If you are a compliance professional, you’re in a pretty good position.  Not only are your  skills in high-demand, but as new regulations continue to take effect, you can also expect your career prospects in different areas of specialization to grow in number.  “The financial crisis of 2008 has transformed the financial services industry,” explains Stephanie Tancredi, a Director within The Execu|Search Group’s Financial Services division who specializes in compliance.  “Increased governmental pressure has created new regulations in different areas and on products that were never a concern in the past.”

According to Stephanie, two specific areas where employers are looking to build out their compliance teams include Algorithmic/Electronic Trading and Swap Dealer Compliance.  Therefore, if you are a compliance professional interested in increasing your marketability, continue reading to learn more about these areas of specialization.

Algorithmic/Electronic Trading:

Though firms have been utilizing computer trading programs for quite some time, as the trades have become more complex, regulatory agencies such as the SEC and FINRA are taking the necessary steps to ensure all the trades are legal. To do this, they are hiring ex-traders and other qualitative and system-savvy professionals to further understand the trades and technology being used.

“In reaction to the regulators’ increased knowledge of this subject, hedge funds are hiring compliance professionals to ensure their trades and programs are compliant with the law,” says Stephanie.  “They are specifically looking for compliance specialists who not only have experience with algorithmic/electronic trading and the particular technology they work with, but who also possess strong communication skills as the ability to confidently explain why the program is compliant to a regulator is integral to the operations of the firm.”

Swap Dealer Compliance:

Prior to the financial collapse of 2008, Swaps and other derivatives were not heavily regulated –a concern that the Dodd-Frank Act addresses.  “Because the crash of the derivative market was in part responsible for the most recent financial collapse, regulators have begun to understand these products better in order to prevent another crash,” explains Stephanie.  “In order to ensure checks and balances are in place, regulators have taken an overarching, bird’s eye view of the market to ensure everything is regulated, and if one piece is missing, that the whole market doesn’t collapse again.”

Because Swaps and other derivatives were not regulated until recently, firms have to not only figure out how they are going to comply with these new laws, but also, have to find the talent needed to support these compliance initiatives. “Since not that many people understand Swaps and their functions are relatively complex, finding this talent is especially challenging for employers,” notes Stephanie.  “As a result, whether you have experience with derivatives and your organization has a compliance division, or vice versa, I would encourage you to take on added responsibility within the area that you don’t have as much exposure to.  Swap Dealer compliance is becoming an increasingly specialized need, so if you possess some experience, you could find yourself in high-demand.”