The financial services sector has a rising headcount, with the first quarter of this year having the strongest rate of growth known in the last 15 years. Banks, building societies and insurers are set to create jobs at the fastest pace in a quarter of a century, and this is due to the high demand for compliance officers.
Whilst the regulatory landscape has stabilised in recent months there is still a lot of work to do when it comes to compliance, making it the most sought after skill in London. Banks are starting to accept the need for internal regulatory controls rather than seeing them as a break on future growth, and the demand for compliance experts is expected to continue at a record high.
The CBI and PwC said that the number of jobs in Britain’s financial services sector swelled by nearly 10,000 in the final 3 months of 2013 and they expected employment to jump by a further 15,000 in the first quarter of this year. The unemployment rate is expected to fall from 7.4% to nearly 7% which is the Bank of England’s official target.
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