Selby Jennings UK

UK Financial Regulators to Step Up Compliance


London, UK -- (SBWIRE) -- 02/23/2022 -- The attention of the financial regulators in the UK is now turning towards cloud computing providers thanks to the potential problems that could arise for the financial services sector if one of them is hacked. As banking systems become increasingly reliant on cloud services, there is growing concern about the disruption that could be the result of a cyber-attack. The Prudential Regulation Authority is now focusing on cloud providers such as Amazon, Google and Microsoft - all of which have entered into sizable deals with banks in recent years -, in particular looking into ways to access more of their data. Although all UK banks are covered by the Prudential Regulation Authority's operational resilience framework there are concerns that a successful hack could unleash more disruption than this could prevent. At the top of the list is the fear that a combination of factors could be fatal, for example if one or more services failed at the same time as a cyber-attack took place.

As a compliance recruitment firm, Selby Jennings has been following the way that regulators in the UK have been increasingly focused on financial sector use of cloud computing and using compliance measures to improve safety. The firm was established in 2004 and has been supporting organisations across banking and financial services as the sector has quickly evolved. Today, as well as being a compliance recruitment firm, Selby Jennings provides hiring support in a range of connected, and equally vital, fields. This includes sales and trading, insurance and actuarial, private wealth management and corporate and investment banking. The firm has built up a database of more than a million mid-to-senior professionals over the years, as well as a network of connections at firms of all sizes. This includes global institutions as well as innovative start-ups and SMEs. A combination of permanent, contract and multi-hire solutions ensures that Selby Jennings can provide hiring options for every need.

In the UK, Selby Jennings is a compliance recruitment firm with extensive reach, including to major hubs such as London, Birmingham and Manchester. This broad nationwide coverage is complimented by an international perspective - the team in the UK is part of a 1,000+ worldwide workforce. In addition, the firm is also the recruitment partner of choice to hundreds of world-leading companies as part of the Phaidon International group, which operates across 6 countries. As threats continue to evolve, it's vital for a compliance recruitment firm to be wise to the challenges faced by clients, including when it comes to an ever-changing regulatory environment. The firm invests heavily in its own people so as to be able to provide expert support. Consultants are trained on an ongoing basis and work with best-in-class recruitment technology and strategies. Today, there are many roles available via the firm including Senior Credit Analyst, Data Scientist and Treasury Model Validation Associate.

The team at Selby Jennings said, "Little did we know that the pandemic would spark a new chapter for financial services. From ever-evolving regulations, mercurial consumer expectations, digital transformation, to the heightened competition from incumbents and new entrants, financial services verticals evolved at lightning speed – all while in a stage of poised recovery with the need to future-proof operations from additional disruption.

Alongside challenges brought on by the pandemic, financial services in 2021 were gripped by the wider political and socio-economic context that was Brexit, as banks and financial institutions packed their bags to move some, or all, of their operations to cities across Europe. However, Financial Services were one of the few bright spots of the past year, providing fuel to the economy and scaling up in a time where many sectors wouldn't take the risk. 2022 is already shaping up to be a record-breaking year in terms of talent movement, and we can't wait to help clients secure that world-class talent."

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About Selby Jennings
Selby Jennings knows that building the right team isn't easy. However, with the support of the right hiring partner, access to key networks and contacts, it's possible to reimagine the process of recruitment to make it more positive, satisfying and productive.