HONG KONG--(BUSINESS WIRE)--Demand for financial crime compliance experts in Hong Kong has soared in the last two years, mainly due to more aggressive regulatory supervision and enforcement pushing companies to bolster compliance.
“There was a huge surge in demand for compliance professionals in 2014 due to regulatory pressures and fines,” said Suan Wei Yeo, a director at executive search firm Profile Search & Selection. “We see this particularly in high demand areas such as AML and regulatory compliance.”
“The level of demand for skilled and experienced anti-money laundering, sanctions and anti-bribery and corruption experts is unprecedented in Hong Kong,” said Scott Williamson, Co-Founder and Managing Director of FCC Solutions Limited. “Increased regulatory demands have led to international banks vacuuming the market dry of subject matter experts.”
FCC Solutions is set to address this shortfall, and offers a suite of tailored financial crime compliance services to corporations, banks and financial services companies.
“We’re able to assist our clients with placing financial crime subject matter experts for short periods of time due to resignation or transfer, assuring a range of financial crime programs and providing outsourced AML compliance advice and support, where required,” said Gail Cox, Co-Founder and Managing Director of FCC Solutions Limited. “We also supply specialist resources for KYC remediation projects, and outsourced customer due diligence and onboarding activities.”
In its annual salary survey executive search firm Robert Walters found that Hong Kong-based AML professionals are changing employer for an average 15-20% pay increase, while those that remain gain less than 10%.
“If you’re an asset manager, private equity investment manager or smaller financial services provider why pay a premium for financial crime compliance expertise when you can have industry-leading subject matter experts for a fraction of the cost,” said Williamson.
FCC Solutions is a Hong Kong-based management consulting firm focused on providing financial crime compliance risk and advisory solutions. The firm is committed to providing proactive advice extending beyond the theoretical to commercially practical solutions. For more information please visit: www.fccsolutions.com.hk.
