I was hoping it would be déjà vu all over, again. As a recruiter that focuses on AML, compliance, fraud, regulatory compliance, risk, and legal roles, I had a surprisingly great four years during President Trump’s first administration when it comes to compliance recruitment. Between 2017 and 2021, there were three areas within the regulatory umbrella in the financial services industry that boomed:

What didn’t boom during Trump I was the number of compliance-oriented enforcement actions against the financial services industry. Regulatory compliance took a major hit. For example, in 2016, there were 198 enforcement actions by federal regulators. By 2020, the last year of Trump I, there were 105 (a 47% reduction).[1]

Additionally, the CFPB almost lost its mandate and only came out the other side by the skin of its teeth.

After the election in November 2024, I started planning and preparing for what was to come during Trump II (Trump’s second administration). I thought I had the secret sauce because I did well during Trump I. I am realizing now that history doesn’t always repeat itself. Or, maybe, to put it more quaintly: things used to be so much simpler. Here are my predictions for what will be hot and cold in compliance recruitment during Trump II. Let’s go back to the skillsets most in demand during Trump I.

Here are the areas where I expect an increase in demand for compliance and regulatory professionals, not only because of a lack of potential enforcement (ironically), but also because companies’ survival and growth are at stake:

• Tariffs on imports will lead to a higher demand for compliance professionals that can enforce those tariffs and make sure foreign countries aren’t obviating them.
• I see the biggest growth in demand for compliance talent in the crypto, DeFi and Web3 areas of financial services. Alternative finance is going to see a renaissance in the coming years, and there will be an increased demand for expertise in tracing illicit financing on blockchains, in general.

Unless there is a major recession, which is possible, the financial services industry –from your basic community bank to the largest crypto exchanges – is going to boom. The US is going to see an influx of foreign fintechs and financial institutions entering the market. I am already seeing this firsthand. Canadian, Argentine, and Middle Eastern fintechs, regtechs, services providers, technology providers and payments companies have been reaching out to me directly asking for help building compliance programs and teams. They have also asked for my help with sourcing sales and product evangelists who have experience selling compliance and financial crimes prevention tools. It’s hard to say, but I am hoping that an increase in the number of new companies and companies going through additional investment rounds will counter the potential decline in compliance recruitment needs because of deregulation and a lighter touch from the regulators. I truly don’t believe that it is well wishing. At this moment, my company and I are busier than ever trying to fill all types of compliance and fraud roles at traditional financial services institutions, fintechs, and management consulting firms. But it’s hard to read the Trump II tea leaves. We are hoping for the best and preparing for – not the worst – but the unexpected when it comes to compliance recruitment.

[1] chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://guidehouse.com/-/media/www/site/insights/financial-services/2021/fs_q32020enforcementactionstrackerfinal.pdf?utm_source=chatgpt.com

[2] https://www.barrons.com/advisor/articles/weeks-best-sec-trump-executive-order-c1f6c6c8?mod=barronsgooglenews