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Risk professionals failing to capitalise on shangri-la job market
Risk professionals are not seeing the benefits of an economic ‘perfect storm’ that should be improving their remuneration and job prospects, according to specialist risk recruiter, GRS.
Over a two week period in April and May, GRS polled 629 risk professionals to ask if the credit crunch had a positive impact on their remuneration - or on their career in general.
A staggering 69.2 per cent (435) said the credit crunch had not had a positive effect on their career. Only 30.8 per cent (194) risk professionals agreed that the credit crunch had had a positive impact.
Lee Carron, Principal Consultant, GRS Operational Risk said, “We found the results of our poll very surprising - the majority of risk professionals are not seeing the benefits of the credit crunch. Not only have we never had so many jobs on, but talent is scarce - so we were expecting some very good news from risk candidates. But, despite the current climate, the candidate-driven market, and high-profile for the skill set at the moment, less than a third of risk professionals think the crunch has had a positive impact for them.”
Lee Carron said there were a number of explanations that justified the surprising findings of the poll, “It could be that some employers’ HR departments are not listening to the call for top flight risk candidates yet –that will cost them dearly. It could be that candidates still don't appreciate their full worth. They just aren’t aware of the comparatively good position they are in.”
GRS also asked candidates if they felt the credit crunch had a negative impact on their remuneration or career advancement. Only 26% said that it had - while 74% said it had not.
Lee Carron said: “The credit crunch has been bad news for the majority of City professions. The fact that more than 435 risk professionals out of 629 – 30 per cent - said they have benefitted from the credit crunch is a great showcase for risk management. You’d be hard pushed to find 30 bankers in London who thought the credit crunch had done them any favours – let alone 30 per cent of them.”
