Financial Regulations Bring New Challenges: Hiring Compliance Officers

A recent article on Fortune looked at hiring for Compliance Officers in the wake of changing regulations, including Dodd-Frank and pending Volcker legislations. We thought we would look at the trend of job postings, skills required, and how hard-to-fill these job openings are.

In the past 60 days, more than 300 financial services firms have posted a total of 1,200 job ads for Compliance Officers across the US. This is a 49% increase compared to the same 60-day period in 2011. With the increasing regulations affecting banks and other financial services companies, seeing this increase in specialized hiring is not too much of a surprise.

Hiring Demand for Compliance Officers - 4 Year Hiring Trend

Hiring Demand for Compliance OfficersSource: WANTED Analytics
In addition, it may not be too surprising that New York, Dallas, and Chicago lead the US in hiring demand for these professionals. Recruiters in these 3 areas are likely to see challenges with sourcing enough candidates to fill job openings and will compete heavily for qualified talent. Our Hiring Scale™ shows that employers in New York City are seeing some of the most difficulties and longest time-to-fill. Here, job ads stay online for more than 6.5 weeks, about 1 week longer than average.

Hiring Scale for Compliance Officers - New York, NY (Hard-to-Fill)

Hiring Scale for Compliance Officers in New York
Source: WANTED Analytics

Some of the commonly required skills listed in online job ads for Compliance Officers include:

  • Microsoft Office
  • Compliance testing
  • Microsoft PowerPoint
  • Internal audit
  • Microsoft word
  • Audit management
  • Portfolio management
  • Transaction processing
  • Microsoft Project
  • Microsoft Access
  • Microsoft Excel
  • Microsoft SharePoint
  • Legal research
Some of the most demanded certifications for these candidates include:
  • Certified Public Accountant (CPA)
  • Certified Internal Auditor (CIA)
  • Certified Fraud Examiner (CFE)
  • Chartered Wealth Manager
  • Chartered Financial Analyst (CFA)
  • Juris Doctorate Degree
Are you recruiting for Compliance Officers? Try our online Hiring Scale™ to see how easy- or hard-to-fill these jobs will be in your area, average salary information, who you are competing with for talent, and where to find hidden candidates.