A shortage of risk management professionals is forcing companies, especially those in the financial services sector, to fight to recruit and keep experienced staff.
The problem was acknowledged during the banking royal commission when Commonwealth Bank’s chief risk officer, David Cohen, told Commissioner Kenneth Hayne “recruiting is difficult” because “there is a higher demand than has been in existence in the last few years for suitably qualified people, particularly in operational risk and compliance risk and financial crime compliance”.
The large financial services companies, including CBA, NAB, Westpac, ANZ and AMP, are looking to rivals, recruiters, consulting firms and even overseas to fill their ranks with risk professionals.
“In Australia, there is a war for talent…
