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Stratagem Recruitment Newsletter – May 2018

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Welcome to our May 2018 newsletter.
This is where we discuss what we are seeing going on in the recruitment market, common trends and concerns we are hearing from our candidates and clients.


Risks, Compliance And Regulatory Skills Are In Demand But Professionals Must Become More Specialised


Regulations and fraud prevention are still a priority in the recruitment markets. We are still seeing cases such as the US$1.77 billion (S$2.3 billion) fraud case at the state-run PNB, and even Standard Chartered was recently fined $5.2 million for breaches of its anti-money laundering and countering financing terrorism requirements.


With tighter scrutiny from all parties, candidates with a strong background in compliance and regulatory controls will continue to be high in demand.


However, compliance and regulatory processes are increasingly becoming automated. Thus, basic compliance skills which includes checking boxes off a form are becoming redundant. Risks, compliance and regulatory candidates need to upgrade their skills and become more specialized to keep up with the job market. Some specialized skills include framework design to comply with regulations and in-depth knowledge of various regulations and even programming and data driven IT skills.


The main issue faced by many of our clients now is the lack of high-calibre talents with the relevant in-depth technical knowledge. Clients from the banking and financial industry are looking to hire audit professionals from the big 4 to fill up roles in risk mitigation and compliance. However, even with the large talent pool from the big 4, very few individuals make the cut in terms of knowledge and relevant experience.

 


Current Jobs Relating To Compliance, Risks, Regulations and Controls

Job Reference

Job Title

Corporate Title

Salary Range

91067NJF

Sarbanes-Oxley Working Group Lead

AVP

Generous Package

91061NJF

Regulatory/Financial Reporting - Manager

Associate or AVP

Competitive Package

91069NJF

Account Payable - Korean Speaking

Flexible

Competitive Package

 ____________________________________________________________________________________


More Temporary Staffing


Amidst uncertain economic outlook, hiring managers are finding it more difficult to get approval for permanent headcount, which leads increased number of temporary positions as compared to permanent positions.


In addition to uncertain economic outlook, some companies may hire temporary staff to fill empty positions while they seek talents who would fit their needs better. The hiring process to find the “perfect” candidate may take weeks, hence, in the meantime, they will have to make do with temporary staffing.


Many professionals are now taking on temporary and contract in hopes to be converted to a permanent staff if the organisation find them to fit the organisation or once the organisation gets approval for an additional headcount.

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