If you've lost your job in credit or rates trading and are holding out for something similar, bad luck. There aren't many fixed income trading jobs around, and there are plenty of people chasing them.
It's a completely different state of affairs, however, when you look further afield and peer into the world of 'middle office jobs' like risk, compliance, and change management. Here, there are not enough people to go around. And in some areas, the lack of skills is at a critical level.
The table below shows which areas these are. Based upon the 'hotness' of particular skills as measured by their incidence across the eFinancialCareers site, compared to the number of CVs with these specific skills which have been uploaded to our global CV database in the past three months, it estimates the market penetration of particular skill-sets.
The lower the penetration, the greater the shortage of talent. In the case of "regulatory advisory" specialists, the demand is especially huge and the supply is especially small. If you want a job now, this is where you should be looking.
There are 14 skills on the chart below, each explained beneath it. They're all likely to land you an interview, but the top 10 will do so most swiftly. Here, the market penetration is less than 50%.
Regulatory advisory: Advising on the impact and implementation of new regulations. Either working for banks or consulting firms.
Finance change: Similar to regulatory advisory, but looking at how regulatory and other changes specifically affect banks' finance functions.
FRTB: 'Fundamental Review of the Trading Book' - anyone with expertise in this regulatory initiative.
Regulatory reform: Similar to regulatory advisory roles, but often more related to implementation than advice.
Compliance monitoring: 'Quality assurance' for the compliance function. - Ensuring all rules and compliance procedures are adhered to.
Advisory compliance: Providing high-level consultative-type advice to the front office on revenue maximization within new regulatory parameters.
Hadoop: Open source framework associates with Big Data.
Volcker: U.S. banking regulation who's implementation is due to be finalized this year.
Process change: Organizing the alteration of processes within banks, often to maximize efficiency.
Conduct risk: New 'hot' subset of risk in the UK, as defined by the regulator. Broadly defined, it means risk resulting from the behaviour of individuals working within banks.
Financial crime: All crimes related to financial services. (Banks are needless to say, looking for people skilled at stopping rather than committing them.)
Risk analytics: Using data to better understand the risks involved in a business.
FIG: The ability to work with Financial Institutions Group (FIG) clients.
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