Jérôme Kerviel has thrust the need for more robust risk systems into the spotlight, and the techies that work on them are in short supply.

If banks ever needed an incentive to scrutinise their risk management systems, Jérôme Kerviel’s manipulation of the operational and risk management processes at SocGen has provided it.

According to the FT, SocGen had plenty of warning that its systems were lacking, and the French government, for one, has indicated it will be less forgiving if another Kerviel creeps out the woodwork.

If (as expected) banks start ramping up investment in risk management systems as a result, recruiters say it will come on top of existing high demand for business analysts and project managers with sector experience in investment banks.

Risk management platforms are usually bought over the counter, from vendors such as Apama, SunGard, Algorithmics and Risk Metrics. Roles in investment banks therefore involve tailoring the systems to the organisations' unique needs.

Torquil Warren, team leader at IT and business technologist recruiters Project Partners, says: “It’s very important from a project perspective to make sure you have people who are highly quantitative, highly analytical and understand both the business and the technology. The people who have this combined knowledge are quite few and far between.”

However, William Murday, principal consultant in the technology practice at recruiters NJF Search, says there’s an appetite for developers of these systems within investment banks: “Banks look for people with experience of working on real-time multi-threaded systems using C++, C# and Java, preferably with front-office experience.”

Apama has developed a real-time trading surveillance system for Turquoise – the secondary trading platform originally devised by seven investment banks.

“They realise they want to have a really advanced market surveillance system to be able to detect market abuse, such as transactions that may influence the price or the volume in the market,” says Dr John Bates, founder and general manager of Apama.

Warren says a junior business analyst in this space can bring in £70k, whereas the more experienced will earn up to £90k. Meanwhile, project managers can bring in £80k to £110k, depending on experience, with a potential 50% bonus.

Murday adds: “A developer with experience working on high spec risk management systems within the front office can bring in up to £120k, with a potential 50% bonus.”