Signs of life in financial services recruitment
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Despite a rising unemployment rate, the banks and companies in financial services are cautiously hiring again.
Recruitment firm Hays said in its most recent Quarterly Report that staffing in the banking and investment sectors is on the rise, while there remains steady demand in insurance.
“The wealth creation sector improved last quarter. Permanent roles are now offered, which indicates longer-term recovery. This is a welcome change since previous quarters saw redundancies outnumber new appointments,” said Jane McNeill, senior regional director of Hays Banking.
McNeill said while the banking sector is cautious about recruitment, the improved general outlook has meant companies are being allowed to create new roles and recruit for vacancies.
“Recruitment activity at the executive level has also improved, with some key executive positions appointed, largely within the risk, compliance and credit restructuring spaces,” she noted.
“High-level positions such as regional managers and institutional roles with remuneration packages between $150,000 and $200,000 have been released.”
In particular, Hays Banking reported employers are hiring candidates with industry-specific banking skills as opposed to generalist business development management skills. And with a tighter regulatory environment, there is great demand in risk and compliance areas.
Also on the banking side, Hays said the big four banks are looking for “mobile lenders”.
“Those with loan assessment experience in both residential and commercial sectors are an area of demand for temporary assignments. Due to restructures, those with strong banking backgrounds are sought for high-level branch-based roles.”
In the insurance space, specialist roles for candidates with relevant insurance claims backgrounds are available, particularly in retail. Also in demand are superannuation fund administrators and quality services candidates to meet increased interest from clients on investments and loans.
“Financial services, settlements and credit assessors remain busy markets due to turnover, restructures and housing products,” Hays Banking said.
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