Opportunities in the Risk and Compliance sector

As I pen this article, we wake up to a new week under Level 3 restrictions in New Zealand and another week towards the upliftment of risk across our financial services sector. However, this area of specialism is not slowing down, and the need for skilled talent in the risk and compliance space continues to be a focus, pain point and development focus for employers.

With the added complication of restrictive borders limiting the free flow of professional talent bringing back the skills learned in mature, regulated markets to New Zealand, we see pressure on employers to look to right-sizing their remuneration and well-being packages to attract top local talent apart from their competitors. Now more than ever, employees are looking for more from their employers to better align with their values and aspirations for career progression.

Tyler Wren assists banking and financial services organisations with their resourcing requirements for top talent and supports the transformation programs across these specialist areas. The need for talent who have a change and project management mindset and demonstrated experience in this area continues to be highly attractive, especially for the larger banking organisations. Work continues in the areas directly affected by regulatory change, such as the CCCFA and Regulations amendments that due to COVID19 MBIE recently delayed to 1 December 2021, including the revised lending code.

Driving continuous improvement in relevant strategy

We have also seen a noticeable demand for governance and secretariat functions across the sector. The RBNZ is looking to organisations to uplift the quality of their governance reporting through these organisations maintaining oversight of and driving continuous improvement in relevant strategy, policy and frameworks. We are also seeing the continued need for Senior Compliance & Assurance Managers providing specialist services to support the 1st and 2nd Line nonfinancial risk teams. Roles at this level require demonstrated experience with Compliance strategy with a particular focus on developing compliance management priorities and annual plans aligning to the business vision and strategy in line with the Regulatory priorities of the organisation.

In the broader financial services sector, Compliance focusing on skills at the Compliance Adviser, Compliance Officer, and Compliance Manager level continues to be an area of growth. Compliance roles at this level are primarily responsible for supporting the business in embedding the compliance risk frameworks, ensuring appropriate identification and management of compliance obligations, risks and controls whilst supporting the organisations’ growth objectives and business strategies.

Industry chapters such as RIMS continue to be impactful in supporting the Risk Management sector. Although upliftment of skills and certification continues to be delivered, membership organisations such as ACAMS continue to be proactive in developing future leaders in the fight against financial crime.

Take your Risk and Compliance career to the next level

Our prediction on the market is that we will continue to see current trends in the shortage of talent in this sector through 2022/3. However, at this stage, we will hopefully see the easing of restrictions at the international border. Aswell as further skilled talent growth from the local sector through current transformation projects building skill sets that may be attractive to the broader sector.
Reach out to the team at Tyler Wren to discuss your current role and career aspirations, take a look at our risk and compliance salary guide. We are specialists in the Risk & Compliance jobs sector. If you are an expert in the areas that have been highlighted in this article, now is a great time for you to take your career to the next level or secure the opportunity with the right package for you. We are always available for a confidential discussion on your career plan.


Gary Bloxham on +64 (0) 9 974 9072 or gbloxham@tylerwren.co.nz    

Follow Tyler Wren @ https://www.linkedin.com/company/tylerwren.co.nz/