Corporate Banking Relationship Managers – Experienced Relationship Managers are in demand, especially those able to bring onboard new clients to immediately impact revenue growth. Cross-selling and a focus on product lines will be a priority for most banks. Local Corporate and China Corporate Relationship Managers are in highest demand due to increasing cross-border trade.
Commercial Banking Credit Approvers – Increased business flow resulting from the addition of Local Corporate and China Corporate Relationship Managers has created the need for experienced Approvers to join the banks to review and approve transactions. Due to the banking industry’s limited appetite for credit, Approvers will play an important role in balancing the risk and reward for bank portfolios but there is currently a lack of skilled and experienced candidates in the market.
Credit Analysts – With the increase in Relationship Manager roles comes a need for Credit Analysts who can assist with the management of client accounts.
Counterparty Credit Risk Managers – Investment banks require Counterparty Credit Risk Managers who are fluent Mandarin speakers and are specialists in corporate or financial institutions.
Transaction Banking specialists – Demand has been especially high for trade, cash and factoring sales. These are product specialists who work alongside Relationship Managers to promote cash, trade, structured financing and other customised solutions products to increase cross selling opportunities.
Private Banking Compliance – Candidates at VP/Director level are being offered very enticing packages due to the current shortage of these professionals. This is even helping to attract buy-side candidates, who are willing to switch back to sell-side if they are offered the right conditions.
AML Advisory – This remains an area experiencing high levels of activity and AML candidates at all levels are sought after. Those who have a track record in the KYC/AML/Onboarding space and have up-to-date regulatory know-how, such as FATCA, Dodd Frank, EMIR and MiFID2, are the most highly regarded.
Compliance Change Program Managers – Most banks are rolling out their regulatory change programs, which have created high demand for these professionals. There has been significant hiring activity across the ‘bulge bracket’ banks. The mix of PM and compliance endows these roles with more dynamism, so candidates with very strong interpersonal skills and relevant PM and compliance experience (especially AML Advisory) are in strong demand.
Some foreign banks that cover business in China will create new roles for Relationship Managers and Credit Analysts, but most will be recruiting on a business as usual basis or as replacement opportunities arise.
Mainly permanent roles, most of the jobs in transaction banking are replacements. Most Relationship Manager roles are new positions.
Candidates are becoming more savvy when job searching. They will now do their own background check on the Line Manager as well as company before accepting any offer.