FCA credit card probe drives employee demand in compliance sector
Specialist recruitment consultant MERJE has seen a 30 percent increase in employer enquiries, following an announcement by the FCA of its intention to investigate the UK’s £150 billion consumer credit sector. Additionally, the firm has seen an increase in the number of compliance roles seeking individuals with backgrounds in credit, debt management and consumer lending within the last month.
Edward Manson, director at MERJE, said, “News of the FCA’s investigation has created an immediate industry need for individuals with specialist knowledge of the consumer credit, lending and debt management space. This significant increase in demand mirrors a wider shift towards companies across the board limiting their exposure to risk by strengthening their internal compliance departments.”
FCA investigations into the activity of payday lenders are already underway, with increased UK regulation related to consumer debt and caps on borrowing amounts expected by 2015.
Edward added, “With the on-going recovery of the financial services sector and growth of online consumer credit options, UK companies are looking for individuals who understand the changing regulatory environment. Based on the number of employer enquires we’ve seen since the beginning of the year, we expect employment in the compliance and risk management sectors to continue to grow rapidly throughout 2014.”