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
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
