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Demand for risk specialists set to rise
Written by staff reporter
Despite ongoing uncertainty regarding Britain’s negotiations to leave the EU, regulatory pressures are continuing to drive demand for specialists in risk and compliance, with a third of UK companies polled by specialist recruiter Robert Walters stating that they are planning to grow their risk and compliance teams plan grow in the second half of the year.
According to associate director at Robert Walters, James Murray, mid-level professionals will be most highly sought after, with 79% planning to hire at this level.
“SME banks and asset management firms have been responsible for a significant percentage of hiring at mid-level for compliance and risk professionals, particularly VPs and AVPs,” he said.
“For larger firms, anti-financial crime specialists are likely to see particularly high demand for their skills, with those at mid-level in demand to establish new frameworks and procedures to ensure that businesses have a robust strategy in place to prevent financial crime.”
“As deadlines approach for the implementation of MiFID II, employers seem eager to source high calibre compliance professionals to ensure that their operations and procedures are in accordance with the legislation,” Murray added. “Similarly, many employers are looking source highly skilled and experienced professionals to ensure that they have a robust risk function, acutely aware of the serious reputational and financial implications if they fail to meet required standards in this area.”
The recruiter said as a consequence, compliance and risk professionals are in a strong position to command generous salaries, particularly for those who can demonstrate experience implementing projects relating to key areas of legislation.