process. Regulatory Risk is likely to feature more prominently in future. However there is a shortage of local talent, which may require organisations to look overseas, mainly to other APAC locations and Chinese nationals currently working abroad.
We face a challenging period ahead with new regulatory requirements being rolled out.
Given the shortage of talent hiring organizations are likely to face high salary requirements. Job-seekers will however need to demonstrate that they are up to date with changing regulatory requirements and are able to work with the business.
Qualifications that are valued in China include a certificate in Risk Management or FRM or equivalent, an MBA or similar, and fluency in a foreign language. Experience in the regulatory environment is essential for many roles and a major plus for others.
Salaries & Benefits
We anticipate an overall increase in salaries of around 10%.