Due to the relative newness of the thriving virtual banking industry, employers are looking to candidates from traditional or retail banks, especially those with deep expertise of related financial products and services, according to recruitment experts Hays.
“Being at the very initial stages of rolling out operations, and having to carry out policies and frameworks, virtual banks are actively hiring their C-suite level of professionals and teams across the board: IT, marketing, and particularly within the control functions including audit, risk and compliance,” says Wisely Wong, Senior Manager at Hays Hong Kong.
“Hiring manages have expressed particular interest in candidates with a strong retail banking background, especially those with deep expertise of related financial products and services. This applies not only for IT and front-line roles but also to the risk management and compliance functions because of the need to be familiar with the related risks inherent to their day-to-day jobs. Candidates who have experience with e-payment set ups and project management are also highly coveted.”
Skills and expertise in demand in Hong Kong’s virtual banking space include:
- IT
- Strategy
- Marketing
- Finance
- Governance
The global recruitment firm also notes that firms are more receptive of leaders with fewer years of experience to spearhead virtual banking operations.
“Many virtual banks have since taken a ‘top down’ approach to their hiring. In the early stages, firms are placing a high focus on hires in the upper echelons of the business –– such as Department Heads and above – in order to start the ball rolling.”
“However, instead of looking for senior qualified people with over 20 years of experience in C-level roles, businesses have been receptive of candidates with fewer years of experience; sometimes even five to ten years’ experience would suffice for a senior position within the company. It is foreseeable that hires are more junior levels will come in the second phase of hiring.”
“All in all, virtual banking is perfect for candidates who are seeking a challenge while remaining in an industry which they are familiar with. To reap the rewards of the boundless opportunities that virtual banking presents, candidates are urged to be open minded, adaptable, tech savvy and passionate about the sector.”
To read the full Inside Story of Banking & Financial Services in Hong Kong, please click here.
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Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
Hays is located in Hong Kong at 6604-06, 66/F, ICC, 1 Austin Road West, West Kowloon, Hong Kong.
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About Hays
Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2018 the Group employed 11,700 staff operating from 262 offices in 33 markets across 20 specialisms. For the year ended 30 June 2018:
– the Group reported net fees of £1.072 billion and operating profit (pre-exceptional items) of £243.4 million;
– the Group placed around 77,000 candidates into permanent jobs and around 244,000 people into temporary assignments;
– 19% of Group net fees were generated in Australia & New Zealand, 26% in Germany, 24% in United Kingdom & Ireland and 31% in Rest of World (RoW);
– the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees;
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, China, Colombia, Chile, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA