BoE finds financial services in improving health
The Bank of England (BoE) has claimed British financial services are in better health than they have been in recent years, with perceived probabilities of a high-impact event in the system falling to their lowest levels since 2008.
According to the BoE's semi-annual systemic risk survey, just eight per cent of industry experts think a major problem such as the collapse of a bank is likely to take place in the next year. This is down by 12 percentage points since the last report, suggesting burgeoning confidence levels in an industry that has endured some tough times recently.
This is reflected by the fact that 17 per cent of respondents were completely or very confident in the overall stability of the UK financial sector, with 70 per cent fairly confident on this. Only 13 per cent were deeply concerned about the industry.
The two main risks to the British financial system remain an economic downturn and sovereign risk - especially in the euro area, where conditions remain uncertain and discomfiting for financial services experts.
However, operational difficulties were also cited by respondents as something that could arise over the next 12 months. Almost a quarter of industry professionals suggested these could be a possibility, with cyber security highlighted as the biggest shift in this area.
The BoE recently announced that Charlotte Hogg is taking over as its chief operating officer, having previously occupied a senior role at retail bank Santander.
Mark Carney, who will replace Sir Mervyn King as governor of the central bank on 1st July, made the appointment. He hailed Ms Hogg's experience and business acumen.
"Charlotte brings an outstanding track record and breadth of experience that will help to catalyse that change and I look forward to working closely with her to realise the full potential of the new institutional structure of the bank," he added.
http://www.bankofengland.co.uk/publications/Documents/other/srs/srss2013h1.pdf
Signup to receive the latest discipline specific articles
Related articles
Teaser
GovernanceContent Type
Fintech
18/04/24
Summary
The role of risk and compliance in financial services As a sizeable, growing portion of the financial services sector, risk and compliance play a vital role in ensuring that firms conduct busine
by
David Clamp
Teaser
Executive SearchContent Type
General
18/04/24
Summary
Private equity (PE) is a growing industry that has always attracted ambitious top talent due to its high risk/high gain capital investment. Pre-covid, we saw the global private equity industry b
by
Tracey Alper
Teaser
Commerce & IndustryContent Type
General
18/04/24
Summary
What is financial contracting? Financial contracting refers to the practice of hiring finance professionals on a contractual basis to fulfil specific roles or projects within an orga
by
Kelvin Murphy
Related jobs
Salary:
Negotiable
Location:
London
Industry
Energy, Resources and Industrial
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£80,000 - £100,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
A high growth, renewable energy business based in Central London is currently seeking a new Management Accountant to join the team.
Reference
HAS3344210
Expiry Date
01/01/01
Author
Hannah SpearsAuthor
Hannah SpearsSalary:
£30 - £32 per hour
Location:
Stevenage, Hertfordshire
Industry
Manufacturing
Qualification
None specified
Market
Commerce & Industry
Salary
£250 - £350
Job Discipline
Project & Programme Management
Contract Type:
Permanent
Description
Manufacturing Project Manager for our Defense and Space Manufacturing Client.
Reference
BBBH180032
Expiry Date
01/01/01
Author
Joshua MasseyAuthor
Joshua MasseySalary:
Up to £27,000 per annum
Location:
Bristol
Industry
Insurance
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
Finance Assistant. This is a 12-month part-time (C.22 hours) FTC with a potential opportunity to go permanent. 27k pro rata
Reference
BBBH180026
Expiry Date
01/01/01
Author
Ali ArslanAuthor
Ali ArslanSalary:
£40,000 - £50,000 per annum + Strong Bonus & Benefits
Location:
London
Industry
Business Services
Qualification
None specified
Market
Professional Services
Salary
£50,000 - £60,000
Job Discipline
Project & Programme Management
Contract Type:
Permanent
Description
Role within High-Growth Specialist Consultancy as they build out their Commercial Change & Transformation offering
Reference
BBBH179934
Expiry Date
01/01/01
Author
Henry TownsendAuthor
Henry TownsendSalary:
£40,000 - £55,000 per annum
Location:
West Yorkshire
Industry
Business Services
Qualification
Finalist / Newly qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Internal Audit
Contract Type:
Permanent
Description
Marks Sattin are currently working with a leading PLC who are recruiting for a Senior Internal Auditor to join the team.
Reference
BBBH180007
Expiry Date
01/01/01
Author
Rajveer SanghaAuthor
Rajveer SanghaSalary:
£28,000 - £30,000 per annum
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Commerce & Industry
Salary
£30,000 - £35,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Credit Controller role in Leeds - Middle East/Asia Ledgers
Reference
BBBH179367
Expiry Date
01/01/01
Author
Cameron WalshAuthor
Cameron WalshSalary:
Negotiable
Location:
London
Industry
Media & Communications
Qualification
Part qualified
Market
Commerce & Industry
Salary
£30,000 - £35,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
An international events company, specialising in the sports, betting and gaming industry, are seeking a Finance Assistant.
Reference
KD0606
Expiry Date
01/01/01
Author
Kimberley DonovanAuthor
Kimberley DonovanSalary:
£32,000 - £37,000 per annum + Study support & Bonus
Location:
Leeds, West Yorkshire
Industry
Manufacturing
Qualification
Part qualified
Market
Commerce & Industry
Salary
£35,000 - £40,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Really excited to be partnering with a market leader in their field to support them recruit an Assistant Financial Accountant to join their team.
Reference
179873
Expiry Date
01/01/01
Author
Laura GunbyAuthor
Laura GunbySalary:
£40,000 - £60,000 per annum
Location:
West London, London
Industry
Energy, Resources and Industrial
Qualification
None specified
Market
Commerce & Industry
Salary
£60,000 - £70,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
Temporary to permanent Payroll Manager
Reference
BBBH180023
Expiry Date
01/01/01
Author
Chelsea MillsAuthor
Chelsea MillsSalary:
£50,000 - £65,000 per annum
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£60,000 - £70,000
Job Discipline
Internal Audit
Contract Type:
Permanent
Description
A great business keen to recruit for an Internal Audit Manager to come onboard and join the team.
Reference
BBBH180005
Expiry Date
01/01/01
Author
Rajveer SanghaAuthor
Rajveer Sangha