Photo:  RCTSystems.com]

During Friday’s earnings call with analysts, JPMorgan CFO Marianne Lake said that the bank has increased its spending on all controls by $3Bn over the past “several years,” but this is now expected to start “bending down” as JPMorgan’s processes “mature” and are automated.

Last December, Credit Suisse said compliance costs had plateaued, while a report from McKinsey & Co. suggested that all efforts now are on automating the regulatory functions rather than showering them with additional money and headcount.

Goldman Sachs is a case in point. The firm is currently looking for at least four people to join a new regulatory operations team in its Warsaw technology hub. Candidates need to be experts in programming and big data. Previous compliance experience is not necessary.

While the timing for implementing such technological advancements is, at best, uncertain, it’s probable that solutions will begin cropping up over the next couple of years.

This being the case, the contemporary army of compliance monitoring and control room professionals might want to learn how to code: the new compliance jobs are not the same as the old ones.