Where are all the best compliance jobs?

With compliance remaining a must-have function of the business, especially in the banking and finance sphere in light of tougher regulatory expectations, knowing where to look for the best compliance jobs is information every discerning candidate should have at their disposal.

While compliance jobs are certainly in healthy supply globally, Asia is perhaps the top of the heap when it comes to where candidates should be focusing their search for the best compliance jobs, with Hong Kong banks responsible for the largest number of compliance jobs across the board. Investment banks, hedge funds, asset management companies, brokerage firms and financial services firms are the ideal place to focus your search for the best compliance jobs.

The Asia Pacific and Australasia regions are witnessing the rise of the private banking sector which is proving itself a hotbed of opportunity for compliance professionals. Corporate banking and investment banking compliance specialists are still in demand, though private banking is greatly ramping up its compliance personnel.

In Asia, fintech start-ups are another lucrative platform for compliance opportunities, with Singapore, Hong Kong and Australia prime locations for this area of compliance. As such, candidates with experience in digital media and technology will be at an advantage in securing compliance jobs within the fintech space. Candidates wishing to enter these types of compliance roles should ensure to stay informed of both the changing product suite being offered by start-ups as well as how regulations are adapting and engaging with this area of the finance sector.

For compliance jobs in Asia Pacific, candidates should be aware of the preference for specialists so becoming an expert in one area of compliance, for example financial crime compliance, is a good move towards securing a job in the APAC region. Undertake opportunities for further training wherever possible, as banks within Asia Pacific want to get their hands on and keep hold of strong compliance talent rather than having a rotating door for routinely recruiting new staff. Employers are looking for candidates with a strong understanding and knowledge of equities, FICC, IBD, control room processes and AML, anti-bribery and corruptions and sanctions.

Network internally; banks want to see that their compliance professionals are not only a cultural and functional fit within the firm, but are also able to add further value to the business through their ability to influence key stakeholders. Stay abreast of regulatory changes, as you will almost certainly be expected to come up with a solid response to questions on the subject during interview. In addition to knowledge around regulations, policies and procedures, which are undoubtedly on a hiring manager’s wish list, compliance professionals should also note the additional expectation of quantitative skills in today’s complex compliance function.

It should be said that there is not necessarily one strict route into a career in compliance and a law degree is not a prerequisite, rather employers are looking for candidates who have completed a bachelor’s degree in either maths, economics, decision sciences or general business management, preferably with some additional accounting qualifications to bolster their credentials. Furthermore, the best entry-level compliance jobs begin in a back office support role, such as within operations, controls or back office support at a broker-dealer or bank.