I'm looking for some market intelligence... what area is growing fast and in what geographies. Is it because there isn't enough talent, or there is excess demand?

I was asked many times this question and I just want to hear the real practitioners’ opinion so everyone can contribute and profit from the crowd sourcing.

My guess- IT related implementations, compliance, Basel III, ERM, counterparty risk, programming and Quant skills


Looking forward for your active participation.

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  • The skill to maintain knowledge of changing industry regulations and guidelines; how to interpret such knowledge into business as usual terminology; creative communication skills to share knowledge and to report on topics; competence working with statistics/quantitative measurement models; and affinity with information and communications technology.
  • Risk management in infrastructure and capital asset projects is often a tripod of financial risks, contract risks and engineering risks. Risk in one leg of the tripod often has mitigations in one of the two other legs. The amounts at risk are often similar in each of the the legs. It requires combined skills in engineering, finance and contracting and seem to be in short supply. The recruitment pain seems to be limited as the field is still developing.
  • Good knowledge of SAS, Good understanding and application of mathematical concepts, Probability concepts, good understand of various risk models including their applications, Econometrics, and Basel II/III.
  • Compliance and IT related risk management seem to be the hot cake in financial and non-financial institutions in Africa.
  • The problem is, all of the comments are correct. I have never seen so much fear of the future. Each person or company is feeling the effects with all of these concerns in degree or another.
  • Compliance, Basel III, operational risk (including IT, scenario analysis), model development and validation
  • There's isn't enough talent. Risk management - market, credit, operational - requires sound math skills and most importantly, ability to interpret various risk metrics in laymen's terms to the audience so that they can appreciate the inherent risk and ensure that such risk is within the entity's risk appetite.
    Understanding how various market parameters are correlated with each other and with fundamentals is crucial. For e.g., I would like to see candidates understand how does interest rate differentials between two countries affect foreign exchange rates between those two nations; what does high gold prices tell you about economy and what, if any, impact does it have on your entity's balance sheet consisting of rates, commodities and fx positions? Or, can you replicate a short strangle that yields approximately same net delta?
    Basel III is definitely a hot field now as most financial institutions are required to comply with the new rules in th enerar future.
  • I have seen this inquiry a ton from fellow Risk Pro's over the years - both in the US & MENA Region.

    Uncertain why - but the intiial assumptions and by far the most accounted for responses concern the omni-present specter of "IT Exposures." While these offerings certainly addresses needful issues, "IT Issues," in significant (non-IT dedicated) Organizations only represent a small portion of Risk Exposure / Cost of Risk considerations.

    Risk evaluations in the MENA Regions are usually differenciate by Traditional & Zones of Hazard (War risk). Once past that - exposures specific to that Organization's primary mission (Security: Professional Liability / Logistics: Care-Custody-Control of other's Goods / Transportation: Commercvial Auto Liasbility / Warehousing: Property related laibilities / Staff: ever present Workers Compensation-Health-Safety issues) drives the arguements.

    We have found taking a holistic approach to Risk evaluation and remediation invoiloving as many qualified internal stake-holders as you (and Senior Management) can round up to participate - on a long term basis produces the most effective & lasting results.

    Above represents a program you can proudly conevy & sell to your Insurers (especially London's Lloyds Reinsurer syndicates).

    Boris, thanks for this opportunity to comment.

    Jim Noone, ARM CHS-III
  • risk programmers, not necessarily quants but strong SAS C++ coders, integration experience, business analysts skills
  • Transfer pricing is a hot topic. The move is to a Master File/ Country File format for TP documentation. This means the origination of Master Files in English - in many cases taking the best practice example within a Corporation and translating it. The move also unifies TP documentation across a Corporation - which gives the practitioner a link into other overseas subsidiaries in which he has not, to date, been active
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