There has recently been an influx in banking roles in areas such as business banking, mortgage brokering, wealth management and syndicate banking. The increase in permanent roles at banks has happened mostly due to their business development needs. However, the number of available temporary positions is currently low.
The recent increase in the educational requirements of employers has resulted in it becoming more difficult for experienced candidates without tertiary qualifications to find roles. A candidate’s ‘cultural fit’ with the organisation is also becoming more important in areas such as business banking.
In terms of skills in demand for the April – June 2015 quarter, we’re seeing a high demand for Mortgage Brokers. Low interest rates are still generating demand for home loans and in turn creating jobs for Brokers.
The overall improvement in consumer and business confidence has resulted in an increased appetite for business lending to small businesses, which has created demand for Business Bankers at both the big four and second tier banks.
We are seeing increased activity in financial and banking Business Development Manager roles, linking into commercial lending and business banking. There is currently a shortage of well-networked sales professionals in these areas.
There continues to be demand for Financial Planners and Paraplanners, with candidates often receiving more than one offer. These candidates will remain in high demand as banks continue to develop their wealth management teams.
In terms of candidate trends, employees are commencing their tertiary studies in order to keep up with industry qualification requirements. For example, Financial Planners are studying for degrees as the major banks no longer accept only the Diploma of Financial Planning.
Salary expectations are slowly increasing.