The hottest area of corporate recruitment is the Governance, Risk or
Compliance Officer
Fordham Law School has taken into account the increasing
demand from the global business community for governance, risk management
and compliance (GRC) professionals. Copenhagen Compliance® believes
that it GRC is one of the most significant growth areas in legal education.
The GRC course offerings globally have been adjusted to respond to the corporate
and oversight demand.
As
fines from global SEC type and supervision authorities bite large chunks
off the quarterly profits, an important hiring spree for governance, risk
and compliance staff is well under way. In a global economy that is struggling
to create jobs, it is fortunate that at least one field is booming and
will continue to boom for a long time, and that is GRC officers.
Hefty fines, settlements, and penalties have shaken the stakeholders,
and the violent loss of reputation has created a bad standing with potential
new employees. The FCPA and UKBA settlements have affected the non-financial
companies. Therefore, global companies are forced to enter into a compliance
(GRC) hiring spree. It is further expected that all over the world, governments,
oversight authorities are still tightening business laws and regulations
and upgrading their monitoring and enforcement activity, creating added
jobs on both sides of the business fence.
Demand for qualified and experienced GRC officers
A senior Bank of
England official estimated that, as a result of European compliance requirements,
70,000 new full-time jobs would need to be created. At the same time,
rules like Dodd-Frank or EU competition laws necessitate tens of thousands
of compliance positions. For many companies, focus on GRC processes is
more than a stakeholder change; it is an entirely new way of monitoring
methods of conducting business.
The corporate focus on governance, risk management and compliance (GRC)
reflects the increasing demand for qualified and experienced GRC officers.
It is not only the large financial institutions like HBSC that added 1600
to their compliance staff. J.P. Morgan Chase is adding a SWAT Team to
the compliance organization, after agreeing to make billions of dollars
in settlement payments.
Fordham Law's school and other new programs are robust compliance (GRC)
platforms and is helping to supply ethically minded legal professionals
for the growing demand. Among the school's initiatives is an LL.M. in
Corporate Compliance, which welcomed its first group of students this
fall.
The university program introduces law students to the field that offers
not only employment prospects but also new challenges for development
of the GRC law both as JD and LLM degrees. Many other global institutions
are also designing compliance programs that include practical roadmaps
and frameworks that are suitable GRC program implementations for the global
corporation.
These educational programs include the customised GRC components relevant
to current FCPA, UKBA, Dodd- Frank, EU competition law and enforcement
of global tax planning regimes and other key regulatory reforms are reasons
for the continued demand for GRC professionals.
Source; http://www.fcpablog.com,
Wall Street Journal and own research
