New SEEK data reveals that in the last five years adverts for compliance and risk jobs have increased by 122 per cent in the banking and finance sector.
In the past twelve months there was an increase of 48 per cent and currently 13.5 per cent of banking roles on SEEK are in compliance and risk.
There is still a shortage of candidates to fulfil the advertised compliance and risk jobs in areas through NSW, Brisbane and Perth.
ANZ managing director Kendra Banks said she expected to see an increase in candidates looking for these roles over the next year.
“Compliance and risk job roles require an extremely niche skill set which can vary across different industries. Therefore, it can be hard for recruiters to find the right person for the role, or for candidates to even know that these roles exist outside of Finance and Banking institutions,” Ms Banks said.
The announcement of the royal commission by former prime minister Malcolm Turnbull was the start of the decline in financial planning roles and the start of dramatic growth for compliance and risk roles.
Charterhouse manager in financial services Corey Babich said it was not surprising that compliance and risk roles had seen a dramatic improvement over the past few months.
“The royal banking commission in Australia over the last year has led to a direct increase in compliance and risk roles being mandated by clients across all sub-segments of the Financial Services and Insurance sectors.”
Overall, there has been a 1 per cent rise in banking and finance roles compared to the same time last year but certain areas, like financial planning and branch job adverts, are falling.
