With pending legislation aiming to bring better financial regulation and prevent another meltdown, hiring in the financial compliance sector is at an all time high.
Wanted Analytics brings us the data:
A recent article on Fortune looked at hiring for Compliance Officers in the wake of changing regulations, including Dodd-Frank and pending Volcker legislations. We thought we would look at the trend of job postings, skills required, and how hard-to-fill these job openings are.
In the past 60 days, more than 300 financial services firms have posted a total of 1,200 job ads for Compliance Officers across the US. This is a 49% increase compared to the same 60-day period in 2011. With the increasing regulations affecting banks and other financial services companies, seeing this increase in specialized hiring is not too much of a surprise.
Hiring Demand for Compliance Officers – 4 Year Hiring Trend
- Source: WANTED Analytics
In addition, it may not be too surprising that New York, Dallas, and Chicago lead the US in hiring demand for these professionals. Recruiters in these 3 areas are likely to see challenges with sourcing enough candidates to fill job openings and will compete heavily for qualified talent. Our Hiring Scale™ shows that employers in New York City are seeing some of the most difficulties and longest time-to-fill. Here, job ads stay online for more than 6.5 weeks, about 1 week longer than average.
Hiring Scale for Compliance Officers – New York, NY (Hard-to-Fill)
Source: WANTED Analytics
Some of the commonly required skills listed in online job ads for Compliance Officers include:
- Microsoft Office
- Compliance testing
- Microsoft PowerPoint
- Internal audit
- Microsoft word
- Audit management
- Portfolio management
- Transaction processing
- Microsoft Project
- Microsoft Access
- Microsoft Excel
- Microsoft SharePoint
- Legal research
Some of the most demanded certifications for these candidates include:
- Certified Public Accountant (CPA)
- Certified Internal Auditor (CIA)
- Certified Fraud Examiner (CFE)
- Chartered Wealth Manager
- Chartered Financial Analyst (CFA)
- Juris Doctorate Degree
