Q3 has been a steady quarter overall, although there has been a slight slow down in the processes during the summer period, as it has been expected due to the holidays, this has rapidly picked up in September. We have seen a movement away from the typical hires of 2018 and start of 2019 such as heavy Regulatory Change positions to more technical and customer centric opportunities.
Asset Managers specifically have started shifting towards a more Agile delivery, hence we have seen an increase in demand for candidates who display a blend of alternative project methodologies, such as Agile, Scrum, Lean and Waterfall. The typical project management positions have seen a shift in requirements, from the traditional delivery to an emphasis on strategy – this has led to an increase in more strategic projects where the skillset needed is a combination of project delivery and strategy.
We have also noticed that ESG awareness is rising and Asset Managers’ interest in ESG investing has started to grow considerably, which has also started to lead to number of Change hires to help companies design ESG and sustainable investing strategies and improve their performance.
Similar to the previous quarter, we have continued to see a noticeably greater number of Business Analyst positions opening up in comparison to Project Management opportunities. We have seen consistency in recruiting for mid-level BA’s in permanent roles and mid and senior level within the contract space.
We have noticed a drive for Front Office projects experience, intelligent automation and process automation, digital and Transformation projects and strategy experience. Technology has been another area of growth over the last year, with more and more clients embracing technology changes across the value chain – including new client onboarding, bespoke investment solutions, research and portfolio management, middle and back office processes, client engagement and distribution areas. This has resulted in a demand for more technically skilled candidates, hybrid business/Tech individuals and BA’s and PM’s with process re-engineering experience.
The Regulatory space has remained active to some extend, specifically on the contract side, where there has still been demand for candidates to join Trade and Transaction reporting projects for MIFID or EMIR. A few other programmes that have required hiring at BA and PM capacity are SMCR, CSDR and FCA Value for Money.
The Project and Programme Management positions that have been released over the last quarter have been at senior level, with a lot of emphasis on candidates’ ability to manage multiple workstreams and engage and build relationships with senior stakeholders across multiple areas in the business.
Another area of demand has been the PMO space – we have been engaged to recruit for both permanent and contract positions within Central PMO functions, but also within specific Transformation
programmes. The role profiles have been more towards the junior end at PMO Administrator or Analyst level.
Looking ahead, the hiring needs across the contract and permanent market are expected to remain high and clients are to continue to express a demand for BA’s and PM’s with relevant experience to help drive forward projects such as digital, transformation or process re-engineering projects. Distribution projects focused on client journeys and improving the overall experience of the client will continue to be a high priority and therefore, candidates with experience in this space will still be in high demand.
In the contract space, we are expecting to see a slight increase in the number of Fixed Term Contracts and PAYE Day Rates instead of LTD / Umbrella Day Rates positions, in response to the IR35 legislation which will take effect from Q2 next year.
For more information about the market or current opportunities please contact one of our Consultants.