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North West financial services: a compliance-short market

Posted by
23 Nov 2017
GDPR Compliant In line with impending legislation changes within the financial services sector, we are currently experiencing a high demand for compliance and regulatory candidates across all levels of seniority.

With both the General Data Protection Regulation (GDPR) and The Markets in Financial Instruments Directive (MiFID II) coming into force in 2018, both of which will take its toll on the investments sector, regulations will be tighter than ever before. As such, candidates with backgrounds in the Financial Services Compliance arena are vastly required at present, a trend which we expect to see continuing throughout 2018. 

Those in the highest demand at present are candidates with a working knowledge within the institutional investments arena. Candidates who have written policies and procedures, have been involved in compliance testing and monitoring and can interpret as well as analyse regulations are those we have seen the biggest request most recently. Candidates with CF10 and CF11 qualifications are those most desirable.

From a softer skills perspective, our clients have been requesting applicants who are organised, process-driven and show strong attention-to-detail. Communication skills are now also a crucial credential for compliance and regulatory roles; given the penalties organisations can face for not being compliant (a penalty charge of four percent of the company’s annual turnover if there is misconduct of the GDPR, for example), it is important for compliance specialists within financial services organisations to keep the wider business in check when it comes to adhering to industry guidelines. This may involve liaising with colleagues from administrative level right up to the Directors of the organisation, therefore employees in the compliance arena must be able to communicate across the seniority spectrum.

With the limited number of financial services businesses in the North West, candidates with these skillsets are few and far between. Those with the relevant exposure mentioned above have been able to demand lucrative salaries and those relocating from London are even being offered relocation packages. The North West Financial Services market continues to expand and it is encouraging to see that in doing so, organisations are doing what they can to attract the best people for their roles.

As a recruitment agency aiming to facilitate these industry demands, Sellick Partnership are hosting a free breakfast briefing to educate businesses of Liverpool on how to be “GDPR ready”. This is free to attend and will take place from 8.30am – 10.00am at Ground Floor, The Plaza, 100 Old Hall Street, L3 9QJ. Two barristers, Brad Pomfret and Tom Gosling from the esteemed chambers 23 Essex Street, will be discussing the importance of businesses being prepared for GDPR. There will be refreshments as well as the opportunity to network with other organisations and ask questions to experts in the GDPR field. 
If you are interested in attending this seminar, please register your interest to gdprevent@sellickpartnership.co.uk. Alternatively, if you are a compliance or regulatory professional within financial services looking for a new role, please do not hesitate to get in touch. Book your place

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