In part II of a two-part series, we continue our look at 20 sectors where your job search might potentially be successful.

Investment banking operations and…

There has been a slight increase in back-office i-banking hiring since April and the market should continue to pick up, according to Anton Murray, director of Anton Murray Consulting. “We think treasury markets hiring within operations will strengthen later this year, with a focus on vanilla products. We also expect fixed-income operations groups will build slightly to support the increased trading.”

Equity-markets recruitment will rise as the markets stabilise. “Any candidates with investment-banking commodity-operations experience, especially within energy or carbon, will find ample opportunities leading into 2010,” says Murray.

… funds management operations

Asset management firms, especially with an equity markets focus, have been acting with more confidence over the last few months as their funds under management have stabilised, says Murray. “Opportunities will become available later in 2009, due to the expected increase in hiring from the investment banks. Given this, candidates corporate-actions or settlement experience should find plenty of opportunities.”

Funds-management operations managers and team leaders will also find the job market regaining strength in the second half of 2009, as businesses seek to rebuild their diminished operations supervisory ranks.

Debt-restructuring advisory

Financial institutions in Australia are starting to beef up their debt restructuring advisory capabilities. The focus is on internal redeployment, but small-scale external recruitment is also taking place, with employers poaching from related job functions due to a shortage of debt advisory specialists caused by a lack of corporate restructuring in recent years.

The domestic banks are a good source of junior candidates with credit and credit-approval knowledge, says Oliver Darkes, principal consultant, Carmichael Fisher. “At the more senior end, potential candidates have moved from origination roles across leveraged finance, DCM, syndications and the broader debt markets,” he adds.

Most debt restructuring advisory teams need a hybrid of skill sets, so practitioners from the larger insolvency firms are especially in demand, says Patrick Everest, a partner at Jon Michel Executive Search.

Banking technology

The Big Four banks are still spending heavily in technology. Essential IT projects - increasingly staffed by fixed-term employees - are generating most of the jobs. The Westpac/St George integration and the CBA core banking upgrade are two significant examples.

But if you don’t have banking-sector experience, you probably won’t get a job. “Generally, banks want the top 5 per cent of IT candidates and they want degrees in both technology and business. Candidates must understand why banks work the way they do, understand the trading systems,” says Andrew Blades, team manager at IT recruiter Aristotle.

Operational risk

This is a profession which thrives on change, so it’s no surprise that demand is picking up. New legislation and volatile market conditions are forcing financial institutions to boost their operational risk teams, according to Melissa Tal, director, Wilbur & Orville Executive Recruitment.

The demand for skilled candidates in audit, project management, credit risk and markets operations to move into operational risk is gaining momentum, “Financial institutions also consider the skills gained in some areas of professional services firms. The demand is across the board, from more junior positions to senior professionals,” adds Tal.

Life insurance

The life insurance industry has already hit the hiring button as a recession-weary public seek to safeguard their wealth. Vacancies should continue to rise across the various types of organisations which sell life policies - from specialist insurance firms and retail banks, to super funds and boutique financial planning firms.

But as life insurance-related employment expands in Australia, firms might find it increasingly difficult to source skilled staff. “There’s a shortage of talent because in the past insurance salespeople had a tarnished reputation. This put people off entering the industry, but that’s now gradually changing,” comments one headhunter.

Experienced financial planners

Both boutique financial planning groups and larger institutions are seeking experienced financial planners who can hit the ground running and maybe even bring an existing client base with them, says Hannah Pain, consultant, banking and finance, Robert Walters. “There is currently an abundance of fresh graduates who are now seeking their first opportunity within financial planning. Unfortunately the market doesn’t have room for this level of experience compared with 18 months ago,” she adds.

Executive-level positions

Recruitment activity at this level has improved, with some key executive positions appointed, largely within the risk, compliance and credit restructuring spaces, says Jane McNeill, senior regional director of Hays Banking. “High-level positions such as regional managers and institutional roles, with remuneration packages between $150k and $200k, have been released,” she adds.

Tax

There are tax vacancies in both the financial and corporate sectors as companies examine ways of improving their bottom line. Brian Schroder, associate director at Robert Half, says temporary and permanent hires are taking place as companies reduce their reliance on external consulting firms for tax work

“These roles call for highly specialised, highly technical professionals, most of whom will be of mid-level experience. The positions can be contract-based or permanent, although more and more employers are hiring on a ‘try-before-you-buy’ basis - often for three-month probationary contracts that may turn into permanent positions,” adds Schroder.

Accountants in Brisbane

How about moving your career to Queensland? Areas of hiring growth include insolvency and audit, says Ric Nilson, senior consultant, executive division, Manpower Professional. “While the demand for general accounting has remained steady, the drive to lower the cost base has resulted in continuing demand for graduates and less experienced staff.”