Competition for the Best Compliance Professionals Remains Fierce in the Face of Ever More Demanding Regulatory Requirements

Mar 29, 2016, 03:00 ET from Barclay Simpson

LONDON, March 29, 2016 /PRNewswire/ --

Specialist Corporate Governance recruitment consultancy, Barclay Simpson, has released its annual Compliance Market Report which highlights the continued robust demand for experienced compliance professionals and it is clear that companies are determined to recruit against higher standards than ever before. Overall 75% of managers report that compliance professionals are hard to find and of these 62% report that finding compliance professionals with the required technical skills is the greatest challenge, against 38% reporting interpersonal skills.

In the face of ever increasing regulation, most notably the requirements of the Senior Managers Regime and MiFID II, there has been a significant shift in demand towards more experienced and higher quality professionals, with 45% of managers likely to recruit compliance specialists with over 5 years' experience (up from 27% last year).

Banking leads the way in demand for compliance professionals as they face the challenges of structural reform and resolution; integration of new institutions; data and regulatory reporting; culture and treatment of customers; and competition and innovation. With further requirements across the markets, investments and insurance sectors, compliance professionals with the necessary combination of soft skills and technical expertise are widely sought after. In the face of this, 68% of managers report that their compliance department is "insufficiently resourced for the demands made upon it", despite 42% of managers reporting an increase in their recruitment budget.

Tom Boulderstone who heads the Compliance recruitment division of Barclay Simpson commented, "Competition for staff is as strong as ever and companies are having real difficulties in attracting and recruiting the calibre of compliance professionals that they now require. For those involved in this profession it is encouraging that both the breadth and depth of the recruitment market is developing. With salaries remaining buoyant, career opportunities in compliance are exceptional."

The full report can be read at: http://www.barclaysimpson.com/compliance-market-report-2016.

Notes to editors  

About Barclay Simpson  

Barclay Simpson is a specialist international corporate governance recruitment consultancy. We recruit regulatory compliance, financial crime, legal, internal and computer audit, risk management, information/cyber security, resilience, data protection and corporate security professionals across all sectors of the economy. We operate from international locations covering the UK and Europe, North America, Middle East and Asia Pacific regions.  

Contact: Tim Sandwell, +44(0)207-9362601, ts@barclaysimpson.com

SOURCE Barclay Simpson