HAS THE EVOLUTION OF THE COMPLIANCE OFFICER ROLE LED TO MAJOR BURN OUT?
With mental health week here, there’s been a huge discussion around well-being and burn out in the professional services industry (quite rightly so), and the article linked here is the first one I’ve read that relates specifically to the compliance field – which immediately caught my attention.
Having worked in the compliance recruitment space for over 20 years, I’ve spoken to a huge number of senior compliance professionals over that time and it’s interesting to note how the role of the Compliance Officer has changed, evolved, and grown over the years. Of course, since the beginning of time the pressure has always been on the compliance team to be the “risk owner” and be able to navigate the rules and regulations set out by the FCA, however nowadays when I talk to contacts it’s about so much more that they need to do to make sure the plates are still spinning for their firms. Consumer duty, AI, continuous reporting requirements: the list of current and upcoming responsibilities is endless. So, it’s no wonder that we’re seeing burn out across the board when it comes to compliance.
But what can firms do to tackle the pressure and help their compliance teams deal with the workload, especially in a tight market like today’s?
Hopefully, it’s not all doom and gloom, as a recent conversation with a client showed me that there are healthy working conditions for people out there. He told me that mental health and well-being was at the forefront of his mind when it came to people management, and as a result, he was looking to onboard an extra two team members to help support the workload of his current employees. Another client, who is undergoing a recruitment freeze, told me that to prioritise mental health in the workplace her entire team had undergone mental health first aid training so that they can spot any early signs of burnout should it arise.
I’m interested to hear – do you agree with the article? How can compliance teams help combat burn out in the workplace?
#mentalhealthweek #mentalhealthawareness #compliance
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BC Sales Consultant SME | LS Retail and Hospitality
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