The month of August was a mixed bag for the Projects and Change team. We saw increased volumes and demand across operations change and a decline in the number of opportunities and new candidates in finance and risk change.
Coming out of summer into autumn normally sees a quick start to the hiring season again however in the City AM John McFarlane - the chairman at Barclays acknowledged there could be a number of staff cuts at Barclays as the bank pursues a more aggressive cost reduction model. This is not all doom and gloom for the Barclays offices as critical hire’s will still be approved particularly where pressing regulation deadlines approach.
Our perm finance and risk team have experienced an uptake in demand for data solutions skill sets. Therefore change projects with workstreams focussing on delivering these data solutions and consistent data reporting are beginning to get underway. The progress of these projects have varied across the market and while there is a need for flexibility there is also an uncertainty on how requirements may change over the next few years.
The key skill set in both permanent and contract risk change is FRTB (Fundamental Review of the Trading Book). This has continued to be the main source of hiring. Candidates that have strong mathematical knowledge of risk models and business change delivery will be well received by Morgan McKinley clients.
Within operational change it is still all about MiFID which we spoke of last month. The 2017 delivery date has upped the hiring for both business analysts and project managers as teams mobilise to have their house in order for 2016 prior to the completion date.
The other continued source of demand has been within the payments space with a surge in interest for PSD II (Payment Service Directive). Here project managers and business analysts across regulatory portfolios are in demand. This has been complimented with hiring for professionals with backgrounds in large scale system implementations.
Job of the Month:
We are recruiting a number of positions for a global investment manager where we are seeking a business analyst to work on their entitlements programme where they are implementing the BaNCS application for income, corporate actions and tax withholding. This new platform will deliver greater straight through processing and be able to handle the increased complexity for the business.
If you have detailed experience in entitlements processing with business analyst experience then please make contact with your Morgan McKinley representative.