It is easy to forget that the economic crisis that enveloped the world in 2008 started with a bad debt malaise at the world’s biggest banks. One result of this has been an explosion in demand for compliance and risk professionals and now financial institutions in Asia are catching up with Europe and the USA.
Bank employees working in compliance and risk management in America and Europe who have their sights set on opportunities in Asia may be in luck as these sectors are seen as most immune from the coming Asian slowdown.
High demand for and a lack of supply of these types of positions mean that salaries are increasing too. An experienced expat compliance or risk management professional is able to command a salary in excess of £100 000 which can be as much as double that of a simmilar position in London or New York.
Paul Endacott, south-east Asia managing director for headhunters Ambition, said: “In the current climate, this may be a shrewd career move for a candidate to make as this scrutiny isn’t going away. These functions are on the rise and will inevitably continue to increase in exposure and influence, offering strong career platforms.”