2020 – Year of the Quant ?


Keith Jones Risk, Permanent, Temporary...

2019 was an interesting year in the world of Risk recruitment.  Brexit seemed to loom over almost every candidate conversation; our banking clients approached recruitment cautiously while our buy-side clients appeared more robust in their approach to hiring fresh talent.  Additionally, with IR35 on the horizon, day rate assignments seem to be making way for fixed-term contracts, much to the despair of many a day rate veteran.

As a team, we cover most areas of risk management but in my opinion, 2019 was most certainly the year of the Quant. Model Validation, Risk Modelling, Quant Developer…the list goes on and on, and the appetite to hire these mathematical and technology wizards doesn’t seem to be slowing down. Long may it continue!   Another hot topic was 1st LOD control functions, candidates with strong operational risk and business knowledge are in high demand.

One of the major challenges of 2019 for many of our clients was the dreaded counter offer scenario. I saw extremely aggressive counter-offers last year, in some cases up to 50%, which makes managing future conversations tense, to say the least.  Candidate X is looking for a role as she feels its time for a fresh challenge, her boss doesn’t appreciate her but this isn’t all about the money, this is about her career.  Fast forward 5 weeks and a counteroffer with a £25,000 increase and all that talk of career advancement suddenly goes out the window.  Would I make the same decision…who knows, but I imagine 2020 will pose the same challenges as the war for talent in the risk space rages on? 

So what does 2020 hold in store for us? I imagine much of the same. Strong candidates will be in high demand and will get counter-offered. Risk professionals with strong technical skills will have plenty of options to choose from, and after 31st March the contract landscape is likely to look very different but if you have experience in any of the above areas, please do get in touch as we will likely have something for you.