JD Haspel: Compliance in companies

JD Haspel manages search assignments across a range of functional disciplines for a broad range of clients. And whatever the search, the team has the relevant deep domain knowledge to quickly access the best infrastructure professionals. They have closed assignments for corporate, retail and investment banks, asset managers, hedge funds, clearing houses and securities services firms, in the UK, US, Europe and Asia.

James Haspel

James founded the firm in 2006 and in addition to executing a variety of senior assignments he manages many of the firm’s key client relationships. James has earned a reputation for great execution and delivery, and has broad financial services industry knowledge.

Tim Kemp

Tim joined the firm in 2012 and leads the Infrastructure practice at JD Haspel. He has 14 years’ executive recruitment experience manages assignments across a range of functions. He has also been instrumental in overseeing the development of the infrastructure practice.


How has the role of Compliance changed in recent years?

James: In the past compliance was seen as a relatively low profile function, but since the financial crisis, it has become front and centre to every part of a business’s decision-making process. As such we have seen a huge increase in demand and subsequent pay levels for compliance staff who increasingly have a seat at the top table within any business. Their ability to influence behaviour within firms has never been greater.

As banks have globalised their businesses they must now also ensure their control functions and in particular compliance, follows suit. That said, at a local level, the country CEO must ensure that the bank is compliant to local nuances and regulations. Encouraging more effective and regular communication is something many of our clients are wrestling with.

Tim: Our clients have been investing in building stronger governance and control frameworks by hiring better quality auditors, market and operational risk managers and compliance professionals. Recruiting volumes at the MD and Director levels have increased accordingly. Since the financial crisis, regulators have asked banks to enhance their governance models with three clearly demarked lines of defence – essentially building more robust control frameworks at global, regional and local levels. In short, the aim is to get better quality people into the control and governance functions. Whilst demand remains strong for subject matter experts in senior roles in compliance, audit and risk, clients are increasingly looking to hire leaders capable of influencing at the most senior level and who can work effectively with regulators. As a result, anyone who has won kudos with a regulator becomes a highly sought after individual.