Many financial firms are planning to let traders and other personnel work remotely even after the current pandemic is subdued, says Greenwich Associates.
In a new report, the firm said that a survey of 210 industry compliance professionals found that only 4% expect their firm to fully return to traditional work arrangements — that is, being in the office every day — once the pandemic subsides.
The report added that two-thirds of global firms expect that traders and other key personnel will continue working from home in the future.
“Even for the few firms determined to fully return to a pre-pandemic office presence, maintaining a work-from-home capability will be essential, since U.S. and European regulators have clearly communicated the necessity of a flexible infrastructure conducive to working remotely,” said Danielle Tierney, senior advisor at Greenwich Associates, in a release.
The report noted that firms have increasingly prioritized compliance to enable remote working amid the added risk of decentralizing oversight.
Greenwich also reported that approximately three-quarters of respondents said that they “strongly agree” that their firm considers compliance standards to be “highly important,” up 11% from a similar survey last year.