, Singapore

Local technology and banking hiring to persist in 2019

IT savvy employees are in hot demand due to technological disruptions across all industries.

Local hiring for technology, banking, sales, marketing and change management professionals is expected to remain active in 2019 with competition for top talent forecasted to be fierce, according to Morgan McKinley’s 2019 salary guide for Singapore.

In the accounting and and finance sector, candidates experienced in regulatory reporting are in high demand, whilst banks are increasingly looking to hire trade finance operations specialists. Larger banks are expected to invest more in finance candidates that can engage with senior stakeholders, as well as juniors that show a forward thinking mindset, the firm highlighted.

Also read: Digitally-driven internal auditors to be in hot demand in 2019: report

According to Amy Wilson, finance & operations associate director for banking and financial services recruitment at Morgan McKinley, private equity and real estate firms have been outsourcing their fund accounting work to administrators since the beginning of 2018.

“There will still be fund accounting roles in fund services throughout 2019, however I expected a downturn in fund accounting roles within the bigger fund management firms, as they are slowly divesting their investments or offshoring to low cost locations,” she added.

Risk and security will also remain as key topics for both the IT sector and risk management industry. Following the string of cyber attacks, third party breaches and fraud attacks Singapore has faced in the last year, stronger emphasis on risk management and cybersecurity will underpin Singapore’s hiring landscape.

Also read: Daily Briefing: Singapore hit by another massive cyberattack in HIV data leak; Facebook to set up election monitoring centre in Singapore

“Enterprise risk management has also been seen in a new light, as it gives a broad overview of multiple risk types such as vendor risks, compliance risks, IT asset risk, strategic risk and financial risk,” Bella Phea, senior consultant for banking and financial services recruitment at Morgan McKinley, said. “With the enhancement of regulations and its impact on risk management, organisations will continue to hire with a focus on regulatory risk, conduct risk and often utilise auditors’ knowledge for insights.”

Meanwhile, Morgan McKinley noted that specialists with skills and experience in analytics, applications, data science and the Internet of Things (IoT) will be placed high on the list of hiring managers in the engineering sector as the amount of data the industry works with continues to increase at an exponential rate.

Also read: Digital skills and social media activeness amongst top talent trends for 2019

The report also highlighted how soft skills such as sharing, collaborating and negotiating will continue to be important in order to empathise and interact on multiple levels as people move between roles and experiences.

“Competition for top talent will be fierce and candidates should keep in mind that languages and softer skills will be key competitive advantages,” Morgan McKinley Singapore’s managing director Gurj Sandhu said in a statement. Local talent will also be in high demand particularly in with employers within the sales, banking and marketing industries expressing interest in recruiting and training Singaporeans amidst stricture rules for firms wishing to hire foreign workers. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

C&W Services transforms headquarters into a ‘living lab’
The new office is set to be the ground for the firm’s new facilities management technologies.
How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.

Event News

Event News