Brewer Morris – financial services treasury Q1 recap

Q1 2022 has had a clearly defined focus in terms of areas of treasury recruitment. Liquidity and capital have been the most in-demand skillset with Liquidity Manager roles being a key focus.

Brewer Morris have worked with multiple financial services businesses, predominantly in banking, to hire candidates with exposure to areas such as balance sheet management, ALM, stress testing, ILAAP, ICAAP AND IRRBB. These have been predominantly 2nd line roles focusing on the day-to-day liquidity management of the organization or the risks associated with this. The roles have been at a senior level, looking at manager roles and paying up to £100,000. Early in the quarter these roles initially started at a maximum of £85,000 however due to current market demand (as detailed below) they have had to raise the salary bandings.

Capital has also been in demand but more focused on treasury risk and IRRBB, looking for candidates who can build, critique and adapt the ICAAP model, incorporating knowledge of EvE and EaR alongside then being able to contribute directly to the ICAAP submission and produce MI to relevant business stakeholders. This has mostly been within the small to mid-sized challenger banks who are looking to bring in candidates with broad capital experience in a small team.

A major theme Brewer Morris have also seen is base salary increases and subsequently counter offers from the candidate’s existing firms. Candidates are receiving substantial uplifts (20%– 50%) increases in their base salary either by prospective firms or their existing business to keep them in their role. I received offers for candidates which have netted them significant uplifts at a mid to senior-level i.e., £70,000 – £100,000 as their current base salary. It is not just something that is happening at a junior level now i.e. salaries rising from £30,000 – £50,000.

Speed of process is another key theme, interview processes taking longer than 3 weeks are now at significant risk of a candidate receiving another offer from a faster-moving process. To add to this if the final stage offer process is drawn out, candidates are fast receiving offers from elsewhere or counter offers from their existing firm, purely with the knowledge they have an offer coming. The market is moving at such a fast pace and as the candidates are in such high demand that any delay in process can be detrimental.

To conclude, the market is buoyant and specialist knowledge is key but incredibly valuable and in such a candidate short market it is coming at a very high cost.   
To discuss this recap further or for a broader discussion around how I can help you build your treasury team, please do get in touch. Alternatively, I’d welcome anyone looking to explore new opportunities to reach out so we build a suitable approach.