It takes a lot of time and effort to meet all of the regulatory burdens placed on businesses. The upshot of this is that companies need staff in order to carry out these requirements and ensure that everything is in compliance. For that reason, perhaps, the role of the compliance officer has been growing in prominence – and pay – for the past few years.
One sector that has faced increased regulation is the banking industry. Because of this, banks such as J.P. Morgan Chase and HSBC have been adding compliance officers in huge numbers. According to the Bureau of Labor Statistics, as reported by The Wall Street Journal, the unemployment rate for compliance professionals was a percentage point and a half below the national jobless rate.