Sourcing Multiple Hires Across Senior Risk & Compliance Roles

Opportunity

A long-standing Barclay Simpson client decided to develop their EU presence following Brexit and chose Luxembourg as their location. We were tasked with providing support with multiple Senior Risk & Compliance roles as the company set up two new entities, one registered as an AIFM, the other was MiFID registered. To meet local regulatory requirements, the firm needed a senior risk and a senior compliance officer for each entity.

Approach

The project was run by our Europe team dealing with various stakeholders in the client’s Head office in London. We were able to utilise our in depth understanding of the opportunities and challenges the Luxembourg market presented, provide information on the availability of the required skills and experience, salary levels, employee benefits and business culture. This consulting phase led to some significant modifications being made to the person specifications and the compensation that was to be offered for these roles. We agreed an exclusive search mandate for the roles. Target timelines and processes for each of the roles were agreed along with identified participants whose availability was booked in advance.

Outcome

We were able to identify enough candidates of the requisite seniority, with strong reputations with the regulator and the required skills and experience within the local Luxembourg market. This avoided the need to pursue candidates who needed to relocate to Luxembourg which would have significantly increased of the risk of the assignment failing. Shortlists for three of the Senior Risk & Compliance roles, both AIFM positions one risk MiFID role, were agreed with all three roles being successfully filled following the interviewing and assessment of the shortlists. The shortlist for the outstanding MIFID compliance role was agreed but did not yield a successfully hired candidate. A second shortlist was agreed, and the final position was successfully filled. All candidates have now started their new roles.