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There are more GRC roles than ever

Wednesday 7 February 2018

There are now more GRC positions available for job seekers than ever, in the face of major compliance failures and increasing domestic and international regulation.

Since 2015, GRC roles have been steadily rising, according to findings by GRC Institute’s Registered Training Organisation (RTO) Manager John Saunders.

However, despite the increased need for these types of professionals, the profession itself is yet to be formally recognised by other entities.

“I did this spreadsheet for two reasons,” Saunders explained to GRC Professional. “One was for a thought leadership piece and the other was to highlight the lack of recognition for GRC by government agencies—namely, the ATO, ANZCO [Australian and New Zealand Standard Classification of Occupations] and the Australian Bureau of Statistics (ABS).”

Saunders has been monitoring governance, risk and compliance roles on SEEK, an online employment market place, since 2015. Initially, when Saunders looked at the data, there were 6,714 roles in compliance, 5,538 rules in risk and 1,312 in governance. Cumulatively, GRC roles numbered at 13,564.

In 2018, GRC positions number at 28,418, with compliance at 13,345, risk at 12,071 and governance at 3002.

According to the ABS, however, there are no compliance officers or compliance managers. When asked why, Saunders was told that very few people actually indicate that as their role, and instead choose another title from the list.

“I asked why it was not on the list, since you have to choose something that is on the list, I was told other information should be sent—such as facts or data—to support the case,” Saunders said.

In his thought leadership piece for the Graduate Certificate in Compliance and Risk Management, looking at the state of GRC in Australia, Saunders writes:

According to the ANZSCO and the ATO, occupations or roles with a GRC component barely exist. The ANZSCO list has been revised three times in the last decade and has swelled with the creation of dozens of new occupations, such as Procurement Manager, Intellectual Property Lawyer and Kennel Hand, but only one job category within GRC: Financial Risk Manager.

He continues:

Only four occupations, (finance managers and medical practitioners), have job descriptions that mention ‘compliance’. No occupations list ‘governance’, although the Australian Tax Office has expanded some job categories, beyond ANZSCO, to recognise sub-categories, such as Company Secretary-Governance.
Saunders writes that, ‘at best’, GRC is viewed as ‘just’ a small component of other professions.

It is difficult to reconcile the dissonance between the needs of organisations and the perspectives of government agencies.

Tongue-in-cheek, Saunders writes that “Where ABS and ATO see nothing much, employers and employees SEE(K) a different reality.”

Visit our GRC Job Board here for up to date opportunities in your area!