Today’s businesses are facing off against a complex risk environment comprised of threats from several unfamiliar areas, including natural catastrophes, climate change, and political violence.
Prudential risk managers are proving invaluable in developing the lines of defence and enablement required to pilot a firm in 2024. Geopolitical tensions look set to rise, and despite a moderate economic growth forecast, the global economy still teeters on the brink of recession.
Firms are well-positioned to thrive in this environment if they can:
Invest in robust risk management capabilities: This includes building a team of experienced prudential risk managers and cultivating a culture of proactive risk identification and mitigation.
Build Operational Resilience: Developing contingency plans and focusing on adaptability is paramount in today’s evolving risk landscape.
Invest in talent: Upskilling and continuous training is the key to navigating candidate shortages, building a sustainable talent pipeline, and implementing new technologies.
Explore strategic partnerships: Collaboration is on the rise (partly thanks to the increasing internationalisation of the financial services space), and firms will need to follow the trend to successfully traverse the interconnected threat landscape.
Facilitate knowledge transfer: A lack of understanding is a critical stumbling block in the current era, with AI integration being a prime example. Many boards lack the technical and regulatory knowledge required to pilot the tech transformation – overcoming this will demand more transparent communication and the facilitation of knowledge transfer.
If you’re hoping to build out a Prudential Risk function for the first time, it’s important to prioritise the right roles:
Chief Prudential Risk Officer (CPRO): Sets the strategic direction for the entire prudential risk management function. Oversees the development and implementation of a robust framework, ensuring regulatory compliance and fostering a proactive risk identification and mitigation culture across the organization.
Prudential Risk Area Managers: Lead specific prudential risk areas, conducting complex risk assessments and managing teams of Risk Analysts. These leaders play a crucial role in upholding the firm's risk tolerance and ensuring effective risk identification, measurement, and mitigation strategies.
Risk Assessment Specialists: Conduct thorough analyses of potential risks, develop and implement prudential risk models and mitigation strategies, and advise senior management on risk-related decisions.
Senior Risk Analysts: Leverage financial and regulatory data to assess potential risks, prepare comprehensive risk reports for senior management, and support Prudential Risk Area Managers in their assessments.
Risk Data Analysts: Provide data-driven support to the broader prudential risk team, conducting research and analysis on emerging risks, and assisting with the development and maintenance of risk management frameworks.
If you need support, reach out to the Broadgate team today, our award-winning recruitment and advisory service is designed to support forward-thinking businesses with inclusive and sustainable staffing solutions.
Luxembourg’s booming finance sector is a world-renowned hotspot for talent, boasting plenty of leading financial institutions. The relatively short supply of skilled finance candidates and strong neighbouring connections make it an enticing destination for global talent.
While demand is high across fund administration, wealth management, and corporate banking, we’re seeing exciting vacancies crop up across the whole spectrum of financial, commercial, and professional services.
Whether that’s in Risk and Compliance or AML, Luxembourg’s firms are seeking adaptable, coachable talent to help them navigate a new era of finance.
With our international reach and community-led recruitment methodology, Broadgate’s Luxembourg division is equipped to connect businesses with top finance candidates with the best opportunities the country has to offer.
If you’re looking for a finance recruiter in Luxembourg, we’re happy to help. Our localised market knowledge, industry expertise, access to diverse talent pools and the gold standard of customer service have us well-positioned to understand and account for the unique needs of the modern firm.
As a recently accredited B Corp, we’re eager to partner with businesses that share our vision of a greener, fairer, and more sustainable working future for the candidates, clients, communities, and colleagues we serve.
Whether you’re hoping to hire or get hired, we have the network, passion, and market knowledge to help. Contact the team today to find out more.