Asset Finance – Lenders and brokers that traditionally specialised in home loans are increasingly moving into the equipment finance or leasing space. This is creating high demand for Asset Finance professionals.
Business Development Managers – In response to the drive to increase sales and market share within the banking sector, candidates with sales experience are sought across the corporate and commercial space.
Broker Support professionals – A recent trend to go direct to your bank for lending requirements has resulted in high demand for mortgage operations candidates with exposure to multiple lenders.
Mortgage Lending Processors – Due to an increase in demand for home lending, we are seeing a need for Mortgage Lending Processing candidates.
Credit Assessors – Candidates with a strong mortgage background and a DCA or equivalent are sought as new teams are created in major banks.
Credit Risk and Credit Analysts – The Big Four require individuals with this experience but salaries are not matching candidates’ expectations. Add the shortage of qualified professionals in this space and supply fails to meet demand. We are also seeing demand for experienced Credit Analysts with a lending authority in response to increasingly stringent lending policies across financial services.
Business Banking – This is a growth area with new roles created in specialist areas. In addition, candidates with front end retail experience are sought due to changes in the way the major banks approach business banking.
Commercial Banking – Commercial banking candidates are needed in response to the centralisation approach of major banks.
Agri Banking – This is a specialised area with a limited number of suitable candidates with relevant experience. We see fewer candidates choosing to specialize in this area than we used to, further exacerbating the skills shortage in the area.
Workers Compensation – Within insurance, workers compensation continues to be a growing and expanding area with a significant increase in demand for skilled and experienced professionals.
Financial Planning and associated roles – FOFA regulations have created uncertainty in the direction of financial planning. As a result the market is very candidate short as they are being more tentative about making a career move at present.
The major recruitment trend across Australia’s banking sector is the increase in fixed-term contracts to help control costs. Those candidates prepared to commit to contracts running through until Easter are highly desirable.
The majority of vacancy activity exists in the front end of banking, in other words retail, business banking and wealth management. The major institutions are all implementing large changes to how operations in areas such as lending are structured. This has led to large bulk recruitment drives to fill ongoing contract positions to facilitate new projects. Looking ahead, in six to 12 months time we will then be looking to fill permanent positions.