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‘All the responsibility, none of the power’: Why compliance officers are burning out

Regulation and good governance have never been so important, but workers are quitting and burning out in droves

A growing volume of banking regulation is putting compliance staff under pressure
A growing volume of banking regulation is putting compliance staff under pressure Photo: Getty Images

More and more compliance staff are done with their jobs. The work may be important, but it doesn’t come with the pay or prestige of working in the front office of a bank. On top of that, there’s an ever-increasing raft of financial regulation to deal with. All of that is pushing them to quit the industry or burn out.

One veteran compliance officer, who chose to remain anonymous, spent years working for some the biggest banks in the world. Then a series of requests from the Financial Conduct Authority set in motion a train of events that lead him to a breakdown.

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