With regulators getting more stringent about banking norms, large global banks are looking at large-scale hiring of mid-to-senior-level professionals in functions such as risk, audit, compliance and legal over the next 12 to 18 months. Large global banks are targeting to increase their teams by 20% to 30% in legal and compliance and 30% to 40% in audit and control, according to a study by Vito India Advisors, a BFSI executive search firm. According to the survey, there are currently over 240 legal and compliance professionals across 36 global banks in India. "With global regulatory norms getting more stringent, unique functions like risk-based supervision, privacy compliance, regulatory affairs are triggering the demand for additional compliance professionals," says Dhvani Anjaria, support hiring specialist at Vito India Advisors.
Read the Economic Times news report here.