Financial planners and analysts will be in demand in Australia’s banking and financial services sector over the next six months, according to the latest report from specialist recruitment consultancy Robert Walters.
The Robert Walters Job Market Update found that banks will be looking for experienced candidates and those with business partner experience who can support revenue generating activities.
Changes to regulations and reporting standards will also lead to increased hiring of candidates with process improvement, project management and risk and compliance-based skills.
Kevin Fitzgerald, Manager Banking Accounting and Finance at Robert Walters in Melbourne, says the market is still cautious.
“But we have seen positive signs from the major banks, national insurance providers and wealth management organisations,” he says.
“Over the next six months, hiring managers will be looking to replace talent that is leaving, as well as growth areas following periods of restructure over the past six to 12 months.”
There will be a shortage of candidates available for temporary roles because there has been a drop-off in young accountants arriving from the UK and Ireland because the markets there have picked up.
Recruitment levels in regulatory change teams has fallen as firms look to move existing staff rather than hire externally.
Robert Walters conducted a national survey of more than 1,200 Australian hiring managers on their recruitment strategies for the next six months.
The Hiring Intentions Survey found:
- 44% of banking and financial services hiring managers expect their hiring levels to remain the same, 32% are less likely to hire in the next six months, and 21% are more likely to hire
- 73% of banking and financial services hiring managers will be looking to recruit mid-level professionals in the next six months.
- 38% of hiring managers said wages will increase in the next six months, 59% said salaries would remain the same, and 3% said salaries would decrease.
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