Just 40 days away from the second quarter, we are in banks' prime hiring season. Budgets are there to be spent, headcount has been signed-off, hiring is on.
Based upon publicly available data taken from banks' own websites, which are the most interesting and potentially remunerative jobs on offer in the financial services industry now? We looked at the openings available at Goldman Sachs, J.P. Morgan, Morgan Stanley and Deutsche Bank, and we'd suggest the following:
1. Goldman Sachs is looking for someone to run a team to deal with the compliance concerns of 'the Federation' in Europe
As we've noted before, Goldman doesn't call its infrastructure business "infrastructure" any more. Nor does it call it, "operations." It calls it, "The Federation."
The Federation at Goldman Sachs comprises operations, technology, finance, services and HR. It's a measure of how important compliance has become, that these services need their very own dedicated compliance team.
Goldman is advertising for a vice president with 10-15 years' compliance experience to lead a team of 5-7 compliance professionals supporting the Federation, based in Europe.
2. J.P. Morgan has set up a new compliance surveillance unit in its corporate and investment bank, and it's looking for a vice president (VP) to work on "e-communications and investigations"
In the wake of the chat room excesses of traders involved in the LIBOR and FX manipulation scandals, e-communications and surveillance have become a big topic.
J.P, Morgan has set up an 'EMEA CIB Compliance Surveillance unit' which it says will eventually comprise "over 20 compliance officers/analysts." The purpose of this unit will be to, "undertake surveillance of electronic communications (e.g. e-mail, Bloomberg communications, etc) and telephone communication monitoring."
For the moment, the bank is looking specifically for someone to work in the e-surveillance element of the team. This will ultimately comprise 11 people and will monitor all electronic communications. The candidate will need, 'proven experience working as a regulatory/exchange enforcement officer or in a role in audit, risk management, compliance or similar function.'
This looks like a good opportunity to get in on the ground in a growing area.
3. J.P. Morgan is hiring a lot of analysts and associates in its investment banking division (IBD)
2014 was a good year for analyst and associate hiring, and it looks like 2015 will be too. Right now, J.P. Morgan alone is recruiting analysts and associates for its London-based telecoms media and technology team. It's also recruiting analysts and associates for its consumer and retail team and for its healthcare team. And it's recruiting associates for its EMEA financial institutions group (FIG) and its metals and mining team.
4. Morgan Stanley is looking for a VP-level 'interest rates e-markets e-trader'
As last week's charts from Deutsche Bank helpfully clarified, rates products comprise the bulk of the OTC derivatives market.
However, efforts are being made to automate rates trading along with other fixed income products. Morgan Stanley says it's growing its, "automated market-making and hedging strategies for electronically traded interest rates products," and is therefore looking for a trader to manage its, "European portfolio of automated trading algorithms." Products traded include government bonds, bond futures, interest rate swaps and interest rate futures. The ideal candidate will have a degree in maths, statistics, or financial engineering, knowledge of listed and OTC market structures, and expertise with front-office trading systems and back-office trade workflows.
5. Deutsche Bank is looking for several experienced analysts in IBD
Like J.P. Morgan, Deutsche Bank is doing some IBD hiring. Right now, it wants: an analyst 2 for its natural resources group, an analyst 2 for its healthcare group, and analyst 3 for its FIG group.
6. Deutsche Bank has got a new programme known as 'three lines of defence'. It needs a technology programme manager for it
As became apparent when Deutsche Bank reported its fourth quarter results, the German bank is spending heavily on compliance and control.
A job opening on Deutsche's careers site helps clarify where all this money is going. The German bank has a new 'programme team' known as '3 lines of defence.' This is, 'responsible for further developing the internal control systems and standards across the business divisions and infrastructure units in accordance with new regulatory requirements.' As a measure of its importance, the 3 lines of defence teams report directly into Anshu Jain and Jürgen Fitschen.
Deutsche is currently conducting pilot studies for technology and operations projects within the 3 lines of defence programme. The results will feed into a 'target operating model for the control organisation.'
The bank is looking for an experienced business analyst and project manager to work on the projects inception.
7. Goldman Sachs has an open invitation to join its Strats Group
If you're a quant, Goldman Sachs' strats group has a reputation as an exciting place to be. Top members of the group are said to make more money and to have more responsibility than at rival firms.
If you're quantitatively minded, therefore, you may be interested in Goldman's longstanding advertisement for analysts, associates and VPs to join its strats group in London. Candidates can have a PhD, masters or bachelors degree and are invited to join securities strats, investment banking strats, or investment management strats. The bank wants to hear from, 'bright individuals who have advanced mathematical and computational backgrounds and a willingness to learn about finance.' An understanding of maths, technology and finance will help.