Dodd-Frank has already affected many banks, which are still rushing to figure out the nuts and bolts of every mandate. The law is comprehensive in scope. So at JPMorgan Chase, executives and managers are studying the "hundreds of work streams" studying what potential impact the bill would have on operations and services.

According to Crain's, Citibank just rehired its former treasurer, 41-year-old Zion Shohet--who had left more than a year ago-"not to be treasurer again, but instead to be an executive vice president in charge of all things Dodd-Frank." You can bet other financial firms are all going through much the same. They have their task forces and strike teams to figure it all out. This will likely require some new hiring.

Despite a tough hiring environment, "more financial firms are aiming to hire compliance managers, lawyers, accountants, regulatory analysts and any other back-office professionals who can help steer them through the minefield that is the Dodd-Frank financial reform bill," reports Crain's.

The hiring effort has encompassed software developers and information technology specialists. Any IT executive with heavy compliance experience just might find himself or herself in heavy demand. A survey last month by IBM suggests that an IT hiring effort is underway. About 45 percent of 240 Wall Street IT professionals polled expect their budgets to increase this year, vs. 18 percent last year.

Another report finds financial services firms will spend more on operational risk and GRC IT, growth will average a rate of 6.5 perecent a year through 2013.

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