Compliance as a career?
What's the matter with Compliance in a BB as a career path?
WLB? Salary? Progression?
Anyone in Compliance could give some perspective on it?
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have buddy that after 20 years is now chief compliance officer at a major hedge fund. His lifestyle is very cushy and he does reasonably well - single, owns nice two-bed in UES, clothes, watches, travel at will. His cynical view is that he will ride the wave until he fulfills his destiny of being the fall-guy for some major breach internally
After doing SEC reporting for half a decade and running compliance for a wealth management practice before that, I looked hard at going in-house to do compliance and work towards a CCO spot. Short of a handful of busy seasons a year, it was very pro WLB and despite the name and stigma, very relaxed so long as you knew what you were doing. The salary expectations may not be as huge as getting a cut of PnL since the job is about keeping what you have (similar to risk management) instead of growing it. Like CorpDev, it's a cushy exit if you're ok with stopping out as a CCO at most. But it's also a pretty secure job since compliance and regs are never going away.
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