Morning Coffee Mar 27 2012

All (Compliance) Hands on Deck

By julie steinberg

Since the Dodd-Frank Act passed in July 2010, financial companies have been gearing up to hire compliance officers. It looks like the time has finally come.

Over the past two months, more than 300 finance firms have posted 1,200 job ads for compliance officers around the country -- up 49% from the year earlier for that period -- according to Wanted Analytics, a talent data research firm.

The firm says that hiring demand is highest in New York, Dallas and Chicago, financial centers with high concentrations of financial services firms. Because of the high demand in those cities, there may be battles over talent, which promises to bump up salaries overall.

Still, hiring is taking place all over the country due to increased federal scrutiny and new regulations stemming from the financial regulation reform. Hedge funds, private equity firms and small banks will have to add to their compliance headcount.

If you're planning to apply for a compliance position in one of these cities, make sure you have experience with audit management and certifications such as Certified Fraud Examiner and Certified Internal Auditor. (Wanted Analytics)

Changes at the Top (Financial News)

All of the banks seem to be on a giant merry-go-round that rotates senior employees among various firms. Expect the ride to continue as the industry churns.

Still in the Game (Financial Times)

The appointment of Andrea Orcel to UBS's investment bank signifies the firm isn't quite giving up on that division.

Meanwhile, Over in Wealth (InvestmentNews)

The Swiss bank isn't neglecting its wealth management side. It recently eliminated layers of management that should make things easier for its advisers.

New Units (Bloomberg)

French bank Societe Generale will create a division focused on advising other financial institutions in addition to combining its equity capital markets team with the M&A roster.

Leaving the Party (Fortune)

Gene Yoon, head of private equity for Goldman's Special Situations Group, is leaving the firm to start his own fund.

Happy Times (GoingConcern)

A recent list puts accountants in the top 20 happiest jobs in America. If you're an accountant, would you put yourself on this list or stay far away?

Public Misconceptions (Deal Journal)

Wall Street isn't looking so hot in the eyes of the Main Street beholder, and firms know they must better explain themselves to the public.

Buzz Around the Office

Sacramento's Party Cab (YouTube)

Taxi Dave's black and yellow party cab might rival any we've taken in New York City.

List of the Day: The Performance Review

If you prepare, you should be able to strut your stuff at your next performance review.

1.Write a list of all your accomplishments and bring it to the meeting.

2.Don't get defensive if you're given constructive criticism.

3.Spell out your goals for the following year.

(Source: Forbes)




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