Recession watch

Risk managers

In demand

An FT article quoting AIRMIC and Recruitment Consultants saying more risk managers will be needed as a result of the recession, not just in Insurance and Banking but in all industries.

http://www.ft.com/cms/s/0/a0609114-f61f-11dd-a9ed-0000779fd2ac.html?nclick_check=1

TUPE obligations under insolvency

A recent tribunal appeal found that if an administrator can't rescue the company the TUPE obligations stop with the insolvent company (this is likely to be appealed we think).

http://www.shoosmiths.co.uk/news/1851.asp

Chief Risk Officers handed more power

Current circumstances mean there is a big opportunity for risk managers, according to this report which is an article from Mitch Feldman, President of recruitment consultants  A.E. Feldman. This is a US based article but discusses the status of the Chief Risk Officers who have been handed more power as a result of the recession. Risk managers are essential  for unravelling the complexities involved in credit, counterparty and liquidity risk. The report quotes Aaron Brown, a Risk Manager at hedge fund AQR Capital as saying, “You can’t be a good risk manager if you don’t love risk.”

Risk Management Watch: Financial Crisis Big Opportunity for Risk Professionals by AE Feldman

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