Category Archives: Careers

The Rise of the Legal Compliance Sector

All the recent scandals in the financial world, such as PPI, LIBOR and Rate Swaps etc have had a big impact – not just for the financial institutions and the customers affected, but for the economy too.  Besides the millions that have been exchanged in compensation payouts, costs and fines, there are the changes that have emerged from the change in views towards financial institutions and their employees. New rules, regulations and regulators such as the Financial Conduct Authority (from the ashes of the Financial Services Authority) and the Prudential Regulation Authority are now in place, and there has been a real shift in focus for many finance related businesses to not only running their businesses and making a profit, but running them in the correct way too.

Hence the recent rise in what was once the more modest compliance sector and the emergence of compliance as a career path in its own right.  Graduate schemes specifically in compliance began a few years ago, though many to the sector are those who have made a move from careers in banking, accounts, audit, and indeed, law.

Those with legal education and experience are particularly able to demonstrate the skills needed for the compliance profession – namely the ability to read, understand, analyse and apply complex legal and regulatory documents. Precision is key in this field as the consequences of errors can be vast, therefore workers in compliance must be technically competent and highly skilled in a business environment too.

Despite the cutbacks that many employers are making since the recession in terms of investment and employees, compliance is the sector that is tending to withstand such pressures.  Banks in particular are reinforcing their compliance departments and raising standards, with hedge fund roles and insurance based roles showing particularly high rates of employment growth.  Salaries are likewise often withstanding the pay freezes with many who work in compliance expecting a pay rise this year – a true testament to the importance of what their role brings.

The future also looks bright for the legal compliance sector.  Recruitment agency Randstad note the growing trend in vacancies available for compliance roles, stating a prediction of more than 30,000 new jobs by the end of this decade. Compliance could definitely prove to be a promising career indeed for those with the right qualifications and skills.

Using a Recruitment Agency to Find a Legal Job in a Difficult Economy

Economists are currently warning that the United Kingdom may slip into a trip dip recession. This would be a serious concern for many people looking for new work. Prospective lawyers are not immune to the challenges job seekers face during a tough economy. However, you can still find a good legal job if you take the right steps.

Here are some tips that you can follow when looking for a new legal job

Consider visiting a recruitment agency to see if they can help you out. They provide a number of great services for anyone looking for work. They can negotiate with potential employers on your behalf.

The recruitment agency can also help you get all your documents in order. Your curriculum vitae (CV) is one of the most important documents you will need to have updated when you are going to be looking for any legal job. Your CV should detail all your most recent work experience, publications you’ve made and any certifications you hold. Some lawyers haven’t updated it in several years. They may be missing out some key information.

Many people wonder which recruitment firm they should work with. Most people are surprised when recruitment agencies tell them to work with other firms as well. Recruiters say that there may not be as much overlap between the job opportunities as job seekers may think.

Recruit

All job applicants should use three to four recruitment agencies. That way they will be able to get the most traction from them without spreading themselves too thin trying to manage relationships with all of them.

Many recruitment agencies specialize in working with lawyers. Some agencies you may want to look at include Robert Half Legal and Kelly Services. These firms are highly rated by attorneys who have worked with them in the past.