Getting your perfect position in Singapore in 2011: Where we see the opportunities

Java developers

“With many banks choosing to invest in growth-enabling technologies, we have begun to experience an acute talent gap for developers, in particular those with Java skills. They are required to undertake migrations and upgrades, and provide new solutions to increase efficiency in the front office. As demand increases, Java developers in Hong Kong are becoming few and far between, and we need to look outside normal recruitment avenues,” says Vicky Liu, consultant, Astbury Marsden.

UK and Australia-based developers typically earn high contract day-rates and are not interested in Hong Kong roles which are rarely as lucrative. “But candidates from India are still popular, particularly when vendors such as Wipro and Headstrong continue to grow and develop staff. Singapore also offers strong people, especially product-focussed technologists,” adds Liu.

She thinks the more “surprising” talent pool this year will come from Continental European countries, including the Netherlands, Russia, France and Germany. “Candidates in these locations tend to work on a permanent basis so once they have relocated, they are not only able to offer strong product knowledge and leadership, but they are more loyal than serial contractors.”

Operational risk

Operational risk candidates came into increased demand during the GFC and their importance is highlighted whenever a bank suffers from a high profile operational failure, such as an IT outage. “The pressure will be on financial institutions this year to identify and attract high calibre senior candidates with experience in implementing and developing contingency plans,” says Ben Batten, head of Kelly Selection Singapore.

However, because the growth of operational risk is relatively recent, there is a talent shortage and no ideal short-term solution to solving it. Banks are therefore considering candidates from internal audit and traditional risk backgrounds, according to Batten. “The challenge for most organisations is there simply isn’t a model that outlines how they are effectively managing this risk, and they are therefore struggling to come to terms with how to manage the myriad of variables.”

Business finance partners

There was increased demand for senior business finance partners at director and MD-level last year in Singapore, says Neil Dyball, manager, finance & risk, Robert Walters. These professionals deal directly with the front-office on strategic growth and capital management issues in order to reduce costs and maximise revenue-generation opportunities.

“We expect this trend to continue into 2011 as the market continues to evolve. This is an exciting time for the Singapore finance community as more opportunities are created within the front office, and having a lower cost base provides a greater opportunity to improve firms’ profitability. Singapore will continue to attract senior talent from around the world for business finance partnering roles,” he adds.

Do you agree that these sectors will be sought after? Will you be struggling or thriving on the job market this year? Let us know your thoughts below.

By Simon Mortlock