Why is it so difficult to hire senior Risk & Compliance professionals in law firms?
An exploration of the talent shortage in the UK law firm risk and compliance sector.
The Short Answer
It is a classic case of demand outstripping supply. Every SRA-regulated firm now needs a sophisticated risk function, but the pool of professionals who have the combined legal, commercial, and management skills to lead one is incredibly small.
The 'Risk Lawyer' Boom
The rise of the 'Risk Lawyer' as a prestigious career path is relatively recent. This means there is a 'missing middle' in the market—plenty of juniors and a few very senior veterans, but a real shortage of the mid-to-senior 'rising stars' who are ready to step into a Head of Department role.
The War for Talent
Law firms aren't just competing with each other; they are competing with the 'Big Four', financial services, and legal tech companies. These industries often offer higher salaries and a more 'corporate' environment where compliance is already a respected, board-level function.
The Bottom Line
Hiring at this level is difficult because the stakes are high and the talent is scarce. It requires a proactive, search-led approach and a willingness to be flexible on the 'traditional' lawyer profile to find the right expertise.
Want to know more?
Guide to Hiring Senior Risk & Compliance Professionals in UK Law Firms
Why copying another law firm’s Risk & Compliance structure can lead to the wrong hire
Why do senior Risk & Compliance candidates reject law firm opportunities?
What makes a senior Risk & Compliance position attractive to candidates?
