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Banking jobs in the UK


Banking jobs in the UK 2012 was a difficult year for financial services recruiting in the UK with no visible increase in overall recruitment activity demand, and continuing pressure to rationalise resources. Unsurprisingly, hiring prospects for 2013 are uncertain. The number of financial services job opportunities in the UK decreased by 25% in the last quarter of 2012 compared to the year before, according to eFinancialCareers, the leading global career site network for professionals working in the investment banking, asset management and securities industries. 2013, however, will by no means be a non-hiring market and pockets of opportunities for finance professionals still exist.

So, is 2013 going to get any better, and can financial services professionals hope for an easier ride? eFinancialCareers gathers the views of HR and recruitment professionals within banks, fund managers and professional services firms on a daily basis and here is a what they expect for 2013 in the UK:

The hiring outlook at the start of 2013 looks a lot like it did at the end of 2012: cautious, slow, but with a few pockets of demand - risk and technology, for instance.
While some companies are still carrying out announced layoffs, further cuts to the workforce are unlikely. However, it is not inconceivable that some companies might decide to exit unprofitable business lines and redundancies would arise as a result.
Hiring priorities for the 2013 will remain virtually unchanged. The ever tightening regulation will mean a demand in governance areas, such as risk management, compliance and audit. Technology demand will remain consistent as firms continue to deal with incorporating new risk frameworks and the impact of legislation on systems.
Dramatic structural changes in the industry and the need to improve internal controls will continue to create opportunity for jobseekers in change management, and candidates able to demonstrate an ability to improve efficiency and reduce costs.
Hiring within other functional areas will be primarily to fill vacated positions, although companies are showing signs to make additional hires to support revenue-generating activities.
"Its been a pretty tough 12 months for the UK financial services recruitment industry. The question now is whether the market is about to turn the corner or whether we are in for an L-shaped recovery, comments James Bennett, Global Managing Director of eFinancialCareers.