In line with our commitment to keep professionals and hiring organisations involved in compliance functions up to date with employment and recruitment trends, in May 2014 Morgan McKinley conducted an international survey of its consultants in eight regions.
Here is the outlook for compliance recruitment in Shanghai
Overall the market has become very buoyant and we expect further improvement in the second half of 2014. Compliance professionals are gaining in profile, especially in financial services but increasingly in commerce and industry too – and this means exciting and challenging times ahead.
The importance of regular contact
“In general, compliance professionals tend to stay in a job for a reasonable period as this is a requirement of the regulators. But there is still a relatively small number of people working in this discipline, which means that when there is a change at the senior level of a major bank it can get like musical chairs, with lots of people starting to move,” says Rio Goh, Country Head, China at Morgan McKinley.
There has been no discernible change in recent months, with the focus on replacement headcount. Financial crime and AML are important growth areas, alongside regulatory change. As well as financial services (in particular commercial banking) we are seeing recruitment activity in the pharmaceutical, life sciences, biotechnology and medical devices sectors.
You have to stand out as a candidate with good technical knowledge and the ability to work effectively with non-compliance specialists to add business value
One of the challenges for many hiring organisations is that candidates are very cautious. They care about stability and reputation. Therefore they would nearly all like to work for a bank that already has a very strong.
Salaries & Benefits
We anticipate that salaries will continue to increase at an annual rate of 10-15% with bonuses likewise remaining stable at between one and four months of annual salary.
- View the full Global Trend Report Compliance H1 (Jan - Jun 2014) download