The volume of regulatory work, compared to after the 2008 financial crisis, has been decreasing. However, the complexity regarding technology and cyber security as well as conduct ensures the Regulatory Liaison (or Relations) function remains an important function within the financial services industry.

What does this mean for future talent?

To understand the main challenges and developments in the function from a talent angle, Cecilia Burns connected with five experts to encapsulate the main themes and current hiring trends. The results of our survey speak of a function in a period of transition, and a market that has not yet coalesced around a single operating model for the digital age.

Download the report here:

Online Paper extract:

Executive Summary – 

Having originated as a niche subset of the Legal & Compliance world, the Regulatory Relations (or Affairs, Liaison) domain took on a significantly heightened profile during and post the Financial Crisis, pivoting from a reactive policy unit to a proactive engagement unit with influence across the enterprise.

Observations from a panel of incumbent Regulatory Relations professionals yields the following points of note:

Regulators have become an increasingly assertive collective in the post-crisis environment, and typically appreciate a proactive and ongoing dialogue with organisations within their jurisdiction.

An inclusive organisational culture is a key ingredient in enabling the function to access the people and data required to be successful. The view of Regulatory Relations as an arcane and academic policy unit yields results commensurate with that view.

An holistic understanding of the organisation’s business model is critical to the success and credibility of the Regulatory Relations function; a view that increasingly sees ex Business professionals joining the function alongside more traditional legal and compliance skills.

The function will further evolve with the advent of heightened cyber risks related to topics such as Cloud, AI and Emergent Digital Asset Classes. In this spirit, true technology understanding could feasibly be on the hiring agenda in the short-to-medium term.

 

Author information:

The paper was researched and authored by Leathwaite Consultant, Cecilia Burns.  Cecilia joined Leathwaite in 2015 and is a Consultant specialising in senior level appointments spanning the EMEA region with a focus on business enablement functions. As well as retained search mandates, she delivers market intelligence and due diligence projects across various market remits.

Leathwaite is an Executive Search and Human Capital Specialist Firm, offering a range of C-Suite retained search, talent and leadership services with offices in London, New York, Hong Kong and Zurich.

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