Articles - Financial services job growth driven by compliance needs


 The demand for compliance and risk management skills is driving job creation and salary growth in the UK financial services sector.

 Annual earnings in 2013 for financial services and insurance roles saw a 4.2 per cent increase over the previous year1 – with senior level appointments in risk management and compliance jumping by 12.4 per cent in the same period, according to specialist recruitment consultant, MERJE.

 Richard Abelson, director at MERJE, said: “Strict regulatory requirements ushered in by the financial crisis have led many companies to shift their focus towards limiting their exposure to risk. Compliance has become just as important to businesses as minimising costs or driving growth – creating a surge of job opportunities in the financial services sector which are replacing those lost during the recession.”

 Significant demand for individuals with backgrounds in compliance and risk management is also helping to close the gender pay gap and increase opportunities for UK women. Recent data from the ONS highlighted that differences between men and women were greatest in the financial services and insurance sector – varying by 37.8 per cent.

 Richard added: “Given the need and competition for individuals with these skills among UK employers, MERJE has found that candidates are being paid a premium for their experience – regardless of gender. UK companies are looking at an individual’s understanding of the regulatory environment. For senior level candidates who can demonstrate their effectiveness in balancing risk and growth – the sky is the limit.”

 A recent survey by the Chartered Institute of Insurance found that 54 per cent of companies expected to increase their spending on training and recruitment. With employers investing heavily in the selection of candidates with specialist experience, MERJE predicts that the market for individuals with compliance and risk management experience will continue to grow rapidly throughout 2014.
  

Back to Index


Similar News to this Story

A step change is expected for DB pension scheme funding
Mike Smedley, Pensions Partner at KPMG in the UK discusses some of the changes expected for DB pension scheme funding in 2019
What does the ideal actuarial consultant look like
We recently published our Navigating Change report, which looks at the changing role of the actuarial consultant. One issue that struck me was the w
The Ecosystem of Trust
Insurance is generally regarded as a background product, one of the necessities of life that most people have but do not regard as very exciting when

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.