Banks have ramped up their risk and compliance staff in the face of mounting pressure from regulators but it's coming at a cost with recruiters saying salaries have rocketed up amongst a shortfall in locally qualified people.

ANZ - New Zealand's largest bank - says it increased the number of people working in risk and compliance by 33 per cent in the year to July.

That comes on the back of ASB bank's increase which saw it add more than 100 staff in that area in the year to June with more hires to come.

A spokesman for Westpac said

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