"Compliance jobs in financial services have lost the love"

Compliance roles in London's financial sector have lost their shine. For the past decade, they've been touted by both the media and recruiters as resilient, immune to downturns and the place to be. 

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In 2024, things are starkly different. 

Job opportunities in compliance have dwindled. People in the sector are now facing job cuts. Instead of being protected, compliance is being deprioritised. Suddenly, compliance professionals are facing redundancy. Compliance is being seen as just another back office function. 

This is because many financial firms are operating under tighter budgets. They are having to make tough decisions about where to allocate resources. Compliance is no longer seen as a critical function with guaranteed career growth. It's necessary, but not indispensable. Regulatory demands have not diminished, but the willingness to invest in compliance seems to be waning. Jobs can be automated away. 

This raises questions about compliance as a career path. The reclassification challenges the long-held belief that compliance jobs are a safe bet for job security and growth. This is no longer the case. Now that compliance jobs have been relegated to the same status as other back office jobs in banks, they're often the first to face cuts. 

Aaron Sim is a pseudonym

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