Contrary to popular belief, it’s not all gloom and doom in the Singapore job market.
Within the banking and financial services industry, hiring activity for front office roles was sluggish in 2016. However, due to MAS regulations surrounding financial crime compliance issues, there was a demand for compliance roles in regulation, financial crime, investigations, surveillance and monitoring.
This trend is expected to continue into 2017, according to Robert Walter’s Global Salary Survey 2017 findings.
In no particular order, here are the top in-demand roles within the banking and financial services sector in 2017, according to the survey’s findings:
- Credit risk
- Investment risk
- Operational risk
- Private client banking
- Wealth management
Hiring for front office banking roles is expected to remain slow in 2017 as more candidates shift from sell side to buy side. However, hiring managers will continue to seek investment professionals with a solid track record of performance and strong client bases this year.
According to Robert Walters, banks will continue to function in a stringent regulatory environment, driving a high demand for compliance roles. Moreover, professionals with experience in loan administration, trust and private banking support will be required to handle the changing regulatory landscape.
Due to regulatory changes in financial services operations, the recruitment consultancy also anticipates increasing demand for anti-money-laundering (AML) professionals.
However, the survey found that hiring managers and job seekers will remain cautious when it comes to recruiting talent and changing jobs. Market insights from the survey also suggest that salaries are expected to broadly remain the same across all industries in 2017.
That said, candidates with in-demand experience and skills can anticipate an average salary increment of 10% – 20% when switching jobs.
Robert Walters is a specialist professional recruitment consultancy with offices in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines.