It was almost inevitable that JP Morgan revealed that it had added 4000 staff to its compliance and risk functions, a disclosure that came in the same week that the bank agreed to pay over $920 million in fines for its "London Whale" trades. Hiring more staff has been a default response for banks who have been on the receiving end of big enforcement actions. But with a changing regulatory landscape and regulations becoming more complex, compliance departments are struggling to hire experienced staff that can integrate the rules into the firm's compliance program. Faced with demands for more specialized knowledge and with more exposure to liability, the financial services industry has begun adapting by, for example, hiring multiple chief compliance officers and considering group liability insurance for compliance officers. A report by the Securities Industry Financial Markets Association this year found the responsibilities of compliance officers had increased since the Dodd-Frank
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