High frequency quantitative analysts
“With the growth in high frequency trading and cross-asset class strategies creating the need for new models and algorithms, there is increased demand for quantitative analysts with PhDs in numerical subjects. On both the buy and sell sides, quants are becoming more important,” explains Ceri-Anne Smith, Aurec Banking & Financial Services.
Faculty members and fresh graduates who are qualified up to doctoral level are being hired from academia into capital markets and investment jobs. Quants with just two or three years' post-university experience can make anywhere between $150k a year to $400k or more, depending on experience and proven academic ability, says Smith.
“But the difficulty in Australia is attracting the top talent to finance because it’s not just about the money as a primary motivating factor. Quants need to be excited by the technology, the field, the questions you suggest to them, and the idea that they are working at the epicentre. Compared with other world markets, Australia is not the most attractive,” she tells eFinancialCareers.com.au.
Financial planners at retail banks
Demand has been high for retail financial planners within large banking groups this year and there is no end in sight to the mass-hiring trend, says Sarah Wapling, client advisor, Marshall McAdam. “Privately owned practices, who continue to be tight on cash flow, are shy in regards to recruitment, but the highly resourced banks have seized the opportunity to upgrade their talent and to prepare for upcoming growth,” she adds
Rather than taking an ad hoc approach to recruiting planners, banks have significantly raised their standards. “They are demanding that financial planners have proven success with conversion and business development, have at least two years of client-facing experience, and are close to or fully qualified. In addition, they then apply a stringent interview and psych testing process. Planners can no longer breeze into a retail bank job.”
Product control
Product controllers are a scarce commodity in the Australian market. Experienced candidates can almost pre-select where they want to work, and talent moving from offshore is guaranteed a role, says Rebecca Walkey, accounting and finance specialist, Michael Page. “This demand has increased noticeably in the last six months, driven by three main factors: trade volumes improving; increased spend on projects to enhance markets systems; and Australians having the confidence to further there careers overseas,” she explains.
Most overseas candidates are relocating or returning from the UK, but Asia is becoming a more important source of product controllers. “For local talent, we are experiencing a welcome degree of flexibility from hiring managers who recognise the skills shortage. First-time movers from the profession are attractive, especially if they have a financial services portfolio. There also seems to be a growing trend for experience operations candidates to move into the middle office,” adds Walkey.
Watch out for three more hot jobs next week.
http://news.efinancialcareers.com.au/newsandviews_item/newsItemId-29111
