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If you aren’t already familiar with Richard Abelson (unlikely! He's infamous on LinkedIn for his proud dad posts and his time on Dogs Behaving Badly with lively maltipoo, Queenie), he is Managing Director and co-founder of MERJE.
With over 20 years of experience in Compliance and Risk Management recruitment, Rick is an expert in talent and recruitment services within the financial services sector.
Based in Manchester, Rick, along with his brother, Jonathan Abelson, and colleague, Edward Manson, founded MERJE in 2011, growing it into a leading specialist recruitment firm with offices in London, Manchester, and Glasgow.
In this Q&A, Rick chats to RiskSmart, a risk management platform that puts simplicity first, about the latest trends and updates in the Governance, Risk & Compliance market.
💰 Stringent budgets for GRC functions in 2024 mean that many businesses will be choosing between tech upgrades and recruitment. What advice would you give to those making this decision?
Tight budgets force tough choices but it doesn’t have to be one or the other. My advice would be to prioritise technology that automates and simplifies tasks, freeing up your GRC team's valuable time for more strategic work.
Upskilling your team on tech that enhances their ability to do their jobs rather than replaces them altogether will be more cost effective than hiring new talent and shows that you’re committed to investing in your staff’s long-term development.
Take RiskSmart, for example. It’s a risk management platform that replaces manual risk management processes. Your risk team can stop spending hours a day staring at spreadsheets and wading through data and instead focus on delivering actionable insights and meaningful MI much more efficiently than they have done in the past.
💻 With the advancements in technology and Artificial Intelligence (AI), how do you see the role of risk technology evolving in the future, and what impact might this have on GRC teams and recruitment?
Technology is continuing to transform businesses at a rapid rate, the latest trend being AI-powered tools which are automating tasks like data analysis, scenario testing, and regulatory change tracking. This frees up GRC professionals to focus on strategic initiatives, exception handling, and providing actionable insights to leadership.
For recruitment, this means a growing demand for professionals with both technical and soft skills. GRC teams will need individuals who understand AI's capabilities and limitations, can translate risk data into actionable insights, and effectively communicate with both technical and non-technical stakeholders.
"For GRC to be effective, it must be proactive and integrated into the wider business strategy."
⚠ What are some common misconceptions or challenges that businesses face when it comes to recruiting for risk management and compliance positions?
There is a variety of hurdles GRC leaders can come up against when looking to add talent to their teams…
❌ “Compliance is a box-ticking exercise”
For GRC to be effective, it must be proactive and integrated into the wider business strategy. Look for candidates who understand the bigger picture and can translate regulations into practical solutions and positive action plans for your business.
❌ “Degrees and industry-specific qualifications are vital”
While university qualifications and risk/compliance accreditations are valuable, they’re not the be all and end all. Although they do show a level of commitment to pursuing a career in the industry, a candidate with them isn’t always better than one without. Insisting on only candidates with certain qualifications means overlooking highly capable individuals who fit your other criteria.
❌ “Candidates must have everything on the person spec”
Transferable skills, adaptability, and a proactive attitude can be much more valuable to your business than being a perfect match on paper. Discounting candidates because they don’t check every box on the person specification means missing out on dozens of qualified individuals.
❌ “Our generalist recruitment partners will provide CVs for this”
Companies often revert to their generalist recruitment partners with new vacancies but miss out on top talent in doing so. These agencies may not have the vast networks and deep connections in the specified talent pool, which means relying on job seekers actively applying. This is a very limited pool.
Partnering with specialists like MERJE taps into a wide network of passive candidates - highly skilled individuals who may not be actively searching but will be open to hearing about roles and are reachable through our strong relationships built over decades.
🎯 How important is cultural fit within financial services organisations when considering candidates for risk management and compliance roles, and how do you assess this during the recruitment process?
Cultural fit is paramount for any business but particularly in Governance, Risk & Compliance functions as GRC professionals need to integrate seamlessly into their own team whilst working in harmony with other teams too.
Embodying the organisation's values and promoting the GRC mindset as an enabler of positive business activity, rather than a blocker, requires people who can build relationships with all areas and levels of the company. Here's how to assess it:
✅ Behavioural interviewing:
Ask questions about past experiences that reveal how a candidate handled challenges and collaborated with others to reveal their working approach.
✅ Team fit:
Involve a variety of team members in the interview process to assess how the candidate interacts with potential colleagues.
✅ Company culture research:
Clearly define your company culture and ask specific questions about candidates’ values to identify those who resonate with it.
✅ Work Simulation Tests:
Provide realistic scenarios that mimic the daily work environment to assess a candidate's decision-making, communication style, and problem-solving ability.
🧩 What role do you see diversity and inclusion playing in risk management and compliance recruitment, and how do you ensure diversity in candidate pools?
Diverse and inclusive GRC teams bring a wider range of perspectives to the table, leading to more robust risk management strategies and an improved company culture overall.
Battling under-representation is something we’re strongly committed to at MERJE, which is why we launched our MERJE Together pledge a few years ago and regularly share D&I advice, guidance, information, and reports.
We employ an array of approaches to promote D&I and prevent bias and discrimination in the recruitment process, including regular D&I training for our staff, using D&I-focused job boards, anonymising CVs before submitting them to clients, and more.
We can tailor our recruitment strategies to clients’ specific needs and are happy to discuss this with any businesses in need of support in this area.
"Any business not offering flexible and hybrid working options nowadays is behind the curve..."
🔑 What is the key to an effective hiring process for risk and compliance roles?
Start with a clearly defined role profile, as well as a job title and salary which truly reflects the responsibilities. Inflating the job title or assigning too senior duties to a junior role risks confusing candidates or deterring them with low salaries and false job descriptions.
I would also say to keep an open mind about the level of candidate you’re seeking, when possible. Considering a ‘stepper upper’, someone who is slightly more junior than the person specification suggests, often gives you candidates with more drive and determination to take the role on and prove themselves, as well as bringing a fresh perspective versus someone who has done the role countless times before.
In terms of salary and remuneration, be flexible when you can. Too many firms miss out on their ideal candidate for the sake of a couple of £1000 because they have rigid salary bands. Think of the time and money wasted starting the recruitment process again, and the risk of not finding someone else. Does this outweigh the £5k bump in salary you could have offered to secure your first-choice individual?
Having said that, if your company’s salary bandings are set in stone, what else can you offer to tempt the candidate? The desire for flexible and hybrid working options has gone through the roof. Any business not offering this nowadays is behind the curve and surely missing out on talented people.
💡 With a raft of regulatory updates coming in 2024 and beyond, how do you see these affecting businesses and their recruitment strategies?
The current regulatory landscape presents significant challenges, with FCA initiatives like Consumer Duty, the Dear CEO Letters, and the Motor Finance discretionary commission investigation demanding close attention.
My advice during these times would be to maintain a strong situational awareness within your leadership team. Staying informed allows for proactive strategy adjustments and a more confident approach.
Also make sure you’re leveraging the expertise of your recruitment partner. Our team actively monitors regulatory developments to ensure we can deliver solutions that fit your current needs, so we’re readily available for consultations, discussions, or to offer tailored advice.
After all, we’re here to provide a consultative service, helping you to understand what the right approach is to the challenges you’re facing – a new staff member, a new team altogether, an interim specialist, or no recruitment at all – we’ll be honest about what is best for your business right now.
We also speak to many other firms in similar positions so we have plenty of insights and market intel that can help you to make the right decisions.
Finally, businesses are increasingly seeking interim skillsets via consultancy firms to navigate these periods of uncertainty and change. While consultancy firms offer the required expertise, they can come at a significant cost.
MERJE can offer a more cost-effective and adaptable solution: specialist contractors delivered through a streamlined recruitment process. This can be a much more flexible and manageable solution for many organisations.
Give me a call or drop me a message if you’d like to discuss the options available:
📞 0161 883 2748
📱 07973 317 891
📧 rabelson@merje.com
MERJE excels in Governance, Finance, Operations, Insurance, and Data & Analytics recruitment, delivering tailored solutions and fostering long-term relationships across the Financial Services industry. Get in touch todayto discuss your career path or recruitment plans.
RiskSmart is a risk management platform that puts simplicity first. Whether you're tired of spreadsheets, outgrowing your processes, or just want everything in one place, RiskSmart keeps you confident and compliant. Book a demo or find out more on their website >
