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Monday, November 26, 2012

Revenge of the nerds as banks see risk, compliance hiring boom $BCS $GS $C $BAC $MS $DB

Revenge of the nerds as banks see risk, compliance hiring boom

SINGAPORE (Reuters) - Tough regulations aimed at banks have jolted demand for compliance, risk and legal officers, creating one of the few bright spots in an otherwise dismal job market for the financial industry.

Traditionally one of the least glamorous jobs in the sector, these staff are in hot demand at a time when nearly all other parts of the banking industry are getting cut.

"It used to be a really tough job to sell as people saw it as boring," said Sonia Fuller, director of recruitment firm KS Consulting in Singapore, who said some risk and compliance candidates are asking for raises of up to 50 percent when they change jobs.

With demand outstripping supply, recruiters say compliance staff can be hard to find, and are asking for the biggest salary hikes across the financial industry.

Recruitment firm Robert Half says compliance salaries in Singapore have gone up 10 percent on average in the past year, one of the biggest year-on-year increases across the finance and accounting sectors.

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