More financial firms expected to increase hiring activity in Q2

They will be hiring beyond replacement roles.

The job market in Singapore is poised to pick up this quarter with the more optimistic economic outlook. This could not have come at a better time, given the annual candidate migration that follows the bonus season cited by Hays.

Hays Singapore managing director Lynne Roeder said in the post-bonus season, more roles are expected to come to market across the financial and management accountancy space. Roles will also be made across audit risk and compliance, especially as anti-money laundering initiatives remain a key area of focus for banks and other financial institutions.

“The post-bonus season always creates replacement hiring in banking and financial services but we are also seeing new roles being created. These include roles in the private banking sector focussed on China and Chinese investment as well as trade finance roles in smaller banks," she said.

Banking and finance technology roles are being created across the corporate and private banking sectors, influenced by a range of factors including regulatory change, a greater focus on cyber security, and the Singaporean Government’s funding assistance for financial technology startups.

Lynne said project managers with excellent resumes are highly sought after in the fintech space. "However, successful candidates must have both solid technical knowledge and excellent stakeholder management skills, cost management skills, and the ability to make multiple decisions almost simultaneously,” she said.

Other lively sectors for post-bonus movement are the insurance and architecture spaces. Another ongoing trend is that some employers are looking to hire temporary and contract workers, given the uncertainty in the global and regional landscape and the challenge of securing permanent headcount.