FIRMS are piling into compliance hiring as tighter and more complex regulations bite, and companies worry about future scandal, according to research released today by financial services recruitment firm BrightPool.
Compliance will be the most popular area for financial services recruitment this year, making up 34 per cent of new jobs, well ahead of finance itself, which comes in third at 16 per cent, said contractors surveyed.
“It is salutary that compliance continues to be a growth area of work, given how much resource financial services businesses have already invested in it,” said Angela Hickmore, managing director at BrightPool.
This will be driven by tougher regulation of financial services, including through Basel III and Solvency II.
Increased compliance hiring is “a necessity, not a choice” due to the UK’s huge regulatory burden, Hickmore argued.