Risk Management - Monthly Update - June 2024

Dear Risk Recruitment Insiders,

Market Update: A Gradual Recovery

Welcome to the June edition of Risk Recruitment Insider. In this issue we will look at how the market has presented itself, after some positive changes in May.

1.     Hiring Trends

Despite initial expectations of a sharp uptick in hiring volumes for risk professionals in June, the reality has been more nuanced. With low hiring volumes over the past 12 months and large scale redundancies, many clients have found success in direct hiring for their initial strategic hires. As hiring volumes continue to increase and strong talent is less readily available, I imagine that many clients will once again rely on specialist agency support.

As mentioned on a previous edition, most clients have put together growth strategies for the coming months. There has been a big focus on bolstering Operational Risk & Resilience hiring along with Credit Risk, specifically on the funds side. These themes I expect to see continue into 2025 along with hiring across governance in Hedge Funds (more on this separately but please reach out if you’d like to discuss).

2.      Global Uncertainty

It seems as though ‘precedented' times no longer exist with the macro-economic environment being consistently changeable. We are currently battling with global elections that have introduced an element of uncertainty. While the UK’s election outcome seems relatively predictable, the situation in the United States and France remains less clear. Businesses are closely monitoring political developments and adjusting their recruitment strategies accordingly.

We hope that future governments implement policy that enables business growth long term, and we do expect that there may be more regulation across financial services with firms pushing for more ownership in the real-assets space.

3.     Looking Ahead

Though hiring volumes have not increased to the levels we were hoping for, they are still improving. We do now find ourselves on the cusp of the summer holidays, which we expect to cause more barriers in hiring.

Due to this we expect September and into Q4 to be our busiest period of the year before we start to discuss 2025!

As always, if you are looking for a new role or would like to speak about how your function is set up then please do get in touch.

James