Financial Services, Compliance 2012 Salary Guide

David Leithead 09.01.2012

Compliance

Permanent

There was a strong appetite to hire experienced compliance professionals throughout 2011, with a number of seasoned professionals receiving multiple offers.

Availability of roles was high, although there was a slight dip in the second half of the year. Front office compliance, in particular was a key area of hiring for a number of banks throughout the year.

Later in the year, issues in the eurozone impacted the entire financial services sector and caused some compliance functions to put growth plans on hold and focus mainly on key hires.

The control room has seen active hiring, with some senior movements taking place, and a number of control room specialists moving into IBD advisory roles.

Anti-Money Laundering (AML), financial crime and Know Your Client (KYC) / on- boarding have been similarly active and this should continue until the end of 2012.

Professionals at the more senior end of the market have seen the largest increases in salaries. This may continue, as most institutions have indicated this is an area in which they will be investing so we expect the market to remain strong in 2012.

 

BASIC SALARIES (PER ANNUM)

Role Analyst / 0-2 years AVP / 2-5 years VP / 5-7 years Director / 7-10 years MD / 10+ years
KYC / On-boarding Analyst £28k - £35k £36k - £42k £43k - £58k £59k - £98k *
Monitoring & Surveillance £36k - £45k £46k - £55k £56k - £72k £73k - £95k £96k - £150k
Control Room £30k - £38k £39k - £46k £47k - £68k £69k - £100k £101k - £150k
Central Compliance £33k - £41k £42k - £51k £52k - £68k £69k - £108k £110k - £160k
Compliance Advisory (Front Office) £40k - £53k £54k - £69k £70k - £100k £101k - £140k £141k - £180k

*Typically, these roles do not exist at this level

 

Temporary

The compliance temporary jobs market maintained a strong level of recruitment activity in 2011 as firms felt the pressure to provide more information to regulatory bodies.

Investment in these areas looks set to continue leading to increased hiring in the coming months. Know Your Client (KYC) and Anti-Money Laundering (AML) were the busiest areas for the compliance contract market with analysts in demand across a wide variety of organisations.

Overall, there has been a decrease in the number of temporary job opportunities in the market and day rates are being driven down. However, this has not deterred experienced candidates from moving into the contract market as Morgan McKinley registered its largest number of temporary candidates in a year in 2011.

Demand at the senior end of the market continued, with many advisory professionals moving into contract roles. This has enabled them to command the highest rates, especially those with strong product knowledge and niche skills such as second languages.

 

RATES (PER DAY)

Role Analyst / 0-2 years AVP / 2-5 years VP / 5-7 years Director / 7-10 years MD / 10+ years
KYC / On-boarding Analyst £150 - £250 £250 - £350 £350 - £400 £400 - £450 £450+
Monitoring & Surveillance £150 - £250 £250 - £300 £300 - £350 £350 - £450 £450 - £600
Control Room £200 - £300 £300 - £350 £350 - £400 £400 - £450 £450 - £550
Central Compliance £150 - £250 £250 - £350 £350 - £450 £450 - £600 £600+
Compliance Advisory (Front Office) £200 - £300 £300 - £400 £450 - £550 £550 - £650 £650 - £800

 

David Leithead's picture
Chief Operations Officer UK
dleithead@morganmckinley.co.uk