Market experience seen as increasingly important in oversight positions
There is a growing trend across the
financial services space which is seeing ex-traders, brokers
and bankers taking on compliance roles, and according to FOW
sources, this is a welcome trend.
This 'poacher turned
gamekeeper’ scenario is being embraced mainly due
to the fact that those with experience of operating within the
market, especially in a trading, market-facing role, on a
day-to-day basis can approach compliance functions with a
"From a trading surveillance point of
view, a former trader can have the edge when it comes to going
for compliance jobs in today’s environment," a
London-based source told FOW. "They will likely be able to
better-spot patterns of manipulation, especially those coming
from a quant role."
Experience and understanding of 'trader
talk’ is also an advantage. "Those who have come
from that side of the market can easily read through
transcripts of internet chat histories – they
understand the trader lingo – and will likely spot
manipulation quicker," added the source.
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