Increased control and compliance in the banking sector is ushering in soaring demand for auditors in Hong Kong, according to recruiting experts Hays.
“Banks are focusing on internal control to minimise risks in a slowing market,” says Dean Stallard, Regional Director for Hays in Hong Kong. “More audit and compliance professionals are urgently needed as companies focus on expanding their auditing teams.”
In its latest Quarterly Report for April to June 2016, Hays observes that the gap between the supply and demand of audit professionals in Hong Kong is widening, with employers finding it increasingly difficult to fill vacancies.
“Audit teams are expanding fast in Hong Kong as employers ramp up their hiring activity,” says Dean. “Unfortunately, the size of the talent pool in Hong Kong remains unchanged, making it more challenging for companies to find suitable candidates.”
Hays also expect that new roles in compliance and risk management will open up this quarter.
“We expect to see increasing movement in the market post-bonus season as candidates look for new opportunities to further develop their career.” says Dean.
Aside from audit and compliance professionals, companies are also seeking regulatory reporting accountants familiar with Hong Kong Monetary Authority guidelines to meet regulatory requirements.
“We are also seeing a high demand for management accounting and financial planning professionals as companies revamp their businesses to pursue further growth in the region,” Dean says. “Those candidates with a strong analytical mind coupled with excellent communication skills will be highly valued.”
In terms of candidate trends, Hays says that candidates are trying to move into the compliance area because of stronger employer demand. Professionals with an audit background stand a good chance due to their transferable skills.
“Where some companies aren’t able to offer permanent roles due to budget constraints, they are willing to grant employees a six month, or one year contract,” says Dean. “For candidates, temporary roles are a good option at present until companies start to approve new headcount when business recovers.”
To read the full Hays Quarterly Report, please visit https://www.hays.com.hk/report/index.htm
Hays is located in Hong Kong at 6604-06, 66/F, ICC, 1 Austin Road West, West Kowloon, Hong Kong. Phone +852 2521 8884 or email firstname.lastname@example.org.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
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For further information please contact Esabella Yeung, Marketing Executive SEA, Asia at Hays, on +65 6424 0158 or Esabella.Yeung@hays.com.sg