Risk Management

Risk Management

Selby Jennings: A specialist talent partner for risk management

Selby Jennings is a leading specialist talent partner for Financial Sciences & Services. Our global financial technology team provides permanent, contract, and multi-hire recruitment from our offices across three continents.

Following the global financial crisis, risk management has become increasingly important over the last decade to help protect financial markets and prevent firms from experiencing further fines and sanctions. Risk functions have shown significant support for the introduction of innovative technologies, with 95% of employers and 69% of candidates believing data science, artificial intelligence (AI) and the cloud can improve departmental efficiency.

From streamlining processes and upskilling workforces to staying cutting edge by employing flexible work models, we advise enterprise leaders on when to strike and how. We provide expert insight to risk management professionals on benchmarking benefits packages and salaries and assist them through their career moves.

Whether you’re interested in securing the very best risk management talent or you’re a professional looking for risk management jobs, the Selby Jennings’ risk management team delivers exceptional talent to industry-leading clients and candidates.

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Benefits of working with Selby Jennings’ global risk management team

We are a specialist talent partner. Among the many benefits of working with Selby Jennings’ global risk management team are:

Experience

We have nearly 20 years of experience as a leading talent partner in Financial Sciences & Services.

​Network

A vast, global network of the best, in-demand professionals, working with the world’s largest financial institutions to innovative fintech start-ups and beyond.

Knowledge

Our award-winning talent specialists offer bespoke, tailored guidance on the latest hiring trends and industry news to help you achieve your goals.

Risk Management Jobs

Quantitative Analyst (Credit Risk) (m/w/d)

Quantitative Analyst Credit Risk (m/w/d) at a Leading International Financial Institution Are you passionate about developing cutting-edge quantitative models to mitigate credit risk? Explore the chance to join a prestigious International Financial Institution headquartered in Frankfurt as a pivotal member of their Group Credit Risk Management team. Responsibilities: Advanced Model Development: Spearhead the enhancement of quantitative models to measure and predict credit risk, proposing innovative enhancements. Project Support: Contribute to credit risk quantification initiatives, with a focus on strengthening data infrastructure. In-Depth Data Analysis: Collect, process, and analyze extensive datasets, extracting insights crucial for strategic risk mitigation. Regulatory Alignment: Ensure rapid adaptation of models and processes to meet evolving regulatory standards. Continuous Optimization: Collaborate on refining and advancing quantitative methodologies to manage credit risk effectively. Desired Qualifications: Educational Background: Degree in a business-related field with a quantitative focus (e.g., finance, mathematics, statistics). Quantitative Prowess: Strong background and hands-on experience in developing and refining quantitative models for credit risk assessment. Analytical Thinker: Proficient in evaluating diverse approaches to problem-solving, especially in a quantitative context. Statistical Mastery: Practical expertise in empirical methods and statistical software application. Data Handling: Proficient in managing and manipulating large datasets, databases, and data warehouses efficiently. Technical Skills: Proficiency in statistical tools (Stata, R, Python) and a strong grasp of SQL. Language Skills: Excellent verbal and written English. Adaptability: Willingness to travel on short-term assignments and adapt to varied tasks. Learning Drive: Active listening abilities and a keen interest in continual learning in quantitative methodologies. What Awaits You: Innovative Environment: Engage in cutting-edge quantitative model development in an international, collaborative work culture. Empowered Role: Drive and influence critical decisions through your quantitative insights. Prime Location: Situated in the vibrant Bockenheim district of Frankfurt. Perks: Public transport job ticket and more. This role offers an exceptional opportunity for individuals passionate about pushing the boundaries of quantitative analysis in credit risk management. Join this esteemed Financial Institution and drive innovation through advanced model development. Apply now to shape the future of credit risk strategies! ChatGPT can make mistakes. Consider checking important information.

Negotiable
Frankfurt (Oder)
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Investment Risk Analyst

A well-established Asset Manager/Life Insurance Company supports over half a million retirements across the country. With over 25 years at their headquarters, they now manage assets exceeding $57 billion. Recently, their expansion has led to the establishment of a new headquarters in New York. They're currently seeking an Investment Risk Associate to join their team, reporting to the Head of Investment Risk. This role involves overseeing the risk reporting function, analyzing risk exposures, and providing detailed reporting analysis. The primary focus is on improving risk reporting capabilities to bolster business objectives and ensure long-term sustainability. Responsibilities Conducts ad-hoc risk reporting and analysis across a diverse range of areas including risk, liquidity, and capital-related matters. Contributes to the development of strategic initiatives by leveraging analytics platforms and reporting tools. Supports various risk functions such as ALM, Derivatives, Asset Risk, Liquidity Risk, Operational Risk, etc., by addressing quantitative reporting requirements. Establishes robust controls for data, data quality metrics, and governance to ensure the success of new initiatives. Creates data visualizations and reports to assess and track the economic capital position and risk profile. Proactively identifies opportunities to optimize outcomes for risk-related initiatives. Strengthens the risk culture and framework by assisting stakeholders in enhancing effectiveness and efficiency through reporting. Requirements Proficiency in Excel, Python, SQL, or R is required. Knowledge of fixed income is essential. Strong analytical skills, including the ability to research and analyze financial data. Experience working within reporting deadlines and managing multitasking workflows. Preferred background in an asset management or

Negotiable
New York
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Consultant Quantitative Modelling

Title: Consultant Quantitative Modelling Location: Utrecht, Netherlands A boutique risk consultancy firm is seeking a consultant specialising in quantitative risk modelling. Join a diverse and dynamic team of professionals and contribute to projects that bolster a sustainable and resilient financial system. Collaborate with clients and partners to deliver effective and practical solutions. The role: Provide guidance to our clients on a variety of risk quantification topics. Lead and oversee intricate projects in tandem with a team of consultants in the realms of model development and/or validation. Serve as an expert on intricate regulatory requirements and standards. Stay updated on new regulations and their implications for our clients and markets. Establish and nurture strong relationships with our clients. The candidate: Has at least 4 years of risk modelling experience in the financial services sector. Has experience in programming (preferably in Python or R), and Data extraction. Is motivated to enhance the financial industry and innovate wherever possible. Appreciate a work environment that offers ample space and freedom for the development of new ideas. If you are interested in this position, please apply online. We look forward to hearing from you!

Negotiable
Utrecht
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Trading Risk Manager - Gas & Power

Responsibilities: Actively managing the firm's risk exposures through regular meetings, analysis and insights. Improve risk analytics for the whole function through scenario analysis and stress-testing models. Focus on the risk and activities of all Gas and Power Trading PMs as well as overall such risk across the Global Macro Conduct back testing of risk metrics - including VaR and sensitivity/scenario analysis Provide input into the definition of risk policies and procedures working as a commercial partner to support and challenge the business in day-to-day trading as well as long term strategic deals for business. Perform complex quantitative and qualitative analysis for PMs. Developing and advancing stress testing and VaR frameworks. Developing and maintaining a framework for capital allocation to maximize risk-adjusted returns and profitability at the various business levels and at the firm level. Ability to use trading concepts and knowledge of Gas, Power markets to identify the main drivers of change in prices, price relationships and their associated Risks. Tasked with obtaining approval to trade new structured products by collaborating with the internal departments, producing reports outlining the characteristics and underlining the potential risks. Produce standard middle office reports on structured products, including P&L and explanation, limit reports and VaR. To aid in the development and implementation of the automated and infrastructure projects for the use risk managing and strategy formulation. Lead research efforts to develop innovative risk management approaches, tools and analytics by leveraging the collective knowledge of the platform to improve returns. Qualifications: A degree in Quantitative Finance, Mathematics, Physics, or other science disciplines. 5+ years' experience as a Risk Manager or a Portfolio related to US and European Gas & Power Markets Analytical rigor in terms of pricing models, risk sensitivities and the best practice for risk aggregation in a portfolio context Strong knowledge of Physical and Financial assets for Gas & Power Strong technical ability using Python for coding, modelling and implementation purposes. Ability to understand and apply risk management concepts, including stress-testing, value-at-risk, liquidity adjusted VaR and scenario analysis. Previous experience working in a Trading house, Hedge Fund or Investment Bank on a commodities desk. Strong understanding of options, mathematics and how they are priced

Negotiable
City of London
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VP Front Office Liquidity/Funding

An International Investment Bank is hiring a Vice President to join the Front Office Liquidity/Funding team in New York. This individual will serve as the key point of contact in the front office for Securities Financing, Cash and Synthetic Prime Brokerage, Repo, and Collateral Treasury business heads. This role is essential to daily operations, assisting the broker dealer side of the business to maximize trading potential and minimize liquidity risks. This individual will be empowered to work directly with Repo and Collateral Treasury desks and execute transactions when additional liquidity is required. The ideal candidate needs to think and act quickly in a front office environment in order to optimize cash on hand and fund complex trades across multiple desks. With this hire, the bank is looking to increase front office performance across the board, so the ideal candidate needs to build and maintain several key relationships with senior stakeholders. Qualifications: 5+ years of experience in trading, structuring, risk management, funding, liquidity, markets treasury or ALM role Strong understanding of financial markets and impacts of intraday market moves Excellent quantitative and analytical skillset Experience building relationships with multiple traders, desk heads, and other senior management Familiarity with RWA/capital requirements and regulations

Negotiable
New York
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Sr. Risk Manager - Hedge Fund

A leading Quantitative Chinese based Hedge Fund is looking to make their first Risk hire in New York City. This fund relies on experienced Quants and Electronic Trading to gain an edge in the markets. The ideal candidate must have a background in Equities, Options, and or Global Macro products paired with an interest in problem solving and taking on new challenges. Being the first hire Risk hire in the US, this individual will play a pivotal role in shaping the US Risk Framework, and will serve as a focal point to the business as they grow their operations in the US. Ideal hires will have 5+ YOE at an Investment Bank or Hedge Fund in a Risk Management function, and an in depth knowledge of Equities, EQ/IR/FX Options, and other Macro products. It is preferred that candidates have a higher level education in Math, Quantitative Finance, Physics, Statistics, or another Quantitative function. Responsibilities: Enhance Risk Framework for Firm's Strategies in US Equities and Options Markets Enhance in house risk models to be used by PMs and explain risk metrics such as VaR and Risk Not-in VaR Engage with PM's to optimize investment strategy and portfolio construction Design innovative stress testing scenarios from scratch Partner closely with Quants to assist on Risk Research and Opportunities in US Markets Explain the drivers of performance to senior management and PMs Qualifications: 5+ YOE as a Risk Manager or Quant Risk Manager at an Investment Bank, Hedge Fund, or Prop Trading Firm Expert level knowledge in US Equities, EQ/IR/FX Options, Global Macro Working ability in Python, SQL, or other language Must be able to speak Mandarin

US$200000 - US$400000 per year
New York
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VP Internal Audit, Firmwide ERM

VP, Internal Audit - Enterprise Risk Management Location: NYC Compensation: 170-225k base I am currently working with a Top American Investment Bank that is looking to add an VP to their Enterprise Risk Management Internal Audit group which will sit out of their New York City office. Ideal candidates have 8-10 years of experience within Internal Audit and are familiar working with firmwide governance, operational and enterprise risk, and controls principles. In this role, you will manage a team that will be responsible for the planning and execution of audit testing to help support and improve the firm's ERM and controls framework. Responsibilities: Manage audit engagements related to ERM, governance and controls, oversight structures and business risks Review the results of risk assessments and ensure that they are compliant with regulatory requirements Communicate audit findings with senior management and develop plans to mitigate and prevent risks Requirements: 10+ years in Internal Audit, Risk Management, or another control related function Experience monitoring firmwide transformation projects Experience managing a team and overseeing audit processes Strong written and verbal communication skills Bachelor's degree in finance, accounting, or another related field

US$170000 - US$225000 per year
New York
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VP Credit Risk Analyst

I am currently working with a well know trading platform that is building out a new centralized Credit Risk team. This is an exciting role that sits within the front office and consists of analyzing balance sheets, cash flow statements and trade agreements. The ideal candidate would be responsible for giving clients and partners ratings, spotting trends as well as using data to analyst the markets, the clients and portfolio investments. This team sits on the trading desk and works with the due diligence and trading teams. Knowledge in venture capital, derivatives trading and cryptocurrency. This a growth oriented role with the ability to move upwards quickly. This candidate will likely have 5-7 years of experience from a brokerage firm or bank with a CFA and has quantitative skills with SQL or Python. If you're looking for an opportunity that allows you to drive the business's decisions, works closely with traders, and has direct communication with senior stakeholders, this is for you! BONUSES ARE BEING PAID! RELOCATION ASSISTANCE IS PROVIDED!

US$170000 - US$210000 per year
United States of America
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Sr/Lead Model Risk Analyst

Some specific responsibilities include: Model Validation: Lead comprehensive validations of financial models, including credit risk, valuation, mortgage prepayment, and ALM models. Conduct quantitative analyses, evaluate model theory, perform backtesting, benchmarking, stress testing, and assess model controls. Validation Reporting: Generate detailed validation reports outlining the approach, conducted analyses, and conclusions. Present findings and recommendations to model owners and stakeholders. Model Development: Take a leading role in developing benchmarking models and data analytics, including machine learning models for validation, continuous monitoring of model performance, and effective risk management. Risk Reviews: Conduct both annual and ad-hoc risk reviews and quarterly assessments of financial models within the bank's inventory. Expert Advisory: Offer expert insights into modeling and model validation challenges and provide actionable recommendations to model owners and users.

US$104000 - US$130000 per year
United States of America
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Sr. Model Risk Analyst

Role Overview: They are currently seeking a Compliance Model Validation Specialist to join the Risk Management Department within the Americas Division of our client. In this role, you will lead the validation of Compliance models and fraud detection models for our client's U.S. operations. Your responsibilities will encompass assessing model design, input data quality, model performance, ongoing monitoring, and more. We require someone with expertise in AML, fraud analytics, data analytics, model tuning, data segmentation techniques, and machine learning. Strong teamwork and problem-solving abilities are highly valued. Role Objectives: The main objectives of this role include conducting comprehensive validations and reviews of Financial Crime Compliance models. You will be responsible for identifying any model deficiencies and providing practical recommendations. Additionally, you will be tasked with developing and maintaining documentation templates, testing packages, and tools to streamline the validation process. This role will also involve supporting audits and examinations related to compliance and fraud risk models. Staying current with compliance and fraud regulations and industry best practices is essential. Qualifications and Skills: We are looking for candidates with a Master's or equivalent degree in Statistics, Mathematics, Engineering, Computer Science, or related fields. Ideal candidates should have at least 2 years of experience in model validation, model development, risk analytics, or a similar field. Proficiency in Python and SQL programming is required. A solid understanding of the financial industry and its various business lines is essential. The successful candidate will possess strong reasoning skills, analytical capabilities, and effective communication skills. Previous experience in compliance analytics, compliance/fraud model validations, or related areas within financial institutions or consultancies is a plus. Familiarity with Oracle Database, Actimize SAM, and Fircosoft is advantageous.

US$160000 - US$170001 per year
United States of America
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Senior Model Validation Specialist

Role Overview: They are currently seeking a Compliance Model Validation Specialist to join the Risk Management Department within the Americas Division of our client. In this role, you will lead the validation of Compliance models and fraud detection models for our client's U.S. operations. Your responsibilities will encompass assessing model design, input data quality, model performance, ongoing monitoring, and more. We require someone with expertise in AML, fraud analytics, data analytics, model tuning, data segmentation techniques, and machine learning. Strong teamwork and problem-solving abilities are highly valued. Role Objectives: The main objectives of this role include conducting comprehensive validations and reviews of Financial Crime Compliance models. You will be responsible for identifying any model deficiencies and providing practical recommendations. Additionally, you will be tasked with developing and maintaining documentation templates, testing packages, and tools to streamline the validation process. This role will also involve supporting audits and examinations related to compliance and fraud risk models. Staying current with compliance and fraud regulations and industry best practices is essential. Qualifications and Skills: We are looking for candidates with a Master's or equivalent degree in Statistics, Mathematics, Engineering, Computer Science, or related fields. Ideal candidates should have at least 2 years of experience in model validation, model development, risk analytics, or a similar field. Proficiency in Python and SQL programming is required. A solid understanding of the financial industry and its various business lines is essential. The successful candidate will possess strong reasoning skills, analytical capabilities, and effective communication skills. Previous experience in compliance analytics, compliance/fraud model validations, or related areas within financial institutions or consultancies is a plus. Familiarity with Oracle Database, Actimize SAM, and Fircosoft is advantageous.

US$130000 - US$150000 per year
United States of America
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Market Risk Analyst

My client is an energy and commodities propriety trading firms with locations across the US. As a company they specialize in a few different areas across commodities trading, asset management, renewable energy, infrastructure, and environmental markets. They operate essentially like a commodities hedge fund, and are looking to bring on a Junior analyst within their trading operations in NYC. We are working directly with their Director of Market and Liquidity Risk in NYC. They are looking for a candidate with strong experience working around large data sets, great technical skills particularly with Python and SQL. Financial products knowledge in options, forwards, and futures is preferred. This hire will work directly with the trading team in a fully integrated risk/trading collaborative environment. Requirements include: Experience working across large data sets Python, SQL Math Finance, Financial Engineering, Data Science degree preferred Energy/commodities knowledge preferred, with fixed income/rates knowledge as well 0-3 years experience, great opportunity for a recently graduated masters candidate or a junior analyst at a financial services firm with direct experience working hands on technically with Python/SQL Knowledge of recursion factors in Python

US$90000 - US$150000 per year
New York
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Risk Management News & Insights

Embracing Disabled Talent: Driving Success Through Inclusive Hiring in Europe Image
risk-management

Embracing Disabled Talent: Driving Success Through Inclusive Hiring in Europe

In today's evolving business landscape, recognizing and embracing diversity and inclusion is crucial. Despite progress, the potential of disabled talent remains largely underappreciated in Europe. Recent findings from our Selby Jennings poll shed light on the current state of affairs, with 55% of respondents admitting their hiring strategies lack provisions for candidates with disabilities. However, it is encouraging to note that 72% of workplaces have policies and practices in place to support employees with disabilities.The Missed OpportunityLack of Provisions and Representation: The finding that 55% of organizations do not have provisions for candidates with disabilities in their hiring strategies is a wake-up call. It indicates a significant missed opportunity to engage with a pool of talented individuals. Furthermore, the survey reveals that disabled individuals are particularly underrepresented in the banking and financial sector, with 78% of respondents recognizing the need for better representation. This highlights the need for a paradigm shift in how organizations approach hiring and inclusion.Policies, Practices, and Managerial Support: On a positive note, 72% of workplaces have implemented policies and practices to support employees with disabilities. This demonstrates an increasing commitment to inclusivity. Additionally, 73% of respondents believe their managers are equipped to manage employees with disabilities, indicating progress in fostering an inclusive work environment. However, it is important to ensure ongoing training and support for managers to effectively accommodate and empower their disabled team members.The Benefits of Complete InclusivityEmbracing complete inclusivity offers numerous advantages for businesses. First and foremost, it fosters a culture of equality, respect, and diversity. By hiring disabled talent, organizations can ensure they have a vast pool of skills, perspectives, and problem-solving abilities. This diversity drives innovation, creativity, and productivity, leading to better outcomes and a competitive edge. Moreover, a truly inclusive workplace enhances employee morale, engagement, and retention, as team members feel valued and supported.Embracing Disabled Talent - The Path to SuccessEmploying disabled banking and finance professionals can be a game-changer. Their unique insights, adaptability, and resilience brings fresh perspectives to financial institutions. By leveraging their talents, organizations can drive innovation, enhance customer service, and make informed decisions that cater to a broader demographic. Embracing this is a strategic move that positions businesses for long-term success.Taking Action - The Call for Inclusive HiringHiring disabled talent in Europe is not only essential for business success, but also for creating a more inclusive society. Embracing complete inclusivity brings diverse perspectives, encourages innovation, and engages the workforce. With the potential to access over 2 million candidates worldwide, Selby Jennings provides a unique opportunity to engage with talent from various backgrounds, including disabled professionals. By partnering with Selby Jennings, organizations in Europe can expand their reach, access a diverse pool of skilled candidates, and further enhance their inclusivity efforts. Request a call back today and together, we can build a prosperous future that celebrates the contributions of all individuals.

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2023 Bonus Season Breakdown Image
insurance-and-actuarial

2023 Bonus Season Breakdown

Discover the latest analysis of bonuses and rewards in the Financial Sciences & Services industry, and how it impacts the talent market.Understanding bonus structure has become not only a critical aspect to businesses in attracting and retaining top talent, but also for professionals in knowing their true value.Analysing the rewards arrangement across the Finance and Banking industry, we surveyed over 2,000 professionals based in Europe to discover:What value their bonuses are Whether they are satisfied with their bonusKey drivers behind their bonus pay-outsPerformance metrics used to determine bonuses Offering valuable insights to both professionals looking to benchmark themselves, and for businesses reflecting on their compensation strategies, both parties can take away a number of key considerations from this exclusive report. ​Download your copy of the 'Bonus Season Breakdown' report by completing the form below:​

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How to Make the Perfect Job Offer Image
private-wealth-management

How to Make the Perfect Job Offer

​Finding the perfect candidate for your latest role can be a long and arduous road. Once you have found the employee with the skills you need and an attitude which will fit perfectly within your team, it is time to make your job offer. In a perfect world, you will get an enthusiastic acceptance. However, if you are hiring in a busy sector, or trying it, is likely you may have to negotiate salary and other benefits before you can seal the deal.Competition for talent is fierce. The pressure is on for hiring managers to secure the right candidate by offering an attractive compensation package before they accept an offer from a competitor. The aim of a salary negotiation is not to find a compromise where both parties are dissatisfied but find a balance where you both come out feeling valued, and enthusiastic about moving forward. Negotiating salary can be a tricky business that requires a high level of strategy.​Set your limits before you advertise the jobSalary negotiations can be complicated - planning will give you an obvious advantage. Before you even start interviewing your candidates, you need to choose the right salary to advertise, including the upper limit to where you are willing to negotiate for an exceptional candidate.Your lowest salary offer should still be in line with industry standards, with your upper limit reserved for excellent candidates who will offer extra value to the role. Don’t include your upper salary limit in any of your job advertising or recruitment efforts. There are several elements to consider when deciding on monetary compensation, including:The seniority of the position on offer– how many people will they be managing? Will they be heading up important projects?The current labor market– will this be a difficult or easy position to fill?The current performance of your company– how much can you afford to pay a new candidate?The skills required for the job – are they rare? Do you need a specific combination of hard and soft skills?The salaries of others in the company– is the upper limit offered still within the bracket you have set for others at this level?Your location– are you based in an expensive city or area where more compensation is needed to make up for elevated living costs?The best way to avoid negotiation is to ensure your initial offer is attractive and fair compared to benchmarks within your industry. Use online tools such as PayScale and Glassdoor to look at salary benchmarks for similar roles within your sector. Remember that it is likely your candidate will also be using these tools to make their own comparisons.It is also vital to keep within existing pay levels within your company. Going above these may help you secure a candidate but can lead to issues further down the line where other team members may feel undervalued and demoralized.Find out your candidate’s current salaryThe candidate you are interviewing is under no obligation to tell you their current salary, but there is no harm in asking politely. This information is important when it comes to negotiating a salary. If their current salary is higher than your upper negotiating position, then it is time to question if they are the right candidate for you. This is best done early in the interviewing process. You can ask a candidate their desired salary in the interview to prepare for later negotiations and speed up the process. This allows you to root out candidates who are holding unrealistic salary expectations.Make a fair initial offerIf you want to avoid a lengthy negotiation period, make sure your initial salary offer is a fair one. Though it is not an official rule, it is a given that most professionals will be expecting at least a 20% pay rise when seeking a new position, particularly with the cost of living increasing. However attractive the position is and however great the benefits your company provides are, salary is still the main motivating factor for taking a role - you need to offer a fair package to a skilled candidate which remains within your company guidelines. Your offer needs to be a fair reflection of the candidate’s experience and skills.Lowballing your candidate in anticipation of a counteroffer will only lead to your candidate regarding your company with suspicion, and you may gain a reputation as a timewaster. Salary negotiations should not be treated the same way as trying to sell a used car. Consider the long-term impact of the hire during your negotiations. Making a fair offer will help bring more value to your company in the long run through the work of an employee who knows that they are respected and valued.Conversely, offering a very high number to your candidate can come across as desperate and make your candidate second guess their decision to take up the offer. Your candidate will be aware of the value of their current skill-set, and a high overvaluation can lead to further suspicion and hesitation from the employee. Finally, ensure your initial offer is lower than your upper range, which should have been decided before the job was advertised, to leave room for negotiation.Highlight benefits beyond salaryIf you are aware of competitors in your market who can provide bigger salary packages than you, consider the benefits of working for your company beyond the wage. Depending on your candidate, some of these benefits can be very attractive in helping improve the employee’s quality of life. If you are unable to completely match a salary request during a negotiation, there are other benefits you can offer that may entice a new employee to join. These could include:Additional or unlimited annual leave– a generous holiday offer, including the recent trend amongst start-ups to provide unlimited leave, shows a level of trust and value.Flexible working– Allowing employees to work from home one day a week or schedule their work around their lives using a flexi-time structure is particularly attractive to those with children.Professional development– If there are opportunities for the candidate to take on additional training, learn new skills or start a new progressive career track, there is more long-term value in taking the role offered.A positive company culture– If the candidate is coming from a toxic or high-pressured atmosphere where they experienced burn-out, it may be an important and attractive prospect to work in an office with a supportive and positive atmosphere. Statistics such as staff retention rates and testimonials from other employees can help support the representation of your culture.Perks- such as free gym membership, funding for travel into work, subsidized lunches, attractive office facilities, and social opportunities.These can all be compelling reasons for your ideal candidate to choose your role, even if the salary isn’t what they expected. These benefits can help employees save money, cut down on stress, and enjoy their role. This provides compensation which focuses on quality of life - which can be very appealing during negotiations.Offer alternative monetary benefitsIf you are facing troubles in salary negotiations and it looks like you may lose the candidate who will bring the most value to your company, it is worth considering offering additional monetary benefits. These can include:Performance-related bonuses– agree to pay a bonus if certain targets and milestones are hit.Commission– some roles can benefit from a commission rewards system, where the employee is compensated for business and leads generated for your company.A signing bonus– a one-off signing bonus rather than a higher salary bracket is often a great way of satisfying both parties. It shows enthusiasm for wanting to onboard the candidate quickly while saving your company on payroll in the long term.A later salary negotiation– if you are unsure about offering a higher salary bracket now, you can promise another negotiation over salary after a probation period, on completion of a training course or if a performance target is hit. It is vital that you do follow up on this promise, as you do not want to lose the trust of your new staff member.Shares or profit-sharing– get your candidate invested in the success of your company by offering shares as part of the job offer.The importance of feedbackProvide succinct feedbackYour feedback is the most important part of your communication with a rejected applicant. Good interview feedback needs to be succinct, considerate and honest. It is often the case that there was nothing particularly wrong with the candidate, but there just happened to be another candidate with more relevant experience or stronger skills. Stating this to a candidate should not offend their feelings—it’s the reality of job hunting in a busy and high-quality labour market. You don’t want to provide a lengthy critique which kicks your applicant when they’re down, but providing constructive and specific feedback will also be useful for your candidate.Request and value feedbackAnother way to show respect to a candidate and gain a brand advocate is to ask for feedback on your interviewing and hiring process. You have given your honest and succinct feedback, respect that hiring is a two-way street and request some feedback on their experience. You can do this either in your phone and email correspondence, or set up a feedback survey to collect data from several rejected candidates. Requesting feedback shows you value and trust the opinions and viewpoints of the candidate, alongside providing you as a hiring manager with useful insights on how you can further optimize and structure your recruitment and candidate search process.Be honest about future opportunitiesIn some cases, you may be rejecting a candidate you have a genuine interest in hiring in the future. Maybe they weren’t quite the right fit for the current role, but they may slot into your future growth plans. If this is the case, tell them. However, do not finish a job rejection on a false promise if you know you have no interest in hiring the candidate now or in the future. Only invite a candidate to apply for future roles if you think they would be a good cultural fit in your company in the future. Inform them if their details will be kept on file within your company for future positions.Gaining a brand advocate in a rejected candidateEnding a job rejection on a positive note is no mean feat, but it is the first step in nurturing and maintaining a good relationship with the candidate and gaining a brand advocate. You want to keep qualified candidates of exceptional quality active within your talent pool, and maintaining positive communication with a rejected candidate may save you on hiring times and costs at a future date. Stay in touch with rejected candidates, either via email or professional social media such as LinkedIn. Follow up on their progress, and congratulate them when you spot they have landed a new job.You can keep up communication through inviting rejected candidates to events or seminars hosted by your company, a networking opportunity for both you and your candidate. You can also ask to add the candidate to your email newsletter database, or suggest they follow your company on social media so they can stay informed on hiring and growth. Treat candidates as you would like to be treated. Keeping up positive, timely, succinct and direct communication will gain you a brand advocate and a new addition to your passive talent pool.These guidelines can help to negotiate and extend the perfect job offer that's impossible to refuse. Once the offer is made, this isn't the end of the process -the ball still remains in the candidate's court. As a talent specialist with a well-garnered candidate portfolio, we are a one-stop solution for all your talent needs. Contact us today and we can help in the job offer process.​View and download your free printable version below​

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How to Decide if a Job Offer is Worth Taking Image
risk-management

How to Decide if a Job Offer is Worth Taking

​Landing a job offer is a great achievement and it can be tempting to grab it with both hands, particularly if you’ve been focused on the interview process for some time. Yes, crafting CVs and cover letters, researching companies and positions, preparing presentations, and attending interviews are all time and energy consuming parts of the process, especially for senior-executive level roles, but there are important considerations to be made before you make a concrete decision on one offer.You spend the majority of your day at work, and even outside of your time on the clock, your job will inevitably have an impact on your personal life, too, and even that of your family. For example, the length of your commute, the number of holiday days, and the flexibility the role offers will all affect your quality of life, and so it’s imperative that you accept a job offer for all the right reasons. Even your dream job role will have positives and negatives, and it is worth taking some time to consider the offer and what it means for your finances, your work-life balance, and your future. In this guide, we’ll walk you through the questions you should ask to help you decide if a job offer is worth taking, and how to decide whether to accept, reject or negotiate the role offered. If you are in the fortunate position of being able to consider several offers, this article can also help you with making your choice on which offer to accept. Am I happy with the salary offered?One of the headline aspects of a job offer to be considered is the salary on the table. Depending on where you are with your career, the salary should reflect your skill set and general value within the current labor market, and should ideally be at least 10% above your current salary package, otherwise the move may not be worth it. Use websites such as Glassdoor to research equivalent salaries and make sure you’re getting offered the right amount. Obviously, there is so much more to consider when thinking about a job, but if the salary is lower than you expected, you may want to consider negotiations. If the base salary is lower than you would like, your overall salary may be boosted with bonuses and/or commission, or you may be offered a salary package with perks such as subsidized health care or childcare. This is an opportunity to work out a package that suits you as an individual.The role may offer you a salary that is initially disappointing but puts you on a guaranteed and exciting career track with a larger reward in the near future. Also consider the satisfaction of the job if you are offered a big step-up in pay. What demands will this new role put on you? While an impressive new wage can be attractive, it may weigh lightly against the additional stress and pressure that comes from an increase in responsibility. It’s good to be challenged from a new role, but not at the expense of your long-term happiness, so it’s important to find the balance between financial compensation and quality of life.What are the benefits?Alongside the salary, look at the break down of benefits and perks offered by the new position. If these aren’t outlined fully in your job offer, request the full details from the hiring manager. Some companies offer bumper benefits packages, which can be considered as valuable as your initial salary package. Look at the following benefits when evaluating a job offer: Annual leave - is there a generous allowance for paid time away from the office? Does the role have a good pension? What is the employer contribution to your pension? How good is the health insurance provided by the company? What does it cover, specifically? Does the role provide large money-saving perks, such as a company car, subsidized childcare, or paid memberships?How will the role affect my work/life balance?Work/life balance is extremely important not only to your happiness, but also to your health, relationships, and even your success within your role. Consider the responsibilities of the role - are the day-to-day tasks stimulating and satisfying to you? Do they encompass the positive aspects of your previous role where you experienced success and growth? Will they challenge you to develop new skills/areas of expertise or are the tasks simply outside of your expertise or interests? Think of how the job will slot into your life, and how much control you will have over your work/life balance within the role. A large element to consider is whether the role offers flexible working, which may be particularly important if you have children. A role that allows employees to build their hours around their family obligations and provides regular opportunities to work from home can be far more appealing than a role that pays more but provides no flexibility. The commute also needs to be considered when evaluating a role for work/life balance. Is the role in a hard-to-reach location? Will you be dealing with daily traffic jams? Is the role reachable by public transport? How much will the commute cost in train tickets or petrol and parking? A job that requires a lot of travel can be exciting but can have a negative impact on your work/life balance as it can be tiring, costly, and time-consuming. If a lot of the role is spent ‘on the road’, you will need to consider how this will affect your quality of life long-term.Am I a good cultural fit?Hopefully, during your application and interview process, you will have had a taste of the company culture at your potential new organization. Review the business’s employer branding materials, their social media accounts, and testimonials on sites such as Glassdoor for more information. Your work environment is one of the most important factors to consider when deciding whether to accept a job offer. You will be spending around 40 hours a week there, so think carefully about whether that prospect makes you excited or anxious. Regardless of the job title, salary, or perks, accepting a job offer from a company where you will be glad to spend your time is what’s most important to your health and happiness.Lean into your intuition and consider any potential red flags you may have identified. In some instances, it may be appropriate to request another visit to the office to talk to team members before saying ‘yes’ to the offer, or you may request another more informal chat with your manager to ask any lingering cultural questions. This may help you to get a good sense of the types of personalities within the company, and find out how the office operates and where you would fit in. Are teams encouraged to work collaboratively, or do they tend to work as individuals? Is there good camaraderie within the team? How do they support each other? Ask for examples to get the best understanding. Can I work well with my peers?The people you work with, and indeed those you report to, can make or break a role. It is vital to your overall enjoyment of your job that you are working with people who bring out the best in you, as well as a team that will be receptive to your attempts to bring something new and beneficial to the company.When considering a job offer, try to find out who you will be reporting to and who will be reporting to you. It is likely that the former will have been involved in the hiring process, but if you haven’t met them, you may want to arrange a meeting or a phone call to discover more about their leadership style while you consider a job offer. Ask what would be expected of you in terms of delivery and performance and run through a typical week within your team. If the ideas and working style of those around and above you don’t run alongside your own you may want to reconsider taking the job offer and keep on looking.Does it advance my career?You’re already on the job hunt, so your career progression will naturally be on your mind at this point. You may have an offer for a role that advances your career immediately, but the move could be a bad decision in the long term. Does the current job offer allow for further growth of your skills and talents? Or are you moving into a position that may lack the challenge you need in order to develop? It’s a good idea to investigate the training and networking opportunities provided by the role. Do you have time in your role to learn new skills, or attend sector conferences that will keep you informed of trends in the market? Does the business have a budget reserved for career development and further education of its employees? LinkedIn is a good website to research this. You can look into the career paths of current and former employees and see how those within the company have progressed either internally or through new roles. You may want to reconsider a job offer for a role where there is little progression or growth, or from a company that has no immediate growth plans, or any career development programs. On the other hand, you may wish to include this in your negotiation process.Am I happy I got the job?Now you have considered the salary, the benefits, your work/life balance, the culture, your colleagues, and your career development goals, the final element to consider is your general ‘gut feeling’ when it comes to considering the job offer. Are you ecstatic to get the offer, or do you have your reservations? If you are reading this, there’s probably a reason you are taking your time to make a decision. Of course, there may be more personal factors at play that may incentivize you to accept a role quickly, but it is worth taking your time to consider how the prospect of starting this new position truly makes you feel. No job offer will be perfect, but it is important to trust your gut when an offer comes through, even if it just sparks some more honest negotiations. If you are unhappy with the lack of flexibility within the role or have doubts about opportunities for development, it may be better in the long-term to turn down the offer. Trust your instinct and intuition. If something is telling you taking the role is a bad idea, write up a list of pros and cons and weigh them up. Moving jobs is a big decision that affects many aspects of your life and steers your future. A bad gut feeling may be leading you to something better suited.

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