Insights into The Netherlands Compliance & Financial Crime Recruitment Market
Throughout 2023, there has been a strong focus on Financial Crime effectiveness as the DNB (De Nederlandsche Bank) cracks down on Anti-Money Laundering (AML), with a particular emphasis on sanctions.
We witnessed significant growth within the FinTech sector, which continues to thrive through innovation, government support such as grants and tax breaks, and investments in key technologies like AI (Artificial Intelligence) and blockchain.
The increase in technology is compelling Banks to be more data-driven. In 2023, we observed a growing trend in hiring Compliance candidates with data analytics experience, as well as candidates with strong knowledge of data protection. Additionally, the scrutiny from the DNB on AML is increasing. Consequently, there is a heightened need for skilled Financial Crime professionals in Banks across the Netherlands, with a specific demand for sanctions experts in response to the conflict between Russia and Ukraine. Lastly, we are seeing more professionals increasingly inclined to explore opportunities within FinTech, Payments, and Cryptocurrency companies rather than pursuing positions in traditional Banks.
Given the sustained demand for Financial Crime, specifically sanctions professionals within Banks, the job market in the Netherlands has become notably more competitive. This heightened competition has resulted in a substantial rise in salary expectations, with these candidates expecting an increase of at least 15%. In 2024, we expect to see continued growth in FinTech and startups in the Netherlands. Expertise in data analytics, data protection, and strong Financial Crime knowledge, particularly sanctions, will remain crucial skills sought by financial institutions in the Netherlands.
For tailored solutions to your hiring needs in the current Netherlands Compliance & Financial Crime market, contact Isabel today. Her expertise and insights can guide you through navigating the current landscape and securing the right talent for your team.
Isabel Anchebe
Associate Director, Head of Compliance, Europe
T: +44 (0) 20 3889 5758 E: ianchebe@danosassociates.com
