As a risk management headhunter, on Tuesday and Wednesday, November 16th and 17th, I had the pleasure of speaking at the RMA market risk and counterparty risk roundtable meetings in New York City. RMA hosts these events twice per year for senior risk managers at RMA member firms and usually invites a risk management headhunter to join. Attendees included senior risk officers from Bank of America, SunTrust, Union Bank, Bank of Montreal, CIBC and others.
I was invited to speak about compensation (view our free compensation surveys here https://risktalent.com/salary_surveys/) as well as share my insight on the 2010 hiring trends in risk management headhunting. The meetings were well attended and the participants commented that they are doing the best they can to attract and retain talent. One insight from the meetings centered on training. While each firm certainly trains its risk professionals, most firms admitted that there is no longer any formalized bank training programs and that training mostly occurs on the job. Participants also commented that risk department headcounts are mostly stable, with the exception of adding mid to junior level risk professionals to deal with the regulatory demands on their businesses.