Why Financial Crime Compliance and Regulatory Compliance talent pools will let their feet do the talking in 2025.

?? Talking toes. ??

I have never seen this before, in 10 years of recruitment there has never been a time where a mood has been unanimous across each sector.

Fintech

Banking

Buy-side

Consultancy

You are all singing the same tune to the market. It goes a little like this "la la la we are fed up, find us a new job" (its a banger). And they are singing this into the ear of every recruiter known to the market.

Why?

Well lets talk money honey. For once I am not talking about salaries - I am talking about every (what feels like) single bank having redundancies, reshuffles or rewinds back to the 90s (.. sorry sassy little opinion there.. but am I wrong?).

Redundancies have survivors. But those survivors are

a) left with survivors guilt / sour taste in the mouth

b) given bigger workloads, for the same pay

c) simply fed up... so even if they stay they "would be open to a move"

?? How do I know this? Because I spend all day chatting to these "key people" you have kept.

But this isn't the most dangerous opinion for your function. This year is different because it is your financial crime and regulatory compliance leaders, who will literally lead the charge.

The Leadership.

You know, the ones who have your back and can echo the company line?

This year they have been at the figurative coalface .... while some firms have poured oil on it ??????

Many have had:

• Less people
• Less budget
• More pressure
• More bowing to the overseas HQ gods than is reasonable.

Again how do I know this? Because I am a sneaky snake of a recruiter, and have a list of about 50 I have spoken to this year, who are simply waiting for a call about an interesting job.

Many have had their hands cut off, but still expected to bake a cake.

Don't worry - most won't move until next year when the market picks up.

Dominos and butterflies ??

Sounds like a nice day in the park - but I'm not talking pizza and bugs. I am talking come September we will have a serious number of MLRO and HOC in their new roles (some have already started moving this year), these people will start tapping shoulder and swivling heads.

VP (￡75,000 - ￡120,000) are fed up, they won't be promoted to Director this century, so of course they will move.

??All it will take is the first group of MLROs to start seriously looking in Jan (the typical time of year they come a 'knocking at my door), and then they will start their team build and poaching. A butterfly effect which keeps the recruitment wheels turning.

Why am I so sure there will be hiring in 2025?

The redundancies optics will be done. People will forget that last month Deustche Bank put 25 people in FCC corporate and investment banking at risk (True story), and instead will see all the vacancies in that team... because those who were there have decided to move on too.

I speak with a lot of fintechs, they have had a hard year in funding and growth, but are on the up and are already ramping up hiring (a quick LinkedIn jobs search will tell you that) so don't just think this will go away when banks settle down.

We are in for a bumper year next year, and it you're not holding onto talent - you'll be paying top market rate for it.

Summary

I bet you thought I'd never get to this. The market is picking up, speak to any recruiter and you will see we are a lot happier these days. At FincSelect we are almost back up to our normal workflow ??

While I love having my pick of the candidate market, I also know it is expensive, time consuming and hard (without a great recruiter....hint hint) to hire in financial crime and regulatory compliance.

The main themes outside of what I have mentioned (moaned??? ) about above:

• No clear promotion or development pathways
• No recognition (financially or otherwise) when they do pick up workloads
• Inflexibility on WFH arrangements
• Negative work environment. It has been a tough year and the English grin and bear it mentality doesn't seem to be working.

Do what you will with this insight, we are always happy to help specific benchmarking of roles against competitors, offering insights of when the best time to hire certain roles are but probably more interestingly....

We can tell you what your competitor is doing better than you for their teams.

I would love to hear your thoughts on the above and for those who have never heard of us.....our team at FincSelect are financial crime compliance recruitment specialists who don’t disappear when you sign the contract.

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