Q&A with Daniel Postchi - Risk, Regulation and Compliance
Pubished 26th October 2022
What do you see as being the biggest challenge regarding your market speciality?
The biggest challenge has been finding strong candidates. It’s been a unique year; it's become a very candidate led market. According to financialreporter.co.uk, 57% of UK finance leaders are worried about a potential lack of new hires. As businesses scramble to secure the right talent, competition in the market has risen to levels never experienced before.
What changes do you see happening in the market?
Moving forward, I expect we’ll see the market eventually even out a little bit. As we head towards a potential recession, businesses may adopt a cautious approach to hiring and potentially adapt their recruitment plans depending on market conditions. Additionally, the contract market also faces uncertainty as government policy around IR35 continues to be debated.
What’s trends are you seeing across the Risk market?
Certain areas of the Risk market are very active. Particularly liquidity, prudential risk and credit risk modelling are in-demand areas where clients consistently need to add headcount.
In terms of overall market trends, businesses have become much more aware of benchmarking against competitors. Due to the candidate driven market, we’ve particularly noticed remuneration is high on the comparison agenda. As demand for the right candidates has increased, this naturally leads to significant salary increases. Clients need to know how competitive their offers are and rely on our expertise to negotiate with candidates and manage expectations.
What advice would you give to clients?
The main piece of advice that I give to clients is to act at pace throughout the recruitment process to secure the best candidates. Our recent market intelligence report revealed that 69% of candidates lose interest in a role after 1 week. Therefore, clients that move the quickest and provide regular touch points tend to secure the best candidates.
Candidate feedback has also revealed that they’ve struggled with long interview processes and heavy tasks to conduct as part of the application. Typically, a candidate has several different opportunities, so it can be challenging to adequately prepare especially if the candidate is already in a full-time role. It’s a challenging balancing act as businesses need to ensure candidates have the right skill set for the role. However, a drawn-out process with many interview stages can lead to candidates losing interest and eventually dropping out of the process.
We’ve also seen that clients are sometimes guilty of not fully selling the role or their wider business. Given how competitive the market is, it’s vital that clients do their upmost to engage candidates. Candidates want to know more about the type of people they will be working with, the wider culture of a business, additional benefits such as flexible working and opportunities available for future career growth.
What general challenges do you see in the marketplace?
We’re going through both turbulent economic and political conditions particularly in the UK right now. I expect this uncertainty to bring challenges to the market. Ultimately, these factors are out of our control, but I believe the overall Risk market will remain strong given the positive levels we’re seeing now.
Get in touch:
If you are interested in discussing your career options or would like to discuss how we can help you find great talent please get in touch with Daniel: