Employment outlook remains positive due to digitalisation and new regulations
By Wendy Weng
In the Asia Pacific region, skilled and experienced tech professionalsand regulatory compliance specialists will find themselves well-positioned in the banking and financial services market
There was an article hiring of tech talent in Asia Pacific last year, and this trend is set to continue in 2019 on the back of continuous development of Fintech and financial services companies' ongoing digitalisation efforts. Those talents with specialist skill sets such as data analysis, blockchain, artificial intelligence, machine learning and cyber security will remain in high demand. Despite relatively stable salary growth across most roles, those tech professionals who equip themselves with niche skills can expect 30% increments or more when moving roles in Hong Kong, according to the salary survey released by Robert Walters in 2019.
In addition, the recruitment of those professionals with specialised knowledge of new rules and regulations and expertise in risk, legal, audit and compliance will remain active amidst the evolving regulatory environment and growing financial industry. The tightening regulations aimed at combating fraud and money-laundering activities continue to fuel the strong demand for anti-money-laundering and financial crime compliance specialists. In Indonesia, the banking mergers and reorganisation of company structures will generate significant recruitment activity in 2019. In terms of banks' front office roles, there will be continuous demand for relationship managers in private banking and wealth management, as well as wholesale and commercial banking.
There is growing trend of hiring managers actively looking for candidates with international experience, candidates from overseas and from other industries where skill sets can be applicable, mainly due to regional and international business expansion and the limited talent pool. In Taiwan, the government has passed the Act for the Recruitment and Employment of Foreign Professional Talent, which relaxes several rules for expatriate employees and their family members and makes it easier for them to reside and work in Taiwan. Besides, in markets like Hong Kong and Singapore, there is expected to be continuous need for contract-based professionals. Employers are encouraged to keep the recruitment process streamlined and offer competitive compensation packages and learning and development opportunities to attract and retain talent.
Banking Industry Salary
Keywords: Financial Services, Fintech, Technology, Blockchain
Region: Asia Pacific