OperationsMarketUpdate2016

THE OUTLOOK

FOR 2016

Operations

Financial Sector Employees | The outlook for 2016

Operations

The operations market has remained buoyant throughout quarter two and three. Historically these are one of the

busiest recruitment quarters in operations and that trend has been evident this year

One of the key metrics, external job flow, has increased month on month in Q2 and Q3 with June and July

especially seeing a peak as the half year closes.

In terms of specific areas that have been busy;

There has been increased activity in Middle office business areas – with a number of organisations increasing

headcount in trade support teams. London businesses have been quite lean and with the production element of

the roles being off-shored, role profiles have become more analytical.

These hires have therefore been quite targeted either from a product specialism (e.g exotics) or level (e.g

associate / VP) perspective. It is a positive sign to see these teams increasing their headcount this year

We have also seen a continual demand for regulatory specialists – the majority of external vacancies this year

have come about by regulatory requirements – i.e either hiring a regulatory specialist or back-filling a BAU person

The target audience in the regulatory space remains strong business analysts or project managers and trending

toward OTC at ETD clearing. Hiring had tended to be senior (VP level up) where organisations can get someone to

work effectively with BAU and project / technology teams

There has been a continuous requirement for candidates who have a good understanding of both Dodd Frank and

EMIR Regulations

And finally, in terms of investment banking there has been a continual requirement for operation risk and controls

candidates – those candidates are hired to look at data quality, process, KRIs and controls. These people will tend

to work closely with both operations, audit, compliance and on-boarding team.

There has been significant activity in operations and support function of buy-side firms. Tends to be due to three

main areas - better market conditions and general sentiment for 2016 alongside opportunity to grow their fund and

diversify their portfolios.

The target candidate population tends to be at the analyst and associate level – organisations building up

operational support teams covering client service, trade support and back office duties.

A number of candidate in the market have expressed interest in moving to buy side companies, to gain an

opportunity of a broader skill set.

We expect the Operations market in London to remain busy for the rest of the year. We will generally see a tail off

towards the end of Q4 but it lines up well with the candidate market as people often remain in their jobs to see out

he new year and 2016 bonus awards

Regulatory influenced roles will take preference when clients hire, supported by increased headcount in control

functions. We are confident we will see continued hiring in Client on boarding, OTC Clearing, trade support and

regulations.

In terms of candidates it is still a candidate short market – those with specialist skills are high in demand and are

usually involved in a number of processes.

As a result of this we would expect salaries to be effected in 2016 – in previous year trends a 5-10% increase in

key areas is standard

With in the Interim side of the Operations market, there has been a mirrored increase in Regulatory Reporting

roles. Usually these contract requirements sit with banks that have to ensure that they have embedded

necessary regulations deep in their reporting frameworks and in line with deadlines. There has been an increase

in the requirement for those with SME knowledge of EMIR, DODD FRANK, AIFMD, MIFID and FATCA.

Additionally Contract hire in Operations has been mainly seen in Client facing roles, rather than more traditional

back office functions like Settlements, Reconciliations and Drafting, which had moved offshore over past new

years.

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Operations (cont/d)

4

2

Trade support

Role Salary (£) 2015pay rise

(%’age)

2015 bonus

(%'age)

Analyst/associate 45,000-55’000 0-5 0-10

Assistant vice president 55,000-75,000 0-5 0-10

Vice president 75,000-110,000 0-10 0-20

Director/executive director 110,0000 0-10 0-20

Settlements


(%’age)

2015 bonus

(%'age)

Analyst/associate 30,000-50,000 0-5 0-10


Vice president 70,000-90,000 0-10 0-20

Director/executive director 90,0000+ 0-10 0-20

Operations control


(%’age)

2015 bonus

(%'age)

Analyst/associate 45,000-55’000 0-2 0-10


Vice president 75,000-100,00 0-10 0-20


Asset servicing


(%’age)

2015 bonus

(%'age)



Vice president 70,000-90,000 0-10 0-20


Collateral/stock lending


(%’age)

2015 bonus

(%'age)



Vice president 70,000-90,000 0-10 0-20


Performance analysis fund operations


(%’age)

2015 bonus

(%'age)

Analyst 40,000-55,000 0-5 0-20

Associate 55,000-60,000 0-5 10-30

Manager 60,000-75,000 0-10 10-40

Senior manager 75,000+ 0-10 20-50


Operations (cont/d)

4

3

For more information please contact Michael Lewis :

t: 020 76451445

e: [email protected]

For more information please contact Ian Christie:

t: 020 76451449


For more information please contact Kirsty Wilson:

t: 020 7645 1448


w: www.michaelpage.co.uk/bankingandfinancialservices

Loans administration/trade finance


(%’age)

2015 bonus

(%'age)



Vice president 60,000,90,000 0-10 0-20


Operations – temporary

Role Low (£) Med (£) High (£)

Trade finance/lending 150 200 250

Confirmations 175 200 250

Settlements clerk 150 200 250

Trade and sales support 150 250 350

Prime brokerage operations 150 250 350

Stock lending/collateral 175 225 300

Client services 175 200 250

Asset servicing 175 250 300

Futures/OTC clearing 175 250 350

Commodity operations 175 220 300

Regulatory operations 250 350 450

Fund admin/accounting 200 250 300

Performance analysis 200 250 300

ISDA documentation/drafting 250 350 450

Operations projects – temporary


(%’age)

2015 bonus

(%'age)

Data/MI analyst 200 300 400

PMO 250 350 450

Business analyst 350 450 450

Project manager 500 600 700

Programme manager 700 900 1100

OperationsMarketUpdate2016

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