For financial institutions, increased regulatory scrutiny has not only challenged long-standing compliance practices, it has tested some core notions about how to find and hire the best talent.
Today, as banks move to strengthen their compliance functions and avoid costly penalties, many are restructuring their overall risk management processes, and most are actively hiring. In this competitive environment, banks of all sizes are finding that their standard recruitment and hiring procedures are simply not up to the task, and they are seeing the need for a new approach based on job market realities and the specialized nature of compliance work itself.
