This is good news for anyone hoping to work in risk in Edinburgh
Jobs for in risk management look set to grow in Edinburgh with the takeover of Barrie and Hibbert by Moody's.
John Hibbert, co-founder of the Edinburgh-based company, which provides risk management modelling tools for insurers, says: "I expect the Moody's takeover to add to the number of jobs on offer here.
"Moody's is strong on the banking side and I think this is a strategic move to broaden its offering to insurance companies."
The £50 million acquisition, comes against a background of growth in demand for risk specialists. "I see a big increase in demand for risk management. Solvency II is good for our business," says Hibbert.
The University of Edinburgh Business School is seeking to meet the demand with its new MSc in banking and risk, that starts in September.
B&H, which has 70 staff inEdinburgh, and over 100 globally, currently has 13 vacancies, and this could increase.
"So far it seems that Moody's is committed to growing B&H's activities. Maybe it will follow companies such as State Street and build a significant presence in Scotland,' says Hibbert.
The acquisition could also broaden the range of opportunities for B&H staff as Moody's has around 6,000 staff in 27 countries.
Many of B&H's vacancies, especially in its economics department, require a mix of familiarity with financial market modelling and software knowledge.
"It’s a steep learning curve from day one," says Hibbert. "Our most successful employees genuinely relish a challenge. If you want a narrowly-defined, same-every-day role this is not for you."
In the past the company has mostly recruited post-graduates, at least one of whom came from the placement scheme B&H offers in co-operation with the Scottish Financial Risk Academy.
However, Hibbert sees potential jobs in customer-facing roles that might suit graduates with good communications and project management skills. The company is attending graduate recruitment fairs.
Whatever the vacancy, Hibbert advises applicants: "These are all complex roles. Make sure your covering letter explains exactly how you fit the role and shows you have understood what's required."
