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Interim Market Report 2011 - Compliance Executive Summary

Welcome to Barclay Simpson’s 2011 Interim Compliance Market Report. This is the 21st year we have produced a market report summarising and analysing recruitment trends in corporate governance and the 7th year we have produced a specialist report on compliance. We place great value on professional reaction to the Report and would appreciate your comments.

An overview of the corporate governance recruitment market and an in-depth analysis of the economic and business trends that are likely to shape the overall recruitment market can be found in our
Corporate Governance Market Report.

Top line conclusion

Formally the recession has been over for almost two years. In more usual times the economy would now be a place of rising confidence and investment as it embarked on a period of steady growth. It is clear we are far from there. However the compliance recruitment market, in spite of operating in an economic environment of sub trend growth and squeezed living standards, is enjoying a period of unprecedented growth.

It is perhaps the good fortune of many of the people who work in financial services, that the industry has come to have a disproportionate influence on the UK’s financial situation. This is both in terms of its size and its importance to the functioning of the economy. Many would argue that it was allowed to grow too big and much of it lacks any social utility. That was not a common opinion prior to the financial crisis when the tax receipts and employment it provided contributed disproportionately to the growth and perceived success of the economy.

Possibly as a result of their own culpability and a desire to be seen to be acting decisively, politicians and regulators were never going to allow themselves to be left open to the charge that they did not do enough in response to the financial crisis. The light touch regulatory approach has been replaced by far more aggressive regulatory oversight. There is currently a substantial raft of regulation that is in the process of being implemented, much of it with a 2012 target date. This revised approach to regulation is resulting in demand for compliance staff that is both unprecedented and impractical to meet from the existing pool of expertise. A detail perhaps overlooked by its promoters.

We made the point at the start of the year that it is unlikely that there has ever been a better time to be working in compliance. At the half way point of the year nothing has changed our view. We may however add one note of caution based on over twenty years of experience: recruitment booms, like others, do not last indefinitely.

Latest jobs

Audit Manager
  • Location West London and/or City
  • Salary £60-80,000
  • Job type Permanent
  • Sector Banking, Asset management/Funds
  • Description This niche bank offers a great opportunity to join internal audit at a time of growth. You can leverage your subject matter expertise to learn new areas while developing your coaching skills.
Senior Auditor
  • Location London or West London
  • Salary £40-60,000
  • Job type Permanent
  • Sector Banking, Asset management/Funds
  • Description This mid-sized financial services company operates in a number of markets including, retail and corporate banking, asset and wealth management. It has vacancies for an Audit Manager and Senior Auditor
Senior Manager Regulatory Liaison
  • Location London
  • Salary £95,000
  • Job type Contract/Temp
  • Sector Banking
  • Description My client is a leading retail bank based in the city. They are looking for a Senior Manager in the Regulatory Liaison team for an initial 6 month FTC maternity cover
Head of Risk
  • Location Dublin
  • Salary £90,000 - £120,000
  • Job type Permanent
  • Sector Operational Risk, Market Risk
  • Description My client is a Global Asset Management firm, seeking a Head of Risk to join their Dublin based team.  This is an exciting opportunity which offers a senior platform to influence and be part of
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