The compliance jobs market remains buoyant due to continued regulatory pressure. Because of this, banking and financial services firms have ring fenced their compliance functions against potential headcount changes.
If you are a policy specialist, now is a good time to be looking for a job. This is because embedding Dodd-Frank remains a key priority, while MiFID 2 is also currently high on the agenda for many firms as the implementation date draws nearer. Transaction reporting is also driving a lot of compliance recruitment within the banking industry.
Fixed income advisory also remains a key compliance recruitment area. Sheer demand has led firms to consider professionals with transferable skill sets for these roles. So if you have the ability to build relationships with the front office, specific product knowledge (as opposed to specific compliance experience) or a background within a different compliance area, you are likely to be in demand for fixed income advisory jobs.
Firms are currently quite cautious about increasing salaries and both pay rises and bonuses are being restricted to only the top performers. In the banking sector, contract rates have actually been cut so you will need to be realistic when considering new job opportunities.