Our pick of some of the most active jobs outside the front office in Singapore...
Product controllers with loads of qualifications
Increased demand in this function is due to a number of factors, in particular minimum replacement hiring last year, which meant that teams who lost staff were short handed for several months. Other reasons include the resumption of role migration from higher-cost locations into Singapore and an additional focus on up-skilling, says Craig Brewer, manager, banking and financial services, Hudson Sinagpore.
Between 2005 and 2007, banks were happy to hire candidates with generic back or middle-office expertise due to a local shortage of product controllers. Now, says Brewer, the benchmark for these positions is significantly higher. “Banks are seeking established product control experience, coupled with CPA qualifications as a minimum. Qualified chartered accountants can expect to be moved to the top of the list and will be paid accordingly.”
Regulatory reporting: overseas skills a plus
Why are there more vacancies? “This is mainly driven by the increasingly stringent regulatory requirements in foreign countries. With many banks now maintaining regional or global hubs in Singapore, they need candidates with a solid understanding of international regulatory requirements,” explains Sam Belcher, manager of banking and financial services, Ambition Singapore.
British banks, for example, want candidates with UK Financial Services Authority experience. “This is also because there are parallels with the basic requirements set out by MAS. There has also been a fair amount of turnover in local reporting functions, so there is a definite demand for more senior candidates in this area,” adds Belcher.
Change and project management
During the downturn, a lot of banks cancelled projects due to cost constraints, but so far in 2010, this sector is showing good signs of recovery, says Brewer. Singapore's global hub status has resulted in more projects being initiated across infrastructure areas, including finance, operations and IT. In addition, internal businesses increasingly have their own dedicated project teams.
Candidates with accounting and operations line experience, who are keen to move into change management, are in demand, says Belcher. “As the market picks up in 2011, we expect this to increase even further as banks try to gain market share.”
By Simon Mortlock
Product controllers with loads of qualifications
Increased demand in this function is due to a number of factors, in particular minimum replacement hiring last year, which meant that teams who lost staff were short handed for several months. Other reasons include the resumption of role migration from higher-cost locations into Singapore and an additional focus on up-skilling, says Craig Brewer, manager, banking and financial services, Hudson Sinagpore.
Between 2005 and 2007, banks were happy to hire candidates with generic back or middle-office expertise due to a local shortage of product controllers. Now, says Brewer, the benchmark for these positions is significantly higher. “Banks are seeking established product control experience, coupled with CPA qualifications as a minimum. Qualified chartered accountants can expect to be moved to the top of the list and will be paid accordingly.”
Regulatory reporting: overseas skills a plus
Why are there more vacancies? “This is mainly driven by the increasingly stringent regulatory requirements in foreign countries. With many banks now maintaining regional or global hubs in Singapore, they need candidates with a solid understanding of international regulatory requirements,” explains Sam Belcher, manager of banking and financial services, Ambition Singapore.
British banks, for example, want candidates with UK Financial Services Authority experience. “This is also because there are parallels with the basic requirements set out by MAS. There has also been a fair amount of turnover in local reporting functions, so there is a definite demand for more senior candidates in this area,” adds Belcher.
Change and project management
During the downturn, a lot of banks cancelled projects due to cost constraints, but so far in 2010, this sector is showing good signs of recovery, says Brewer. Singapore's global hub status has resulted in more projects being initiated across infrastructure areas, including finance, operations and IT. In addition, internal businesses increasingly have their own dedicated project teams.
Candidates with accounting and operations line experience, who are keen to move into change management, are in demand, says Belcher. “As the market picks up in 2011, we expect this to increase even further as banks try to gain market share.”
By Simon Mortlock
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