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The Danos Group has launched a Global Diversity and Inclusion Committee.  Its mandate is to promote a culture of Diversity and Inclusion (D&I) across our global offices. 

The D&I Committee is already working with internal teams to develop projects, seminars, and programs designed to imbed Diversity and Inclusion into our company culture, and to promote D&I with our partner clients. 

As a recruitment firm, we feel a responsibility to represent the under-represented both internally within our own teams, as well as on search projects for our clients – ensuring that D&I is always front of mind in our recruiting activities. 

D&I globally is very important; we are excited to be taking tangible action to promote Diversity & Inclusion both within the Danos Group and beyond.

Read more of our D&I articles:

Danos Associates’ Commitment to Diversity & Inclusion

Why Should The Financial Services Care About Diversity And Inclusion?

BIG NEWS

FinCEN Files – It is important to note that a lot of the stories that were leaked in these reports are already at least three years or more old. While the regulators are aware of these events and in some cases have already issued penalties and remediations, the impact this will have on the public’s trust of the big banks, is very damning.

Citi Group Hires Jane Fraser As CEO – The first woman to lead a major financial institution in the US. This is big news for our industry and a positive sign that we could (and should) be seeing more women at the CEO level in the bulge bracket segment.

JP Morgan – Faces a $920m fine for market manipulation. This is the largest fine ever issued for spoofing.

TRENDS IN COMPLIANCE ACROSS THE US

HIRING

Compliance hiring has remained steady despite the general uncertainty during lockdown. The industry adapted quickly to virtual interview processes and as lockdown rolled on, firms became more comfortable with hiring people remotely.

The industry has remained buoyant, so the need for critical hires in compliance has not been negated by the pandemic.  In fact, as the third quarter ended, we saw an uptick in recruitment activity like we have seen in previous years for this period.

RETURN TO THE OFFICE

While many firms are now bringing back senior management to the office, on a staggered basis, remote working continues to be the “norm” for most people in the industry, across the United States. While some firms seem eager to bring broader teams back to the office, the majority of our clients are erring on the side of caution and maintaining the WFH arrangement for the majority of employees until at least January. 

CHANGES TO FUTURE WORK ARRANGMENTS

No one knows how the pandemic will play out in the US over the next few months, of course, and this uncertainty is reflected in work arrangements within the industry. Remote working has been fully embraced by some of our clients, with some suggesting that WFH will be a permanent fixture for certain Compliance roles. Others, however, have remained quite conservative, suggesting that as soon as it is safe to return to the office, they will ask their staff to do so.

From a candidate perspective, this is actually a great time for new opportunities, but we suggest that you have a thorough understanding of your own WFH expectations over the next 6-12 months. It is important to be clear on specific needs or restrictions with regards to going into an office, let us know so that we can be clear with our clients when making introductions. When learning about a new role, make it a priority to get a clear understanding of that company’s “Return to Work” policy before being put forward. 

MOVERS & SHAKERS

• Valerie-Leila Jaber, Head of Financial Crime, leaves Credit Suisse for Coinbase.
• Millennium Trust names Jason Lomax as CCO.
• USAA names Bob Johnson as its Chief Legal Officer and General Counsel.
• HSBC US appoints Christine Lowthian as CCO.  
• Wells Fargo announced that CCO Mike Roemer announces departure after two years.
• Chad Fentress steps down as CCO at SoftBank and they appoint Tim Mackey as Group CCO. Visa announces new CCO Obiamaka Madubuko.

THE OUTLOOK

While it is difficult to predict the future, given the uncertainty around the pandemic and the US election, we feel that the hiring outlook for Compliance remains strong and will remain so, well into next year. We are basing this on the aggressive regulatory environment and the steady hiring trends so far this year.

As we look forward to 2021, we feel that remote working will continue to be a consideration for every new hire. Given the success of remote working for some companies, it is likely that at least some roles could be fully remote, even when it is deemed safe to return into the office. Still, as a candidate, it will be important to be flexible on this arrangement as it is subject to change at any time.

Please contact our US team if you would like to discuss the US market, or if you have any hiring requirements. Click Here.

Since the outbreak of the Coronavirus earlier this year, we have experienced a surge in remote interviews and with the ongoing need to maintain social distancing, remote interviews are quickly becoming the norm.

At Danos we have been working hard to support our clients and candidates to adapt to this style of interviewing. Scientists have predicted that coronavirus is here for the long haul, so you may need to take practical steps to make sure your interviews run smoothly.

So how do you conduct effective remote interviews? If you are new to remote interviewing or want to improve your process, please read on, as our New York team share with you some practical tips.

Make the best impression:

• Dress professionally – even though you may be working from home, dress as if you are going into the office. A jacket and tie may be overkill in some instances, but all video interviews certainly warrant business attire. No T-shirts, hoodies, pajamas! 
• Be early – make sure you are at your desk and 100% ready to go at least 10 minutes before the interview. This will give you time to settle-in and prepare.
• It may be tempting to have a lot of notes pulled up on a second screen or below you. Generally, it is smart to have a copy of your resume but try not to have much else. You do not want to be caught looking down or at a second screen for too long.
• Have a quiet and distraction free interview space – consider the quietest place in your home. A distraction free background is a good way to make an impression. 
• Eye contact is key in video interviews. Try looking directly at or slightly to the side of the webcam when possible, and especially when addressing the interviewer. Body language is important, and it can be easy to sit there rigidly, but this runs the risk of not seeming engaged. 

Be prepared:

• Make sure you know the role and understand it to the best of your ability – Particularly show how your experience relates to the role.
• Ensure you know who you are meeting with and research them – where they are based, what was their career pathway.
• Best practice is to try a test call/video at least a day before with a colleague, family member, or friend so that you can ensure all issues are ironed out beforehand.
• Make sure you have good lighting in your room. Do not interview with a window behind you as the light will cast a shadow on your face, making it hard to see. Sit opposite a window to ensure this does not happen. Overhead lighting or desk lighting is recommended as well. If desk lamps are not available, turn the brightness up on your computer screen which will cast good light. 
• Avoid distractions – Close doors, turn off your phone, tell your household that you are in do-not-disturb mode, and be sure to close all other windows on your web-browser to avoid distractions. Try to be in a quiet, visually neutral location for the duration of the interview.

Have the right technology:

• Make sure you have the link for the interview, or the call number well in advance.
• Test internet signal well before the start of the interview to avoid poor connections. Move your modem and router if necessary and if you are in a bigger space, consider investing in Wi-Fi extenders so you are fully covered wherever you plan to take the call.
• We recommend using headphones during your video/phone interview. This ensures that your voice will be picked up clearly and without interference from your external speaker playback. 
• Internet speed plays the biggest factor in whether you have a smooth video connection. Most seem to agree that you need at least a 1 Mbps to ensure a good, HD Video connection. You can test your connection by following the link here at https://www.speedtest.net/. Another way to guarantee a smooth connection is by using a wired ethernet connection (if you are using a computer). If a wired connection is not an option, ensure that you are not using any streaming services on your computer or in your household. It is safest to close all programs until after your interview.
• Have a plan in case the technology fails. Ensure that the interviewer or coordinator of your interviews has your email and cell phone number. If you are in contact with the interviewer or coordinator directly, reach out to them as soon as you have issues to ensure no further delays in your interview. 
• Most video conference services have an accompanying mobile app for iPhone or Android. Consider downloading and setting these up on your phone just in case, as cellular signal can sometimes be more reliable than Wi-Fi. 

Remote interviews are proving to be an effective employee selection method. Many of these tips are applicable to both interviewee and interviewer. Like all interviews it is important to prepare yourself, the environment, and technology.

If you would like advise on remote interviewing please connect with one of our team members https://www.danosassociates.com/team/ and we will be happy to support you.

Danos Associates New York Team