Risk & compliance market update

We asked Chris Martin from the Auckland office “What is happening in the Risk & Compliance sector right now and what you should do to adapt to it?”

Here’s what he said:

“Prior to COVID-19 a number of our clients suggested there was a 500 person shortage of Risk and Compliance candidates across Financial Services. NZ has been behind many international markets in terms of industry regulation and a raft of catch-up legislation and amendments have triggered a wave of work.

The FMA and other regulators have offered some delays around the legislative deadlines – however there is still a huge amount of work for many teams with hiring managers short of resource. With less immigration and few redundancies – it’s hard to see this shortage reducing anytime soon. Unfortunately many corporates have instituted hiring freezes putting pressure on their existing staff. There is a chance to work around these freezes with special sign-off – mainly for senior roles. 

Now is actually a good time to keep proactive with your job hunting and ensure you are networking and keeping on-top of the roles being advertised. There are some great opportunities particularly in medium sized organisations who have not quite built their Risk and Compliance teams yet. Keep positive. If your job hunting is a challenge the market is starting to pick-up and you never know when a conversation could lead to a future opportunity. The medium to long term future of the industry is bright.”

This insight was provided on 29 June 2020