In light of the new Dodd-Frank and FATCA regulations that are expected to go into effect this year as well as the recent SEC vote to eliminate the ban on general solicitations in Rule 506 offerings, The Execu|Search Group’s Financial Services recruitment professionals have been observing a particularly strong increase in demand from clients for compliance professionals that have all levels of experience.  “It’s an exciting time to work in the world of compliance,” explains Stephanie Tancredi, a Director of The Execu|Search Group’s Financial Services division who specializes in compliance.  “As these new regulations begin to take effect, we expect that the demand, both for junior level professionals who are eager to learn, and more experienced professionals who can think and act strategically, will grow stronger.”

You can learn about the unique career opportunities these new regulations are creating below:

Dodd-Frank and FATCA

Firms taking steps to comply with and prepare themselves for future Dodd-Frank and FATCA regulations are increasing their staff by creating unique opportunities for Junior Compliance professionals.  As Stephanie notes, because these regulations are so time sensitive, “firms, particularly on the buy-side, really need new hires who will not only be ready to get the ball rolling on the first day, but also be prepared to see new compliance initiatives through.”

Stephanie encourages all compliance professionals at the junior level to take advantage of these changes. “Compliance professionals with about 1-4 years of experience really have their pick of jobs right now and organizations that need junior bodies in seats are creating opportunities that offer the professionals who fill them the chance to gain some real hands-on experience,” she explains. “While at your current job, you may be 1 of 100, if you seek out one of these newly created positions, you’ll have the opportunity to do more than just sit behind a computer and press a button. You’ll learn how to accomplish different tasks, become a valued member of the team, and most importantly, you’ll make direct contributions to the company’s operations.”

Whether you’re thinking about your next steps or happy at your current place of employment, it will be worthwhile to check out these new positions because in the long-run, the experience and growth opportunities they offer will position you as a much more marketable candidate with higher salary potential.

Rule 506

On July 10^th, the Securities and Exchange Committee voted to adopt amendments in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act) to rule 506.  The new rule, 506(c), states that the prohibition against general advertising and solicitations will no longer apply to private placement offerings.

Stephanie expects this decision will specifically create a wealth of jobs within a variety of hedge funds.  She notes, “Rule 506 is an excellent way to raise capital and one that hedge funds will take full advantage of now that the ban has been lifted.  However, in order to market their products to the public, using both traditional and social media outlets, they will need compliance professionals to review all of their marketing materials to make sure they are in compliance with all anti-fraud rules included in the federal securities laws.”

As a result, if you are a compliance professional who has experience either developing or working within a marketing compliance program at a broker-dealer or asset management firm, for instance, this new rule affords you the opportunity to take your skills elsewhere and really build a new program from the ground-up.  “Don’t be scared to make a change,” Stephanie advises.  “Opportunities like this come few and far between.”

Hedge funds will be willing to pay top dollar for experienced compliance professionals who can take charge and make a real difference.  In addition to the monetary rewards, think about how you will gain a stronger overview of the world of compliance and how this will brand you as a well-rounded professional whose opportunities are limitless.