SALARY SURVEY 2013 - Robert Walters Singapore

SYDNEYSYDNEYRISKMANAGEMENT,COMPLIANCE&AUDITSYDNEYRISKMANAGEMENT,COMPLIANCE&AUDITRISKMANAGEMENT,COMPLIANCE&AUDITRobertWaltersGlobalSalarySurvey2013227TheRobertWaltersspecialistbankingteamrecruitsrisk,complianceandinternalauditprofessionals.Thedivisionhasanextensivetrackrecordofsearchandcontingencyrecruitment,fromentrytoheadofdepartmentlevel.Werecruitprofessionalsacrosscompliance,fraud,anti-moneylaundering,investigations,enforcement,forensics,internalaudit,operationalcredit,marketrisk,quantitativeanalysisandfinancialplanningandadvice.MarketOverviewWesawasteadyincreaseinthevolumeofspecialistriskandcompliancerecruitmentas2012progressed.Inquarterone,employersgenerallytookacautiousapproachtohiring,withinternationalorganisationsparticularlyinactiveintherecruitmentmarketastheinternationaleconomyremainedunstable.However,wesawanincreaseinjoblevelsthroughoutquartertwoandthisdemandremainedstrongthroughouttheremainderoftheyear.Regulatoryreformandafocusonstrengtheningriskmanagementframeworkswerethetwomaintrendsthatdrovethisactivity.Withintheregulatoryspace,subjectmatterexpertswithpriorregulatoryreformimplementationandaffectingchangeexperiencewereinhighdemandfollowingsignificantchangesinthisarea.TheintroductionofBaselIII(whichaffectedtheamountofregulatorycapitalbanksarerequiredtohold)meantthatspecialistcompliance,riskmanagementandprojectmanagerswerealsohighlysought-after.Thiswasalsothecasewithinthewealthmanagementspace.IncreasedfocusontheStrongerSuperandFOFAreformsmeantthatriskmanagementandcomplianceprofessionalswithpriorexperienceinsuperannuation,financialplanningandadvicewereinexceptionallyhighdemand.Joblevelswereparticularlyhighwithindomesticbanksastheseinstitutionscontinuedtofocusonstrengtheningandimprovingtheir‘threelinesofdefence’model.Asaresult,wesawstrongdemandforinternalauditandoperationalriskspecialists.Individualswhowerealreadyintraditionalauditroleswerealsogiventheopportunitytomoveintosecondlineriskroles,meaninggapswithinauditteamshadtobefilledexternally.Mostnewhiresintheseinstancescamedirectlyfromprofessionalservicesorganisations.Movementinthemarketensuredwecontinuedtoseedemandintheinvestmentandcorporatebankingcompliancespace.However,themajorityofrecruitmentwasasaresultofkeycomplianceindividualsmovingorganisations.Wesawveryfewnewrolesbeingcreatedasfirmssoughtto‘domorewithless’.Newentrantsintothemarketandestablishedglobalcorporatebankslookedtostrengthentheirdomesticprojectfinancecapabilities.Asaresult,professionalswithpreviousprojectfinanceexperience(particularlyintheutilitiesandresourcessector)wereveryhighlysought-after.ThiswasparticularlythecasewithinChinesebanksthatwerelookingtogrowintotheAustralianmarketandutilisethestrengthoftheirbalancesheetinhelpingunderwritedeals(domesticbanksdonothavethecapitalcapabilitiesforthisatthisstage).Outlookfor2013Weexpectrecruitmentlevels,particularlywithinthespecialistareasmentioned,toremainstrongandhighqualitycandidatestoremainindemand.Therewillbeacontinuedfocusontheareasofregulatorylandscapeandthestrengthofriskmanagementframeworks.Asaresultspecialistcomplianceandriskmanagementprofessionalswithexperienceintheseareaswillremainindemand.