You need to enable JavaScript in order to use the AI chatbot tool powered by ChatBot

Staying ahead of the game - safeguarding for the future

Deem NaPattaloong our consultant managing the role

Looking forward to the end of the year, it is unfortunate to state that the Covid crisis is still a huge part of our lives, and with this comes the expanding impact on the global economy. True, a few sectors have done well under lockdown conditions but they have been the exception. It has been suggested that by the time this crisis is over, it could, through the destruction of the economy, cause much more harm to the financial system than the 2007 financial crisis, with talk of a V-shape recovery becoming muted. The future is somewhat unknown, and with no vaccine, the virus will continue to change the world we know.

The financial sector

One particular sector which has weathered the storm is banks and other financial intermediaries. They did this by being quick to react and adjust to the new business environment. An environment that requires more attention to liquidity management, conducting business over a long distance, and offering more time and support to their clients.

However, the real test will come when the debt moratorium ends. Banks will need to have a clear picture of the outlook of their clients and their new risk profile. "


Brexit in the background

There is also no forgetting Brexit, rearing its head in the background of the pandemic. While we wait for a negotiated deal, the outlook is still concerning, as things will not be the same for most businesses moving forward. A new normal and a new kind of relationship with the EU requires a full-scale reassessment of risk. Banks and other financial intermediaries will need to upgrade their risk management systems, just like they did post the 2007 financial crisis. Like before, banks that stay ahead of the game will emerge as clear winners. 

Safeguarding for the future

  • Risk - when the ceiling has been lowered on the revenue front, it makes sense for banks to focus their attention on risk, and to put in more efforts to minimise foreseeable loss. Among other things, banks will want to recalibrate their credit risk models, taking into account the varied impact of Covid on all the economic sectors.
  • Credit quality - financial institutions will need to reassess the credit quality of their clients after they emerge from the crisis; paying particular attention to those in sectors that had been more exposed to the fall out. New data and assumptions will have to be incorporated into the model in order to determine EBITDA, free cash flow and costs.
  • Technology - This will, of course, play an important role in risk management. Banks will employ new technologies to help manage operational risk, credit risk as well as market risk. If the 2007 crisis is any indication of things to come, a lot of hard work will have to be put into the management of credit and operational risks, employing new technologies to monitor banking operations, review data and reconfigure risk models.

Talent insight

For now and for a long time to come, talented risk managers and professionals are what banks will continually need - people with the right set of skills and experience. Unfortunately, the talent pool of risk managers has not been expanding in line with the new demand.

Over the past decade as regulatory demands were on the rise, becoming increasingly more complex, no meaningful efforts were made to attract more talented people into the field of risk management. This has led to a shortage of skilled risk managers even before the emergence of the pandemic. Given the urgency of our current climate banks will not have the time to train people and will need to recruit. This is where we come in, if you're a professional within risk, please get in touch now.

16/10/20
jobs

Related jobs

Senior Prudential Risk Analyst

Salary:

£85,000 - £90,000 per annum + + bonus + benefits

Location:

City of London, London

Industry

Investment Banking & Capital Markets

Qualification

None specified

Market

Financial Services

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

An International Banking Group is looking to add an experienced Prudential Regulatory professional to their team.

Reference

BBBH183985

Expiry Date

01/01/01

Florin Hodinitu Find out more
Finance Business Partner

Salary:

£55,000 - £60,000 per annum + + bonus + benefits

Location:

Fleet, Hampshire

Industry

Investment Banking & Capital Markets

Qualification

Fully qualified

Market

Financial Services

Salary

£60,000 - £70,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

A financial services institution is seeking a Finance Business Partner to join the team.

Reference

BBBH183984

Expiry Date

01/01/01

Florin Hodinitu Find out more
Finance Assistant

Salary:

£30,000 - £35,000 per annum

Location:

London

Industry

Business Services

Qualification

None specified

Market

Professional Services

Salary

£35,000 - £40,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

A world-renowned consultancy - assisting companies in their future - is seeking a Finance Assistant.

Reference

KD6060

Expiry Date

01/01/01

Kimberley Donovan Find out more
Financial Controller

Salary:

£63,000 - £70,000 per annum + Additional Benefits Package

Location:

Chester, Cheshire

Industry

Real Estate

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£70,000 - £80,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

I am currently recruiting for a leisure organisation in their search for a Financial Controller to work out of their Chester site paying £70,000

Reference

BBBH183302

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Deputy Finance Director

Salary:

£83,000 - £94,000 per annum + 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 for an exciting international technology organisation based out of Wilmslow paying up to £94,000 + car allowance.

Reference

BBBH183253

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Finance Business Partner

Salary:

£63,000 - £70,000 per annum

Location:

Manchester, Greater Manchester

Industry

Professional Services

Qualification

Fully qualified

Market

Professional Services

Salary

£70,000 - £80,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Exciting Finance Business Partner role working out of Manchester city centre for a professional services organisation paying up to £70,000.

Reference

BBBH183879

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Financial Risk Analyst

Salary:

£40,000 - £45,000 per annum

Location:

City of London, London

Industry

Investment Banking & Capital Markets

Qualification

Part qualified

Market

Financial Services

Salary

£40,000 - £50,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

The chance to join a subsidiary of a global Investment Bank as a Financial & Risk Analyst reporting directly to the CFO.

Reference

BBBH183983

Expiry Date

01/01/01

Thomas  Steel

Author

Thomas Steel
Find out more
Treasury Analyst

Salary:

£35,000 - £55,000 per annum + Bonus

Location:

South Yorkshire

Industry

Energy, Resources and Industrial

Qualification

None specified

Market

Commerce & Industry

Salary

£50,000 - £60,000

Job Discipline

Treasury

Contract Type:

Permanent

Description

Treasury Analyst - South Yorkshire - Up to £55,000 Interviews ASAP!

Reference

BBBH183972

Expiry Date

01/01/01

Ben  Shapiro

Author

Ben Shapiro
Ben  Shapiro

Author

Ben Shapiro
Find out more
Corporate Financial Analyst

Salary:

£45,000 - £55,000 per annum

Location:

London

Industry

Transport & Logistics

Qualification

Part qualified

Market

Commerce & Industry

Salary

£50,000 - £60,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Our client in the asset management and leasing sector is currently seeking a Corporate Finance Analyst to join their team in London.

Reference

HLM183977

Expiry Date

01/01/01

Harry Latham

Author

Harry Latham
Find out more
Financial Controller

Salary:

Up to €68,000 per annum

Location:

Utrecht

Industry

Business Services

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£50,000 - £60,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Ben jij de nieuwe financial in de fashion industry?

Reference

BBBH183654

Expiry Date

01/01/01

Elisa Beckschebe Find out more
View all jobs