2020 Compliance Salary Guide
Our 2020 Compliance Salary Guides provide an overview of the recruitment and remuneration of the compliance market in the UK and Asia.
In these guides, we discuss what is driving recruitment in compliance, exploring the distribution of demand amongst skillsets and roles, the reasons behind it and the effects on remuneration. In addition to market commentary, we have provided comprehensive salary information broken down by sector and level.
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UK Overview –
Inherently dynamic, the 2019 UK compliance recruitment market was stimulated by financial institutions facing clear regulatory burdens, or those in growth mode who require compliance overage to be mirrored accordingly. Meanwhile, others (typically more established household names, many of whom over recent years have invested in and to some extent ‘fixed’ their compliance issues) have trimmed back. A somewhat simple generalisation, but largely this has been the pattern witnessed throughout 2019 and in the recent past.
In contrast to previous years, where the likes of MiFID II and GDPR demanded all-consuming implementation projects, 2019 was characterised by fewer hiring spikes on single-issue topics. With the exception of the final phase of SM&CR implementation, 2019 was comparably quieter in terms of noticeable regulatory reform. Instead, the FCA appeared to be encouraging a continued shift towards supervision and adherence, with the onus on businesses to be delivering credible, optimised compliance solutions…
Asia Overview –
The compliance market in Asia remained generally stable in 2019. As with all areas, technology and innovation has continued to permeate the compliance landscape across Hong Kong and Singapore meaning a reallocation of headcount and budget away from roles that can be automated or offshored.
Replacement hiring made up the majority of compliance hires in 2019 given the large-scale team build outs that drove hiring over the past 4 years has now largely ended. The introduction of systems and technology has enabled organisations to realign what their headcount and budgets look like across financial crime and surveillance areas in particular…
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