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SALARY SURVEY 2013 - Robert Walters Singapore

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DUBLINDUBLINDUBLINCOMPLIANCECOMPLIANCEMarketOverviewDemandforcomplianceandregulatoryprofessionalsremainedhighthroughouttheyearwithhiringtakingplaceatthejunior(2+years),midand‘headof’levels.Therewasincreasedcandidatemovementandreplacementhiring.Newpermanentandcontractroleswerealsoestablishedasemployerssoughttomeetregulatoryobligationsandrestructureinternally.Hiringoccurredpredominantlywithinthebanking,insurance,fundadministration,stockbroking,wealthmanagementandprofessionalservicessectors.AsignificantnumberofrolesreleasedwerewithinPre-approvedControlledFunction(PCF)functions,whichprovidedexcellentopportunitiesforcandidatesseekingtomoveatthemidtoseniorlevel.Thesepositionswereamixofnewandreplacementroles.Formostroles,employerssoughtprofessionalswithanin-depthknowledgeofindustry-specificregulation.Withinbanking,experienceinterpretingandworkingwiththeCodeofConductonMortgageArrears,theConsumerProtectionCode,AML-CTFlegislationandtheCentralBankofIreland’sprudentialguidelinesweresignificantlyindemand.DespitedelaystotheSolvencyIIimplementationdate,itcontinuedtodominateinsurancerecruitment.Anin-depthknowledgeofAMLanddataprotectionobligationsprovednecessaryrequirementsforhiringorganisationsinthelifesector.ForfirmsregulatedunderMarketsinFinancialInstrumentsDirective(MiFID),practicalexperienceworkingwithMiFIDwasessential.TherewasincreaseddemandforcandidateswithknowledgeoftheCapitalRequirementsDirective(CRD)andInternalCapitalAdequacyAssessmentProcess(ICAAP).Themarketforcompanysecretariesimprovedsignificantlywithvacanciesarisingpredominantlyinprivatepracticeandfundadministrationorganisations,largelyresultingfromincreasedmovementinthemarketandmaternitycontractcover.Mostdemandwasforprofessionalswith3-5years’experiencelevelandICSAqualificationsweresought-after.Alimitednumberofin-houserolescametomarketforthesepositions,employerssoughtpriorin-houseexperience.Salariesgenerallyremainedstable.Partlyinfluencedbythis,mostjobseekersmovingrolesweremotivatedbyimprovedcareeropportunitiesandtheoverallbenefitspackageonoffer.Outlookfor<strong>2013</strong>Weanticipatethatdemandforcomplianceprofessionalswillremainstrongin<strong>2013</strong>ascompaniescontinuetorestructureandrequireadditionalresourcestopreparefornewandamendedregulations.Wepredictthatmid-to-seniorlevelcandidateswithprovencomplianceexperiencewillremainsought-afterthroughout<strong>2013</strong>.Weexpectthatorganisationswilllooktohireexperiencedprofessionalstoleadcompliancedepartmentsastheygrowanddevelopinresponsetochangesanddevelopmentsintheregulatoryenvironment.COMPLIANCEROLEPERMANENT<strong>SALARY</strong>PERANNUM€2012 <strong>2013</strong>HeadofCompliance €110-130k €100-130k+SeniorComplianceManager(5-8yrs'exp) €70-90k €70-90k+ComplianceManager(3-5yrs'exp) €40-70k €45-70kComplianceAssistant(1-3yrs'exp) €25-40k €30-45kComplianceAdministrator(0-1yrexp) €22-28k €25-30kCompanySecretarialCompanySecretary(5-8yrs'exp) €55-60k €55-75kICSAPart-Qualified/Qualified(3-5yrs'exp) €35-60k €40-55kICSAPart-Qualified/Qualified(1-3yrs'exp) €25-40k €25-40kTraineeLevel €22-28k €22-28kNB:Figuresarebasicsalariesexclusiveofbenefits/bonusesunlessotherwisespecified.75<strong>Robert</strong><strong>Walters</strong>GlobalSalarySurvey<strong>2013</strong>

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