BoE finds financial services in improving health

David Harvey our consultant managing the role

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

 

 

11/04/16
posts

Related articles

What's the latest on recruiting senior finance and accounting professionals?
What's the latest on recruiting senior finance and accounting professionals?

Teaser

Finance & Accounting

Content Type

General

25/04/24

Summary

Over the years, we have developed a strong reputation as a leading Senior Finance and Executive Search firm. We’re proud to have well-established teams of finance and accounting recruitment cons

Teaser

Our employment update for senior accounting and finance professionals.

Read full article
Neil Burton

by

Neil Burton

Neil Burton

by

Neil Burton

How technology is impacting the future of risk and compliance jobs
How technology is impacting the future of risk and compliance jobs

Teaser

Governance

Content 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

Teaser

With no signs of slowing down, strong risk and compliance is now more important than ever.

Read full article
David Clamp

by

David Clamp

David Clamp

by

David Clamp

What does the future hold for private equity?
What does the future hold for private equity?

Teaser

Executive Search

Content 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

Teaser

Learn about emerging private equity job opportunities and more.

Read full article
Tracey Alper

by

Tracey Alper

Tracey Alper

by

Tracey Alper

jobs

Related jobs

Fund Controller - Renewables (6m Contract)

Salary:

+ pension & benefits

Location:

City of London, London

Industry

Investment Management

Qualification

Fully qualified

Market

Financial Services

Salary

£80,000 - £100,000

Job Discipline

Newly Qualified Finance

Contract Type:

Contract

Description

Fund Controller - Renewables - 6m Fixed Term Contract

Reference

BBBH180368

Expiry Date

01/01/01

Paul Roche

Author

Paul Roche
Paul Roche

Author

Paul Roche
Find out more
Fund Controller - Private Credit Funds

Salary:

£65,000 - £75,000 per annum

Location:

London

Industry

Private Equity

Qualification

Fully qualified

Market

Financial Services

Salary

£70,000 - £80,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Fund Controller - Private Credit An excellent opportunity has arisen within a big player in the private credit sector who looking to hire a Fund Controller.

Reference

BBBH179469

Expiry Date

01/01/01

Paul Roche

Author

Paul Roche
Paul Roche

Author

Paul Roche
Find out more
Corporate Tax Accountant (4 month contract)

Salary:

Up to £400 per day

Location:

London

Industry

Investment Banking & Capital Markets

Qualification

Fully qualified

Market

Financial Services

Salary

£350 - £450

Job Discipline

Tax

Contract Type:

Contract

Description

Corporate Tax Accountant (4-6 month contract)

Reference

BBBH178574

Expiry Date

01/01/01

Paul Roche

Author

Paul Roche
Paul Roche

Author

Paul Roche
Find out more
Regulatory Reporting Accountant - Banking (Contract)

Salary:

£375 - £450 per day

Location:

London

Industry

Investment Banking & Capital Markets

Qualification

Fully qualified

Market

Financial Services

Salary

£350 - £450

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

An international corporate bank is currently seeking a regulatory reporting accountant to join their finance team on a contract basis.

Reference

BBBH180315

Expiry Date

01/01/01

Paul Roche

Author

Paul Roche
Paul Roche

Author

Paul Roche
Find out more
Deputy Finance Director

Salary:

£80,000 - £88,000 per annum + £7,000 Car Allowance + Benefits

Location:

Wilmslow, Cheshire

Industry

Technology

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Deputy Finance Director role working for an international technology business based just outside Wilmslow paying around £85,000 with car allowance.

Reference

BBBH179742

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Group Reporting Manager

Salary:

£65,000 - £73,000 per annum + Excellent Benefits Package

Location:

Manchester, Greater Manchester

Industry

Consumer & Retail

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£70,000 - £80,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Group Finance Manager role paying circa £70,000 based in Manchester city centre for a listed organisation offering a hybrid working model.

Reference

BBBH180230

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
View all jobs