3 Key Candidate Market Trends in 2022: Compliance

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The beginning of 2022 has already provided compliance candidates with an abundance of opportunities; the market has picked up dramatically over the past year. As businesses grow, what can we expect to see during the months ahead?

Kelly-Anne Rainey, Senior Consultant of Compliance at Robert Walters, highlights the 3 key trends she feels will shape the market in 2022:

Businesses to focus more on ESG and SEAR strategies

The Senior Executive Accountability Regime (SEAR) is expected to commence this year, following the release of the wording of the General Scheme on 27 July 2021. This regime will allow for actions to be accountable by individuals where there is no action taken against a regulated firm. Essentially, employees in more senior roles will have more responsibility, and if the company is found to be fraudulent, it could potentially fall on you. It is essential to have a good knowledge of this to make sure you’re SEAR ready.

ESG is also expected to have further influence on market this year, with clients already searching for candidates that have experience working on ESG strategies and plans. If you’re looking to widen your skillset, The Institute of Bankers are offering specialized courses on ESG. Skills in this area are of high value, and we can expect it to become an integral part of every role in the future, or even become a role in itself. 

2022 role and skill demand rapidly emerging

Already in Q1 we have seen where the talent is required. Firstly, there are still numerous Fintech’s emerging into the market, meaning roles within this area are also significantly increasing. The majority of Fintech’s entering the market will not be familiar with the CBI (Central Bank of Ireland), so these roles provide great opportunity for you to create the initial policies and procedures, setting the cultural tone for the company from the outset. Fintech’s can be fast paced and have smaller teams than most firms, so are great for getting real hands-on experience.

We’re also seeing a substantial amount of Asset Management and Investment Management vacancies this year, and we expect this to continue throughout 2022. For candidates seeking to meet the requirements for these roles, a knowledge of MIFID or UCITS will be required. People with skills in these areas are in very high demand – and it’s an area of compliance which offers a lot of exciting and fast paced opportunities.

Insurance has been slow and steady, but we’re expecting it to pick up across 2022. The Big 4 have also stepped up their hiring, which offers great opportunities for people who enjoy project work and want to accelerate their careers quickly. 

Employers focusing on benefits offerings

Since the pandemic, it’s become clear that candidates in this market no longer base their job search on salaries alone. Benefits have quickly become a superior factor – and employers are acting on this accordingly. Bonuses have increased, health packages enhanced and paid annual leave days increased; clients are actively asking for recommendations on what candidates are looking for and have a lot more flexibility on what’s offered than we’ve seen a few years back. An example of this is the offering of hybrid working; around 90% of employers we are working with are offering a hybrid work model, with 2-3 days a week being based in the office

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