You are visiting this website from:

[Video] Your quarterly update on the Risk and Compliance market

Risk and Compliance market

Submitted by Anonymous (not verified) on Thu, 01/10/2019 - 09:00
Read time: 2 mins mins read
Read Time
Translation Language
Contracting Jobs
Executive Service Article
Press Releases

Welcome to your quarterly update on the Risk and Compliance market, where we provide you with insights from the previous and upcoming quarters.

What were the market trends for last quarter?

We are seeing a major demand for Risk Managers that are well versed in risk systems, data and technologies. There is a real need for managers to stay abreast of risk trends through information technology and data science to ensure they can challenge and advise the business on pitfalls, risks and issues.

What are the major skills in demand?

  • Digital Risk Specialists as a result of ongoing investment in phone apps and web portals
  • Third party risk, vendor management and supplier risk
  • Risk managers that know how to leverage insights from data exploration and modelling to enable management to make better and faster decisions based on trusted and tangible data.

What are the skill gap shortages?

Following the APRA regulatory reform, we have seen a need for technical risk specialists to be able to be commercial and consider the ‘bigger picture’ in order for organisations to regain regulatory and community trust, thereby reducing the probability of fines and regulatory interventions. 

The skills gaps for senior leaders lie in the ability to increase the pace of sustainable innovation whilst maintaining effective identification and mitigation of potential risks and issues which enables faster decision making.

What are organisations doing to attract the best talent?

Now more than ever, organisations are really promoting flexible and agile working practices, including four day working weeks and flexible working hours. There is also an emphasis on reviewing internal salary guidelines to be consistent with the market.

What is the outlook for the next quarter?

  • Bigger focus on non-financial risk and retention, rather than accounting-based risk reward. This is following the commentary by APRA of the need for there to be consideration of “the voices” e.g. all stakeholders, not just the shareholders. There will be a focus on sourcing Risk Managers who can quantify these risks to senior management going forward.
  • There will be a bigger emphasis on implementing risk frameworks to ensure customers' money is protected through online banking platforms and new currency investments. 

Top roles in demand in Risk and Compliance

  1. Technology Risk with a focus on cyber risk
  2. Specialist Risk Managers (such as Supplier Risk or Data Risk)
  3. Analytical risk leaders with persuasive and engaging stakeholder engagement skills

Maria Konstantinou | Business Manager, Risk Management & Compliance

2021 Salary Guide Calculator

Compare salaries across different locations, industries and areas of expertise.

Find Salaries Find Salaries

Helping Your Business Adapt

Resources to help your business quickly react during challenging times.

Boost Agility
Get In Touch
Fill in your details in the form below and we will be in touch to discuss your hiring needs!
Submit your Healthcare Staffing Request
- Request a Free Consultation Today -
This is a required field
Enter First name
Enter Last name
Enter Your Email
Enter Phone number
Enter valid phone number