PSD Group Regulatory Practice 2013 Salary Survey. For more information go to:

1. PSD
SALARY
SURVEY
April 2013
Regulatory Practice

2. 02
PSD
Regulatory Practice
April 2013
Matchmaking
Is what we do and we do it very well
PSD is a leading Executive and Management recruitment organisation.
We operate across a range of functions, industry sectors and countries,
providing specialist expertise in each area. Our reputation is based
upon our ability to deliver outstanding results, exceptional levels of
service and a real understanding of our specialist markets. We provide
comprehensive recruitment services for both single appointments and
large scale assignments, permanent and interim on an International
basis.
We operate through a matrix structure organised by geography, function
and specialist industry sector. Our principal specialisms are Compliance,
Financial Crime, Data Protection & Privacy, Risk, Marketing, IT, Finance,
Legal, HR, Customer Contact, Engineering and Design, Pensions &
Investment, Procurement and Supply Chain, Surveying and Planning.
Our principle objective is to be the leading specialist in our chosen
markets, with an outstanding reputation for the quality and effectiveness
of our services.
For a confidential discussion about your requirements or to discuss your
career aspirations please contact Kirstie Burn 020 7970 9712 (kirstie.
burn@psdgroup.com) or Paul Geist on 020 7970 9774 (paul.geist@
psdgroup.com)

3. 03
PSD
Regulatory Practice
April 2013
Regulatory Practice
Welcome to PSD’s Regulatory Practice
2013 Salary Survey, an essential guide
to pay and reward across the Banking &
Financial Services sectors.
It is the result of a comprehensive salary survey completed online by
permanent and interim Regulatory Practice professionals responding to
an email invite and PSD’s own database of 15,000 professionals.
Contents
02 Matchmaking
03 Regulatory Practice
04 Analysis
07 Banking & Financial
Services
09 Banks & Building
Societies
10 General Insurance &
Mortgages
11 Life & Pensions,
Outsourcers
12 Management
Consultancy
13 IFA / Networks
14 Credit Cards /
Payments
15 Regulatory Bodies
16 Regulatory Practice
17 Contacts
We believe it is the most useful and
comprehensive of all Regulatory
salary surveys, allowing Regulatory
leaders, HR professionals and
candidates to analyse trends and
benchmark their own company’s
reward policy. The survey
focuses purely on executive and
management roles within the
Regulatory field and reflects the
level of individuals on which PSD
focuses.
Our results have been gathered
during another challenging year
which has seen a double-dip
recession in the UK, the continuing
crisis in the Eurozone and pace of
growth in the emerging markets of
China, India and Latin America.
During 2009 to 2011 permanent
candidates were moving for
improved job security, career
prospects and more interesting
roles. Although these factors
are still a high priority, financial
incentives are becoming
increasingly important. As a result,
it has become more difficult to find
good people willing to move over
the last 12 months.
We expect organisations
to demand more from their
Regulatory control functions as
the need to stand out from the
competition through stronger
brand, communications and
customer experience increases in
importance.
Completed by over 2500 professionals.

4. 04
PSD
Regulatory Practice
April 2013
Analysis
Market Review of 2012
2012 in entirety was a fairly challenging year due to an inconsistent
market in regards to predicting and forecasting the markets’ performance
Quarter by Quarter and over the year. The actual Global, Euro and macro
economic factors all affecting both domestic and International Finance,
many of our clients were awaiting outcomes in regards to Regulation
and Legislative changes as well as availability of capital to market and
new liquidity regulations.
Q1 2012 began with some uncertainty and concern over the Euro
Money crisis and how this could or would affect the Banking & Financial
Services markets. This impact of the Eurozone crisis, how the banks had
no money combined with an increasing number of significant European
countries concern over sovereign wealth, meant a vigilant approach to
spend and budgets.
Recruitment Market 2012
Overall it was a cautious and slow moving market where the interview
process was often procrastinated. We started to see clients reduce the
need to bring in expertise on Solvency II and other work.
The banks have been hiring in places, but from the external recruiter’s
perspective this has not necessarily offered great opportunity as often the
sourcing has primarily come from the redeployment of staff internally or,
if they must seek external talent, using this as an opportunity to promote
within and then hire in at a junior level.
Also in general, fragmentation of the sector has created opportunities.
We worked with a significant number of; start-up firms, overseas firms
looking to establish in the UK (particularly originating from the US), firms
looking to further invest in existing Compliance & Risk resource and also
requirements for strong regulatory experience as the FSA intensifies it’s
approach to specific markets such as the Payments industry.
Hiring managers held high expectations of what they wanted to attract
into the Banks / Firms, however the market was quite static as those
looking were few and far between. This meant that we experienced a
more demanding client side whilst the choice of candidates in the market
showed signs of contracting.

5. 05
PSD
Regulatory Practice
April 2013
Analysis
Market Review of 2012
Understandably spend and budgets were key factors in all decisions in
regards to recruitment and therefore the appointment of new positions
was only approved when there was full confidence from all parties
involved in the process. Sign off often involved more levels of senior
authority than we had experienced in 2011 (often up to Board level).
Organisations’ desire to find candidates who combined qualifications
with relevant sector experience and their refusal to compromise on
specifications produced pockets of skill shortages, for which those
candidates with fairly specialist skill sets and rare combination of
experience were in high demand. The core challenge of this was the
outcome of counter offers proving successful in more opportunities
than we would usually experience. However, those people were soon to
return to PSD as the initial salary increase did not compete with other key
factors where there were continued missed expectations.
Social Media
Social media and new forms of networking such as Linked-in particularly
became a significant part of our world. Social media and Linked-in
allows information and communication to flow in a current status so
has been a huge benefit to our industry. However the relationship PSD
has with our candidates has still been paramount in our approach to
success. Candidates and Recruitment Partners have used the search
tool to identify people with whom we would like to connect. The passive
candidate market where PSD’s knowledge of the inactive candidate pool
has been invaluable to our clients.
The actual skill and confidence in working closely with a trusted and
professional recruitment / search partner has been the ultimate reason
in an individual considering an approach to a firm such as PSD and
assisting with final decisions on offers. The personal contact has not lost
it’s benefit as well as the interest in working with an impartiality of advice
on career moves rather than direct discussions with the hiring firm /
manager.

6. 06
PSD
Regulatory Practice
April 2013
Analysis
Market Review of 2012
Key Skill Set Demand
AML and Financial Crime, Product Advisory, Monitoring and Policy/
Regulatory Affairs were the most sought-after specialisms. Client Asset
Sourcebook (CASS) and ‘suitability and appropriateness’ specialists in
the light of MiFID II were also strong needs.
Expertise in AML, Financial Crime, Privacy and Data Protection have
also been in higher demand in 2012 due to an increase in legislation and
observations from the regulatory bodies in these areas.
Compliance monitoring is a key skill which is also seeing further resource
development across both retail and investment markets as well as hiring
in those who can manage and liaise with FSA in a regulatory capacity.
2013 Predictions
In 2013, we expect a stronger year of more consistent performance
and are already seeing continued requirements across Financial
Crime & AML, more Senior level requirements across Compliance and
Regulatory Risk and Interim Heads of. The LCO of the FSA and ever
intensifying presence of Supervision from regulatory bodies will uncover
more opportunities for Compliance & Regulatory Risk professionals.
Consumer Finance firms soon to come under the FCA guidance and
Payments firms who are aiming to gain an e-money licence and establish
as an EMI and come under the Payment Services Directive will require
further expertise in house. Those candidates with niche skills and
complementary combinations of experience will be most in demand as
stand out in regards to expertise.

7. 07Regulatory Practice
April 2013
PSD
Banking & Financial Services
2012 has been a challenging year for the sector with restructuring and redundancies in the larger
banks. This will continue in 2013. The main skill sets in demand are likely to be Policy, Advice &
Guidance. Within the Banking & Financial Services markets the Cards arena has been buoyant with
lots of innovation and NPD around digital and mobile payments.
Although market conditions are challenging, there is movement at senior management level within
the Regulatory functions, and we expect this to continue throughout 2013.
Salaries remained fairly flat in 2012, with moves being made for increased career opportunities,
as restructuring and shrinkage of departments reduced internal opportunities. Salaries on hiring in
external expertise will need to demonstrate an increase of a substantial enough offer to give the
preferred candidate confidence this is the right move if leaving a secure post to a new venture.
We expect in 2013 there will be an increasing focus on retention and development of talent as
expectation increases around growth in 2013/2014.
Retail Banks are looking to invest in Group Regulatory functions and structure strong central controls
leading and guiding business units within the Banks. The Libor scandal and focus around interest
rate swaps is also encouraging Banks to look for monitoring and policy people to regulate the
operations.
The Insurance sector has seen a consistent level of recruitment with product specialists in high
demand, as Insurers look to review their offering in light of legislative impacts such as the Retail
Distribution Review.
Demand for interim and contract roles within the sector in 2012, especially within Retail Banks, will
continue in 2013 to support headcount challenges and project rollouts.
Life & Pensions firms have remained quite static with demand arising mainly from the BPO market
taking over outsourced compliance contracts with larger providers. We expect the conditions in
2013 to be similar.
Management consultancy firms will experience an upturn in engagements within the Regulatory
arena in 2013, due to the increased level of supervision coming from the Regulator, the LCO of the
FSA and more firms coming under the guidance and control of the FCA (ie Payment & Consumer
Finance firms).
The IFA market continues to respond to RDR and Compliance teams have become more
centralised. The field based compliance positions are on the decrease and head office teams are
growing in monitoring, advice & guidance.

8. 08Regulatory Practice
April 2013
PSD
Banking & Financial Services
Card Association experience, knowledge of the payment services Directive, permission and
e-money licensing experience will all be high demand skills for the payments sector. Payments/
cards firms will always look for excellent understanding of AML, Financial Crime and Risk rules and
regulations.
With the LCO to take place - the FCA (Financial Conduct Authority) & PRA (Prudential Regulatory
Authority) will create the change in the markets reflecting the new structure. This will create
opportunities for FCA / PRA people to move into industry and then the Regulator needing to build
strong resource in-house to support the external presence required in the Banking & Financial
Services firms.

9. 09Regulatory Practice
April 2013
PSD
Banks & Building Societies
LONDON SOUTH ENGLAND
Group Director of Compliance 150-250+ 120-200+
Director of Compliance 120-150 100-130
Head of Compliance 80-120 75-110
Senior Compliance Manager 65-90 60-75
Compliance Manager 50-65 45-60
Group Director of Financial Crime 150+ 125+
Director of Financial Crime/MLRO 100-125 90-115
Head of Financial Crime 90-130 80-110
Senior Financial Crime Manager 65-80 55-75
Financial Crime Manager 45-65 40-55
Group Director of Privacy/DP 140-175 100+
Director of Privacy/ DP 100-135 80-100
Head of Privacy/ DP 75-100 65-80
Senior Privacy/DP Manager 55-75 50-65
Privacy/DP Manager 45-55 40-50
Group Operational Risk Director 125+ 110+
Operational Risk Director 100-125 95-110
Head of Operational Risk 90-110 75-95
Senior Operational Risk Manager 70-90 60-75
Operational Risk Manager 50-70 45-60

10. 10Regulatory Practice
April 2013
PSD
General Insurance & Mortgages
LONDON SOUTH ENGLAND
Group Director of Compliance 150-200+ 120-150+
Director of Compliance 120-150 100-130
Head of Compliance 95-120 75-110
Senior Compliance Manager 65-85 60-75
Compliance Manager 50-65 45-60
Group Director of Financial Crime 150 125+
Director of Financial Crime/MLRO 100-125 90-115
Head of Financial Crime 85-110 80-100
Senior Financial Crime Manager 65-80 55-75
Financial Crime Manager 45-65 40-55
Group Director of Privacy/DP 100+ 90+
Director of Privacy/ DP 90-100 80-90
Head of Privacy/ DP 70-90 65-80
Senior Privacy/DP Manager 60-70 55-65
Group Operational Risk Director 125+ 110+
Operational Risk Director 95-120 85-100
Head of Operational Risk 75-95 70-85
Senior Operational Risk Manager 65-75 55-70
Operational Risk Manager 45-65 45-55

11. 11Regulatory Practice
April 2013
PSD
Life & Pensions, Outsourcers
LONDON SOUTH ENGLAND
Group Director of Compliance 150+ 110-120
Director of Compliance 95-110 90-100
Head of Compliance 70-90 70-90
Senior Compliance Manager 60-75 45-60
Compliance Manager 45-65 30-45
Director of Financial Crime/MLRO 100-150 100-125
Head of Financial Crime 80-110 70-90
Senior Financial Crime Manager 65-80 55-65
Financial Crime Manager 50-65 40-55
Operational Risk Director 120+ 100+
Head of Operational Risk 120-150 80-100
Senior Operational Risk Manager 60-90 50-80
Operational Risk Manager 50-80 35-50
Operational Risk Consultant 45-60 30-40

12. 12Regulatory Practice
April 2013
PSD
Management Consultancy
LONDON SOUTH ENGLAND
Head of Sector 200+ 200+
Partner 200+ 175+
Associate Partner 150-175 120-150
Director 120-150 100-115
Senior Manager 85+ 60-80
Manager 60-80 55-70

13. 13Regulatory Practice
April 2013
PSD
IFA / Networks
LONDON SOUTH ENGLAND
Director of Compliance 110-200 100-125
Head of Compliance 75-110 80-100
Senior Compliance Manager 55-65 55-75
Compliance Manager 45-60 40-55
Head of T&C 75-100 65-85
T&C Manager 55-70 50-65
T&C Supervisor 30-55 30-50
Head of Financial Crime 80-110 70-90
Financial Crime Manager 50-65 40-55
Operational Risk Director 120+ 100+
Senior Operational Risk Manager 60-90 50-80

14. 14Regulatory Practice
April 2013
PSD
Credit Cards / Payments
LONDON SOUTH ENGLAND
Group Director of Compliance 150+ 150+
Director of Compliance 150 100-125
Head of Compliance 65-110 60-100
Compliance Manager 45-65 40-55
Director of Financial Crime 100-130 90-110
Head of Financial Crime 80-110 70-90
Senior Financial Crime Manager 65-80 55-65
Financial Crime Manager 50-65 45-55
Operational Risk Director 120+ 100+
Senior Operational Risk Manager 60-90 50-80

15. 15Regulatory Practice
April 2013
PSD
Regulatory Bodies
LONDON SOUTH ENGLAND
Director of Compliance 110-150+ 100-110
Head of Compliance 95-130 80-100
Senior Compliance Manager 60-75 65-80
Compliance Manager 40-60 45-65
Director of Financial Crime 110-120+ 100-125
Head of Financial Crime 90-110 70-90
Senior Financial Crime Manager 65-80 55-65
Financial Crime Manager 45-65 40-55
Head of Privacy or DP 80-125 65-80
Senior Privacy or DP Manager 55-75 55-65
Operational Risk Director 120+ 100+
Senior Operational Risk Manager 60-90 50-80

16. 16
PSD
Regulatory Practice
April 2013
Regulatory Practice
Our reputation is built on our ability to
deliver outstanding results and exceptional
levels of service.
Established in 1992, our Compliance, Risk & Fraud practice comprises
30 consultants in locations worldwide with specialist teams dedicated to
the following sectors:
Functions
We recruit across all job functions in Compliance, Risk & Fraud from
Analyst to Group Directors:
Recruitment Services
Operating at executive, management and board level, we provide
comprehensive recruitment services for both single appointments and
large scale assignments delivered through a rigorous project management
system.
Our approach is open and collaborative and recommendations are made
only after careful consideration and analysis of clients’ specific needs. Our
core services are:
• Banking
• Financial Services
• Business Services
• Not for Profit
• Regulatory Bodies
• Professional Services
• Compliance
• Regulatory Risk
• Regulatory Affairs
• AML
• Privacy/Data Protection
• Financial Crime
• Market Risk
• Credit Risk
• Enterprise Risk
• Operational Risk
• Quantative Risk
• Fraud
• Executive Search
• Advertised Search
• Contingency Search
• Contract & Interim
• Market Mapping
• Psychometric Testing
• Salary Benchmarking
• Client Forums

17. 17Regulatory Practice
April 2013
PSD
REGULATORY PRACTICE TEAM FOCUS
Kirstie Burn
Associate Director
kirstie.burn@psdgroup.com
http://www.linkedin.com/pub/
kirstie-burn/8/514/8a0
Specialising in Compliance, Regulatory
Risk, Financial Crime, AML, Sanctions,
Data Protection, Privacy and Training
& Competence in the mid to senior
markets in firms across London and
Southern England.
Paul Geist
Principal Consultant
paul.geist@psdgroup.com
http://www.linkedin.com/in/
paulgeist
Specialising in Compliance, Regulatory
Risk, Financial Crime, AML, Sanctions,
Data Protection, Privacy and Training
& Competence in the mid to senior
markets in firms across London and
Southern England.
Contacts