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Compliance during Covid 19 - Episode 4


3 Mins Read | 11-05-2020
Submitted by global_admin on Mon, 05/11/2020 - 04:40
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Caleb Hawkins, head of our compliance and legal desks, speaks to the Compliance Director at a Data Company.

Throughout this ‘Compliance During Covid-19’ series, Caleb interviews a number of compliance professionals and experts around the market to get their insight around the compliance market during Covid-19. 

In Episode 4, Caleb speaks with a Compliance Director at a data company.

What effect do you think Covid-19 is having on the general financial market?

Global Markets have seen downward moves since the beginning of the year, with huge drops at the end of March as the scale of the Global Covid-19 pandemic became apparent. They have recovered in part since then as impacted countries have set out the measures they are taking to safeguard their economies. Financial Markets are likely to remain volatile however until there is a global view that the pandemic is being contained.

Has covid-19 affected the compliance market from what you have seen?

In my view the Compliance market (from a candidate perspective) was already fairly challenging before Covid-19, with many strong candidates looking for their next opportunity. From an “in-role” perspective, we are busier than a month ago, delivering “business as usual” and requiring additional time to respond to covid-19 related requests from regulators.  

What effect do you think covid-19 has had on the regulation calendar?

Regulators in the wholesale market are undoubtedly re-focusing their attention to Operational Resilience as a result of covid-19, particularly in areas such as Outsourcing and Business Continuity Planning. Whether this will impact on the regulation calendar for other topics largely remains to be seen and this will depend in part on the length of time the pandemic continues. We are working on the basis that existing timelines that impact us will remain until we know otherwise; we don’t want to anticipate a delay that doesn’t materialise!

Do you see it as also affecting the next hot regulatory topics set for release?

Lessons will be learned from this pandemic that will lead to areas of regulatory change; as was seen after the 2008 financial crisis. As mentioned earlier, I do think Operational Resilience will continue to be a hot topic for the foreseeable future. Finance and Capital Management will remain high up on the agenda, alongside Cyber Security and Market Conduct.

What are your thoughts on hiring within Compliance now and also when this whole things blows over?

From a hiring perspective, we continue to fill critical roles and have a new individual joining the team (remotely) next week. For other roles, interviews are being arranged and are taking place by video; it’s a different approach that we have had to adapt to, but so far so good.

How do you continue to be relevant for the business, remotely?

As a global business, we have to work remotely with a significant number of our colleagues anyway so from that perspective there is no change. Where we would usually have face to face meetings we are using video calls to maintain interaction as best we can. We are also bringing forward some of our planned digital compliance learning; we see this as a good time to launch these initiatives and they also act as a good reminder that all Compliance obligations remain, even though we are working in a virtual environment.  




If you wish to give your thoughts or opinions on the market over these uncertain and unprecedented times, then please reach out to Caleb Hawkins at

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