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2019 Compliance and Risk Salary Guide

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20-12-2018

Submitted by global_admin on Thu, 12/20/2018 - 14:43

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2019 Salaries for Compliance professionals such as KYC Manager, Head of Data Governance & Operational Risk Analyst

Contents:

Compliance
Risk Management
Commentary on Risk and Compliance Roles and Remuneration in Ireland for 2019
2019 Workplace & Hiring Trends Survey

Compliance Salaries (€)
	Dublin	Cork	Limerick	Waterford	Galway
Compliance Assistant

Low	25,000	25,000	23,000	23,000	23,000
High	45,000	40,000	38,000	38,000	38,000
Average	35,000	35,000	34,000	34,000	34,000

Head of Compliance

Low	90,000	80,000	75,000	75,000	75,000
High	180,000	150,000	130,000	120,000	130,000
Average	130,000	100,000	80,000	80,000	80,000

Compliance Manager

Low	65,000	55,000	50,000	50,000	50,000
High	100,000	85,000	80,000	80,000	80,000
Average	85,000	75,000	65,000	65,000	65,000

Compliance Officer

Low	40,000	35,000	28,000	28,000	28,000
High	60,000	55,000	50,000	50,000	50,000
Average	55,000	45,000	39,000	39,000	39,000

AML Analyst

Low	25,000	25,000	23,000	23,000	23,000
High	45,000	45,000	40,000	40,000	40,000
Average	35,000	35,000	32,000	32,000	32,000

Head of AML

Low	80,000	65,000	60,000	55,000	60,000
High	175,000	120,000	100,000	95,000	100,000
Average	100,000	80,000	65,000	60,000	65,000

AML Manager

Low	65,000	50,000	50,000	50,000	50,000
High	90,000	80,000	80,000	80,000	80,000
Average	70,000	60,000	60,000	60,000	60,000

DMLRO

Low	75,000	55,000	50,000	50,000	50,000
High	110,000	100,000	75,000	75,000	75,000
Average	85,000	80,000	60,000	60,000	60,000

MLRO

Low	80,000	40,000	35,000	35,000	35,000
High	150,000	80,000	65,000	65,000	65,000
Average	100,000	60,000	55,000	55,000	55,000

Financial Crime Officer

Low	40,000	35,000	23,000	23,000	23,000
High	75,000	45,000	42,000	42,000	42,000
Average	65,000	40,000	33,000	33,000	33,000

KYC Analyst

Low	32,000	28,000	26,000	26,000	26,000
High	45,000	40,000	40,000	40,000	40,000
Average	38,000	35,000	32,000	32,000	32,000

Head of KYC

Low	80,000	65,000	60,000	55,000	60,000
High	175,000	120,000	100,000	95,000	100,000
Average	100,000	80,000	65,000	60,000	65,000

KYC Manager

Low	65,000	55,000	50,000	50,000	50,000
High	90,000	85,000	80,000	80,000	80,000
Average	70,000	70,000	60,000	60,000	60,000

Risk Management Salaries (€)
	Dublin	Cork	Limerick	Waterford	Galway
Head of Risk

Low	120,000	114,000	110,000	108,000	110,000
High	200,000	190,000	184,000	180,000	184,000
Average	150,000	143,000	138,000	135,000	138,000

Risk Manager

Low	70,000	67,000	64,000	63,000	64,000
High	100,000	95,000	92,000	90,000	92,000
Average	85,000	80,000	78,000	75,000	78,000

Market Risk Analyst

Low	55,000	52,000	51,000	50,000	51,000
High	75,000	71,000	69,000	68,000	69,000
Average	65,000	62,000	60,000	59,000	60,000

Head of Market Risk

Low	80,000	76,000	74,000	72,000	74,000
High	150,000	143,000	138,000	135,000	138,000
Average	110,000	105,000	101,000	99,000	101,000

Market Risk Manager

Low	60,000	57,000	55,000	54,000	55,000
High	90,000	86,000	83,000	81,000	83,000
Average	70,000	67,000	64,000	63,000	64,000

Operational Risk Analyst

Low	35,000	33,000	32,000	31,000	32,000
High	50,000	48,000	46,000	45,000	46,000
Average	45,000	43,000	41,000	40,000	41,000

Operational Risk Manager

Low	60,000	57,000	55,000	54,000	55,000
High	90,000	86,000	83,000	81,000	83,000
Average	70,000	67,000	64,000	63,000	64,000

Business Continuity Manager

Low	70,000	67,000	64,000	63,000	64,000
High	120,000	114,000	110,000	108,000	110,000
Average	85,000	81,000	78,000	77,000	78,000

Quant Analyst

Low	65,000	62,000	60,000	59,000	60,000
High	110,000	105,000	101,000	99,000	101,000
Average	80,000	76,000	74,000	72,000	74,000

Credit Analyst

Low	30,000	29,000	28,000	27,000	28,000
High	50,000	48,000	46,000	45,000	46,000
Average	40,000	38,000	37,000	36,000	37,000

Credit Risk Analyst

Low	30,000	29,000	28,000	27,000	28,000
High	50,000	57,000	55,000	54,000	55,000
Average	40,000	38,000	37,000	36,000	37,000

Head of Credit Risk

Low	120,000	114,000	110,000	108,000	110,000
High	180,000	171,000	167,000	162,000	167,000
Average	150,000	143,000	138,000	135,000	138,000

Commentary on Compliance and Risk Roles and Remuneration in Ireland for 2019

Compliance

As 2018 unfolded, we had some idea that Brexit would impact the financial services sector in Dublin but little clue that it would impact so immediately.

From a compliance perspective, the PCF-12 (Head of Compliance, Chief Compliance Officer) became a very important role to fill for many of the entities that were looking to set up or build out their functions in Dublin. The CBI was (and is) very busy with fresh applications for these new / evolved entities building out in Dublin and as a part of this required the PCF-12 role to be filled by a very competent person on site in Dublin.

The trickle effect of this initial demand has impacted the local market greatly from a number of perspectives, salary inflation being the main market reaction. Also, the teams being set up affected various levels across compliance functions - compliance monitoring, AML / MLRO, generalist compliance professionals were and are all in demand.

The main sector affected has been banking where many of the applications through the CBI sit. However other sectors have also looked for this talent on the back of increased activity and Brexit style recruitment, including payments and asset management.

From a pure regulatory perspective - MIFID & the 4th directive have impacted the search for talent much like GDPR did in late 2017 and into early 2018. Anyone with this exposure is in high demand either from a contract or permanent perspective. We have also seen an increase in the demand for contractors in this space to fill the gap required within teams desperate for talent. The momentum continues into 2019 with no visibility of a slow down as of yet.

Risk

Much like compliance, Brexit impacted risk across all specialisms throughout 2018 and is continuing on the supply of local talent. The risk space across - quants / modelling, credit risk (wholesale & retail), market risk, operational and enterprise risk - are all in high demand within the Irish market.

Within risk, organisations are having to go abroad to seek talent as well as take from the existing talent pool based in Dublin. It is a healthy and vibrant market currently but on the brink of needing to seek talent from abroad especially for quants type professionals or market risk professionals - where local experience is almost at it’s full saturation.

The three lines of defence model is firmly embedded in regulated organisations and this has lead to an ever increasing evolution of experience in the risk space. Operational and enterprise risk continues to be in high demand across all risk teams.

Again we see the momentum continuing into 2019 but it's very difficult to see past the next 6-12 months. However, it is fair to say that this level of recruitment will more than likely not continue for much longer as the pace has been frenetic on the back of exceptional circumstances.