How To Fill Compliance And Risk Management Jobs Easily
Kohort Recruitment
Working in partnership with UK firms to deliver the best CASS, Safeguarding & Compliance talent. Interim & Permanent
Are you sitting there wondering how to fill a CASS vacancy? Do you get in a cold sweat thinking about filling compliance and risk management jobs? It’s not nice. Changing your mindset to your recruitment system will change your results.
Compliance and risk management positions are some of the most important in your business. Utilising specialised recruiters, like Kohort Recruitment, can take the stress, time, and deadline panic away from filling tricky positions.
The Challenges in Recruiting for Compliance and Risk Management Jobs
Thankfully, with the right employees in these roles, your company can avoid incurring the wrath of regulators when things go wrong. So, what are the main challenges recruiters face in filling these roles? Here are some of the most common ones.
1) Skill Gaps in Compliance and Risk Positions
You’ve probably experienced problems finding candidates with all the right skills. It’s not surprising, as recruiting for a compliance or risk management job differs from recruiting for a generic role in your company.
For compliance and risk management jobs, people need to know the regulations inside out and have the analytical capabilities to analyse highly complex data. Here are some of the areas where they need skills and working knowledge:
Compliance Skills
Risk Management Skills
2) A Competitive Market
There is a need for more skilled professionals in risk and compliance roles. Consequently, this limited talent pool has led to fierce competition.
Also, top talent is often attracted to larger firms. This preference makes it harder for smaller firms to secure the best talent.
3) Evolving Industry Requirements
Compliance and risk management jobs are necessary. Christine La Garde pointed out, “Regulation is necessary, particularly in a sector like the banking sector, which exposes countries and people to a risk.”
No industry stays the same, and as industries evolve, so do the rules and regulations. Your company must maintain its risk management and compliance obligations. Otherwise, they might incur a fine, penalty, restriction of services or even closure.
You can do that by matching the changing regulatory environment at every stage. That’s why having the most capable employees is so important.
4) The Impact of Technological Advancements
The rise in cyber threats has increased the demand for employees with this knowledge. New data protection laws also require specialists who can ensure compliance and manage data risks effectively.
A New Approach to Recruiting for Compliance and Risk Management Jobs
Here are some things you can start right now to improve your chances of success. Securing compliance and risk management talent is easier than you think.
1) Proactive Talent Sourcing
Fine-tune your recruitment strategy by being more proactive when sourcing talent. Look for suitable candidates before you have an open position.
It gives you time as a company to:
Make an extra special effort to attend networking and industry events. It will allow you to connect with potential candidates within your industry. It’s all about building personal relationships.
2) Work Together with Specialised Recruitment Services
Working with a specialised recruitment agency will improve your success rate. These agencies identify and bridge skill gaps in companies. Also, they have extensive networks, giving you access to passive candidates.
Specialised recruitment agencies are experts in proactively sourcing and maintaining talent pools. Read this article about sourcing CASS talent with agencies like Kohort Recruitment.
3) Leveraging Technology
Introduce more technology into your recruitment process. Artificial intelligence (AI) and machine learning (ML) can help you in many ways. AI and ML can screen CVs for compliance and risk management roles. It streamlines your recruitment processes.
You can also use data and talent analytics to identify trends in your industry. This data can help you predict your hiring needs, which can help you optimise your recruitment strategy.
Innovative Recruitment Strategies
Don’t be afraid to try something new and reap the rewards of filling compliance and risk management jobs. Here are some innovative recruitment strategies you can use to get things moving.
1) Partnerships with Educational Institutions
Sourcing talent that has the skills you need is imperative. Finding talent from education can help you save time and money. Put steps in place to collaborate with universities and colleges.
This connection will help you create a pipeline of qualified graduates. You can develop internships and apprenticeship programs by working closer with educational institutions.
2) Continuous Learning and Development
Michael Kouly said, “The culture of a company is the sum of the behaviours of all its people.” He was 100% right. It’s essential to encourage a culture of continuous improvement and professional development.
Set up a bespoke system for your company and offer training programs and certifications to upskill current employees. You can do it for compliance and risk management jobs and all roles throughout the company.
This article is about filling compliance and risk management roles. However, it is equally important to retain employees with these skills. Employee retention can improve as soon as you implement strategies like this.
3) Employee Referral Programs
These programs are a great way to attract new employees. They are ideal for a talent shortage in a competitive market. They make your recruitment job less of a headache and help you engage your employees.
An employee referral program (ERP) can make a huge difference and is quick to set up. You can offer attractive incentives to employees for referring candidates for compliance and risk management roles.
4) Employer Branding through Thought Leadership
Spending time on thought leadership content can help you position yourself as a leader. You can do this by publishing blog content, publishing research, and hosting webinars.
It will help you to reach a wider audience and establish yourself as a trusted employer. Stay consistent and authentic so that more people will engage with you.
In Summary
Hopefully, this article has inspired you to change your mindset about recruitment. Consider proactive talent sourcing, working with specialist recruiters, and using technology.
Partner with educational institutions to fill talent gaps and train current employees. Use employee referral programs to stay competitive. Additionally, push your brand with thought leadership content.
Markus Buckingham said, “Talent is the multiplier. The more energy and attention you invest in it, the greater the yield.” Contact me if you want to boost your pipeline and talk to interested compliance and risk talent.
I’m here to help you - gareth@kohortrecruitment.com
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