Insights

24 November 2022

The War for Quantitative Risk Talent – Key Takeaways

Financial services firms are fighting tooth and nail for qualified individuals who can help them meet to their growing requirements for quantitative analytics.

The demand for quantitative risk and compliance candidates in the financial services sector has drastically increased over the past few years. The need for talent has been driven by a variety of industry factors – regulatory requirements around stress tests for banks, increasingly complex financial markets, exponential growth of “big data”, front-to-back office automation, to name a very few. As a result, companies are fighting tooth and nail for qualified individuals who can help them meet their growing quantitative analytics requirements. As a niche recruitment firm focused entirely on risk, audit, and compliance, MBK is on the frontline of in these talent wars alongside our clients. Here is what we have learned:

It is a seller’s market. Hiring the best quants is a battle – drawn out negotiations, jaw-dropping salary increases, and bidding wars are the norm in this space.

Be ready to sponsor. Many quants are foreign citizens and require H1B or green card sponsorship. Get human resources, legal, and hiring managers all onboard so that these things do not detract from an offer. Employers who want to be competitive are prepared to meet these requirements, those who are not often have a tough road.

Knowledgeable partners are invaluable. These jobs are highly technical and require a specific skill set/knowledge base, and therefore hard to fill. Hiring managers often think they have a deeper understanding of the talent market than they actually do and are not as successful as they could be. Finding a recruiting partner (either internal or external) who not only understands the job requirements, but knows the market, and has access to a deep pool of talent will determine the success of these searches.

Location matters…but not as much as you’d think. We have found that as long as the key variables are there (e.g. money, title, responsibilities, etc) most clients are able to find candidates who are willing to relocate. However, flexibility in remote work arrangements or proximity to major centers certainly does help!

The talent war extends beyond finance. The growing need for quantitative analytics spans industry and we are seeing more and more candidates with competition offers outside of financial services (e.g. technology startups, pharma, etc).

We would love to hear your battle stories from the quest to find quantitative risk talent…please feel free to share your insights in the comments section or on our social media channels. If you would like to learn more about MBK Search and how we can assist you in your search or in finding qualified quantitative candidates, please email us directly: [email protected] or visit our website mbksearch.com.

Financial services firms are fighting tooth and nail for qualified individuals who can help them meet to their growing requirements for quantitative analytics.

The demand for quantitative risk and compliance candidates in the financial services sector has drastically increased over the past few years. The need for talent has been driven by a variety of industry factors – regulatory requirements around stress tests for banks, increasingly complex financial markets, exponential growth of “big data”, front-to-back office automation, to name a very few. As a result, companies are fighting tooth and nail for qualified individuals who can help them meet their growing quantitative analytics requirements. As a niche recruitment firm focused entirely on risk, audit, and compliance, MBK is on the frontline of in these talent wars alongside our clients. Here is what we have learned:

It is a seller’s market. Hiring the best quants is a battle – drawn out negotiations, jaw-dropping salary increases, and bidding wars are the norm in this space.

Be ready to sponsor. Many quants are foreign citizens and require H1B or green card sponsorship. Get human resources, legal, and hiring managers all onboard so that these things do not detract from an offer. Employers who want to be competitive are prepared to meet these requirements, those who are not often have a tough road.

Knowledgeable partners are invaluable. These jobs are highly technical and require a specific skill set/knowledge base, and therefore hard to fill. Hiring managers often think they have a deeper understanding of the talent market than they actually do and are not as successful as they could be. Finding a recruiting partner (either internal or external) who not only understands the job requirements, but knows the market, and has access to a deep pool of talent will determine the success of these searches.

Location matters…but not as much as you’d think. We have found that as long as the key variables are there (e.g. money, title, responsibilities, etc) most clients are able to find candidates who are willing to relocate. However, flexibility in remote work arrangements or proximity to major centers certainly does help!

The talent war extends beyond finance. The growing need for quantitative analytics spans industry and we are seeing more and more candidates with competition offers outside of financial services (e.g. technology startups, pharma, etc).

We would love to hear your battle stories from the quest to find quantitative risk talent…please feel free to share your insights in the comments section or on our social media channels. If you would like to learn more about MBK Search and how we can assist you in your search or in finding qualified quantitative candidates, please email us directly: [email protected] or visit our website mbksearch.com.

0

Leave a Reply

Your email address will not be published. Required fields are marked *

Search
Recent posts
LATEST INSIGHTS
28 November 2023
SEC Drops Hammer on Conflicts in Securitization Deals
The Securities and Exchange Commission (SEC) recently adopted Rule 192, spotlighting conflicts of interest in assembling and selling asset-backed securities (ABS). Here are 5 key takeaways for industry players to fully grasp what the SEC deems over the compliance line
10 November 2023
Key points in the Federal Reserve's November Supervision and Regulation Report
Federal regulators are turning up the heat on big banks, proposing an array of tougher capital, debt, and operational standards.
2 November 2023
SEC rule changes are driving a race for compliance talent
Enhanced regulation of private funds is fueling competition for compliance professionals. In the latest edition of our webcast, MBK Talks, marketing director Michael Oliver interviewed MBK Search’s chief executive officer Spencer Knibbe, to find out how firms should prepare for the new regime.
31 October 2023
Biden's AI executive order: 10 takeaways for CROs and CCOs
President Biden issued a sweeping executive order establishing a national framework for the development and use of AI technology in the United States. For chief risk officers and chief compliance officers in both the public and private sectors, there is much to consider. Here are ten essential takeaways to guide your thinking.
css.php