Market Update

 March 2017


Accountancy & Finance  

Financial Services  

·         Permanent recruitment remains soft in Edinburgh but marginal increases in activity in Glasgow

·         Organisations in all sub sectors of FS beginning initial conversations around ‘Brexit Modelling’ and staffing implications of changes

·         Interim requirements for regulatory projects; ring-fencing and IFRS9 continuing to increase  

Commerce and Industry  

·         Vacancies remain strong in all sub sectors up to £50,000 p/a across the central belt

·         Strong demand for financial reporting accountants and individuals with staff management / controller level hires

·         Increasing demand for interim staff at the non-qualified level with initial signs of a shift from permanent  

Public Practice  

·         Continued demand across service lines with particular demand for senior manager level positions

·         Vacancy volumes across the UK consistent with Q3 levels and signs of increases in workloads at mid-tier firms

·         Non-qualified appointments remain buoyant but candidate shortages remain prevalent  


·         Busy season is still effecting the demands for now.  Senior Appointment recruitment remain very specific on certain expertise i.e. expertise in growth, strategy and operation 

·         The demand for Financial Services Auditors remains low in the Channel Islands and Isle of Man 

·         Western Europe Practice Firms continue their growth in Transaction Services as well as IT Advisory professionals with language skills i.e. German and French speakers

·         Far East Consultancy and Finance Firms maintain their desires for quality professionals. There are signs of the market picking up, but the processes in decision making is still a long process

IT, Digital & Change

·         IR35 uncertainty within public sector has meant that a number of contractors who previously were in long term contracts are now active in the market 

·         Businesses leaning towards consultancy and managed service model rather than direct contractors

·         Cyber/Information Security continues to be a busy space.  Some demand for contractors with GDPR (General Data Protection Regulation) experience as the deadline for this gets closer

·         General upturn in contract recruitment across Business Change within Financial Services in Edinburgh

·         A steady increase in Big Data/Data analytics requirements in the Edinburgh market  based on a couple of financial institutions in Edinburgh who are currently recruiting in volume in 2017 for both BAU and new team set up.  Core skills are Hadoop (Hive, Pig) and SAS/SQL/R for a variety of roles ranging from Analyst to Senior Analyst/Management level. All in the permanent space and limited contract roles being released  

Risk & Compliance  

General Market Overview  

·         Emphasis will be on implementing new regulatory frameworks and embedding of risk culture. There has been an increased demand for candidates with asset management experience, especially those with familiarity regarding breaches. Roles which relate to analytics, methodology or governance are commanding attractive salaries.  

Risk professionals in high demand  

•                    Regulatory Risk (extensive FCA exposure)

•                    Credit Risk Modelling

•                    Investment Risk

•                    Technology/ IT Audit

•                    Risk Modelling

•                    Client Money (CASS)

•                    Stress Testing & ICAAP  

Skills/ Experience in Demand  

•                    IT Skills; SAS, SQL, VBA and Matlab

•                    Basel III

•                    CASS

•                    AML System Strategy

•                    Risk Framework Modelling  


·         Healthy mix of junior/entry level roles and senior level roles within Commerce & Industry

·         We have seen a marked slowdown in the contract market at the senior end, however it appears to be more steady at mid-level

·         Market in general seems to be quieter than would have been expected for this time of year

·         Active candidates in the market appear to be outweighing supply of vacancies, therefore clients are able to be quite prescriptive in their requirements in terms of skills, experience and sector exposure  

Supply Chain & Procurement  

·         Steady flow of vacancies across Procurement & Supply Chain

·         As ever the demand continues for highly skilled and professional Demand Planners specifically within FMCG

·         Food and drink manufacturing remains the “preferred industry of choice” for permanent candidates

·         The contractor market remains highly competitive for talent. Scotland’s Financial Services and Banking industry employ a large portion of contract staff within procurement functions, many of whom have been long term contractors (> 6 months) and in many cased up to 2 years      

Construction, Property & Infrastructure  

·         Multiple FM Contracts awarded in Aberdeen meaning permanent employment opportunities are set to rise

·         Building Services market has seen increased activity over the last 4 weeks across Scotland

·         Services and FM still very candidate short markets in the U.K.

·         Risk & Health and Safety will play a big role in the construction market during 2017 as more accidents lead to prosecution

·         Senior appointments becoming busier as clients look to expand


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