Financial Services hiring caution should still be the watchword
Statistics from Venn Group’s latest employment trends report show that hiring in areas such as regulation and compliance has jumped considerably in the first quarter of 2014 in response to the stringent requirements set out by the FCA and PRA relating to risk frameworks. Despite this, however, the sector will have only recovered half the ground it lost during the financial crisis, a picture confirmed by the recent CBI/PWC survey.
Jodie Finn, associate director at Venn Group says, “In quarter one 2014 we saw a significant rise in risk and compliance roles, which is not surprising given the pressure the sector finds itself under in the current regulatory landscape. However, institutions are still being cautious, particularly in light of the wide scale redundancies that have been announced in recent months. So while we expect the hiring of these business critical professionals to remain buoyant, we expect non-business critical roles to remain stable at best.”