AU
Sector: Compliance / Legal
The collapse in compliance: What a difference a year makes in a sector that was once so strong
Compliance recruitment into banks is down by at least 70 per cent compared with a year ago, according to Jacob Smith, director, JS Careers. “There are significant hiring freezes across many organisations in the market, which is a major difference to the buoyancy we saw in 2010.” And he’s not the only one who thinks [...]
Dispatches: The perils of workplace gossip
Two of Australia’s most prestigious law firms have banned a workplace gossip website after it published a series of articles criticising management and mocking staff. Both Mallesons Stephen Jaques and Clayton Utz have barred the Firm Spy site, branding it “irresponsible and inaccurate”. (Daily Telegrapgh) IOOF Holdings has talked up its proposed acquisition of the [...]
Daily Dispatches: ASIC calls for super regulator
The chairman of the Australian Securities and Investments Commission, Tony D’Aloisio, is canvassing the idea of a super securities regulator with greatly increased consumer protection powers after the fallout from the global financial crisis. (Sydney Morning Herald) Macquarie Group has pulled off a coup with the recruitment of an experienced dealmaker to manage its fast-expanding [...]
Applying to ASIC is no longer a crazy career move
Fancy working for the watchdog? ASIC is putting banking professionals at the top of its hiring hit list as it expands its regulatory power. The regulation of credit will transfer from state and territory agencies to ASIC from 1 November, with the organisation taking the regulatory reins for transactions such as home loans, personal loans, [...]
Guest Comment: the reliance on compliance
State of the market Hiring for compliance professionals has slowed within financial services in the 2008-09 period due to slower business growth and fewer new business opportunities. However, compared to other job functions, recruitment has been relatively steady, for a number of reasons. Firstly, compliance staff are commonly considered to be key employees for financial [...]
Banks battle to retain risk talent
The Big Four banks are doing all they can to keep their top risk professionals from joining competitors. And fortunately for these firms, their employees are becoming increasingly unwilling to jump ship. This all adds up to a tight employment market. Risk professionals are generally reluctant to consider other options, says Dianne Wilson, a partner [...]
Forensic accountants find their feet
The credit crunch and the threat of international fraud are bringing forensic accountants out of the shadows in Asia. These financial sector detectives are becoming an increasingly popular choice for compliance roles at banks in Hong Kong and Singapore. Hong Kong firms are hiring forensic accountants for jobs in compliance, risk and anti-money laundering, according [...]
Aussies aim for Asia as London loses its lustre
Forget London – Australians are going to Asia to snap up middle and back-office jobs. There are plenty of opportunities across a wide range of functions, says Louise Langridge, of recruiter Morgan McKinley. Risk roles are flavour of the month and demand is strong in operations (with good product knowledge) and compliance, especially at mid [...]
Having a ball with counterparty credit risk
In risky times, it’s hardly surprising that financial institutions are going to town on risk specialists – particularly counterparty risk analysts who can help them ascertain whether the hedge funds and other clients they’re doing business with are liable to go under. “There has been increased interest but it’s been hard to get really good [...]
Fighting terrorists on the financial front
Under Australia’s Anti-Money Laundering (AML) and Counter Terrorism Financing legislation, introduced in 2006, all companies have identification and reporting obligations regarding the transfer of any monies – securities, bullion, FX, insurance, superannuation, gambling, fund and bank account transfers. If money laundering’s your thing, it’s good news – jobs are on the up. Steve Ingram, partner, [...]
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