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New regulations in Singapore are causing “unprecedented” demand for compliance experts, new research by recruiter Robert Half shows today. While the salaries of some roles have remained static, credit risk, compliance and risk management professionals can command healthy increases in their salary levels this year.
The research is based on actual placements and insights from Robert Half’s recruiting managers as well as a survey of 300 CFOs and finance directors in Singapore.
It found that regulatory change remains on top of the mind of finance experts in all industries as companies struggle to generate profits while complying with regulations on anti-money laundering, privacy, Solvency II, Basel III, FATCA and corporate governance.
Stella Tang, director of Robert Half Singapore, said the surge in new regulations is driving a boom in demand for risk, regulatory and compliance professionals.
“In the last 12 months we have seen a 50% growth in demand for risk and compliance professionals in the financial services industry, and an 80% rise in demand from companies in commerce and industry,” she said.
“The level of demand for risk and compliance specialists is unprecedented and directly mirrors the explosion in new regulations. Companies are battling to recruit professionals with the right skills in order to keep ahead of the changes.”