Retrenchments and a slowing economy have kept banking professionals in Singapore on their toes over the recent months. The year has been inundated with news of redundancies and job cuts from the banking industry, with continued uncertainty in the horizon. With organisations under pressure to streamline operations, manage costs and protect their bottom line, it's only natural that businesses and individuals struggle to keep an optimistic outlook amidst the sluggish climate.
top banking operations roles in singapore:
Despite the gloomy forecast reported in the media, banking operations roles are still seeing a healthy hiring demand - particularly in the following areas:
know your client and client onboarding
Due to the increased regulatory requirements and provision of the Foreign Account Tax Compliance Act (FACTA), banks are now placing a greater focus on the compliance and onboarding space within the private banking, corporate and investment banking clients. As a result, budget and headcounts have increased significantly in the KYC team, both onshore and offshore to support the checks and reviews in these business segments.
preferred candidate profile
- Candidates at the Analyst to Assistant Vice President level
- 2 - 7 years’ relevant experience
- Strong analytical skills to understand clients’ source of wealth/funds
- Experience in APAC to support different market regulatory requirements
salary range
S$50,000 to S$140,000 per annum, excluding bonuses.
trade support and settlements
Corporate banking operations has seen a slowdown in hiring demand, except for replacement positions. On the investment banking side however, we have seen a spike in new headcounts particularly for trade support and settlements roles. These roles are created to support different asset classes such as equities, fixed income (FI), FX and derivatives. We have also observed a similar hiring trend in hedge fund firms, where we see an increasing demand for candidates with strong knowledge in similar asset classes.
preferred candidate profile
- Candidates at the Analyst to Senior Analyst level
- 3 - 5 years’ relevant experience
- Strong Excel Macros and VBA skills required to help streamline the BAU process
salary range
S$42,000 to S$72,000 per annum, excluding bonuses.
to find out more about the most in-demand banking positions, salary increases and contract roles, download our 10 most in-demand banking jobs report.
If finding exceptional talent for your business is a key challenge or if you want to take your professional career to the next level, please get in touch with us.