Salary Guide 2017: Risk

Tuesday, January 31, 2017

Risk and compliance professionals are proving to be increasingly in demand.

Risk professionals are proving to be increasingly in demand. 2016 has seen a significant growth for recruitment within risk management as organisations seek to attract experienced talent. We have seen that the primary focus for hiring managers is candidates with 3 plus years of experience across all areas of risk management.

Risk

RoleYears' ExperienceDublin
Cork
Limerick
Waterford
Operational Risk Analyst 0 - 3 35k - 45k 27k - 37k 27k - 37k 27k - 37k
3 - 5 45k - 55k 37k - 50k 37k - 50k 37k - 50k
5+ 55k - 75k 50k - 63k 50k - 63k 50k - 63k
Operational Risk Manager 0 - 3 65k - 75k 50k - 59k 50k - 60k 50k - 59k
3 - 5 75k - 85k 59k - 72k 60k - 70k 59k - 72k
5+ 85k - 100k 72k - 90k 70k - 90k 72k - 90k
Head of Operational Risk 0 - 3 85k - 100k 63k - 77k 63k - 77k 63k - 77k
3 - 5 100k - 120k 77k - 90k 77k - 90k 77k - 90k
5+ 120k - 150k 90k - 135k 90k - 135k 90k - 135k
Credit Risk Analyst 0 - 3 28k - 40k 25k - 36k 25k - 36k 25k - 36k
3 - 5 40k - 55k 36k - 50k 36k - 50k 36k - 50k
5+ 55k - 75k 50k - 68k 50k - 68k 50k - 68k
Credit Risk Manager 0 - 3 65k - 75k 59k - 68k 59k - 68k 59k - 68k
3 - 5 75k - 85k 68k - 77k 68k - 77k 68k - 77k
5+ 85k - 110k 77k - 100k 77k - 100k 77k - 100k
Head of Credit Risk 0 - 3 90k - 110k 80k - 100k 80k - 100k 80k - 100k
3 - 5 110k - 125k 100k - 115k 100k - 115k 100k - 115k
5+ 125k - 160k 115k - 150k 115k - 150k 115k - 150k
Enterprise Risk Analyst 0 - 3 35k - 45k 27k - 37k 27k - 37k 27k - 37k
3 - 5 45k - 55k 37k - 50k 37k - 50k 37k - 50k
5+ 55k - 75k 50k - 63k 50k - 63k 50k - 63k
Enterprise Risk Manager 0 - 3 65k - 75k 50k - 59k 50k - 59k 50k - 59k
3 - 5 75k - 85k 59k - 72k 59k - 72k 59k - 72k
5+ 85k - 100k 72k - 90k 72k - 90k 72k - 90k
Head of Enterprise Risk 0 - 3 85k - 100k 72k - 86k 72k - 86k 72k - 86k
3 - 5 100k - 120k 86k - 110k 86k - 110k 86k - 110k
5+ 120k - 150k 110k - 135k 110k - 135k 110k - 135k
Financial Engineer 0 - 3 35k - 55k 32k - 50k 32k - 50k 32k - 50k
3 - 5 55k - 70k 50k - 63k 50k - 63k 50k - 63k
5+ 70k - 95k 63k - 86k 63k - 86k 63k - 86k
Market Risk Analyst 0 - 3 30k - 45k 27k - 41k 27k - 41k 27k - 41k
3 - 5 45k - 55k 41k - 50k 41k - 50k 41k - 50k
5+ 55k - 75k 50k - 68k 50k - 68k 50k - 68k
Market Risk Manager 0 - 3 65k - 80k 59k - 72k 59k - 72k 59k - 72k
3 - 5 80k - 95k 72k - 85k 72k - 85k 72k - 85k
5+ 95k - 120k 85k - 110k 85k - 110k 85k - 110k
Head of Market Risk 0 - 3 100k - 110k 90k - 100k 90k - 100k 90k - 100k
3 - 5 110k - 140k 100k - 125k 100k - 125k 100k - 125k
5+ 140k - 180k 125k - 170k 125k - 160k 125k - 160k
Risk Advisory - Profesional Services 0 - 3 40k - 45k 36k - 40k 36k - 40k 36k - 40k
3 - 5 45k - 65k 40k - 60k 40k - 60k 40k - 60k
5+ 65k - 110k 60k - 100k 60k - 100k 60k - 100k
Business Modeller 0 - 3 30k - 35k 25k - 32k 25k - 32k 25k - 32k
3 - 5 35k - 50k 32k - 45k 32k - 45k 32k - 45k
5+ 50k - 80k 45k - 72k 45k - 72k 45k - 72k
Quantitative Risk Analysis 0 - 3 35k - 55k 32k - 50k 32k - 50k 32k - 50k
3 - 5 55k - 80k 50k - 72k 50k - 72k 50k - 72k
5+ 80k - 100k 72k - 90k 72k - 90k 72k - 90k

Commentary on Risk Roles and Remuneration in Ireland for 2017

Echoing last year we have seen multiple regulatory changes and new regulatory frameworks coming down from the ECB and then in turn the Central Bank of Ireland (CBI). Companies, in particular financial services organisations, are under increasing pressure to retain existing risk professionals.

The main challenge that can be seen in this market is lack of available job seekers who hold the necessary qualifications and have sufficient relevant experience within their various fields.

With risk we have seen a huge demand for ‘Big 4’ qualified accountants to move into the operational risk space. The PRIMA exams are also proving to be highly desirable for employers.

There is a talent gap in operational risk and enterprise risk, however high demand has pushed salaries in these sectors upwards and we have seen a salary increase of 10 – 20% on last year for candidates who posses the correct skillset.

Within the areas of Anti Money Laundering (AML) and Know your Customer (KYC) there has notably been a much stronger demand for candidates who can demonstrate deep knowledge of the relevant regulations. The pressure for such candidates at a mid-tier manager level with 3 - 5 years’ experience is higher than recent years.

Companies would have historically hired more senior Risk postitions from other departments internally, however in 2016 we have seen companies move away from this. As an increasing number of international financial services companies build out large risk functions here in Dublin they have an internal talent shortage and have had to go to market on such roles. We have seen a soar in the number of companies recruiting externally for positions at the ‘head of’ advice president level.

We have seen no significant change within the gender balance patterns in risk, however it can be noted that there has been an increase in the number of females moving into more quantitative positions, in particular at a junior level.

With the undersupply of locally based talent, we have seen larger financial services organisations target candidates with international regulatory and risk experience to fill positions. Candidates with such experience from Australia, Canada and the continent are proving to be very desirable.

We expect to see further Salary increases in 2017 as demand grows for experienced talent and as the ECB AND CBI continue to roll out new regulations that all financial services organisations will have to implement into their existing risk framework.

 This orginally appeared on morganmckinley.ie