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Longer working week for Risk Auditors

Posted by | October 27, 2014 | Audit Salary, Audit Working Hours, Latest Audit Information & News, Risk Audit

 

According to a recent survey, there has been an increase in the average working week of risk professionals. The number of auditors who say they regualry work more than 50 hour week has significantly grown. However it is not all bad new as they are very well paid for their overtime.

More than 40 per cent of risk professionals reported working 50 or more hours a week in 2014, a year-on-year rise of 11 per cent since 2013.

Typically the ordinary working week for risk professionals also increased, from 45.5 hours to 45.9 hours. However, only one in ten respondents said they worked regular overtime – considerably fewer than in HR (46 per cent), change management (41 per cent) or compliance (33 per cent). Similarly, only 16 per cent of risk specialists work over the weekend at least once a fortnight, compared with an average of 22 per cent across the wider financial services market.

Risk professionals are seemingly more incentivised by increased pay and benefits than other factors.

Nearly 70 per cent said remuneration is “very important” to job satisfaction, above both work-life balance (57 per cent) and status and responsibility (21 per cent). Only a quarter said that an interesting workload was “very important”, far fewer than professionals in marketing (71 per cent), HR (54 per cent) or procurement and supply chain (52 per cent).

Around a third of risk professionals said they would leave their jobs because of a disappointing salary review, a larger number than in compliance (24 per cent), financial services (21 per cent) or change management (9 per cent).

 

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