Four more fantastic jobs for the new year
Here are some more sought-after job sectors, to follow up on last week's report.
Relationship managers, business lending
Business lending is more profitable for banks (and commonly referred to as less risky) than residential lending. Every firm - the big four, second-tier banks and commercial banks - which operates in the business lending market is set to go after a larger share in 2011, says Nick Hill, senior consultant, Reed Banking & Finance.
"There is obviously only one 'pie' and not every bank can therefore increase its share, so high performing relationship managers will have multiple offers in most instances. Candidates with current business lending experience will be most sought after. However, banks will also be forced to look at those with retail lending experience as demand for candidates will outweigh supply," adds Hill.
Analysts, leveraged finance
Momentum is starting to build in the debt markets after a tough couple of years, and with continually improving market sentiment, demand for analysts within leveraged finance is increasing, according to Arabella Nicholson, consultant, Platinum Pacific Partners. "Leveraged finance divisions that had held onto their top senior talent during the downturn are now looking for good quality analysts to support the business as the number of transactions in the market rises going into 2011/2012," she explains.
Firms generally want highly numerate modellers, with credit-writing skills and experience managing complex due diligence processes. Competition amongst candidates is tight. "Only those with a couple of years solid experience in either an investment bank or as a leveraged finance analyst at one the domestics, who also have great academics, are getting a look in. It's an exciting time as the top firms are now looking to expand previously dormant teams to retake market share," adds Nicholson.
Financial services lawyers
Regulators are flexing their muscles in Australia and across the APAC region. "Greater emphasis is being placed on regulatory compliance. In particular, there is strong demand for lawyers at the mid to senior level with fund formation experience and alternative investment/private equity fund experience," says Chris Meharg, head of legal & compliance, Tardis Group.
Lawyers in this area will have good job opportunities this year, both in private practice and (increasingly) in house. "Candidates who have experience working with regulators such as the ASX, SGX, HKMA or SFC are also in demand, especially those who have worked in the licensing and enforcement departments of those regulators and are interested in moving to the other side of the fence and joining an in-house team," comments Meharg.
Six Sigma
Increased demand for professionals with knowledge of Six Sigma is anticipated in 2011. Although Six Sigma stems from the manufacturing industry, banks are increasingly adopting the methodology to drive productivity and hone core business areas, says Sara Coakley, senior consultant, Morgan McKinley.
Six Sigma experts will be called upon to drive end-to-end process redesign across complex products, segments, and distribution channels, according to Coakley. From "yellow belts" to "master back belts", Six Sigma professionals will work with stakeholders across the bank to document processes, challenge existing metrics, put fundamentals in place, and implement changes.
"This culture of continuous improvement should be driven from the top. Experienced project managers are required to successfully make significant changes, build a productivity pipeline and optimise business outcomes. Banks in Australia are already fishing from a small and competitive talent pool of experienced Six Sigma practitioners and many are looking overseas," she adds.
