As regulatory demands become more complex and technology and cybersecurity challenges grow, hiring compliance professionals in the financial services industry has never been more critical. With 91% of companies planning to implement continuous compliance in the next five years, businesses will need top talent to stay ahead.
At Godfrey Group, we’ve witnessed how bringing the right compliance professionals on board can significantly impact an organisation’s success. Whether you’re aiming to hire a compliance officer, analyst, or manager, here are three key tips to help you attract and secure top talent in the field.
1. Prioritise Regulatory Knowledge and Analytical Skills
From entry-level compliance jobs to senior positions like compliance managers and chief compliance officers, it’s crucial to find candidates with strong regulatory knowledge. The financial services industry is tightly regulated, and any lapse in compliance can lead to hefty fines, legal issues, and reputational damage.
But knowledge alone isn’t enough—the ideal candidate must also possess sharp analytical skills. Compliance officers must be able to quickly interpret and respond to regulatory changes while evaluating their potential impact on the business.
What to Look For:
Look for candidates who demonstrate a track record of regulatory expertise, ethical awareness, and problem-solving abilities. A compliance analyst or compliance specialist with experience interpreting complex regulations and applying them to real-world situations can be a valuable asset.
2. Seek Strong Communication and Relationship-Building Skills
Compliance professionals don’t just need to know the rules—they must be able to communicate them effectively across all levels of an organisation. Whether they’re briefing the board, liaising with regulators, or working closely with internal teams, strong communication and relationship-building skills are essential.
At Godfrey Group, we’ve noticed that the most successful compliance managers and chief compliance officers excel at fostering a culture of compliance. They’re not only adept at interpreting regulations but also skilled in educating and engaging others, ensuring that compliance is viewed not as a hurdle but as a value-add to the business.
Why This Matters:
Building trust and credibility with both internal and external stakeholders is crucial. Professionals who can establish solid relationships with regulators, industry bodies, and board members can provide valuable insights and help mitigate potential compliance risks before they escalate.
3. Foster a Compliance-Driven Culture
Creating a compliance-driven culture is key to attracting top talent in today’s competitive market. In our experience, embedding compliance into the core of your business operations sets your organisation apart and draws in professionals who value integrity and accountability.
A critical part of this strategy is investing in the right technology. While 84% of organisations produce compliance reports, only 47% have a fully integrated monitoring system, according to KPMG. Tools like automated monitoring and data analytics can enhance compliance processes, minimise human error, and enable your team to focus on strategic initiatives.
How to Make Compliance a Priority:
- Promote a compliance-first mindset by integrating compliance into all aspects of your business and highlighting its importance to your success.
- Invest in advanced compliance technology and provide adequate training to ensure it’s used effectively.
- Emphasise your commitment to compliance in job postings and interviews to attract candidates who align with your values.
Why You Need a Skilled Compliance Manager on Your Team
Services such as banks, insurance companies, and wealth management firms greatly benefit from strong compliance management. With strict regulatory requirements around data protection, anti-money laundering, and consumer rights, having dedicated compliance officers, analysts, and managers is essential to prevent legal issues and maintain customer trust. A robust compliance function not only safeguards your organisation’s reputation but also fosters a culture of integrity and accountability, ultimately driving business growth.
Find the Right Compliance Professionals with Godfrey Group
Hiring the right compliance professionals, whether it’s a compliance officer, compliance analyst, or compliance manager, is crucial for strengthening your organisation’s ability to navigate regulatory challenges, protect its reputation, and support growth. Focusing on regulatory knowledge, communication skills, and a compliance-driven culture will help you attract and retain the best talent for your business.
As a compliance recruitment agency, we specialise in finding the best candidates for compliance roles. Contact Godfrey Group today on 02 8004 9350 to discover how our compliance recruiters can help build your compliance team.
