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The increasing regulatory burden within the financial services arena is benefitting compliance specialists who can now command considerably higher salaries, according to Compliance Professionals.

Insight from the specialist compliance recruiter found that professionals with CF10A experience in particular are highly sought after by firms and are able to claim rates as high as £800 per day in some cases. Many institutions have struggled to meet the onerous and ever changing reporting requirements placed on them by financial authorities and have sought experts to help to process the additional workload.

Duncan Jeffery, manager at Compliance Professionals, commented on the findings: “The demand has been there for some time now and although it perhaps isn’t yet as frantic as it used to be three years ago, the markets are likely to reach this level again as a result of the ever growing regulatory burden. The arena is so fragmented that we almost have ‘compliance within compliance’ and considering every financial institution requires at least one expert in these roles – from a one man band all the way to the big players – the demand looks likely to continue for some time.”

“Additional factors like ringfencing are only likely to make these professionals even more highly sought after, so it’s likely that specialists with the right skill sets will have a large number of roles to choose from. There’s a limited supply of these specialists in the market at the moment so firms will have to pay above the odds if they want to secure the very best talent.”

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