- Growing Adoption of Python: Most of the retail analytics companies appear to be migrating to Python and R from SAS
- Some companies like a US bank holding company has completely moved to Python
- While a US Investment Bank, a Europe/ Asia banking firm, a global banking firm and a leading operations management and analytics company are moderate on SAS and are now focusing on Python and R
- A leading commercial bank is still in talks to move processes to Python and R
- Machine Learning, Deep Learning & NLP: a Europe/ Asia banking firm is using methodologies like Machine Learning and is conducting training for their employees. A US Investment Bank and a global banking firm are ramping up on methodologies like NLP and Deep Learning
- Current hiring activity is being dominated by:
- A US Investment Bank is actively hiring in Mumbai and Pune for Fraud analytics
- A global banking firm is hiring in Bengaluru
- A global banking firm is believed to be planning to start hiring for their Pune centre in the next 6 months
- A US banking firm, a leading commercial bank and a leading operations management and analytics company are hiring through internal mobility for replacement hiring
- Please note that Bank/Organization names have been withheld in these summaries, For a detailed version of this report and pricing, please contact bd-central@symphonihr.com
- A European banking major’s Equities business stays for now but will shut by year-end. Equities Product Control is a 60-member team and most of them have already been accommodated internally in other asset classes or other divisions.
- Internal Financial Reporting in a European banking major has moved from India to Manila
- Regulatory Reporting process in a Europe/ Asia banking firm is reportedly moving partly to Krakow from India
- At a leading commercial bank, Chennai team of Product Control moved to Bangalore in 2017 and core Product Control team now exists in Bangalore only
- At a global banking firm, approx. 100 roles are moving in Financial Control from Costa Rica and the next move is expected in Product Control to Mumbai from Tampa later in the year
- An Asia-based financial services group’s Product Control hiring was frozen earlier in the year and there are no updates yet on any new hiring activity
- An Australian multinational investment bank’s 2018 target to ramp up Financial Control by approx. 100 was only partly achieved so there may be some hiring expected
- An American multinational corporation is diversifying itself from a Swiss multinational investment bank. Over the last few years An American multinational corporation has partnered with a Japanese retail and corporate bank
- Please note that Bank/Organization names have been withheld in these summaries, For a detailed version of this report and pricing, please contact bd-central@symphonihr.com
- We see this function exist only in GIC/Captive centers and not in any of the third- party outsourcing providers
- Investment Banking offshore centers that have the biggest teams in India include a European banking major, a leading commercial bank, an American financial services firm, US Investment Bank, a Europe/ Asia banking firm and an Asia-based financial services group among others followed by a global banking firm, a British investment bank, a French international banking group, a Swiss Investment Bank, a global investments company and a global investment bank
- The talent pool is predominantly concentrated in Mumbai and Bengaluru followed by Delhi, Chennai and Pune
- The most often requested research on compliance roles we see are in Trade Surveillance roles as well as Control Room, Chinese Walls and Personal Account Dealings. Most First Line of Defense roles are seen in reporting though Second Line of Defense roles are across the board. Technology roles can also be seen in Financial Crime and AML. Pure Third Line of Defense roles are very few though these are bundled in other job functions.
- A global banking firm is rightsizing compliance roles across the world, so it may impact some Compliance Risk and Analytics jobs in the domain in the short to medium term
- Please note that Bank/Organization names have been withheld in these summaries, For a detailed version of this report and pricing, please contact bd-central@symphonihr.com
- A European banking major is said to continue plans of ramping up quant, credit risk and market risk roles despite the recent downsizing in other areas
- Market Risk hiring is being seen in a global investment bank (Bengaluru), a Swiss Investment Bank (Mumbai) and an Australian multinational investment bank (Gurugram) , with small numbers recently seen by a leading European financial services group (Bengaluru)
- Credit Risk roles are being seen in a Swiss Investment Bank (Mumbai, Pune), a Swiss multinational investment bank (Mumbai), a global banking firm (Mumbai), a British investment bank (Chennai)
- A leading Big4 is planning to set up a team of 50-100 people in Quant for their US based clients in Mumbai, and hiring is currently in the initial stages
- FRTB Market Risk roles are seen in a Swiss Investment Bank (Mumbai) and a British investment bank (Pune); Junior level hiring is being seen in model development and stress testing. Overall FRTB is again finding favor among banks after some slowdown late last year.
- Public sources indicate that Fixed Income Divisions of banks will see the next level of quant penetration as equities. This trend will follow in India as well
- Many banks including a Europe/ Asia banking firm, a British investment bank and a leading UK bank are hiring quants for Brexit related roles
- US banks may hire on SSFA and IFRS9-related roles
- A US banking firm, A leading commercial bank and a leading operations management and analytics company are hiring through internal movements
- Please note that Bank/Organization names have been withheld in these summaries, For a detailed version of this report and pricing, please contact bd-central@symphonihr.com
- A Europe/ Asia banking firm appears to have the largest team in Credit Research with 300+ members, with many talking of a global banking firm and a US Investment Bank having amongst the most complex functional rigour
- Companies like a leading UK bank, a British investment bank, an Asia-based financial services group, a leading European financial services group have comparatively small team size ranging from 30 to 70 people
- A Swiss Investment Bank’s team was recently set up in India and there is another large global bank that is planning a big ramp up in Mumbai
- An Indian digital services and consulting firm and an American services firm are among the large third-party vendors to support this function
- A leading wealth management and asset management firm, two of the Big4, a leading fund service provider, a leading process management firm, a global investments company, an American financial services firm, an Australian multinational investment bank and a leading commercial bank have no teams or little presence in India for Credit Research as per our Candidate Survey
- Please note that Bank/Organization names have been withheld in these summaries, For a detailed version of this report and pricing, please contact bd-central@symphonihr.com
