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 risk management 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 youโ€™re interested in securing the very best risk management talent or youโ€™re a professional looking for risk management jobs, the Selby Jenningsโ€™ risk management team delivers exceptional talent to industry-leading clients and candidates.

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Benefits of working with Selby Jenningsโ€™ global risk management team

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

Experience

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

โ€‹Network

A vast, global network of the best, in-demand professionals, working with the worldโ€™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

Underwriter - Church UW

What We're Looking For Minimum of 2 years progressive underwriting experience within the commercial P&C insurance industry; or, a minimum of 3 years progressive customer service and/or agency management experience within the insurance industry Prior experience and knowledge of the risks and exposures of religious organizations desired Must have and maintain or attain within three (3) months and maintain a current property-casualty license. Proven underwriting and/or agency management skills Effective oral and written communication skills including formal and informal presentation skills Ability to underwrite moderately sophisticated accounts, including knowledge of Commercial Property, General Liability, Automobile, Excess, Management Liability and Crime forms, pricing, rating methodology and valuation tools. Ability to underwrite small to medium property and casualty insurance programs up to $500,000 in manual premium. Effective negotiation skills Ability to gather, report and act on appropriate market information and trends Strong communication skills; able to collaborate with multiple stakeholders, both internally and externally. Organized skills and ability to handle tasks on a priority basis required to maintain consistent high quality and to meet short-and long-term program objectives.

US$65000 - US$85001 per year
York
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Vice President, Data Analytics Manager

This hybrid opportunity is based in NYC, and is perfect for a mid-senior level Compliance Data Analytics Officer to perform the collection, aggregation, analysis and visualization of customer, product, and transaction data. The ideal candidate should have exceptional communication skills, a deep knowledge of BSA/AML transaction monitoring systems, and be able to liaise with internal stakeholders. Similarly, this individual will develop and test tools, systems, and system changes in line with policy and regulatory expectations.

US$127000 - US$190000 per year
New York
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Quantitative Credit Risk Analytics, VP

My client is seeking an experienced Wholesale Modeler to join their dynamic team of Risk Strategists. This role offers an exciting opportunity for a skilled quantitative expert with a strong background in wholesale credit risk rating - PD (probability of default) and LGD (loss given default) modeling. You will collaborate with cross-functional teams to design, develop, implement, and validate complex financial models. The ideal candidate should have experience developing internal risk rating models, collaborating with stakeholders to ensure model outputs align with strategic goals, and conducting rigorous model testing to assess accuracy. This is a hybrid role based in NYC, so if you or anyone in your network is interested in connecting further, please respond with an updated CV and availability for a quick chat:

US$150000 - US$180000 per year
New York
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Risk Tech Specialist

A multi-strategy hedge fund is looking to hire a Risk Tech Specialist as they build out their front office support functions in NYC. The fund has over $5 Billion in total AUM and are looking to continue expanding their systematic strategies across multiple asset classes. This hire will wear multiple hats across the Risk and Technology teams in a very hands-on role. The team is looking for a strong quant risk analyst with development experience - whether developing models or designing tools for the desk. This is a great opportunity to get in the weeds and enhance model codebase, revamp risk databases, and build smarter portfolio analytics and risk tools for PMs in the NYC office. It's a tight knit group, so this hire will have daily interaction with multiple portfolio managers. Requirements: 2+ years quant risk experience (buy side preferred) Masters and/or PhD in a quant discipline Expertise with Python, C#, C++, and/or SQL Broad multi asset knowledge (Rates, FX, Equity, Commodities) Experience with risk model development, data modelling and visualization, risk infrastructure development, software engineering, etc.

US$150000 - US$200000 per year + bonus
New York
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Manager Credit Risk Modeling

I am currently working with a global consulting company in need of an experienced Credit Risk Modeling professional. The chosen candidate will take the lead in various quantitative credit risk projects, working alongside interdisciplinary teams to tackle intricate challenges and formulate practical models primarily for clients in banking and insurance sectors. This position provides independence in project management and opens avenues to influence the company's direction right from the start. As part of the Credit Risk team, you will play a pivotal role in advising clients on matters related to their risk models, policies, and governance. Your Responsibilities: Lead diverse quantitative credit risk projects. Collaborate within multidisciplinary teams to address complex challenges. Develop actionable models for clients, primarily in banking and insurance sectors. Enjoy autonomy in project management. Serve as the primary client contact. Skills to be successful 5 years of experience in quantitative risk, as well as broader risk governance in the credit risk area. Strong knowledge of programming tools (e.g. R, Python, MatLab, SAS). Master's degree in econometrics, mathematics, quantitative finance, statistics, or related topics. Fluent in German and English.

Negotiable
Frankfurt (Oder)
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(Senior) Auditor (m/w/d)

Job Summary: Our client, a bank in Nuremberg, is looking for a (Senior) Auditor to join their team of highly skilled auditors with different specialisations in business and IT-audit. The role is within the business audit unit and the focus will be on the credit business, the risk management and the overall bank management. Responsibilities: Plan, manage and carry out audits in the related fields. Independent monitoring of the relevant business processes in the organization, risk management and the implementation and review of the internal control system. Accompany projects and carry out project audits, examining the ICS to ensure the implementation of regulatory requirements. Regular contact with the audited departments and their management, responsible for reporting the audit results and following up on open measures resulting from the audits. Support of the department head in strategic audit planning and the implementation of the annual audit program. As (Senior) Auditor, you should have: About 5 years of experience in auditing banking operations, ideally in an internal audit function or a related role at credit institutions or external auditing firms. Bachelor's degree in economics or a related field or a banking apprenticeship with additional certifications Strong understanding of regulatory requirements in the banking industry such as MaRisk, CRR, KWG and relevant EU regulations Excellent communication and interpersonal skills, with the ability to build and maintain relationships with stakeholders at all levels. Fluency in German is required; conversational English skills are a plus. If you are interested, please contact Niklas Schirra, Principal Consultant at Selby Jennings. We are looking forward to hearing from you soon!

Negotiable
Nรผrnberger Land
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Director, Counterparty Credit Risk (Insurance/Private Equity)

I am currently working with a bank that is seeking a Director-level Senior Credit Officer. This individual will be responsible for evaluating the creditworthiness of counterparties and underlying assets, providing detailed analysis, and making recommendations for credit approval. In this role, you'll play a vital part in monitoring portfolio quality, tracking market trends, and contributing to strategic decision-making within global financial operations. Ideal candidates should have 10+ years of relevant experience in financial services, with expertise in credit risk management within the Financial Institutions sector, particularly focused on insurance and private equity. Responsibilities: Conduct comprehensive credit assessments of counterparties and underlying assets. Provide detailed analyses and evaluations of risks within the insurance and private equity sectors. Monitor credit quality and track market trends. Contribute to setting global risk appetites. Collaborate with various teams to drive decision-making and enhance risk assessment strategies. Requirements: 10+ years of experience within financial services, with a focus on insurance and private equity. Broad knowledge of credit risk specifically within the Financial Institutions sector Good understanding of the US market and regulatory practices. Strong analytical skills

US$170000 - US$300000 per year
New York
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Credit Analyst - Financial Institutions (m/f/d)

We are seeking a highly skilled and motivated Credit Analyst to join our client in an International Bank in France. This role offers the opportunity to manage a diverse portfolio of African and European Banks, as well as Non-Banking Financial Institutions. You will be responsible for preparing credit proposals, new transactions, and sanctioning exposure/limits for clients within designated risk parameters. Additionally, the role involves handling Global Credit Applications for various Global Financial Institution. Key Responsibilities: Portfolio Management: Handle a portfolio of African and European Banks and Non-Banking Financial Institutions. Assess creditworthiness and risk parameters for clients within delegated authority. Credit Proposal Preparation: Prepare credit proposals, new transactions, and exposure/limit sanctioning within specified timeframes and quality standards. Evaluate risks associated with Trade Vanilla, Lending, and FX transactions. Global Credit Applications: Manage Global Credit Applications for several Global FI names. Exposure Monitoring: Monitor local credit exposures and Global Corporate exposures for the Group. Ensure timely renewal of credit files before expiration dates. Qualifications and Skills: 3-5 years of experience in credit analysis within the banking or financial services industry. Experience in handling diverse portfolios of banks and financial institutions. Excellent communication skills in English and French. Proficiency in preparing credit proposals and conducting risk assessments If you meet the requirements above and are interested in this exciting opportunity, please submit your application today. Our client offers a competitive salary and benefits package, as well as opportunities for career advancement within a dynamic and innovative international bank. For further information, please apply here or get in touch at: +4930166340768

โ‚ฌ55000 - โ‚ฌ70000 per annum
Paris
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Model Risk Manager

A top American Investment Bank is adding senior headcount in model validation. My client is a top investment bank, providing clients with capital markets and financial advisory services, wealth management, and more. The firm offers a wide range of investment banking sector expertise across energy, industrials, real estate, tech, public finance, and health care. The firm is looking for a Mid-Senior level model validation professional to report up to the Global Head of Model risk for the firm. They are considering strong candidates with experience covering risk model validation for a range of Capital Markets related activities. This position will sit on the model validation team which is a hands-on group, and you will report directly to the global head of the group. Candidates must come from a strong Math and Stats background with experience validating or developing Derivatives Pricing, Counterparty Risk, and Securitized Products models. Responsibilities: Manage all risk that arises from models used in the firm - specifically Derivatives Pricing, Counterparty Risk, and Securitized Products models. Help train and oversee the work of consultants that work with the validation team. Be hands on in model validation and serve as an SME in Capital Markets Models Independently lead approval and validation of models - raising and managing model validation findings Asses/Quantify model risk arising from model limitations to inform stakeholders of risk profile. Effectively communicate results of model validations to the key stakeholders and management Qualifications: Masters or PhD in quantitative field 5+ year model validation experience Strong experience in derivatives pricing (IR/FX/Fixed Income) Python and or C++ Strong communication skills

US$150000 - US$200000 per year
Tampa
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Senior Manager - Third Party Risk Management - Banking

Job Title: Senior Manager - Third Party Risk Management - Banking Location: Hong Kong We are currently seeking a highly experienced and dedicated individual to join a reputable bank as a Senior Manager in the Third Party Risk Management department. Responsibilities of Third Party Risk Manager: Collaborate with service managers and specialized functions, such as Compliance, Legal, CISO, etc., to effectively manage third-party risks. Maintain an up-to-date vendor inventory and implement relevant controls to ensure transparency and accountability. Coordinate with service managers throughout the entire vendor management cycle, including selection, certification, contracting, service monitoring, and termination. Work closely with the Global Third Party Risk Management team to implement procedures, policies, workflow enhancements, and local system migration. Update the Asia Third Party Risk Management related MIS, including vendor population, Key Risk Indicators (KRI), exception requests, and project updates for the Global Third Party Risk Management team. Collaborate with the second line of defense Non-Finance Risk team to conduct Risk Control Self-Assessment (RCSA) exercises, including assessing the effectiveness of controls. Coordinate internal and external audit requests and ensure timely implementation of action plans. Requirements for Third Party Risk Manager: Demonstrated experience third party risk management in banking. Proven ability to identify problems and provide practical solutions in a dynamic environment. Strong teamwork skills with a proactive "can-do" attitude, exhibiting the ability to work independently. If you are a highly motivated and experienced professional with a solid background in the Banking industry and a passion for effective third party risk management, we invite you to apply for the position.

Negotiable
Hong Kong
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IRB Manager

Role: IRB Manager Location: Flexible Join our client's dynamic team, an specialist consulting firm with a global footprint,. They specialize in risk management, finance, and strategy. As a boutique firm, they break down silos, delivering innovative solutions based on deep expertise. Key Responsibilities: Develop and validate credit risk models, leveraging your 4+ years of experience, including consultancy exposure. Dive into operational tasks related to IRB models, showcasing your deep expertise. Stay abreast of regulatory requirements, especially those tied to the IRB approach (think IFRS 9). Utilize your quantitative background and analytical prowess to drive impactful results. Master relevant applications and coding languages (think Excel, Python, SQL) Key Requirements: Minimum four years of experience in credit risk model development and/or validation, including at least one year in consultancy. Deep expertise in operational tasks related to IRB models, coupled with knowledge of current regulatory requirements. Fluent in English and either German or Spanish (bonus points for creating professional reports). Passionate about driving innovation and sustainability. Excited to be part of a people-driven, collaborative environment.

Negotiable
Netherlands
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ESG Risk Manager

Position: ESG Risk Manager Location: Flexible Join our client's dynamic team, an specialist consulting firm with a global footprint,. They specialize in risk management, finance, and strategy. As a boutique firm, they break down silos, delivering innovative solutions based on deep expertise. Responsibilities: Collaborate across multifaceted competencies to create client-specific solutions. Drive sustainable implementation strategies. Contribute actively to firm development. Requirements: Minimum 5 years of experience in Management Consulting or Banking Industry (especially Credit Risk Management/Risk Controlling). Proficiency in ICAAP/ILAAP, stress testing, and capital management. 2 years of ESG experience, including: Integrating ESG into strategy and bank steering. Conducting Climate Risk Stress Testing. Calculating emissions (PACTA). Setting Decarbonization targets (SBTi / PACTA). Regulatory disclosure preparation (Pillar 3) and non-financial reporting. Familiarity with current regulatory requirements related to ESG (ECB Guide on Climate and Environmental Risk, EU-Taxonomy, NFRD/CSRD, EBA guideline on Pillar 3 reporting - Green Asset Ratio) and other frameworks.

Negotiable
Netherlands
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Risk Management News & Insights

Risk Management Salary Guide For Europe Image
hiring advice

Risk Management Salary Guide For Europe

Are you a Risk Management professional considering your next career opportunity? Or are you a financial sciences & services leader that requires strategic talent to join your organisation? The Risk Management Salary Guide by Selby Jennings can assist, equipping you with the essential knowledge and insights necessary to make well-informed decisions, whether that's helping you attract top talent to steer your business towards success, or benchmarking your compensation against your peers. Spanning entry-level positions to senior leadership roles, this salary guide also covers compensation differences across key European locations, including London, Germany, and Switzerland. With 20 years of experience as a specialist talent partner in financial sciences and services, our comprehensive Risk Management Salary Guide empowers hiring managers and professionals alike. โ€‹Download the 'Risk Management Salary Guide: Europe' today:โ€‹โ€‹Building Risk Resilienceโ€‹Discover the overall Risk Management talent landscape with our dedicated report, that includes deep industry insights into the current state of financial services risk management recruitment.Also interested in Risk Management compensation in the USA? Access our US version of the salary guide here.

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Embracing Disabled Talent: Driving Success Through Inclusive Hiring in Europe Image
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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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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 bonusesย 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. โ€‹Download your copy of the 'Bonus Season Breakdown' report by completing the form below:โ€‹

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

How to Make the Perfect Job Offer

โ€‹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.โ€‹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. Donโ€™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 offerโ€“ how many people will they be managing? Will they be heading up important projects?The current labor marketโ€“ will this be a difficult or easy position to fill?The current performance of your companyโ€“ how much can you afford to pay a new candidate?The skills required for the job โ€“ are they rare? Do you need a specific combination of hard and soft skills?The salaries of others in the companyโ€“ is the upper limit offered still within the bracket you have set for others at this level?Your locationโ€“ 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 candidateโ€™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 candidateโ€™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 employeeโ€™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 leaveโ€“ a generous holiday offer, including the recent trend amongst start-ups to provide unlimited leave, shows a level of trust and value.Flexible workingโ€“ 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 developmentโ€“ 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 cultureโ€“ 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 isnโ€™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 bonusesโ€“ agree to pay a bonus if certain targets and milestones are hit.Commissionโ€“ some roles can benefit from a commission rewards system, where the employee is compensated for business and leads generated for your company.A signing bonusโ€“ 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 negotiationโ€“ 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-sharingโ€“ 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 feelingsโ€”itโ€™s the reality of job hunting in a busy and high-quality labour market. You donโ€™t want to provide a lengthy critique which kicks your applicant when theyโ€™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 werenโ€™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.โ€‹View and download your free printable version belowโ€‹

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How to Decide if a Job Offer is Worth Taking

โ€‹Landing a job offer is a great achievement and it can be tempting to grab it with both hands, particularly if youโ€™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 itโ€™s imperative that you accept a job offer for all the right reasons.โ€ฏEven 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, weโ€™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.โ€ฏAm 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 youโ€™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. Itโ€™s good to be challenged from a new role, but not at the expense of your long-term happiness, so itโ€™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 arenโ€™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.โ€ฏLook at the following benefits when evaluating a job offer:โ€ฏAnnual leave - is there a generous allowance for paid time away from the office?โ€ฏDoes the role have a good pension? What is the employer contribution to your pension?โ€ฏHow good is the health insurance provided by the company? What does it cover, specifically?โ€ฏDoes 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.โ€ฏA 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 โ€˜on the roadโ€™, 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 businessโ€™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 whatโ€™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 โ€˜yesโ€™ 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.โ€ฏCan 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 havenโ€™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 donโ€™t run alongside your own you may want to reconsider taking the job offer and keep on looking.Does it advance my career?Youโ€™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? Itโ€™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?โ€ฏLinkedIn 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 โ€˜gut feelingโ€™ 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, thereโ€™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.โ€ฏNo 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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