A call to compliance

Mifid, Basel II, SOX - the pace of regulatory change has increased substantially over the past few years, which has led to the large-scale expansion of compliance departments for financial services firms. But the recruitment market is finding it hard to meet demand, particularly in the UK and Europe. Victoria Pennington reports

THE UK is feeling the brunt of a global dearth of suitable recruits to firms' compliance departments. Candidates across all levels of experience from entry level compliance officers to senior heads of compliance are scarce and salaries are at a premium. "There is undoubtedly a shortage of top class compliance professionals for many firms. Everybody is recruiting across all levels of experience, although those with between three and five years' experience are most in demand," says Peter Haines