The landscape for the financial industry has changed dramatically since emerging from the Global Financial Crisis.
This is apparent in the current period of consolidation and restructuring among financial institutions – they are taking a hard look at their businesses and coming up with new growth strategies that are aimed at bolstering their balance sheets within conservative risk parameters.
Understandably, the mood is sombre but at the same time, there are silver linings on the horizon. Financial services constitute a large core of economic activities in the major developed economies, and increasingly so in the emerging economies.
As companies start focusing on the basics of their businesses and doing well in their specialty areas, the financial industry could well be poised for the next upturn once the signs of economic recovery are clear.
Firms are well aware of this and taking the current time to strengthen the quality of their people. Depending on how well they survived the financial crisis; firms are having varying degrees of success in attracting the best talents in the market as job seekers yearn for stability and clarity in strategy with those brand names they have confidence in.
The attractiveness of working in the financial industry is clear – besides the usual perks of remuneration and status, the industry also employs some of the brightest talents in every cohort who enjoy working in the forefront of commerce, innovation and technology.
Whether you are a HR specialist, a Marketing professional, or an IT professional, the financial industry boasts of having a strong representation of the best people in every job domain and function in addition to the usual functions of finance and banking.
What then is the outlook for financial jobs in the next year or two? One thing is certain – there will be strong demand for professionals who have a keen sense of managing risks in whatever job roles they are in.
Reeling from damages and losses incurred from excessive risk taking, firms are now hiring people who are good at managing risks in every business angle.
Working with clients and candidates in the financial industry gave us unique insights from the ground, on how strong or weak sentiments are pertaining to hiring and business expansion. As a specialist search firm, we like to see ourselves as Trusted Advisors to both our client and candidate.
On a daily basis, we give advice on what qualities to look out for in a candidate and whether it makes business sense in every strategic hire. With our candidates, we provide insights on the hiring requirements and organizational cultures of potential firms which they aspire to work in.
To succeed in being a Trusted Advisor means we take the extra mile to ensure what we do make a difference to you. Experience the WMRC Difference today!
John Koh
Managing Director
MBA, MSc in Wealth Management
