Advertisements for compliance and risk roles in the banking and finance sector have increased 122 per cent over the past five years and 48 per cent in the past year alone, according to data from jobs website SEEK.
Presently, 13.5 per cent of banking and finance roles on SEEK are in compliance and risk.
Commenting on what has sparked this trend, Corey Babich, manager in financial services for recruitment company Charterhouse, said the Banking Royal Commission in Australia over the last year has led to a direct increase in compliance and risk roles being mandated by clients across all sub-segments of the financial services and insurance sectors.
“Specifically, deep-dive knowledge around conduct, service commission models and advice have all been highly sought after in the candidates our clients are seeking to meet,” Babich said.
According to SEEK, there has been a 13 per cent increase over the past 12 months in candidates searching for compliance and risk roles on the website. However, there is still a shortage of candidates to fulfil jobs advertised in areas such as NSW, Brisbane and Perth.
“Compliance and risk job roles require an extremely niche skill set which can vary across different industries. Therefore, it can be hard for recruiters to find the right person for the role, or for candidates to even know that these roles exist outside of finance and banking institutions,” said SEEK’s ANZ managing director, Kendra Banks.
“Based on SEEK’s most recent data, we do anticipate seeing an increase in candidates looking for these types of roles over the next year.”