Today's Chief Compliance Officer
Updated: Jul 23, 2021
Executive search firm Charles Sterling Group, LLC recently recruited an Investment Director/Client Portfolio Manager for a multi-billion global asset management company.
Hiring Trends & Evolution of Roles:
Today’s compliance executives are required to have a broader skill set and leadership capabilities.
Skills include transformational experience; keen business acumen; strategic vision; tactical approach; and competencies across risk, audit, operations, and technology.
As the Compliance function has moved out of the back office, Chief Compliance Officers must have the presence and gravitas to actively engage with business leaders and regulators.
In the current environment, Chief Compliance Officers are tasked with balancing ongoing responsibilities with new regulatory demands creating internal resource and cost pressures.
Increased regulatory demands have resulted in the reorganization, and increased segmentation of the compliance function, creating compliance roles that require specialized expertise with a global understanding of financial trends.
The increased regulation and segmentation of the compliance function has been the catalyst for new job growth in Financial Services.
Trends in Compensation:
The structure of compensation is a combination of base and discretionary bonus.
Total compensation packages have been trending up in recent years as the compliance function has gained visibility and been technically redefined.
On average, banking organizations are deferring a larger portion of bonus than mutual fund companies. Some organizations are pushing as much as 100% over four years versus a fully funded bonus pool with share grants consistent with the four-year average.