q1 market insight investment banking

www.badenochandclark.com

Market InsightInvestment Banking

2015 Quarter 1

04 Introduction

06 Compliance

10 Finance

12 Risk & Audit

14 Change & Project Management

16 Marketing & Communications

18 Human Resources

20 Legal

22 Operations

ContentsInvestment Banking

0f 24 Market Insight | Investment Banking | Badenoch & Clark Market Insight | Investment Banking | Badenoch & Clark Page 5 0f 24

Guy EmmersonOperations Director, Badenoch & Clark

Introduction

I hope you enjoy our commentary on Q1 and please feel free to let us know your thoughts and feedback.

I am delighted to introduce you to Badenoch & Clark’s first Investment Banking market update for 2015. Released on a

quarterly basis, this update breaks down the Investment Banking market by specialism and provides an insight into how the

recruitment market is changing and adapting to the impact of an ever diverse range of market factors, whether they be regulatory,

budgetary or talent based.

So what of 2015 so far? Our market update from Q4 last year painted a positive picture for 2015, with many hiring managers looking to capitalise on the continued increase in market confidence and increase headcount this year. Whilst I believe that this is still the case, we have seen a much slower start to permanent recruitment than anticipated, with many hiring managers having to wait for budgetary sign-off on permanent headcount. The outlook however remains positive with hiring managers who would have liked to have hired in Q1 now looking to Q2 to fulfil their resourcing needs. This delay has however resulted in the contracting market remaining strong.

Staff…more valuable than you think. Within many Banks, regulatory projects are dominated by high numbers of contractors reviewing systems, processes and implementing change. This appears to be the “go to” model in dealing with new regulations. Some firms however are now looking for a more permanent solution. The onslaught of new regulation is set to continue for many years, and Banks now need to consider the reality that when contractors move on, so too does their knowledge and experience. This can leave organisations with significant knowledge gaps and subsequent delays in change. Banks are now looking to convince contractors to take on permanent positions and are actively hiring into these teams on a permanent basis. In order to do this however, organisations must first overcome the pay gap between permanent and contract and provide transparency over long term development and growth within these positions. Needless to say regulatory projects will continue to test the market and resources for the foreseeable future.

Regulation The Regulators continue to make significant changes to the regulatory landscape, creating challenges to organisations to keep up with deadlines and remain compliant, but also to ensure they have the controls and infrastructure in place to remain effective and cost efficient whilst maintaining a high level of customer service. Additionally systems which had already been updated to deal with last year’s regulation, now need to be made fit for purpose operationally.

Political landscape An election year always brings with it an air of uncertainty, but markets in 2015 are also experiencing instability around Ukraine and the Middle East. Despite conservative outlooks in the market, the Middle East has performed better than expected in Q1 and has given rise to new confidence for the year. That being said, caution remains to be the focus as people look for a more stable geo-political landscape.


Compliance

Market DriversQ1 continued to see compliance teams struggling in a candidate short market. Candidates delaying their searches throughout the bonus period has led to recruitment processes taking longer than expected. Despite the shortage of candidates, hiring managers are remaining very selective in order to maintain the quality of staff within their teams.

Many Investment Banks are still battling with cost efficiencies within compliance. On the one hand they need to demonstrate to the regulators that they have adequate controls and headcount in place in order to provide sufficient oversight, and on the other they need to maintain a level of cost control and efficiency. Our clients continue to explore new ways to balance these two conflicting pressures.

Skill Sets in DemandQ1 has seen an increased demand for Monitoring and Thematic Review candidates, with clients specifically seeking experienced Assurance Monitoring professionals. Increased activity in Emerging Markets and other high risk investments will require new and altered monitoring plans as well as heavier controls from sanctions teams.

Compliance has always been a candidate short market and in the last quarter we have seen significant shortages at AVP-VP level. The nature of the Compliance market means that candidates can learn the basics and progress quickly in their careers, and reach AVP level in a relatively short period of time. The issue here is that clients looking to hire at AVP and VP level are looking for a depth of knowledge and experience of dealing with a range of unforeseen issues, something that can only be gained over time. The struggle is that compliance departments find their depth of knowledge stretched too thin at a middle management level, and so will need to hire multiple headcount to compensate for lack of experience. This has been demonstrated by high demand for candidates with stable CVs who have spent a few years in each position gaining a depth of knowledge, rather than quick exposure to multiple areas.

Many Investment Banks are still battling with cost efficiencies within compliance.Compliance has always

been a candidate short market and in the last quarter we have seen significant shortages at AVP-VP level.

Demand for candidates with

in-depth Sanctions skills continues to be strong, however there are many candidates

on the market who have worked in related positions but haven’t been able to develop strong enough skills

in investigating sanctions.

The struggle is that compliance departments find their depth of knowledge stretched too thin at a middle management level, and so will need to hire multiple headcount to compensate for

lack of experience.


Recruitment ChallengesA common theme that occurs for both the temporary and permanent markets in Compliance is the disparity between what hiring managers expect to pay candidates and the going market rate. In most specialisms, the increase in market rates happens at a manageable level; however rates have increased very quickly when candidate demand is high. In some cases this can lead to projects being scrapped when the true cost of hiring contractors comes to light. Banks will usually change their approach by distributing the responsibilities internally.

Hiring managers need to be aware of how candidate short the market is, and the effect this has on candidate salaries and rates and the speed at which these change.

Outlook for 2015The Compliance market will still be one of the strongest markets across the banking sector with both permanent and contract employees in high demand. Whilst Q1 was slower than expected, we are looking at significantly increased volumes in Q2 & Q3. As the market picks up and more candidates consider a move after they have received their bonuses, the increase in rates and salaries will begin to slow.

The conversations we have had indicate that the restructuring of the Compliance infrastructure which has dominated the last 2 years is now coming to an end. The focus of Banks now will be on embedding these new structures and making them fit-for-purpose. This might also make sign-off of additional headcount harder to get as we progress through the year.

Compliance

Candidate Motivations

Compliance candidates are in a strong position with high job levels and limited competition. This

has allowed them to examine what it is they are looking for in their next career move. In contrast to the stability that clients are looking for, candidates

are able to take risks and move around the market, comfortable in the knowledge that other

opportunities will present themselves.

Whilst candidates are reluctant to consider new opportunities prior to receiving their bonuses, and bonuses having been at acceptable levels for 2014, candidates are less concerned about bonus levels when making a move. In fact we have found that

remuneration comes second to career development and growth opportunities. Candidates are looking to gain management experience in order to allow them

to develop their careers vertically.

A candidate short market is increasingly driving rates upwards; furthermore, time to fill is proving increasingly challenging as strong

candidates are in process for multiple job opportunities


Finance

Market DriversRegulatory changes such as COREP which impacted businesses in 2014 have now become entrenched as BAU functions. This, coupled with a lack of candidates at AVP level due to off-shoring, means banks are finding it harder to increase the size of these teams with hires that have the required knowledge, resulting in more flexibility from line managers on the background of applicants deemed relevant e.g. Product Controllers being considered for liquidity based roles.

Cost efficiencies and off-shoring continue to be factors impacting the finance market, with many firms driving forwards this agenda into 2015. This puts further strain on available candidates who are looking to diversify their skill sets in order to make themselves more marketable in a changing landscape.

Skill Sets in DemandIn Q1 we have seen an increased demand from clients for Newly Qualified candidates, with specific interest in those qualified from Big 4/top 10 audit firms. This high demand in quality candidates has seen the pace of the market increase with multiple clients directly competing for the top candidates, who will often have multiple offers on the table. This also opens the door for candidates to receive counter offers from their current employers. Ultimately clients not only need to compete for candidates financially, but also through offering defined career development.

Regulatory Accountants and Liquidity candidates have also seen increased demand this quarter, and whilst there are limited numbers of strong candidates in this space, prior experience in these areas is highly sought after, particularly those with experience of driving and implementing change.

Recruitment ChallengesIn a candidate short market where there is increased competition between clients, an efficient recruitment process can make all the difference. In Q1 we have seen many clients struggle to keep pace with the market and subsequently lose out on the best talent.

Some of the greatest delays have been between initial release of a vacancy through to first interview stage, which can often leave the door open to competitors. An efficient and smooth process where candidates are told the benefits of joining an organisation will go a long way in limiting the risk of losing the first choice candidate.

Outlook for 2015We envisage seeing a continued demand for regulatory skill sets in Q2 along with an increase in the number of temp to perm conversions as clients try to keep hold of strong candidates and retain their knowledge.


Within regulatory reporting, candidates that have performed well / are deemed essential are being

rewarded with increases in daily rates and bonuses as a way of ensuring retention. This in turn is forcing salaries

and rates up in an attempt to attract the best talent.

Bonuses from 2014 across the finance market have been at acceptable levels, giving many candidates the sense of security and longevity they have missed over recent

years. This has contributed to an air of optimism in the market. Despite this welcome development, candidates

are still keeping a keen eye on the market and many candidates are still eager to explore new opportunities

that will further their careers.

We have also seen a need for candidates who specialise in Stress Testing ideally from either a core finance or capital background.

In Q1 we have seen many clients struggle to keep pace with the market


Risk & Audit

Market DriversRisk remains a major focus for banking organisations keeping up with the ever-changing regulatory landscape. Risk and Audit positions are still regarded as high priority, critical hires largely due to the continued roll out of new regulations. Specifically, we have seen Basel III, ICAAP and BCBS 239 impacting the market and fuelling the demand for Regulatory Risk and Control professionals to setup, re-design and implement frameworks in order to mitigate their exposure.

We have seen a number of firms proactively hiring large numbers of Risk & Audit professionals as a result of being hit by fines from the regulators, and needing to demonstrate that necessary action is being taken. Candidates, both internal and external, temp and perm, can be drafted in to resolve and plug the gaps within existing frameworks in order to maintain and demonstrate compliance.

Risk has never been a candidate rich market, and the continued need for specific skills and regulatory exposure limits the number of suitable candidates for each vacancy.

Skill Sets in DemandWe have seen a real drive for specific candidates in Q1, namely Wholesale Credit, Operational Risk (3rd line of defence – Internal Audit) and Quantitative specialists. A focus on quality candidates within these areas has seen our clients struggle to find the right candidate in required timeframes. These positions, which are naturally candidate short, require a more passive headhunt approach and as such take longer to find the quality of candidates that hiring managers are demanding.

Recruitment ChallengesOne of the major recruitment challenges facing Risk & Audit has been when our clients have required specific and niche skills where personality fit is also key. From a consultant’s perspective it is important to get a clear understanding of these requirements in order to find the right characteristics required. Meeting with consultants to discuss vacancies is a time efficient way of ensuring the quickest solution to resourcing needs.

Other challenges have largely been related to Quantitative Risk positions where a high level quantitative academic background is required, ideally at PhD level. These candidates are often hard to find and not always interested in careers within financial services.

Audit is a market that has been hugely hit by a shortage of candidates. Clients are struggling to find suitable candidates from financial services and thus having to looking further afield, e.g. the Big 4. However the disparity between salaries and rates in this area means that hiring managers often have to go over budget in order to attract the right candidates.

Outlook for 2015The Risk and Audit markets will continue to be buoyant throughout 2015, with departments looking to increase headcount across Operational Risk to keep up with the need for new and fit-for-purpose frameworks.

The top 20 banks will largely be focusing on BCBS 239 which will drive a large amount of recruitment as frameworks are due to be in place for 2016.


Candidates within Risk & Audit are still largely motivated by remuneration creating a highly competitive environment between banks battling for the top talent. Candidates are generally

looking for either greater bonus earning potential or an increased standing and influence within an organisation, either through skill set development or future career growth potential.


Change & Project Management

Recruitment Challenges

With some banks actively looking to reduce the number of contractors in favour of permanent staff, a number of our candidates have expressed concern over the lack of long term vision and potential for career advancement if these positions were taken on a permanent basis. In order to entice career contractors to convert over to permanent contracts, clients need to demonstrate that they are willing to invest in these candidates for the long term through competitive salaries and the opportunity to develop.

Outlook for 2015

For the rest of 2015 we will continue to see programmes with a regulatory mandate at the fore and the need for candidates with specific regulatory knowledge and proven experience of delivering and executing projects in the regulatory change space.

We also envisage that there will be the opportunity for candidates with analytical skills to step into more SME focused change roles, acting as an interface between the business and CTB teams ensuring complexities around product classes and regulations aren’t lost in translation.

Market drivers

We have seen different banks however taking different approaches. Below the top tier, we have seen banks opt for a broader approach, setting up regulatory change teams to deal with all new regulations on a cross asset basis. This is in contrast to the top tier banks who are taking a more specialised approach, with individual regulatory change teams set up to deal with the impact of specific regulations on individual products. Both approaches have merit but each come with their own unique set of challenges.

We have seen the Change market continue to be driven predominantly by the regulatory agenda, with most budget approvals being subject to a mandatory piece of regulation.

As the banks come to realize the benefits of having in place long term change teams to deal with new regulations, which look set to continue for years to come, many are looking at reducing the number of daily rate contractors in favour of permanent and fixed term contract staff.

There has been a unified approach from Finance & Risk departments in tackling regulatory reporting requirements, finding commonality in systems & processes in order to save money and push forward efficiency and become more streamlined.

Skill Sets in Demand

As regulatory change continues to be the driving force in the Change market, it stands to reason that the major factors affecting the skills that are in demand are also regulatory. This quarter we have seen our clients requiring candidates with detailed knowledge of Basel III, CRDIV, Firm Data Submission Framework (FDSF) and MIFID 2. Candidates with this regulatory knowledge and the ability to deliver business change projects have been in high demand.

Candidates with Portfolio & Governance skill sets, particularly with large scale transformation programmes who can demonstrate that they have delivered and executed projects to fixed timescales and to budget, have also been sought after this quarter.

The Change market is still highly active with a number of larger banks now having established teams set up to deal with the drive on regulatory change.


Candidates working in this market are trying to make themselves as versatile and marketable as possible. One of the best ways to do this is to gain exposure and detailed knowledge

of a broad range of regulations rather than specialising. This gives them the greatest opportunity when looking for their next position, whether it be contract or permanent. Earlier we mentioned the different approaches the banks are taking to the remits of the regulatory change teams, and this is where candidates are torn. The choice is between a top tier bank

and a narrower position or the opportunity to work for smaller banks with a broader remit and potentially more influence within the organization, but likely at a reduced rate or salary.

When it comes to large scale transformation programmes, candidates take the necessary time to consider a company’s stability and financial performance to ensure that the necessary

investment in programmes is secure.


Marketing & Communications

Major Drivers

Marketing & Communications has now become a major growth market. As organisations have become more optimistic about the future, companies are looking to invest and grow. In the last six months we have seen a significant increase in job volumes demonstrating that companies are proactively looking to bring in new business through their marketing and sales strategies.

This relatively quick resurgence in the Marketing & Communications market has led to a candidate shortage, with organisations scrambling to gain the best talent available, whether that is on a contract or permanent basis.

Many banks are taking the first six months of 2015 to re-evaluate their intranet and internal communications, leading to positions being created that take on a more internal journalistic feel.


With firms now looking to increase their market share, the first place they often look to grow is within Marketing & Communications. Alongside the overall increase in demand for candidates within financial services Marketing & Communications, we have seen a spike in hiring for those who can create quality content. As such we have seen a significant need for strong and experienced professionals from creative backgrounds such as financial journalists and copywriters.

Most of the positions that we have seen require prior experience in financial services, as a clear understanding of the sector and products means a shorter bedding in period for new starters, allowing companies to quickly pursue their growth agendas.

As many Financial Services firms see this investment as critical, getting the right talent is a key focus whether their hiring needs are on a permanent or contract basis. Many of our clients looking for contractors have been open to reviewing candidates on a one month notice period. In turn this has allowed permanent staff to look at a broader range of opportunities and have the opportunity to potentially diversify their skill set.

Recruitment Challenges

With candidates now in the driving seat and able to consider multiple options, clients will have to adapt in a number of ways. They will need to keep abreast of the market and up to date with salary and rate expectations. They will need to adapt their recruitment processes in order to keep pace with the competition and ensure that candidates have a smooth, positive, and quick experience during the recruitment process, and they will need to make decisions quickly to avoid the risk of losing their first choice candidate.

It is unsurprising that with Marketing & Communications, cultural fit is important. Clients require candidates to really have their finger on the pulse of their organisations and convey this externally. Candidates need to do in depth research into the organisations they are interviewing for in order to convey this.

Outlook for 2015

For the rest of 2015 Marketing & Communications will continue to thrive, however not without changes. Salaries and rates are predicted to increase throughout the year, given the candidate shortage, as organisations compete in securing top talent.

A number of our clients are looking to grow their teams by 33% over the course of the year with most of the new positions focusing around writers and generalists who can add value immediately.

In the last 6 months we have seen a significant increase in job volumes demonstrating that companies are proactively looking to bring in new business through their marketing and sales strategies.


Candidates are now enjoying the luxuries of a boom market in Marketing &

Communications and as such have found their negotiating position strengthened.

We have seen candidates raise their profiles either by securing more enticing job titles, or through strong salary/rate

negotiations.

Bonuses in Marketing & Communications are starting to recover, however

candidates are willing to leave their bonuses behind for increases in their

base salaries and for the right position.

Like most other candidate short markets, candidates tend to have multiple

opportunities open to them and clients with a shorter and smoother recruitment

process tend to be more successful in securing their top talent.


Human Resources

Market Drivers

HR functions in Financial Services had a quiet start to 2015 with many Investment Banks putting a freeze on hiring until final budgets and bonuses had been agreed. Restrictions on HR budgets and increased work volumes have put pressure on the resources within these teams and so most of the hiring we have seen in Q1 has been at a junior level for HR generalists/administrators to provide support during the bonus and salary review period.

Many of our clients have spoken about holding off on their recruitment until after the General Election in May. The uncertainty in the next government and which policies will be implemented has the potential to significantly change the priorities of any HR teams over the second half of the year. Having the flexibility to add additional headcount later in the year to deal with these changes is fueling the hiring managers’ decision to delay.


Clients are looking to remain adaptable in a changing market and environment and thus are looking for candidates who are themselves adaptable. HR generalist vacancies are where most of the job volumes have been in Q1 this year. Typically clients are looking for broad HR exposure so their skills can be utilized across the HR function providing much need flexibility when juggling priorities.

Outlook for 2015

Many clients have predicted that the market will pick up across both contract and permanent positions in Q2/Q3 now that the bonus period has come to a close. As candidates begin to put feelers out and explore new opportunities, the volume of replacement hires will increase. A more transient market of HR professionals will mean greater opportunity for companies to secure new talent.

A more transient market of HR professionals will mean greater opportunity

for companies to secure new talent.

Towards the end of the quarter we saw an increase in demand for Data and Analytical skills where our clients have been analyzing

data in relation to recruitment and headcount reviews for the next year.


HR professionals are gaining confidence in the growing market and are looking for positions

offering fresh challenges or a change in culture, putting salary expectations lower

down their list of priorities.

Candidates are looking for positions that will add something new to their skills and

experience and so opportunities across the breadth of financial services are being

considered.

HR generalist vacancies are where most of the job volumes have been in

Q1 this year


Legal

Market Analysis

Having seen a strong positive sentiment return to the UK economy over the latter part of 2014, 2015 has started with a mixture of feeling ranging from the EY Item Club predicting that the UK is likely to suffer a slump in growth (anticipating 2.4%, well below the 3.1% growth expected) through to the British Chamber of Commerce suggesting that the UK will exceed its growth expectations. It is highly likely that the economy will remain subdued as a result of the looming General Election, speculation about a referendum on the UK exiting the EU, and the impact of the ongoing crisis on the Eurozone. The Organisation for Economic Co-operation and Development is expecting The Bank of England’s Monetary Policy Committee to raise interest rates in “mid-2015”. This has created a fear of the impact that a rise in interest rates will have on individuals and SMEs.

Hiring Activity

Following a particularly busy end to 2014, we started 2015 with strong market confidence. Both January and February proved much quieter than we had initially expected although it transpired to be the ‘calm before the storm’. March has seen a large number of new roles arising across the market, within asset management, investment banking, alternative finance, the insurance market, general commercial, corporate, general banking and trade finance, litigation, commodities, funds and regulatory across a number of PQE levels. A large number of the new roles arising have been signed off as new head-count and this is a trend we have seen to continue throughout the last 6 months.

Pay Rates / Salaries

It continues to be difficult to clearly denote ‘market rate’ as salaries wildly differ across institutions and many longer term employees have yet to be aligned to their more recently hired peers. As with previous quarters we have seen a slow and continued rise in base salaries being offered across the market as organisations look to incentivise candidates to join their teams and as a response to the increased base salaries being offered within the leading City law firms. On the interim side, rates have remained steady across the quarter with niche roles continuing to offer day rates at £850+ but with c5 PQE lawyers remaining at the £600 - £750 level.

Challenges & Outlook

We are continuing to see candidates involved in multiple processes or receiving multiple offers with some organisations having run recruitment campaigns in a matter of weeks. The ability to move quickly is often a deciding factor in securing the best talent. Badenoch & Clark is fortunate in having a dedicated headhunting unit attached to the legal financial services team and as the general level of activity increases we are seeing that it is increasingly important to have access to passive job seekers and utilise this function on contingent, as well as search assignments. It is highly likely that Quarter 2 will continue to be full of activity, especially as bonuses will have been banked and many candidates are seeking new opportunities. This will create teams that are still often understaffed necessitating replacement hires on top of the increased ‘new head count’ opportunities.

Following a particularly busy end to 2014, we started 2015 with strong market confidence.

On the interim side, rates have remained steady across the quarter with niche roles continuing to offer day rates at £850+ but with c5 PQE lawyers remaining at the £600 - £750 level.

March has seen a large number of new roles arising across the market, within

asset management, investment banking, alternative finance, the insurance market,

general commercial, corporate, general banking and trade finance, litigation,

commodities, funds and regulatory across a number of PQE levels.


Market DriversIn the first weeks of this year we saw the Operations market in Investment Banking stall due to delayed headcount reviews from the top tier Investment Banks. This resulted in limited new vacancies being released in January and the market only picking up towards the end of February. That being said, the Operations market continues to be influenced by the regulatory changes hitting financial services with Operations teams still catching up on the internal processes/procedural changes required as a result of changes in regulation including EMIR, FATCA, Dodd-Frank, CRS and MIFID 2.

As banks look for further efficiencies, whilst maintaining a quality of customer service, they continue to drive forward with the automation of operational processes. This automation is gradually forcing Operations candidates to adapt to the changing needs of internal business units and their clients by utilising a more analytical skill set to generate ever more bespoke reports for the front office.

Whilst it has slowed and is beginning to settle, the off-shoring of Operations continues to put pressure on candidates in London to look for ways to diversify their skills. Many of the larger banks have now off/near-shored their middle and back office desks that cover Vanilla products with London becoming more specislised in structured products, positions facing off to clients and the front office and providing oversight to the off-shored teams.

Our clients are also looking at ways to retain specialist knowledge and promote internal mobility by actively looking for internal candidates to fill vacancies in the first instance. Whilst this is seen as a positive step to control costs and retain talent, our clients need to be vigilant as to not limit innovation and stifle new ideas through the lack of fresh blood.

Skill Sets in DemandDuring the course of Q1 we have seen multiple new vacancies within Lending Operations requiring candidates with a strong level of experience with Structured/Project Finance and Agency experience. These new positions were split equally between new hires through growth and replacement hires.

Tax Operations continues to be in demand with the larger banks struggling to find candidates with the right mix of technical BAU experience and exposure to regulatory changes. Clients would ideally like to see candidates from a BIG 4 background however they are struggling to gain the interest of these candidates due to uncompetitive salaries and roles that are too narrow.

As the Operations market continues to change and adapt to the changing environment we continue to see the gradual increase in the need for advanced MS Excel skills. VBA and macro programming is increasingly being upgraded from desirable to essential in middle office job descriptions. The ability to manipulate, develop and create bespoke reports is becoming a more prominent part of the BAU role.

Recruitment ChallengesRecruitment processes have been slow in Q1 with delays coming at every stage of the process from CV submission to first interviews and between interview processes. Whilst many candidates understand the pressures that hiring managers are under, the need for candidates to get detailed feedback between interviews can make the difference between securing the top candidate or settling for second best.

With the increased activity in regulatory change many clients are looking for Operations candidates to have a solid understanding of specific regulations. Unfortunately candidates normally only really gain an in depth knowledge of regulations at a senior level. When our clients request this experience it tends to be at a mid to junior level, resulting in hiring managers struggling to find candidates to meet their needs. Clients then need to decide whether to increase their budget and tap into the more senior market or to regroup and looking at internal options.

Outlook for 2015The remainder of 2015 is looking more positive than the first quarter. Q2 and Q3 are looking to be busier than Q1 however we are predicting steady levels with no real surge in demand. Looking forward there will be a focus on structured middle office operations professionals and for those with client facing and front office exposure. We will see the increased need for candidates with strong regulatory knowledge and Advanced Excel/VBA skills.

Candidates need to look long term and think about what the Operations market is going to look like in the next 5-10 years. They will need to consider their career goals and put in place plans to diversity their product knowledge, gain exposure to multiple regulations (keeping up to date with any changes) and gain a more project management based mentality.

Operations

Candidates need to look long term and think about what the Operations market is going

to look like in the next 5-10 years.The ability to manipulate, develop and create bespoke reports is becoming a more prominent part of the BAU role.

www.badenochandclark.com

© Badenoch & Clark 2014. All rights reserved. The information contained in this publication is intended for general purposes or guidance only. It does not purport to constitute professional advice. Badenoch & Clark accepts no liability for the accuracy of the contents or any opinions expressed herein.

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q1 market insight investment banking

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