Foreign firms lure compliance officers with CEO level salaries but are struggling to recruit talent in China

The average pay package for an experienced financial fraud officer on the mainland can reach up to 2 million yuan a year, which matches the pay of a CEO of a small Hong Kong-listed company

International financial firms are seeking individuals in their 30s and 40s with strong digital skills

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Demand from international companies for compliance officers has risen as they look to build their teams on the mainland. Photo: Reuters

Published: 9:00am, 8 Jul 2019Updated: 3:13pm, 8 Jul 2019

Digitally savvy financial compliance officers are in demand in China, with multinational companies offering to pay top dollar as they look to tackle rising white collar crime in the region, but such talent is hard to find, according to international headhunter DHR International.

Demand for professionals with experience in handling fraud, sanctions and money laundering in China has risen by 80 per cent year on year to June, which has led to an increase in salaries on the mainland and other financial centres in Asia, according to Robert Knight, managing partner at DHR International, which specialises in hiring C-Suite executives.

The average annual pay package, which includes basic salary and bonus for experienced professionals in China, has risen to between 1.8 million yuan (US$262,005) and 2 million yuan, up from 1.2 million yuan and 1.5 million yuan last year, Knight said.

Knight said that although such compensation packages was similar to that of a chief executive of a small Hong Kong-listed company, it was not easy to recruit talent in China.

Robert Knight, managing partner of DHR International, says companies are willing to pay big salaries to recruit compliance officers in China. Photo: Jonathan Wong

According to PayScale.com, which offers compensation software solutions for companies, the average salary for a CEO in Hong Kong was HK$1.9 million annually (US$243,700).