Snapshot market update Q2 2014

Financial services policy, regulatory affairs and public affairs
The ever changing regulatory landscape in financial services has seen an extremely buoyant recruitment market in the first half 2014. Global regulatory changes have meant financial services firms have had to beef up their core public policy and regulatory affairs functions in order to be able to influence government, HM Treasury, Bank of England, Financial Conduct Authority and the European Commission on key regulatory issues which are likely to affect them.
Firms have not been the only organisations recruiting into the public policy space in 2014. Both the Bank of England (and its prudential regulator the Prudential Regulation Authority) and the Financial Conduct Authority have seen heavy recruitment activity. Firstly, this has been down to natural attrition; secondly and more importantly, it’s a result of firms approaching the policy teams within the regulators. Firms want an in-depth understanding of regulatory policy issues and how the regulator and European Commission work.

Themes in 2014

  • Regulatory policy specialists are moving into compliance roles. Compliance roles offer of a broad spectrum of work and better remuneration package.
  • Public affairs agency staff are moving into pure policy roles in both regulators and firms. Direct experience of policy-making at a policy-making body can add value to a CV.
  • Regulatory affairs is becoming a separate area within firms. These firms have grown to see that traditional compliance staff do not necessarily have the skills to engage and influence the regulators.

Key policy recruitment areas

Prudential banking, conduct banking, payments, markets, consumer and consumer credit, insurance (life and pensions)
If you are an established policy or public affairs specialist who works in financial services and are either hiring or looking for your next move, contact Kas Rothwell, operating director at Michael Page Policy.
T: 020 7269 2494