The number of people employed in both the City and the wider UK financial services industry has now surpassed the pre-crisis high. As forecasts suggest, this number will continue to rise, and considering the widespread regulatory pressure on the industry, now would seem a good time to be working in compliance. The results from a recent survey indicates that recruitment budgets in compliance are more likely to have increased than in any other area of corporate governance.
Seven years on from the financial crisis, regulators are looking to address the industry’s structure and behaviour. Within banking, retail operations will be ring-fenced, senior managers are being held more accountable and capital buffers have been expanded with bond holders, rather than tax payers, on the hook. There is also the introduction of provisions to claw back bonuses, together with a number of less high profile regulatory initiatives