Danos Group
27 Mar

With the current lockdown of countless cities and countries, many companies have adopted for working from home policies, and new talent is being onboarded virtually.

We have seen a flurry of new starters working remotely and we are very pleased to report that we are successfully supporting our clients with the virtual onboarding of new permanent employees, contractors, and consultants.

We asked some of our recent on-boarders and hiring managers to share their experiences…

“We have used Danos many times to hire previously and trusted their recommendations on contractor hiring. The onboarding of a candidate was achieved within 48 hours as requested and we are pleased to have had the extra onboarding support from Danos at this difficult time”. Head of Compliance, Asset Management.

“A prime example of how recruitment in an ever changing and dynamic environment can still be executed efficiently and swiftly.  The Danos team facilitated a streamlined and adapted recruitment process to support the financial services industry being thrust into uncharted territory, whilst still meeting the high standards required by their clients.  Very impressed by the team’s work ethic and diligence in making ‘virtual’ recruitment an entirely seamless and successful experience”. Compliance Consultant, Private Equity.

There are many guides on how to onboard remote staff, here are eight top tips for hiring managers:

IT hardware and manuals – Don’t forget a mouse and keyboard. Your IT department will assist with setup.

File and software access – Identify what is required and notify your IT department to provide the right level of access.

HR paperwork – Having your new hires sign employment contracts and other legal documents can be time-consuming if they need to print, scan and email all copies or send them via mail. Consider using an e-signature tool, like HelloSign or DocuSign, so that employees can add their signatures digitally and share contracts in a secure environment.

Company communications – Ensure new hires understand how to use the company communication tools. Describe the best ways to contact managers, team members and how to troubleshoot communication technology. People might need support setting up tools such as:

  • Company email
  • Group messaging tool
  • Video conference software (Skype, GoToMeeting, Zoom, Cisco….)
  • Webphone application

Company culture – To help them understand the culture, share:

  • Your employee handbook in digital format
  • Any presentations or literature on your company values
  • Pictures and videos from recent all-hands meetings
  • Overview of the company’s charity work and support programmes 
  • Articles or podcasts that describe your company’s ethos

Goals and expectations – Prompt managers and/or the new hire to set clear goals and expectations, including completion of online training:

  • Define short-term and long-term goals
  • Develop and share a task calendar after new hires’ training and onboarding sessions

Scheduled meetings – Connecting with people is very important, with today’s technology we can do this very effectively remotely, set-up:

  • Weekly one-on-one meetings to discuss upcoming projects, progress and resolve potential issues
  • Meetings with team members and other key employees. These meetings could be one-on-one and/or group calls with: Managers, Direct reports, Coworkers, Key stakeholders from other departments

Role-specific training – Use interactive training courses, that are user-friendly to boost engagement:

  • Record product demos to better explain features through video
  • Arrange a training with your IT department. Remote workers should get familiar with: File-sharing applications and cloud backup software (like Google Drive, Dropbox, Carbonite). Computer security (for example, how to lock laptops and install anti-virus software). Password management and data encryption tools to protect their devices

Onboarding remotely is different. It’s done virtually: an introductory handshake becomes an introductory message and a welcome lunch becomes a greeting over technology (email, video, audio). However, it is evident, more so in these current times, that if new hires are properly onboarded virtually then they will thrive in their remote roles.

If you would like advice on virtual onboarding or have any questions on virtual permanent or interim hiring, please feel free to reach out to our experienced team and they will be happy to support you in anyway.

Click here to meet the Danos Team

29 Feb

The size of the online global gambling market (including online gaming, arcade games, lottery, scratch cards) is set to double by 2024. The current size of the market is almost 46 billion US dollars, by 2024 it is anticipated to be valued at more than 94 billion US dollars.

There is no single piece of legislation that covers the legality of global internet gambling. Legal and regulatory disputes are dealt with mostly by countries own local law. These laws vary largely from one region to the next, many regions make regular changes to their legislation as well.

In the UK, the Gambling Commission has stepped up its monitoring and investigation of compliance failings included but not limited to Anti-Money Laundering (AML), underage users, unfair terms, and breaches of Advertising Standards. Lack of compliance will result in operator licenses being withdrawn, high financial penalties and the banning of irresponsible individuals operating in this sector.

The Gambling Commission reported they carried out more than 160 investigations in the 2018/2019 financial year and imposed a variety of sanctions on operators. Betting companies in the UK paid out £19.6 million in penalties over the course of the year, for failing to protect problem gamblers and the stopping of money launderers.

Though the gambling and gaming market is a very attractive growth market, it is essential that operators pay close attention and comply to the rules and regulations.   

There are three principles that operators need to cover under Gambling compliance:

  • Keep crime out of gambling.
  • Conduct operations in a fair and open way.
  • Protect children and vulnerable individuals from being harmed or exploited by gambling.

The Gambling Commission has set out clear advice and guidance on how to comply with the law and license conditions and codes of practice. Covering social responsibility, AML, technical standards, complaints handling and Alternative Dispute Resolution (ADR), and sector specific compliance. But having a strong compliance culture is more than just complying to law and license conditions, the following should also be in place:

  • Compliance requirements to be set and constantly monitored and updated in line with regulatory changes and business changes.
  • Regular internal audits and assessments of processes to monitor performance and efficiency of systems and processes.
  • Senior Management to set a customer centric culture by accentuating social responsibility, that aligns with long term financial viability and growth of the organisation.
  • Roles and responsibilities need to be defined, where employees having clear understanding of their accountabilities.
  • Each department and individual have a role in initiating and maintaining social responsibility and AML practices.
  • Revenue generating teams’ form part of the compliance structure, to form first line of defense against compliance risk.
  • Thorough training of staff as teams grow or staff change. In addition to refresher training for established staff.

If you are currently operating in this market or you are looking to enter, you will need to ensure that your business is complying. Danos Consulting is here to support you, we can help ensure that you understand the legislation and that you have the right processes in place. We can support you with:

  • Review of local and country specific guidelines and requirements.
  • Gap analysis of current Social Responsibility and AML systems, processes and procedures.
  • Adherence to regulatory change including the Fifth Money Laundering Directive.
  • Gap analysis of current organisational systems, process and procedures.
  • Delivery of training.
  • Project management of implementations.

Danos Consulting is a leading supplier of Compliance and Risk personnel globally. With an unparalleled talent network including consultants based in Malta, Gibraltar and Cyprus, we provide experienced, first class practitioners at affordable costs on an international scale. We have a bench of over 800 Compliance, Risk and Legal Consultants, which we use to resource projects.

Danos Consulting can offer a range of solutions tailored to your personal needs. If you would like more information or have any questions, please contact us.

Katherine Lord
Associate Partner, Head of Danos Consulting
Tel: + 44 (0) 207 010 1153
Email: klord@danosconsulting.com

Source: Market value of online gambling worldwide 2017 and 2024. Published by S. Lock, Sep 23, 2019.

Source: Gambling Commission – How to comply to your licence.

31 Jan

Banking competition has been encouraged, over the last few years the market has become very diverse. In the past there was one universal banking model, but today there are many. Large challenger banks as well as the smaller challenger banks and FinTech firms with niche specialisms, now operate successfully across the market and require broader non-traditional hiring strategies for senior Compliance and Risk professionals. 

External v Internal

Heads of Compliance and Chief Risk Offices in early stage start-ups usually need to be hired externally, typically attracting talent from one of the big five retail banks or a nationwide. This type of external hiring is also seen across both small and large challenger banks. 

Challenger banks do hire from other challenger banks, with smaller firms offering great opportunities for individuals to take on broader roles.

Whist the big five banks typically continue to leverage their internal pools of senior individuals, by moving them up into senior Compliance and Risk leadership roles. Larger challenger banks tend to have a small amount of internal promotions, leveraging their team talent pools. 

Interim v Permanent

Executive interims and contractors are often hired at start-ups and smaller challenger banks, to enable them to manage their fixed costs. As these firms grow often interim executives are often offered permanent roles.

New businesses benefit from the board experience that interim executives can offer. There has been a rise in the calibre of senior Compliance and Risk professionals who have opted for short term contracts, rather than permanent roles.


Firms are actively looking to address the gender diversity, as historically only a small proportion of heads of Risk and Compliance at challenger banks are female. Many firms are actively looking to hire senior female talent and are offering talent development programmes to ensure gender diversity.

The hiring of both executive interim and permanent senior Rick and Compliance roles will continue to be in demand, as firms at different stages of their lifecycle, regulatory processes and growth will require different experience.

As a leading supplier of Compliance and Risk personnel to the financial services industry globally, the Danos Group are extremely well-placed to find you the best permanent and interim candidates.

We use our experience and market knowledge to help you land the best people for your roles.  Treating each client as unique, understanding the business requirements and advising on the best hiring strategies, to ensure you have the best and most appropriately experienced talent.

If you would like to find out more or would like our support or advice on permanent and interim resource solutions, please do get in touch.

Ruaridh Brown-Hovelt
Associate Partner, Head of Risk and Quant Practice (EMEA) – Permanent roles

Tel: +44 (0) 20 3889 5757
Email: rbh@danosassociates.com

Katherine Lord
Associate Partner, Head of Danos Consulting – Interim Roles

Tel: + 44 (0) 207 010 1153
Email: klord@danosconsulting.com

31 Jan

Since the last UK general election (December 2019), the Danos Group has experienced a significant surge in recruitment activity in the UK and across Europe. The start of 2020 is noticeably busier than early 2019. Confidence across the market has improved considerably, and the Danos Group has had its busiest ever December and January.

During the last six months of 2019 Danos Associates experienced an increase in search recruitment activity, despite the continued economic instabilities. Firms did not have the staffing resources to execute their business growth plans, and they no longer let the UK’s political indecisions hold them back. From the summer we started to see a significant rise in hiring August was our leading summer month on record. This then surged post the December UK general election and the confirmation that Brexit was going to happen.

Across 2019, we saw high recruitment demands across the European financial centres including Amsterdam, Dublin, Frankfurt, and Luxembourg, coupled with the continued growth of nearshoring centres across Eastern Europe.

The second half of 2019 was our strongest period in the North American market since establishing ourselves in 2014. Over the last year, we have seen our business grow beyond that of New York City where our US headquarters is located. We are now working with clients across the US, branching further into the Los Angeles, and San Francisco markets, as well as undertaking searches in Boston, Chicago, and Greenwich.  Our networks in all these markets have grown considerably.

As the nearshoring phenomenon continues in the US, we anticipate increased activity this year, as we support our clients in relocating teams to lower-cost centres, away from more expensive traditional Financial Services hubs. Even with the nearshoring trend, our clients in New York City continue to be very active, with lots of hiring occurring.   

Our Singapore office had a very strong second half of 2019, they delivered the best performance ever, this growth and demand is set to continue in 2020. We have seen rapid growth as new FinTech companies enter the market, and we are seeing a high demand for strategic or innovative candidates. The MAS (Monetary Authority of Singapore) fully support the importance of the FinTech opportunities as highlighted by their Managing Director Mr Ravi Menon, “Singapore’s FinTech journey is about innovation, inclusion and inspiration. Everything we do in FinTech must always have a larger purpose – to improve the lives of individuals, to build a more dynamic economy, to promote a more inclusive society”.

Despite Hong Kong being immersed in anti-government protests for months, there are opportunities, and it was recently reported by the Asia Securities Industry and Financial Markets Association, that the Hong Kong capital markets remain an important gateway between China and the world. Last year in the months of November and December our clients were hiring actively, and we continue to experience a good level of search activity in this market.

Danos Consulting had its best year ever in 2019, with demand concentrated predominantly across buyside, FinTech and the medium sized banking groups. 2020 brings a certain degree of transition due to the upcoming legislation, and the larger banking groups blanket approach of putting all interim/consultants inside IR35. Those firms taking a case-by-case approach are managing to secure some of the best shorter-term staffing solutions available. We expect the market to remain solid through the early part of 2020 and then pick-up rapidly post the IR35 implementation hiatus.

Whilst it is certain that we will continue to experience local and global challenges, our specialist teams will stay close to our clients and their markets, ensuring that we understand the ever-changing environment that they operate within. Whether it is the changes in regulation or the political landscape, we will continue to find innovative solutions to ensure our clients have the best talent in place to support and grow their businesses.  

If you would like to discuss your hiring strategies or consulting projects, then please do get in contact.

Dominic Danos
Global Managing Partner

23 Dec

A few months ago, we discussed why the Financial Services industry should care about achieving a diverse and inclusive workforce, and highlighted some of the benefits, including:

  • Diverse and inclusive workforces help businesses better relate to the global markets they operate within
  • Leads to higher employee satisfaction
  • More likely to have financial returns above their respective national industry medians

While it is great to talk about why diversity and inclusion is important, and necessary in today’s hiring landscape, the question remains as to how companies are ensuring they achieve these goals. There are many diversity and inclusion best practices that firms may use, but we wanted to highlight a few simple areas to consider, and that you can implement straight away into your hiring process.

In order to gain some insight into this topic we talked to Jennifer Brown, an award-winning diversity and inclusion, speaker and consultant, who boasts nearly 15 years of experience in this space. Her new book, How to Be an Inclusive Leader, hit the bookshelves this summer. 

Job Postings

From Jennifer’s perspective, if you want to build a diverse team of professionals, the first place to start should be the Job Posting. According to Jennifer, “Hiring requirements can be so narrow that they become biased themselves”. Her suggestion is to revaluate how you are writing job descriptions to stop unintended bias. This means eliminating gendered words like “compete”, “dominant”, or “adventurous”.

This is backed up by research from studies published in 2011, from the University of Winnipeg, by professor Danielle Gaucher, who found that “Gendered wording is common in male-dominated fields, and contributes to the division of traditional gender roles by dissuading women’s interest in jobs that are masculine worded”.

While rewording job specifications may seem like a daunting task there are tools out there like Textio, that help hiring managers analyse job postings for gendered and non-inclusive language, by judging it against a “bias meter”, which reflects how inclusive a job posting’s language is.

Firms are also finding success by inviting under-represented people to apply in the body of a job post. This simple prompt goes a long way in making a candidate feel welcome to apply.

Selection and Bias

Bias can also find its way into the candidate selection process. A 2003 study from the National Bureau of Economic Research found that, whether they intend to or not, recruiters tend to discriminate based on candidates’ names, and assume race/gender when screening resumes. There is an inherent tendency to “pattern match” while reviewing resumes, from Universities to previous Companies worked.

In order to eliminate bias in resume evaluation, Jennifer Brown suggests “Rethinking the reliance on the resume”. While looking at resumes, hiring managers should consider the bottom-line needs and criteria of a Company and evaluate whether a candidate has the skills to meet these needs.

Project Include, is a non-profit that uses data and advocacy to accelerate diversity and inclusion in technology recruitment. They write in their hiring guide – “Think about employing a ‘distance travelled’ metric: Where did a candidate begin their journey? Which achievements were accidents of birth and linked to privilege (e.g. an internship at a family or friend’s company) as opposed to earned in a meritocratic competition?”.

Outside of the interview and selection process, Financial Services firms have found that diversity and inclusion cannot be improved by better hiring practices alone. Therefore, Financial Services firms are investing in programs that offer mentorship and education for underrepresented groups. Programs like “Girls Who Invest”, are backed by firms like Oaktree and TPG, and strive to increase the number of women in portfolio management and executive leadership in the Asset Management industry. 

At Danos Associates we adopt at headhunting approach to our recruitment process. That means that we don’t have candidates apply directly to us. Instead, we actively go out and find candidates for each role, which means the onus is on us to find the best possible candidates for each job, using a variety of different metrics.

We take the time to meet with each candidate in person and get to know each candidate before putting them forward for your roles. We feel that we are uniquely placed to ensure we are doing our part to find diverse candidates and, in turn, the strongest candidates for each job.

We approach every search with an aim towards diversity and inclusion. While skillset and experience remain a focal point in our selection process, we strive to ensure that each shortlist reflects a diverse range of experience, culture, and backgrounds.

We pride ourselves on being able to match talent not just to the requirements of the role, but also to the style of the organisation.

Get in touch with us today to discuss your diversity and inclusion efforts and how we can assist you with your search and selection.

09 Dec

Given Danos Associates’ strength in the legal search space, we are keen to share the main talking points on an increasingly topical line of conversation with our clients. Along with our own expertise, we have collated together discussions we have had with C-suite executives and Partners in leading law firms, regarding the fundamental benefits of having an in-house legal counsel.

Reduction in legal expenditure

As your business flourishes, you may start to notice the rising legal requirements. With the increasing charge-out rates for external counsel, it is logical that you would want to find cost efficient ways of managing legal spend.

One effective way of doing this is by hiring a dedicated business lawyer.  With a lawyer working within your organisation, you could significantly cut down your legal outsourcing costs, particularly if the business needs are aligned with their area of expertise. In areas outside their remit, they are perfectly positioned to negotiate fees with external firms.

Whilst the upfront cost may seem expensive, you will be able to derive maximum value from the hire if you align the needs of your company with their expertise.

Trusted business advisor with vested interest in the growth of the business

In-house lawyers often play an integral role in the strategic planning process. It is common for a commercially astute lawyer to closely advise on the Board, contributing to the overall strategic mission of the firm.

The best in-house lawyers have in-depth understanding of the businesses they support, liaising with other support functions to achieve the objectives of the organisation.

As we have seen recently, shaky senior investor confidence can negatively impact a business. Having an in-house lawyer reassures these stakeholders that you are taking legalities and risk seriously, alongside the clear objective of having their best interests in mind, i.e. keeping their investments safe and secure.

Management of external counsel

In the instances whereby you may require work to be outsourced, Ii-house counsels are well positioned to identify the best individuals for this additional support or advice. They will easily pinpoint the legal issues and give direction to your law firms on the right legal advice needed for the given matter.

They will serve as a trusted liaison between the business and external counsel, again facilitating your firm’s best interests, whilst effectively translating any technical legalese into digestible information.

Identification and mitigation of legal risk

It is your lawyer’s job to identify, analyse and evaluate legal risks. A trusted permanent advisor will have a clear understanding of the business’ assets / product offerings, making it easier to deal with these risks.

They can work in unison with other internal stakeholders to put mitigating measures in place which in turn can limit the risk of disputes and damage to business reputation. This long-term foresight and continued monitoring will enable counsel to track risks and foresee where issues may arise, making their reactions much quicker.

In conclusion…

Hiring an internal counsel can prove extremely valuable in the long term. Focus on hiring an in-house lawyer well versed in dealing with the legal issues your business experiences daily to ensure that your outsourcing requirement is minimised.

As a leading specialist executive search firm, we have an unparalleled talent network within the Legal sector throughout EMEA, the Americas and APAC.

We pride ourselves on being able to match talent not just to the requirements of the role, but also to the style of the organisation.

If you would like to find out more, would like our support, or advice on permanent and interim resource solutions, please do get in touch.