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US Compliance & Financial Crime Market Update – Navigating Compensation Trends

After a very active two years of hiring within the US Compliance sector, activity equalized in H2 of 2023 to a more considered pace.

While there was still momentum with interview processes and offers being made as we headed towards the end of the year, the highly competitive junior and mid-market seen in H1 was much less frenetic. Compensation is less inflated because of this, and new offers are more in line with previous market benchmarks.

Increased SEC (U.S. Securities and Exchange Commission) scrutiny of the private funds space means that hiring managers expect a surge of hiring activity next year to deal with regulatory requirements.

Work arrangements leveled out in 2023 and we now see the market norm of three days in-office for most firms. There are some outliers who require full time in-office, but they are in the minority. There are other sectors of the industry where fully remote work is standard – FinTech, RegTech, etc.

The required separation between Financial Risk and Non-Financial Risk has for most firms presented challenges in terms of the structure of their control functions. Many larger global institutions have restructured so that Compliance, Financial Crime, and Operational Risk report up together, functionally, which has often resulted in a reshuffle of senior heads within those spaces.

For our 2024 US US Compliance & Financial Crime Compensation Report:—US-Compliance-Compensation-Report-2024/c-2324-096-us_compliance_compensation_report_2024.html

For tailored solutions to your hiring needs in this dynamic US Compliance & Financial Crime market, contact Grant today. His expertise and insights can guide you through navigating the current landscape and securing the right talent for your team.

Grant Potter
Managing Director, Head of Americas