Salary Guide FINANCIAL SERVICES - RISK & COMPLIANCE

Size: px

Start display at page:

Download "Salary Guide FINANCIAL SERVICES - RISK & COMPLIANCE"

Elfrieda Sherman
5 years ago
Views:

1 FINANCIAL SERVICES - RISK & COMPLIANCE

Contents Introduction... 3 London & South East... 4-5 West Midlands... 6-7 East Midlands... 8-9 North West... 10-11 South West... 12-13 CEO Commentary... 14 Other sectors.

This year, we have taken the step of creating separate guides to best cater for the evolving needs of our specialist clients, whether it be Employee Benefits, Wealth Management or &.

2 Contents Introduction... 3 London & South East West Midlands East Midlands North West South West CEO Commentary Other sectors Welcome to the IDEX Financial Services Salary Guide. This year, we have taken the step of creating separate guides to best cater for the evolving needs of our specialist clients, whether it be Employee Benefits, Wealth Management or &. This guide has been created to assist Financial Services professionals across the UK with their next career move and to support our valued clients with their growth strategy. Drawing upon the extensive knowledge and data available to IDEX, this guide contains insight into the key recruitment and remuneration trends over the past 12 months. The difficulty in sourcing and recruiting new talent is a challenge that the growing Financial Services industry is now accustomed to. However, 2018 was a landmark year in which many firms began to adapt to this challenge in order to achieve their own growth targets. The most successful firms have begun to develop broader remuneration packages, taking advantage of the rapidly growing popularity of non-financial benefits to attract and retain the best individuals by standing out from the competition. These flexible packages are designed to improve employees work / life balance; creating better levels of job satisfaction, engagement and ultimately higher performance. Additionally, the global drive towards diversity and equality in the workplace has meant that part time or flexible working is now a regular offering from firms. Financial planning salaries are again on the rise as firms seek to attract the very best and it is worth noting that a Senior Paraplanner will attract a higher salary than a Junior Advisor in many areas, as the value Paraplanners can add into the wider business strategy is appreciated. We have also seen a significant shortening in the time to hire, for a large number of clients utilising IDEX s innovative recruitment solutions to specifically target individuals and top performers, while providing a professional, branded attraction strategy in line with their ethos and vision. Looking forward into, this will become even more valuable, as candidates are increasingly aware of their value and appreciate branded documents outlining the company s future vision, culture and brand in addition to traditional job specs to attract them. I hope you find this guide helpful, however if you do have any questions or require further insight, please do not hesitate to contact me. Tony Bates DipRP Managing Director M E tony.bates@idexconsulting.com Page 2 - Contents - Financial Services - & Welcome - Page 3

London & South East Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70,000-100,000 80,000-120,000 Head

3 London & South East Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70, ,000 80, ,000 Head of 80, ,000 90, , , ,000 Credit Officer 35,000-45,000 45,000-55,000 55,000-65,000 Credit Manager 50,000-60,000 60,000-75,000 70,000-80,000 Head of Credit 70,000-85,000 85, ,000 90, ,000 Operational Manager 50,000-60,000 60,000-75,000 70,000-95,000 Head of Operaition 75,000-90,000 95, , , ,000 Regional 45,000-55,000 55,000-65,000 60,000-75,000 In response to GDPR and SMCR in 2018, we have seen a significant increase in compliance opportunities across all levels; we expect this to continue, particularly for firms impacted by Brexit related regulatory changes. Head of 55,000-70,000 60,000-80,000 75,000-85,000 Page 4 - London & South East - Financial Services - & London & South East - Page 5

West Midlands Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70,000-100,000 80,000-120,000 Head of

4 West Midlands Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70, ,000 80, ,000 Head of 80, ,000 90, , , ,000 Credit Officer 35,000-45,000 45,000-55,000 55,000-65,000 Credit Manager 50,000-60,000 60,000-75,000 70,000-80,000 Head of Credit 70,000-85,000 85, ,000 90, ,000 Operational Manager 50,000-60,000 60,000-75,000 70,000-95,000 Head of Operaition 75,000-90,000 95, , , ,000 Regional 45,000-55,000 55,000-65,000 60,000-75,000 Head of 55,000-70,000 60,000-80,000 75,000-85,000 Time to hire - companies have reported that lengthy hiring processes are beginning to impact their ability to attract talent, with first-choice candidates falling out of the process in favour of faster decisions elsewhere. Page 6 - West Midlands - Financial Services - & West Midlands - Page 7

East Midlands Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70,000-100,000 80,000-120,000 Head of

5 East Midlands Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70, ,000 80, ,000 Head of 80, ,000 90, , , ,000 Credit Officer 35,000-45,000 45,000-55,000 55,000-65,000 Credit Manager 50,000-60,000 60,000-75,000 70,000-80,000 Head of Credit 70,000-85,000 85, ,000 90, ,000 Operational Manager 50,000-60,000 60,000-75,000 70,000-95,000 Head of Operaition 75,000-90,000 95, , , ,000 Regional 45,000-55,000 55,000-65,000 60,000-75,000 Head of 55,000-70,000 60,000-80,000 75,000-85,000 Time to hire has reduced significantly (86.2%) over the last 12 months as firms seek to attract the best individuals by utilising IDEX s retained solutions. Page 8 - East Midlands - Financial Services - & East Midlands - Page 9

North West Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70,000-100,000 80,000-120,000 Head of

6 North West Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70, ,000 80, ,000 Head of 80, ,000 90, , , ,000 Credit Officer 35,000-45,000 45,000-55,000 55,000-65,000 Credit Manager 50,000-60,000 60,000-75,000 70,000-80,000 Head of Credit 70,000-85,000 85, ,000 90, ,000 Operational Manager 50,000-60,000 60,000-75,000 70,000-95,000 Head of Operaition 75,000-90,000 95, , , ,000 Regional 45,000-55,000 55,000-65,000 60,000-75,000 95% of employers expecting business activity to increase and three quarters expecting to hire during. Head of 55,000-70,000 60,000-80,000 75,000-85,000 Page 10 - North West - Financial Services - & North West - Page 11

South West Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70,000-100,000 80,000-120,000 Head of

7 South West Monitoring Officer 38,000-45,000 40,000-50,000 50,000-60,000 Monitoring Manager 45,000-55,000 55,000-65,000 65,000-70,000 Manager 50,000-80,000 70, ,000 80, ,000 Head of 80, ,000 90, , , ,000 Credit Officer 35,000-45,000 45,000-55,000 55,000-65,000 Credit Manager 50,000-60,000 60,000-75,000 70,000-80,000 Head of Credit 70,000-85,000 85, ,000 90, ,000 Operational Manager 50,000-60,000 60,000-75,000 70,000-95,000 Head of Operaition 75,000-90,000 95, , , ,000 Regional 45,000-55,000 55,000-65,000 60,000-75,000 Head of 55,000-70,000 60,000-80,000 75,000-85,000 Forward thinking employers are now developing innovative remuneration packages which include: flexible working environments, enhanced bonus schemes and fasttracked career progression to stand out form the competition when attracting candidates. Page 12 - South West - Financial Services - & South West - Page 13

employees are more motivated, engaged and less likely to leave. Technology is continuing to revolutionise the Recruitment process, with new tech tools appearing on a daily basis.

8 who inspire them, are now vitally important. Leading employers are now adapting their packages to provide more flexible working practices to attract the best individuals with the increase in productivity beginning to become apparent as employees are more motivated, engaged and less likely to leave. Technology is continuing to revolutionise the Recruitment process, with new tech tools appearing on a daily basis. Efficiencies can be found at the attraction stage of the recruitment cycle, however for the mid-to-senior appointments, now synonymous with IDEX, we still need human interaction to successfully bring two parties together and I don t see this changing. In fact, exclusively using one recruiter, whether looking for work or sourcing talent for your business, is now proven to deliver the strongest results. Many of our clients retain IDEX on a quarterly basis to create medium-term talent nurturing solutions, in order to secure the very best individuals to drive their businesses forward. Individuals have now realised the danger of registering with multiple recruitment firms, as many still unscrupulously send CV s and personal data to possible employers without the individuals permission. IDEX s culture is based around delivering an exceptional Client and Candidate experience, allowing us to work as Trusted Advisors something we believe a Recruitment Consultant should be. There to provide advice and guidance all the time, not just when you re looking for a job or recruiting talent. We would love to hear your feedback on IDEX, please contact me directly with any positive comments or constructive feedback has seen significant growth across all our practice areas, as the UK economic outlook continues to improve. Despite uncertainty about Brexit, 95% of employers are expecting business activity to increase and three quarters expecting to hire during. Talent attraction remains the key challenge for business leaders, with 92% experiencing skills shortages over the last 12 months. Highlighted by the fact the UK employment market saw 56% fewer active candidates in 2018 versus 2017, while the number of businesses recruiting has increased by over 25% in the same time. This increased competition will put further pressure on the war for talent with the trend of increasing salaries set to continue over, driven by the limited availability of, and strong competition for, experienced talent across all sectors of the market. Our own research has suggested that although salary is still a key factor in choosing a new employer, work / life balance and working with colleagues Matt Green Cert CII, FIRP Chief Executive Officer M E matt.green@idexconsulting.com INSURANCE BROKING General Insurance - Insurance Broking FINANCIAL SERVICES - WEALTH MANAGEMENT Financial Services - Wealth Management INSURANCE COMPANY & MGA General Insurance - Insurance Company & MGA LEGAL EXPERTISE Legal Expertise FINANCIAL SERVICES - EMPLOYEE BENEFITS Financial Services - Employee Benefits Page 14 - CEO Commentary - Financial Services - & Other Sectors Guides - Page 15

Birmingham The Colmore Building, 20 Colmore Circus Queensway, Birmingham B4 6AT t 0333 700 4339 London St Clements House, 27-28 Clements Lane London EC4N

9 Birmingham The Colmore Building, 20 Colmore Circus Queensway, Birmingham B4 6AT t London St Clements House, Clements Lane London EC4N 7AE t Manchester 76 King Street, Manchester M2 4NH t IDEX Consulting IDEXConsulting

Salary Guide FINANCIAL SERVICES - EMPLOYEE BENEFITS

Salary Guide FINANCIAL SERVICES - EMPLOYEE BENEFITS FINANCIAL SERVICES - EMPLOYEE BENEFITS Contents Introduction... 3 London & South East... 4-5 West Midlands... 6-7 East Midlands... 8-9 North West... 10-11 South West... 12-13 CEO Commentary... 14 Other