The labour market data used in this press coverage was extracted from Vacancysoft Analytics. For more information, or to book a demo, click here.

Oct 8, 2021 | In the press

UK – BANKING JOB VACANCIES SURPASS PRE-PANDEMIC HIRING RATES

Banking vacancies in the UK surpassed pre-pandemic hiring rates and reached record levels over the summer and are predicted to grow further according to research from Morgan McKinley and Vacancysoft.

The research found that the number of new banking jobs exceeded the 5,000-mark for the first time in June (5,148) and then continued into July (5,324) and August (5,763).

Hiring levels by the end of 2021 are predicted to finish up by 44% compared to 2019 across the UK. In London, where the majority of jobs are located, firms published 2,804 professional banking vacancies in August and are on course to finish 2021 up by 30% in relation to 2019.

The figures show that the most popular category of UK banking jobs published are for risk and compliance specialists. Professional hiring for these experts makes up 12.8% of all banking vacancies, up 1.3% since 2019. In London, the proportion is slightly higher at 13.7%, an increase of 1.5%. Risk and compliance departments are also recruiting at a faster rate than others, growing 61% across the UK and 46% in London.

Leo Bellometti, Senior Consultant Compliance and Risk, and Ben Harris, Senior Manager, Head of Governance from Morgan McKinley, said in a statement, “As institutions adjusted to video interviews and remote onboarding, recruitment plans changed in May 2020. This continued throughout 2021 with risk and compliance vacancies in banking and financial services projected to rise by 61% by the end of 2021 versus 2019 and 2020 levels.”

First published in Staffing Industry Analysts News. Read the full article here.

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