As the name suggests, the United Kingdom is a union. This union is comprised of four constituent countries, namely, England, Scotland, Wales and Northern Ireland. From the widespread use of English to the adopted approach to law, the United Kingdom’s influence has been considerable.

Today, manufacture still contributes to the economy, the fifth largest in the world, but the lion’s share of the GDP comes from the service sector. Within this sector, the primary economic strength rests with the financial services. The influence and power of the British banking and insurance services is such that London is the world’s leading financial centre. Not only is this city home to the London Stock Exchange, but its strength within the global financial services is such that it has more foreign bank branches than any other country. Of course, such prominence and power make the city a primary focus for international business. Included with New York and Tokyo to form the three-pronged hub of the globe’s financial core, London leads the three.

Although England is not the only one of the United Kingdom’s countries to have a strong area of influence within the financial services. Edinburgh, Scotland’s capital city, is also one of Europe’s major financial centres.

As a country with such a large concentration of banks and such powerful financial services, it is one of the most coveted places for all who hope to achieve a successful compliance career. The opportunities for dedicated professionals are many, especially for those who are able to work under pressure and get results. In the UK Banking Compliance typically covers Anti Money Laundering regulations which form only a small part of the wider Financial Services Authority regulatory regime. Additionally there are a number of self regulating bodies such as the Mortgage Code and Banking Code that most financial institutions subscribe. Once a tick box approach, the sector has developed considerably into a modern risk based approach to Banking Compliance. In part this is due to advances in UK and European Union regulation which became significantly more proactive following the failure of Barings Bank.

At almost every level, there are great compliance career opportunities for the right candidates. It is generally a progressive environment and those with additional qualifications and a talent for versatility will be appreciated.

Along with the wealth of career prospects in the banking sector, this milieu of global economics is rife with opportunities for those looking to start or further careers in compliance. Not only within the financial services themselves, but within the many affiliated industries, as well as the fast developing telecommunications and IT industries. All require astute individuals who are able to apply themselves to understanding the complexities of the many regulations which exist and are prone to change. Aside for the pure pleasure of working in one the most historical and culturally rich countries, the potential for career advancement is considerable.