The volume within the compliance market is as high as ever, with organisations expanding their teams to cope with changes in regulation, such as the consumer credit act and MiFID II.
This has made positions to recruit even more difficult with organisations trying to retain staff by increasing salaries and counter-offering candidates.
ON-GOING STRATEGIES
Compliance candidates on job-boards/ those who are very active in the market are being snapped up extremely quickly across financial services. From a recruitment prospective, this has shifted our focus to headhunting the passive candidates.
Another strategy has been for organisations to look at bringing on candidates with diverse backgrounds; this has been a trend across both regulated and unregulated industries.
Standard Chartered and HSBC have been some of the banks leading the way in financial crime, taking on people from government organisations such as the FBI and MI5 who have substantial investigation experience.
Over the past few months a number of banking organisations have been taking talent from the insurance sector, even in high profile roles such as Jo Evans move from Partnership to Barclays. She now heads up the compliance function of their premier banking division.
For Broadgate Search, a large selling point has been the ability to source candidates from oversees. This has proved particularly successful in the Investment Banking sector, where specific compliance positions can be filled with niche skillsets from oversees.
Credit Suisse’s Wroclaw office provides a huge pool of candidates with experience in areas such as control room, market surveillance & IB Compliance.
Citi’s recent relocation of their risk and compliance function to Belfast has created a large pool of talent; training up juniors and developing skillsets.
CURRENT HIRING TRENDS FOR COMPETITORS OF BARCLAYS INVESTMENT BANK
Citibank
High profile positions at Citi currently include ‘Global Head of Surveillance’ and ‘Global Head of Compliance Testing & Monitoring’ roles.
The business is hiring in the compliance testing, and markets compliance areas across Citi’s Belfast office in addition to a large number of AML positions.
With a hiring freeze in the London office the majority of replacement hires have been relocated to Belfast office.
Credit Suisse
There has been a lot of change at Credit Suisse with a new CEO and a new EMEA Chief Compliance Officer that started earlier in the year; the bank has just undertaken a large number of hires across compliance.
There is a number of live vacancies within the private bank and central functions as well some director level roles in surveillance & monitoring.
Bank of America
Bank of America similarly took on a number of hires in compliance earlier in the year, and the recruitment is relatively quiet for them at the moment.
There is a number of Director level roles on the regulatory compliance front, but recruitment across risk is more prominent.
BNP Paribas
BNP Paribas has recently invoked a ‘compliance project’ whereby the business aims to add 25% to the compliance headcount by the end of the year.
The compliance reviews team in particular has recently taken on a number of hires, and there is a lot of growth on the markets compliance function.
Whilst BNP is still seeking a permanent MLRO, they are also in the process of adding to their financial crime team (particularly advisory based)
Deusche Bank
Over the next year Deutsche Bank is aiming at moving the majority of their compliance function to Birmingham.
This has therefore resulted in ongoing recruitment in this office, across surveillance and monitoring particularly.The volume within the compliance market is as high as ever, with organisations expanding their teams to cope with changes in regulation, such as the consumer credit act and MiFID II.
This has made positions to recruit even more difficult with organisations trying to retain staff by increasing salaries and counter-offering candidates.
ON-GOING STRATEGIES
Compliance candidates on job-boards/ those who are very active in the market are being snapped up extremely quickly across financial services. From a recruitment prospective, this has shifted our focus to headhunting the passive candidates.
Another strategy has been for organisations to look at bringing on candidates with diverse backgrounds; this has been a trend across both regulated and unregulated industries.
Standard Chartered and HSBC have been some of the banks leading the way in financial crime, taking on people from government organisations such as the FBI and MI5 who have substantial investigation experience.
Over the past few months a number of banking organisations have been taking talent from the insurance sector, even in high profile roles such as Jo Evans move from Partnership to Barclays. She now heads up the compliance function of their premier banking division.
For Broadgate Search, a large selling point has been the ability to source candidates from oversees. This has proved particularly successful in the Investment Banking sector, where specific compliance positions can be filled with niche skillsets from oversees.
Credit Suisse’s Wroclaw office provides a huge pool of candidates with experience in areas such as control room, market surveillance & IB Compliance.
Citi’s recent relocation of their risk and compliance function to Belfast has created a large pool of talent; training up juniors and developing skillsets.
CURRENT HIRING TRENDS FOR COMPETITORS OF BARCLAYS INVESTMENT BANK
Citibank
High profile positions at Citi currently include ‘Global Head of Surveillance’ and ‘Global Head of Compliance Testing & Monitoring’ roles.
The business is hiring in the compliance testing, and markets compliance areas across Citi’s Belfast office in addition to a large number of AML positions.
With a hiring freeze in the London office the majority of replacement hires have been relocated to Belfast office.
Credit Suisse
There has been a lot of change at Credit Suisse with a new CEO and a new EMEA Chief Compliance Officer that started earlier in the year; the bank has just undertaken a large number of hires across compliance.
There is a number of live vacancies within the private bank and central functions as well some director level roles in surveillance & monitoring.
Bank of America
Bank of America similarly took on a number of hires in compliance earlier in the year, and the recruitment is relatively quiet for them at the moment.
There is a number of Director level roles on the regulatory compliance front, but recruitment across risk is more prominent.
BNP Paribas
BNP Paribas has recently invoked a ‘compliance project’ whereby the business aims to add 25% to the compliance headcount by the end of the year.
The compliance reviews team in particular has recently taken on a number of hires, and there is a lot of growth on the markets compliance function.
Whilst BNP is still seeking a permanent MLRO, they are also in the process of adding to their financial crime team (particularly advisory based)
Deusche Bank
Over the next year Deutsche Bank is aiming at moving the majority of their compliance function to Birmingham.
This has therefore resulted in ongoing recruitment in this office, across surveillance and monitoring particularly.
