Brexit continues to be top of the agenda for Financial Services Operations recruitment

Morgan McKinley 05.07.2018

Despite Brexit openings, contract Financial Services Operations recruitment has been suppressed, whilst permanent jobs have been on the rise.

Financial Services Operations recruitment market overview

The number of permanent jobs has increased throughout Q2 following on from a strong Q1. Both the asset management and banking industries have been busy with hiring, the majority of positions being filled at mid-level. On a more negative note, frequency of jobs on the contract market was subdued, continuing on from a slow previous quarter.

Financial Services Operations recruitment Q2 update

Brexit continues to be top of the agenda, with more talk of jobs moving to mainland Europe, but this time outlining specific roles. Conversely, Brexit is actually creating more jobs in the short term; staff members are being deployed onto projects and therefore contractors are being drafted in to fill their positions, although this hasn’t made up for the reduction in roles.

Most exciting roles seen throughout Q2

We have noticed that a number of banks have been increasing their front office support. We have seen more Sales Assistant and Trade Assistant contract roles, where usually this is more of a permanent area. These roles are exciting and enticing for candidates as it offers front office exposure and a move away from the middle office.

Desirable skills sought after in Financial Services Operations candidates

There have been a few select skills that hiring managers have been requesting in candidates:

  • Increased Excel skills needed - VBA etc. This is due to increasing levels of reporting being involved in BAU roles.
  • Financial product and process SME knowledge - always important for Trade Support roles.

Predictions for the upcoming quarter

As policies slowly become clearer, and the leave date gradually draws closer, Brexit planning is reaching BAU level. We anticipate that this will result in a high number of short term roles becoming available whilst changes are put in place. There is likely to also be increased headcount in operations due to the setting up of new entities for Brexit.

Contributors to the Financial Services Operations Q2 update were:

Ross Sailes | Manager, Financial Services Operations - 020 7092 0203