Bancassurance specialists – As major players with established Bancassurance distribution partnerships look to maximise revenue generation, we will see higher demand for candidates with distribution account management experience.
Risk & Compliance professionals – As the governance, risk and compliance landscape continues to grow, firms are trying to develop governance frameworks and processes that align corporate operations with regulatory requirements. Insurers who are looking to expand their businesses in new markets have to minimise business risk and therefore require
compliance talent. Compliance professionals with strong understanding of regulatory developments across the Asia landscape paired with skills to help management set direction for compliance programs will have a competitive edge over other candidates in the market.
High Net-Worth Brokers – Competition for high net-worth customers has been growing as every private bank seeks to grow its market share. The best channel for providing product diversification is through Brokers as they can represent a number of providers. With the growing demand from the private banks, various brokerages have now increased their presence and operations within the high net-worth sector.
Operational, Enterprise and Information Risk Managers – Insurers who have plans to grow in Asia are becoming more aware of the long-term benefits of strengthening their risk framework. With their risk framework still under development, less developed countries are relying on the best practices of key markets. Risk professionals who have an understanding of the complexities of insurance businesses, and have the skills to translate large amounts of information into measurable risk and control pillars to help management identify and prevent key risks, will be the most in demand.
For most of 2014 we experienced mainly replacement positions within the insurance sector in Hong Kong. This year we expect to see more new roles in the areas mentioned above, with permanent recruitment remaining stable.