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Hiring trends for Asia's banking and financial services sector in Q2 2017

Global recruitment specialist, Ambition has recently released it Banking & Financial Services Market Insights Q2 2017 report for Malaysia, Singapore and Hong Kong. Some of the key findings included:

  • Malaysia sees a strong demand for business change teams, process engineers, business analysts, and project managers.
  • Singapore expects a continued demand for experts in regulatory reporting, as well as capital and liquidity management.
  • In Hong Kong, the demand for private equity professionals continues - especially around funds, investments and corporate accounting.

Hiring and salary trends in Malaysia

In Q1 2017, Malaysia continues to see the trend of global banks migrating and building functions in its capital, Kuala Lumpur (KL) - leading to career opportunities for the professionals in the banking and financial services sector.

As these functions are still considered new to Malaysia, there was a short supply of local talents to meet this demand. Hence, banks continued to focus on attracting expat expertise who could build and develop talented, sustainable teams with the pool of local and returning Malaysian professionals.

Additionally, core growth areas are seen across investment banking, wealth, risk and anti money laundering (AML)/ compliance operations, as organisations work on keeping up with global regulatory standards. On that note, the report saw a demand for professionals who could support growth in these areas.

As expected there was also a strong demand for business change teams, process engineers, business analysts, and project managers due to the continued migration of regional and global processes to KL. As it goes through Q2, similar hiring trends is expected for the industry as the market continues to mature in Malaysia.

ALSO READ: Banking sector in Malaysia spends only about 3% of payroll on training annually

Additionally, some of the highest paid roles include head of product control, regional financial controller, head of operations, and programme manager - which may start from an annual salary of RM220k and can go up to RM300k.

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Table / AmbitionPhoto / 123RF

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