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As banking and financial services firms continue to review their business and recruitment strategies, pockets of recruitment activity are springing up, even in Scotland which historically lags behind the rest of the UK.
Commenting on the results of Badenoch & Clark’s latest workplace study, Is banking and financial services heading for a brain drain?, Alison Burgin, executive director at Badenoch & Clark said: “It remains an incredibly tough environment for everyone in the sector, but there are signs that optimism is warranted in the mid to long term.
“We’re seeing a lot of people recognising the opportunity for growth in the coming months and, with the job market more swollen than it has been for some time, the opportunity to pick up highly valuable talent that may not be around in a year’s time. Employers are looking for people with accounting and finance, banking operations and compliance expertise in particular.”
The opportunity to pick up highly valuable talent that may not be around in a year’s time
With the majority of mergers progressing, redundancy periods completing and staff turnover persisting, critical compliance roles are now reaching the open job market – more so than reported in February.
Recruitment levels within banking operations are still low, however there are signs of bounce back. The demand for structured product knowledge continues from last quarter, though the need for cross product knowledge has overtaken the recent desire for specialist knowledge. At interview employers are going to greater lengths to assess professionals’ soft and technical skills, meaning that job seekers are advised to demonstrate both.
As accounting and finance roles return tentatively to the job market, professionals with strong commodities experience from a financial accounting or product control perspective are faring the best.
Permanent recruitment is starting to pick up within the investment management sector, and those recruiting are especially keen to see property experience as real estate fund managers cash in on the housing market.
And the prospects of change management experts continue to be favourable, with business analysts in demand. Finance qualifications, plus proven experience of working on both line and project frontlines, will put hopeful job seekers in good stead.
To request a copy of our latest workplace study findings, Is banking and financial services heading for a brain drain?, please email genevieve.brading@badenochandclark.com
