Non-Financial Risk Insights – June 2024

• This month, recruitment activity has slowed down. This has been impacted by factors such as entering the summer period and the general election.
• There has been a demand for those with third-party risk experience. This is due to several reasons. Organisations are increasingly outsourcing various functions and services to third-party vendors to improve efficiency, reduce costs, and focus on core competencies. This reliance on external partners raises concerns about managing risks associated with these third parties. Recent UK Resilience regulations and DORA have also impacted demand.
• Non-Financial Risk (NFR) candidates with product experience are hard to find. Getting into product details is usually not an NFR prerequisite. When recruiting Individuals for clearing houses and exchanges, an understanding of the processes around risk models is necessary to be successful in the role.
• Several large financial institutions streamlining and cutting costs have meant an increase of immediately available candidates in the asset management and banking sectors. It’s a great time to employ strong talent who wouldn’t typically be available in busier markets.
• Companies outside of financial services are increasingly recognising the importance of NFR management due to the growing complexity of their operations and the external environment. These companies span various industries, including technology, healthcare, manufacturing, retail, energy, and more.

Molly Philipps

Principal Consultant Non-Financial Risk
mtp@barclaysimpson.com
020 7936 8981

Please reach out if you would like advice on hiring in the Non-Financial Risk sector.
Barclay Simpson has 20 years’ experience in this space, and we can offer deep insight into how the market is changing and how to secure the best candidates.