The Robert Walters Global Salary Survey for 2017 contains recruitment market updates, hiring advice and benchmarks salaries across our global markets.
Here we discuss the outlook for the compliance sector in Ireland.
Increase in senior level hires in 2016
The compliance market was buoyant in 2016, with particular demand for professionals with experience in AML and financial crime, conduct risk, AIFM, MiFID II, MiFIR, regulatory risk, consumer protection and data protection. This was attributable to the continued focus on the financial services sector from local, European and US regulators.
Counter-offers and revised offers were frequent in the market as organisations sought to attract and retain specialist knowledge.
There was a significant increase in the number of senior level placements in 2016 as increased candidate movement in the market resulted in ongoing replacement hiring. Key developments in 2016 included the redefining of the role of MLRO within compliance, a greater focus on conduct and ethics, an increased emphasis on cyber security and the growing potential of ‘RegTech’. We witnessed a steady increase in recruitment for temporary and contract compliance roles, particularly in relation to AML and financial crime remediation projects, regulatory risk and data protection, a trend we expect to see continuing in 2017.
Professionals return to Ireland
Suzanne Feeney, Director of Legal, Compliance & Financial Services for Robert Walters Ireland said: "In 2016 we experienced a strong movement of ex-pats returning from Australia and the UK. This is having a positive impact on the availability of skills in compliance with many holding professional accounting and legal qualifications and strong regulatory experience in a variety of financial services firms."
Salaries increased for professionals with four to eight years’ experience mainly due to the high demand for professionals at this level. As a result, counter-offers and revised offers were frequent in the market as organisations sought to attract and retain specialist knowledge, a trend we expect will continue in 2017.
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