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.
Zug is the jewel of the Swiss lakes, and along with its extraordinarily high standard of living, it’s a thriving hub for business. As a hotspot for international trade, incredibly competitive wages, a diverse community and a low tax rate, Zug is a popular location for entrepreneurs. The central canton boasts an incredibly fast-growing tech sector, one of the fastest in all of Europe, and with this growth, a huge number of opportunities have begun to emerge.
Zug is populated by many successful brands, including Luxoft, Bossard Group, Roche, and Narvatis, to name just a few. The attractive job market is yet another reason jobseekers find themselves drawn to Zug, and for those looking to recruit top talent, this can make the hiring process even more complex than it needs to be. When candidates have more options, they know they can command higher wages. In Zug, where the wages are already high (the highest salary average in all of Switzerland) companies will need to make sure they get their hiring right the first time.
Here at Broadgate, we pride ourselves on delivering dependable staffing solutions to clients all over the world, and that includes Zug! As people-focussed business protection and business enablement recruitment specialists, it made perfect sense for us to establish a presence in beautiful Zug, so that’s exactly what we’ve done.
We know how important a physical presence is, especially when you’re operating in an exciting and fast-moving market like Zug. Whether you’re looking to source talent for your own jobs in Zug, or you’re wishing to start a fulfilling new career in the heart of Switzerland, the team at Broadgate can help. We’re more than just a recruitment agency in Zug, we have offices in London, Dublin, Manchester, Boston and Los Angeles, and our global reach enables us to pinpoint talent from anywhere.
If you have any questions about our staffing solutions, our people, our diversity-led methodology, our track record, or the business enablement and business protection markets in general, please reach out to the team today, we can work together to make a positive impact on the wider world.