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Banking

October – December 2014

Hotspots

Credit Assessors – Candidates holding a credit authority of more than $750,000 are in high demand within the residential and commercial banking space as the big four banks are driving their businesses to complete as many loan applications as possible. With the banks pushing for a higher home lending conversion rate, they are increasing their teams to process mortgage applications quicker for customers.

Business Bankers – The overall improvement in consumer and business confidence has resulted in an increased appetite for business lending to small businesses and this has been supported by the federal government.

Mortgage Brokers – There has been an increase in demand for brokers as low interest rates are still generating demand for home loans.

Asian Business specialists (Mandarin speaking) – Demand is high for candidates with English and Mandarin language skills from a number of financial institutions looking to keep up with the demand being generated by Asian investors.
 

Verification Officers (Lending) – The push for increased bank lending across the branch and broker networks requires candidates with verifications experience within the back office. These officers ensure the loans are processed and approved.

Mortgage Sales Professionals – The major banks are seeking high performance Mortgage Sales professionals in order to gain market share from their competitors. Temporary recruitment across mortgage operations remains buoyant with roles in demand including Credit Assessors (DLA Holders), Mortgage Processors, Settlements Attendees, Unsecured Lending Specialists (credit cards and personal loans) and Asset Finance Officers.

Corporate Banking Relationship Managers – The international banks have increased activity in syndicated investments and corporate lending in Australia. As such there has been an increase in demand for Corporate Banking professionals in Sydney.

Financial Planners and Paraplanners – 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.

Trends

We are starting to see the banking sector transition from being reliant on a contingent workforce to investing in more permanent staff. Over the last quarter a number of banks have been moving towards hiring staff on fixed-term contracts or opting for permanent roles over temporary roles. As the market has stabilised and confidence improves, banks are now looking to reinvest in their staff numbers and increase headcounts.

Managers are now moving more quickly with hiring decisions to ensure they secure the right candidate. As a result, strong candidates are securing roles a lot faster than before. This combined with a shortage of good candidates, has led to employers being open to negotiate on salaries where previously there was less flexibility. We anticipate that we will start to see salaries increase for professionals skilled in high demand areas as the banks compete to secure the best candidates.

The buoyant lending market across the mortgage operations space has resulted in employers becoming more flexible about their staffing requirements than they were 6-12 months ago.
The major banks continue to hire operations staff on a temporary basis in order to stay flexible. Other financial institutions such as credit unions and non-bank lenders tend to hire on a permanent basis and are slightly more selective in their candidate choice.

With the number of overseas investors increasing, more organisations require candidates with language skills, particularly Chinese, Korean and Vietnamese. Banks are also creating new permanent sales roles, and as a result this is now a very candidate short market.
 

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