Our clients talk about it, our candidates talk about it, but what is it? Laurence Simons Global Director of Research, Samantha Knowles, takes us through her vision of Compliance and what she sees as critical requirements for clients when recruiting across Laurence Simons’ key markets.
I suspect we share differing views on what we understand about Compliance versus Legal. For me, put simply: Compliance is tasked with detecting and preventing misconduct whereas Legal is tasked with advising on risk and protecting the company. Irrespective of your take on it, one view holds firm – across Europe, Compliance is no longer an option; it is a must-have. Companies located and operating across the region need to embrace, shore up and build out their Compliance offering, to align more closely with the heavy Compliance culture exhibited by many US counterparts. And rightly so.
If some EMEA based companies appear more relaxed in their approach to embracing Compliance, these stats might help switch up a gear: The European Compliance market is expected to grow to $2,554.7 million by 2018 and the Middle East and African market is expected to grow to $1,057.1 million by 2018. The pace has been set....
...and gone are the days when our clients are content to hire a Compliance Professional to develop a rules-based only compliance program. Clients’ non-negotiable recruiting requirements extend to those who will perform the role of a true business partner, who have the skills to partner with the Leadership team to ensure compliance with industry, regulatory and Group requirements, who add value to the business, who educate and influence stakeholders to help create a value-based company culture.
On a practical level, Compliance professionals must have excellent project management skills, must understand risk, be highly organised, communicate across all levels, gain trust and know how to leverage technology to enhance Compliance programs.
Over the years, we at Laurence Simons have witnessed a discernible shift from those Compliance professionals who are appointed to perform a more traditional internal policing function with the present and future emphasis being on those who are more business savvy, bigger picture thinkers and who bring legal or non-legal background and training.
Compliance will not wait, nor can it be overlooked. We are delighted to share our Compliance knowledge and experiences with you, and to help you get in shape for upcoming Compliance priorities like MIFID II, the Senior Managers Regime and GDPR.
To get in contact with Samantha, to discuss your compliance recruitment requirements or for a follow up discussion please call her on 33 (0) 4 68 718 135 on or email firstname.lastname@example.org