Due to the ongoing current issues affecting the global financial markets, risk management has been bit particularly hard. This is mainly due to the blame game within the investment banking market and the extent of the losses and rationalisation within the banking sector. Due to the knock on effect of these issues there has been a large reduction in vacancies, especially on the contract side of the risk market. With companies such as Fortis laying off entire Risk contracting teams in the Belgian market.
Outside the banking market, other areas of risk have thrived - particularly the insurance sector. The ongoing need for strong candidates to help Insurance companies come up to speed with the new Solvency II directive has caused a large amount of candidates from the banking sector involved in Basel II to migrate. There also seems to be an emergence of 'Convergence Risk Management' to fills the gaps brought about by the current silo-based model. One that has been noted by the 'Big 4' consultancies.
Genesis has a dedicated risk team who work with most of the major players in the risk market across EMEA. Originally purely recruiting Basel II professionals into the UK market within Investment Banks and Consultancies, the team has expanded to meet their clients need to recruit throughout the Benelux region. Specifically aiming at recruiting those people with experience of working within Risk Management (Economic Capital, Economic Value Added, Regulatory Reporting, Basel II, Asset Liability Management and Solvency II) and placing them into the best suited client, Genesis has the advantage of a European-orientated database of candidates which allows us to search for candidates not only within the given country but also from other countries looking to relocate into a new market. This gives us a genuine edge over our competition in helping us service more clients and in more diverse locations.