As confidence among City workers rises in light of the strong economy, compliance professionals are looking for new opportunities.
The figures from the Robert Walters City Jobs Index, which tracks the number of jobs available and candidates seeking jobs in the City of London month-by-month, show that the number of compliance specialists seeking new roles was up 24% compared to the same time last year.
New guidelines drive demand for compliance specialists
“Pressure from regulators has seen demand for compliance professionals in the City soar throughout 2015," said Chad Lawson, Associate Director for Compliance Recruitment at Robert Walters.
"Employers are being forced to compete for top talent as, despite a surge in the number of candidates, demand for compliance professionals continues to outstrip supply."
Employers struggle to fill permanent vacancies
Demand is highest for professionals to fill permanent roles and employers are still struggling to tempt candidates away from the high salaries on offer from contract positions. Despite this, demand has also risen for contractors, with the number of vacancies up 19% compared to the same time last year.
At present, demand is highest for professionals with a background in:
- Controls testing
- Fixed income advisory
”Professionals with a background outside these specialisms should not rule out a move into compliance however. During the recession employers were in a position to select a candidate who met the exact requirements for a role, but as the economic outlook has improved this dynamic has changed," continued Chad Lawson.
During the recession employers were in a position to select a candidate who met the exact requirements for a role, but as the economic outlook has improved this dynamic has changed
Candidates from a range of backgrounds with transferable skills and the aptitude to learn can offer an effective, long term solution to the skills shortage currently faced by employers. Professionals with the necessary skills are able to make the transition into a compliance role provided they can demonstrate their potential to employers.