Candidates with regulatory experience will be a hot commodity in Hong Kong driven by newly launched securities houses by Chinese investors and expansion of the Chinese banks’ branches, according to recruiting experts Hays in Hong Kong.
This is one key finding from the latest Hays Quarterly Report, for the October to December quarter, which identifies the trend of the job market.
Dean Stallard, Regional Director for Hays in Hong Kong, says: “Candidates with regulatory experience are in high demand because of the aggressive expansion by Chinese institutions in Hong Kong. With increasing demand for cross-border trade and investment deal demand for proper candidates will become stronger.
“Hong Kong, as a dominant offshore RMB centre, is seen as an ideal marketplace for Chinese banks and securities companies to internationalise their businesses. It is a market with different regulatory framework than the mainland. In order to ensure a smooth running of their Hong Kong businesses, the Chinese firms will continue to actively seek professionals understanding local rules and laws.
“As wealthy Chinese people look to diversify their assets, allocating part of their money in overseas markets, asset management segment in Hong Kong is expected to grow by leaps and bounds. A rising number of asset management businesses and an influx of Chinese capital will result in heightened activity of capable financial professionals.”
Candidates with reporting and project experience are the preferred employees by banks amid increased standards and rules imposed on the institutions, according to Dean.
“Information technology is another sector that will see strong hiring in the quarter as companies put emphasis on security and risk,” says Dean. “High-skilled candidates will not only be chased by financial institutions, but also non-financial companies because of the increasing importance of risk-management at a time when economy slows down and business activities weaken.
“Companies are facing pressure from regulators to ensure robust risk management and compliance framework. This is going to benefit experienced professionals who will likely receive multiple offers as competition for right talent escalates.”
According to the Hays Quarterly Report for October to December, demand is highest for the following skilled professionals:
· Hays Accountancy & Finance:
Financial Planning and Analysis professionals – Commerce and financial services industries see greater demand for financial planning and analysis professionals.
Mid- to Senior-Level Accountants – A huge number of new positions will be created in the quarter by banking institutions.
· Hays Banking and Financial Services:
Compliance and Trade Surveillance professionals – The regulators’ heightened oversight on daily operations drives demand for experienced professionals..
Credit Risk Analysts – A rising awareness of risk control results in higher demand for credit risk analysts.
· Hays Engineering:
Extra Low Voltage Engineers – Ongoing projects at Hong Kong airport sees a need for extra low voltage engineers.
Data Centre Engineers – The fast and reliable internet infrastructure prompts employers to hire data centre engineers to ensure MNCs’ Asia-Pacific data centres.
· Hays Life Sciences:
Medical Affair professionals – Life sciences market remains consistent with demand for medical affair professionals continuing to rise.
Licensed Pharmacists – Licensed pharmacists will be highly sought after in the candidate-short market.
· Hays Information Technology:
Delivery Managers – A buoyant construction of infrastructure continues to drive demand for delivery managers..
Network Specialists – A big number of openings will be seen as companies step up go-digital drive.
· Hays Procurement:
Sourcing Managers – The move to reduce costs by companies creates substantial demand for experienced sourcing managers.
Category Managers– Many organisations are consolidate operations, hence increase hiring for category managers.
· Hays Sales & Marketing:
Digital Marketers – Digital marketers having B2B experience will be highly sought after.
PR and Events professionals – Enhancing brand awareness is a popular theme this quarter with demand coming from various industries.
· Hays Supply Chain:
S&OP Specialists – S&OP specialists are becoming increasingly important to employers looking to increase the efficient flow of information between their supply chains and sales functions.
Specialists in Order Fulfilment – A competitive industry has created a need for employers to ensure they can deliver their products to the customers in the most efficient manner possible.
To read the full Hays Quarterly Report, including candidate and employer trends and future issues, please visit http://www.hays.com.hk/report/index.htm
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
Hays is located in Hong Kong at 6604-06, 66/F, ICC, 1 Austin Road West, West Kowloon, Hong Kong.
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Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2016 the Group employed 9,214 staff operating from 252 offices in 33 countries across 20 specialisms. For the year ended 30 June 2016:
– the Group reported net fees of £810.3 million and operating profit (pre-exceptional items) of £181 million;
– the Group placed around 67,000 candidates into permanent jobs and around 220,000 people into temporary assignments;
– 22% of Group net fees were generated in Asia Pacific, 45% in Continental Europe & RoW (CERoW) and 33% in the United Kingdom & Ireland;
– the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees;
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA.