Banking professionals can harness unpredictable market by being open minded

Helen Firth 08.10.2019

Banks increased their recruitment of temporary Accounting & Finance professionals across both Regulatory Reporting and Product Control as the summer hiring lull ended.

Overview of Accounting & Finance in Banking recruitment

There has been a marked increase in recruitment of temporary professionals across the regulatory reporting market in recent months. This has largely been due to the fact regulatory reporting is fundamental to the bank’s operation, and demand has been further intensified by a lack of appropriately skilled candidates. An increase in hiring was also seen across Product Control, with the smaller banks looking to strengthen their functions in that area and subsequently snapping up candidates leaving roles at big banks where Product Control has been offshored. In contrast, we noticed a decrease in Finance Business Partners and FP&A vacancies as banks tended to opt for internal promotions over hiring externally.

The end of the ‘summer holiday hiring lull’ in September brought about a significant number of opportunities, boosting job flow to be consistent with the previous quarter.

The most prominent roles seen throughout the past months

Technical accountants have been consistently in demand, particularly from the Big 4 for Newly Qualified level accountants, right through to high level policy accountants - this specifically picked up around the IFRS space. These roles have been business critical as the turbulent market has meant more scrutiny is placed on numbers and the regulators being more stringent than ever before.

A&F Banking recruitment facts from summer

Workplace wellness: A growing trend?

Whilst many industries are taking strides to improve the wellbeing of their employees, it hasn’t been such a focus for the contract banking market, especially at challenger and smaller banks. Some of the big banks have more of a focus on workplace wellness but this is inevitably because they have greater access to the necessary resources.

Looking towards the end of 2019…

We are anticipating a busy start to the last few months of the year, although it’s incredibly difficult to predict anything in these uncertain times! A number of banks have mentioned how they are waiting on sign off for numerous roles; this displays the pipeline appears to be there and could result in an influx of hiring.

Those looking for contracts in the banking space should pay particular attention to their preparation if they want to be successful in an interview. There has been a seismic shift towards extended questioning beyond just the specific role - almost every interview will include questions about the wider business and why you might want to secure an assignment there.

In order to make the most of the unpredictable market, it’s important to be flexible and open minded. Listen and take advice from your recruiter: just because a role has a certain job title, it doesn’t necessarily mean it will only include those tasks.

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