2017 Risk Salary Guide

2017 Risk Salary Guide

Ciara McCabe 01.01.2017

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 Analyst0 - 335k - 45k27k - 37k27k - 37k27k - 37k
3 - 545k - 55k37k - 50k37k - 50k37k - 50k
5+55k - 75k50k - 63k50k - 63k50k - 63k
Operational Risk Manager0 - 365k - 75k50k - 59k50k - 60k50k - 59k
3 - 575k - 85k59k - 72k60k - 70k59k - 72k
5+85k - 100k72k - 90k70k - 90k72k - 90k
Head of Operational Risk0 - 385k - 100k63k - 77k63k - 77k63k - 77k
3 - 5100k - 120k77k - 90k77k - 90k77k - 90k
5+120k - 150k90k - 135k90k - 135k90k - 135k
Credit Risk Analyst0 - 328k - 40k25k - 36k25k - 36k25k - 36k
3 - 540k - 55k36k - 50k36k - 50k36k - 50k
5+55k - 75k50k - 68k50k - 68k50k - 68k
Credit Risk Manager0 - 365k - 75k59k - 68k59k - 68k59k - 68k
3 - 575k - 85k68k - 77k68k - 77k68k - 77k
5+85k - 110k77k - 100k77k - 100k77k - 100k
Head of Credit Risk0 - 390k - 110k80k - 100k80k - 100k80k - 100k
3 - 5110k - 125k100k - 115k100k - 115k100k - 115k
5+125k - 160k115k - 150k115k - 150k115k - 150k
Enterprise Risk Analyst0 - 335k - 45k27k - 37k27k - 37k27k - 37k
3 - 545k - 55k37k - 50k37k - 50k37k - 50k
5+55k - 75k50k - 63k50k - 63k50k - 63k
Enterprise Risk Manager0 - 365k - 75k50k - 59k50k - 59k50k - 59k
3 - 575k - 85k59k - 72k59k - 72k59k - 72k
5+85k - 100k72k - 90k72k - 90k72k - 90k
Head of Enterprise Risk0 - 385k - 100k72k - 86k72k - 86k72k - 86k
3 - 5100k - 120k86k - 110k86k - 110k86k - 110k
5+120k - 150k110k - 135k110k - 135k110k - 135k
Financial Engineer0 - 335k - 55k32k - 50k32k - 50k32k - 50k
3 - 555k - 70k50k - 63k50k - 63k50k - 63k
5+70k - 95k63k - 86k63k - 86k63k - 86k
Market Risk Analyst0 - 330k - 45k27k - 41k27k - 41k27k - 41k
3 - 545k - 55k41k - 50k41k - 50k41k - 50k
5+55k - 75k50k - 68k50k - 68k50k - 68k
Market Risk Manager0 - 365k - 80k59k - 72k59k - 72k59k - 72k
3 - 580k - 95k72k - 85k72k - 85k72k - 85k
5+95k - 120k85k - 110k85k - 110k85k - 110k
Head of Market Risk0 - 3100k - 110k90k - 100k90k - 100k90k - 100k
3 - 5110k - 140k100k - 125k100k - 125k100k - 125k
5+140k - 180k125k - 170k125k - 160k125k - 160k
Risk Advisory - Profesional Services0 - 340k - 45k36k - 40k36k - 40k36k - 40k
3 - 545k - 65k40k - 60k40k - 60k40k - 60k
5+65k - 110k60k - 100k60k - 100k60k - 100k
Business Modeller0 - 330k - 35k25k - 32k25k - 32k25k - 32k
3 - 535k - 50k32k - 45k32k - 45k32k - 45k
5+50k - 80k45k - 72k45k - 72k45k - 72k
Quantitative Risk Analysis0 - 335k - 55k32k - 50k32k - 50k32k - 50k
3 - 555k - 80k50k - 72k50k - 72k50k - 72k
5+80k - 100k72k - 90k72k - 90k72k - 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.

Ciara McCabe's picture
Consultant | Risk and Compliance Recruitment
cmccabe@morganmckinley.ie