Over the course of 2021 and heading into 2022, the salaries in Malta for Compliance professionals have remained fairly consistent. Companies looking to grow their teams mostly with Compliance and AML skills are primarily business service providers, consulting / advisory firms, insurance, fintech companies & iGaming. In turn, candidates in the highest demand have extensive knowledge of AML and data protection, as these two sectors appear to be under the microscope in Malta’s current market.
Regulations have become more stringent; AML and regulatory compliance appear to be more separated in both large and smaller organisations. Some changes have transpired in Corporate Service Providers: new regulations have urged companies to reinforce their compliance departments. As a result, newly created positions have been opened with a slight increase in the salaries in this industry. The financial services sector has continued its stability, focusing its attention on the role of MLRO, where the approval process has become more meticulous than before.
i-Gaming is showing vibrant signs in a strong market, especially on the regulatory side. We see new regulated markets in high demand such as Spanish, German & Dutch in Europe which increased the request for candidates who speak these languages to better lease with the regulators. Another interesting trend here is a new interest in non-European markets with LATAM, North America and Canada. We have seen a surge of roles in this sector which makes the regulatory discussion very interesting: a lot of compliance professionals have a desire to specialise in this new market to become more knowledgeable and improve their expertise.
With regards to benefits, remote flexibility is one the most common benefits requested by candidates in this sector. The hybrid work model is the most popular by choice if considering a role in this specialization. Adding to this, companies are offering more flexibility and allowing employees to work for short periods in their home countries if this is something they desire.