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A survey of its finance contractor database by umbrella specialist, giant group, found that 96 per cent expected opportunities to increase or stay the same over the next 12 months, representing a growth of 74 per cent year-on-year.
As increasing regulation impacts on the entire financial arena, organisations are having to boost their compliance and risk departments.
The Bank of England recently implemented its ruling which holds directors and top executives criminally liable should a bank fail and this is potentially behind a surge in demand for specialist contractors.
Firms are now likely to seek out professionals with expertise in managing complex legislation in order to help process these regulatory changes.
Matthew Brown, managing director of giant group, said: “It’s certainly encouraging to see such a significant jump in expected opportunities for finance contractors. While organic growth in the markets has contributed to a substantial portion of this upturn, the crackdown on banker behaviour and increased regulation in the sector is also likely to play a part.
“If this is behind the increase in optimism in the finance arena, then we can expect more opportunities to appear as banks will require specialist expertise to help them through this difficult period.
"Firms will have to rely on contractors to help process regulatory changes as there simply aren’t enough permanent specialists on the ground at the moment. While the increased focus on compliance is likely to impact banks in a number of ways, it’s only going to benefit contractors with experience in this area.”
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Susie Hughes © Shout99 2014
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