Financial services jobs outlook positive
Financial professionals in the market for jobs have reason to be optimistic with data showing positive employment figures across financial and insurance services despite recent volatility, political uncertainty, and interest rate cuts, according to Robert Half.
The recruitment firm's Australian Jobs Monitor examined the Australian Bureau of Statistics' (ABS') figures, which showed an increase of 800 roles across financial and insurance services between May and August 2016.
This represented a 3.6 per cent increase in finance employment, or an additional 15,000 roles compared to 12 months ago.
The steady growth compared favourably to the previous quarters' stronger growth, which pointed to a growing trend of businesses increasingly adapting to economic and political certainty.
Robert Half director, Nicole Gorton, said, however, that firms found it difficult to find finance candidates with the skills that suited available roles.
"Robert Half research has shown 89 per cent of CFOs (chief financial officers) in Australia say it is challenging to find skilled finance staff - primarily due to a lack of professionals with the required niche and technical skillset," Gorton said.
"The top three functional areas employers fund hardest to source are business and financial analysis, accounting, and financial management and control."
Employment growth within the sector was rising but at a slower place, and growth was most evident in part-time rather than full-time employment.
AUTHOR
Malavika Santhebennur
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
