BANKING & FINANCIAL SERVICES

Transcription

1 TOP 3 MOST IN-DEMAND POSITIONS: Fund Accountant Regulatory Reporting Internal Audit 5

2 PERMANENT 2015 is likely to be a mixed year for banking pay trends, with demand for professionals varying significantly in each area. Front office corporate and investment banking should see rising salaries, as demand for experienced bankers in these areas is growing. Certain finance related roles, including regulatory reporting, Basel, liquidity management, and treasury management, are also likely to see heightened demand and consequently higher salaries. In operations, client on-boarding, know your client (KYC) and anti-money laundering (AML) roles are areas of high demand and therefore rising pay rates are expected. However, remuneration rates in the more stock standard operations and finance roles are likely to remain under pressure, as many of these functions are still being off-shored to lower cost centres around the region. Over the last four years, compliance has grown considerably. The majority of job movement has been due to new headcount as regulatory functions build out and become more embedded into businesses. Compliance professionals salaries have inflated by an impressive amount over the last few years. This is due to the fact that it is a candidate-short market and professionals have been able to demand significant uplifts when moving jobs. However, there is a relative amount of disparity, as pay rates can be inconsistent in this area. FRONT OFFICE CORPORATE AND INVESTMENT BANKING SHOULD SEE RISING SALARIES, AS DEMAND FOR EXPERIENCED BANKERS IN THESE AREAS IS GROWING. CONTRACT Contingency workforce hiring will continue to rise. This is a result of increased offshoring among major market players, who are relocating operational shared services functions to low cost countries, such as India, Malaysia and Philippines. The Fair Consideration Framework, which mandates employers to consider Singaporeans or Singapore Permanent Residents before Employment Pass holders, will continue to bolster local employment rates. Salary levels will stay the same as in However, job movers can expect increases of percent, or higher for some niche positions. Roles that are in demand include: securities settlement, compliance, regulatory and KYC / client on-boarding positions. In addition, candidates with private banking / wealth management experience, UAT experience, high proficiency in Microsoft Excel, VBA, vlookup and pivot table are much sought after. 6

3 FINANCE & ACCOUNTING - PERMANENT FINANCIAL ACCOUNTING $45k - $80k $80k - $120k $140k - $200k $180k - $220k $210k - $330k MANAGEMENT ACCOUNTING $50k - $80k $80k - $120k $130k - $200k $180k - $220k $210k - $330k SYSTEMS / PROJECT ACCOUNTING $40k - $75k $75k - $130k $145k - $220k $220k - $250k $240k - $350k FUND / TRUST ACCOUNTING $40k - $75k $75k - $130k $145k - $220k $180k - $220k $220k - $350k PRODUCT CONTROL $50k - $80k $90k - $145k $150k - $220k $220k - $250k $250k - $400k INTERNAL AUDIT $40k - $75k $75k - $130k $145k - $220k $220k - $250k $250k - $380k TAX / ADVISORY COMPLIANCE $50k - $90k $80k - $140k $145k - $220k $220k - $250k $250k - $350k BUSINESS ANALYST $40k - $80k $80k - $140k $150k - $220k $220k - $250k $250k - $380k TREASURY $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330k TECHNICAL ACCOUNTING $50k - $80k $90k - $145k $150k - $200k $220k - $250k $250k - $400k FINANCE & ACCOUNTING - CONTRACT Analyst AVP VP FINANCIAL REPORTING $48k - $80k $80k - $120k $140k - $220k $200-$220k REGULATORY REPORTING $55k - $85k $95k - $130k $140k - $200k $200-$220k STRATEGY PLANNING & ANALYSIS $55k - $85k $90k - $130k $140k - $200k $200-$220k REVENUE & COST REPORTING $60k - $85k $90k - $130k $140k - $200k $200-$220k MIS REPORTING $60k - $85k $90k - $130k $140k - $200k $200-$220k PRODUCT CONTROL $50k - $90k $90k - $145k $150k - $220k $220k 7

4 EQUITY, CREDIT, RATES, FX/MM SETTLEMENTS $40k - $65k $65k - $110k $140k - $180k $180k - $220k $220k+ CLIENT SERVICES $50k - $75k $75k - $110k $140k - $180k $180k - $220k $220k+ DOCUMENTATION $50k - $75k $75k - $110k $140k - $180k $180k - $220k $220k+ TRADE SUPPORT $60k - $80k $80k - $110k $140k - $180k $180k - $220k $220k+ BUSINESS ANALYST / PROJECTS $60k - $85k $85k - $130k $150k - $180k $180k - $220k $220k+ DERIVATIVES SETTLEMENTS $40k - $65k $70k - $125k $140k - $180k $180k - $220k $220k+ CLIENT SERVICES $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+ DOCUMENTATION $50k - $75k $80k - $125k $140k - $180k $180k - $220k $220k+ TRADE SUPPORT $60k - $80k $80k - $130k $140k - $180k $180k - $220k $220k+ BUSINESS ANALYST / PROJECTS $60k - $85k $85k - $130k $140k - $180k $180k - $220k $220k+ OTHERS LOANS ADMINISTRATION $40k - $50k $60k - $120k $140k - $180k $180k - $220k $220k+ STATIC DATA ANALYST $40k - $50k $60k - $110k $140k - $180k $180k - $220k $220k+ ASSET SERVICING (CORPORATE ACTIONS & DIVIDENDS) $40k - $50k $60k - $120k $140k - $180k $180k - $220k $220k+ CONTROL / RECONCILIATIONS $40k - $60k $70k - $120k $140k - $180k $180k - $220k $220k+ 8

5 COMPLIANCE MONITORING / SURVEILLANCE $40k - $60k $60k - $130k $120k - $160k $140k - $200k $200k+ AML $40k - $65k $65k - $130k $130k - $180k $180k - $250k $260k+ KYC $40k - $65k $55k - $70k $70k - $120k $100k - $200k $180k+ INVESTIGATIONS n/a $60k - $120k $120k - $180k $180k - $250k $240k+ CONTROL ROOM / RESEARCH $50k - $70k $65k - $160k $150k - $200k $180k - $300k $300k+ COMPLIANCE ADVISORY $60k - $90k $90k - $180k $160k - $210k $180k - $300k $280k+ RISK MANAGEMENT QUANTITATIVE ANALYSIS $72k - $100k $90k - $150k $130k - $230k $220k - $280k $250k+ CREDIT RISK ANALYSIS $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+ MARKET RISK MANAGEMENT $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+ MARKET RISK REPORTING $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+ TRADED CREDIT $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+ OPS RISK $40k - $70k $70k-$150k $130k -$250k $220k - $280k $250k+ FRONT OFFICE INVESTMENT BANKING / M&A / EQUITY CAPITAL MARKETS Analyst Associate VP MD LOWER BAND $90k $160k $230k $300k $500k UPPER BAND $150k $230k $300k $400k $750k ASSET MANAGEMENT AND SECURITIES SERVICES FINANCE AND OPERATION Accountant / Operation Analyst Senior Team Leader Accountant / Operation VP Accountant / Fund Controller Operation Managing $48K to $55K $66K - $84K $90K - $130k $140-$180K $220k-$280K $300+ 9