Risk, Governance, Legal and Compliance functions are facing a changing talent landscape. While Australia’s broader labour market has seen some easing in skills shortages, specialist professional roles remain challenging to fill. Jobs and Skills Australia’s 2025 Occupation Shortage List found that 29% of occupations remained in shortage, down from 36% in 2023. However, around two in five professional occupations were still experiencing shortages. ( Jobs and Skills Australia ) For RGL&C teams, this matters because the demand for specialist expertise is being shaped by another force: increasing regulatory and operational complexity Regulation is raising the bar The expectations placed on organisations to identify, manage and respond to risk continue to evolve. APRA’s CPS 230 Operational Risk Management standard came into force on 1 July 2025, requiring APRA-regulated organisations to strengthen operational risk management, business continuity and third-party risk management. ( APRA ) The shift is significant. Risk management is increasingly about demonstrating that an organisation can continue operating through disruption, not simply having policies sitting on a shelf. That creates demand for professionals who can connect regulation with practical business outcomes. Specialist expertise remains hard to find Recent data from Chartered Accountants ANZ reinforces the challenge in adjacent risk and assurance disciplines. Its 2026 submission to Jobs and Skills Australia’s Occupation Shortage List found a high likelihood of Australia-wide shortages for Internal Auditors and External Auditors, based on vacancies advertised during 2025. The survey also found that the main reason vacancies went unfilled was a lack of experienced professionals. ( Chartered Accountants ANZ ) This points to an important distinction in the RGL&C market. The challenge isn’t necessarily a lack of people. It is a lack of people with the right combination of experience, technical capability and specialist knowledge. The RGL&C role is becoming more strategic As regulation becomes more complex and organisations face greater accountability for operational risk, RGL&C functions are moving closer to the centre of business decision-making. The professionals working across risk, compliance, legal, governance, audit and resilience aren’t simply responding to regulatory requirements. Increasingly, they are helping organisations understand uncertainty, prepare for disruption and make better-informed decisions. The takeaway: the RGL&C talent market is being shaped by two forces moving in the same direction: increasingly complex risk and regulatory expectations, alongside continued competition for experienced specialists. For organisations, building these capabilities early may be less about filling a vacancy and more about ensuring the right expertise is in place before the next regulatory, operational or business challenge arrives.
In today's changing economy, holding onto your valuable talent is more important than ever.
Why Partner with Perigon Group?
Risk, Governance, Legal and Compliance functions are facing a changing talent landscape. While Australia’s broader labour market has seen some easing in skills shortages, specialist professional roles remain challenging to fill. Jobs and Skills Australia’s 2025 Occupation Shortage List found that 29% of occupations remained in shortage, down from 36% in 2023. However, around two in five professional occupations were still experiencing shortages. ( Jobs and Skills Australia ) For RGL&C teams, this matters because the demand for specialist expertise is being shaped by another force: increasing regulatory and operational complexity Regulation is raising the bar The expectations placed on organisations to identify, manage and respond to risk continue to evolve. APRA’s CPS 230 Operational Risk Management standard came into force on 1 July 2025, requiring APRA-regulated organisations to strengthen operational risk management, business continuity and third-party risk management. ( APRA ) The shift is significant. Risk management is increasingly about demonstrating that an organisation can continue operating through disruption, not simply having policies sitting on a shelf. That creates demand for professionals who can connect regulation with practical business outcomes. Specialist expertise remains hard to find Recent data from Chartered Accountants ANZ reinforces the challenge in adjacent risk and assurance disciplines. Its 2026 submission to Jobs and Skills Australia’s Occupation Shortage List found a high likelihood of Australia-wide shortages for Internal Auditors and External Auditors, based on vacancies advertised during 2025. The survey also found that the main reason vacancies went unfilled was a lack of experienced professionals. ( Chartered Accountants ANZ ) This points to an important distinction in the RGL&C market. The challenge isn’t necessarily a lack of people. It is a lack of people with the right combination of experience, technical capability and specialist knowledge. The RGL&C role is becoming more strategic As regulation becomes more complex and organisations face greater accountability for operational risk, RGL&C functions are moving closer to the centre of business decision-making. The professionals working across risk, compliance, legal, governance, audit and resilience aren’t simply responding to regulatory requirements. Increasingly, they are helping organisations understand uncertainty, prepare for disruption and make better-informed decisions. The takeaway: the RGL&C talent market is being shaped by two forces moving in the same direction: increasingly complex risk and regulatory expectations, alongside continued competition for experienced specialists. For organisations, building these capabilities early may be less about filling a vacancy and more about ensuring the right expertise is in place before the next regulatory, operational or business challenge arrives.
