The latest Robert Walters UK Jobs Index has revealed that compliance vacancies have risen across the UK, with the number of jobs available in the third quarter of 2017 up 4% compared to the same time last year.
Stringent financial regulations and high levels of scrutiny have driven banks and financial services firms to build robust compliance teams.
Ongoing pressure from regulators is driving demand for specialists in this area as employers look to build robust compliance functions.
“Recruitment levels for compliance specialists have been high for the past several years as employers have strived to avoid the financial and reputational costs of failing to adhere to legislation and guidelines,” commented James Murray, Director at Robert Walters.
While the overall change in role volumes is small, this should be seen in a context of a historically high number of vacancies. Surveillance and advisory specialists have been in acutely high demand, but opportunities are also abundant for professionals with a background in regulatory change, central compliance and regulatory management and policy.
US regulatory experience highly sought after
"Recruitment levels for compliance specialists have been high for the past several years as employers have strived to avoid the financial and reputational costs of failing to adhere to legislation and guidelines."
Investment banks showed a particular desire to source compliance professionals with experience with US regulatory frameworks, competing over an extremely limited talent pool.
“Candidates with experience of CFTC, Dodd Frank and Volcker have been extremely sought after, with employers prepared to offer generous salaries or day rates to attract and retain top talent,” added James Murray.
However, hiring managers should consider the fact that candidates are increasingly looking for more than just salary when deciding on whether or not to take a role. Work life balance is a frequently a priority, particularly for senior professionals. Offering agile working models or flexible hours can give employers an advantage when recruiting.
Given the extremely limited talent pool available with this specialist knowledge, employers should also consider sourcing professionals from outside of the UK. Partnering with a recruitment consultancy with access to an international network can help firms to find top calibre professionals to fill these business critical roles.
Read the latest Hiring Advice articles.
Explore our Latest Whitepapers.