Salary Guide. Well-rounded. Financial reporting. Reconciliations. Integrity IFRS. Growth. Accounting + + Strategy Customer service

Transcription

1 Financial reporting Well-rounded Pivot tables Management Presentation skills Technology Negotiation Connections Ethics Compliance Compliance Finance Guidance Business acumen Leadership Soft skills General ledger Spreadsheets Skills SAP Relationships Regulations Connections Strategic decision making Accounting Technology Collaboration Adviser Regulations Accounting Continuous learning Leadership Forecast Reconciliations Communication Reconciliations ERP Adviser US GAAP IFRS Integrity Continuous learning Negotiation Growth Management Connections Strategy Customer service Accounting Collaboration Growth Compliance Guidance Communication Business acumen Leadership Connections Communication ERP Budget Budget Technology IFRS Quarterly close Year-end Financial reporting Pivot tables Management Well-rounded Continuous learning Management Collaboration Negotiation Accounting Customer service Accounting Relationships Tax Adapt Tax IFRS Ethics General ledger Strategy Financial reporting Pivot tables Management Reconciliations Well-rounded Strategic decision making Technology Relationships Collaboration Relationships Integrity Regulations Strategy Guidance Strategy Business acumen Leadership Connections Negotiation Soft Skills Soft skills Spreadsheets Adapt Tax SAP Audits Global General ledger Regulations Connections Communication Guidance Continuous learning SAP Growth Reconciliations Financial reporting = Business acumen Compliance Spreadsheets Mentor Managemen Salary Guide 0 BANKING & Financial Services

2 preadsheets Management Table of Contents From the Managing Director Using the Salary Guide Finance, Accounting & Banking Hiring outlook in Asia Hiring outlook and salaries in Hong Kong Hiring outlook and salaries in Singapore Hiring outlook and salaries in Japan Remuneration trends Technology Hiring outlook in Asia Salaries in Hong Kong Salaries in Singapore Salaries in Japan The finance growth challenge: Increasing productivity The rise of the super contract professional 0 Robert Half: Your recruitment expert

3 From the Managing Director Dear colleague, The banking and financial services sector is in the midst of a significant transition driven by new skills, shifting regulations, and cutting-edge technologies like mobile and cloud computing. Where once technical skills were all that was required to land a job, employers are now looking for people who are more well-rounded and versatile with the experience of managing change, the ability to communicate complex information, and equipped with the quality leadership skills every organisation needs. Robert Half s 0 Banking & Financial Services Salary Guide brings together market intelligence and pay data to help you identify recruitment trends, and establish competitive pay levels. Our recruiting managers are in daily discussions with both companies and candidates, allowing us to know what the market is willing to pay. We also supplement this data with our own research into how companies intend to remunerate in the future. This salary guide plays a crucial role for both employers and job candidates. Knowing what constitutes a competitive salary allows you to attract top professionals to your organisation and, just as importantly, retain them. For candidates, knowing their market worth will help guide their next career move. I hope you find our 0 Salary Guide informative and welcome you to contact one of our specialised recruiting managers with questions about the survey findings and broader hiring trends, or to discuss your recruitment needs. Regards, David Jones Managing Director Robert Half Asia Pacific Robert Half 0 Salary Guide

4 Forecasting Using the Salary Guide The 0 Salary Guide from Robert Half gives you quick access to the latest salaries for positions within the financial services industry throughout Asia. It can help you determine remuneration levels for new and existing employees, plan budgets and navigate today s hiring environment. Our Salary Guide provides projected average salary ranges for banking and financial services positions across Asia. The salary ranges represent average remuneration only, because factors such as seniority, skills and industry can impact pay levels. Bonuses, incentives and other forms of remuneration, such as benefits and pension schemes, are also not taken into account. The information in this guide is collected from various sources, including: Our recruiting managers who specialise in banking and financial services, and make placements throughout Robert Half locations in Asia Insights from our senior managers Independent research we conduct regularly among senior business and financial leaders in the region Our comprehensive analysis of current and future hiring trends This guide also includes insights into the hiring environment, skills in demand and practical hiring advice, as well as companies remuneration plans for existing employees based on our survey of senior business leaders within the financial services industry. Strategy TAX Modelling Audits XBRL Do More With Less Collaboration Leadership Accounting Connections Connections Budgeting Compliance Enhance IT Business partnering Business demands Customer service Adviser Growth ERP TAX Financial insight Business acumen Adapt Leadership TechnologyNegotiation Reconciliations Leadership Soft skills Reporting Strong Process Analysis General ledger TAX Global Connections Collaboration Compliance Connections Ethics Accounting Regulations Integrity Pivot tables Well-rounded Global Audits Upskill Technology Audits Global Spreadsheets Training Revenue growth Soft skills ERP Relationships Forecasting Negotiation Strategy Financial systems Change Management Modelling Accounting Negotiation Well-rounded Year-end Strategic decision-making GAAP Productivity Communication Regulations Management Accounting Adapt XBRL Collaboration Audits Expert Adviser Soft skills Regulations Relationships Pivot tables Commercial acumen Adviser Connections Connections Business acumen Project Implementation TAX XBRL SAP Adviser GAAP Pivot tables x Robert Half 0 Salary Guide

5 The hiring landscape in Asia The Asia Pacific region is expected to remain the most important driver for the world s economic growth, despite concerns about the Eurozone economic woes and moderate growth from the region s emerging giants. Asia s economy is expected to expand faster than the world average, and it remains home to some of the world s leading financial centres. While Asia s senior business and finance leaders feel confident about their economy and company s growth prospects, hiring intentions would not be uniform across the board in all markets. Some markets will enjoy strong hiring demand and increased headcount while for other markets, the number of new hires will be fewer. Much of what will occur in the job market will depend on the confidence of management within each different martket. In Hong Kong, the battle for top talent continues to intensify as companies compete with the regional financial hubs of Singapore and Shanghai. Singapore companies remain positive about their prospects and expect demand for new hires to be robust. A challenge would be to retain the staff they have on board as competition for talent will remain fierce. The Japanese economy is a mixed one, with certain industries experiencing decline while others continue to pursue expansion and acquisition plans. One thing that is constant across all Asian countries is the growth in new regulations. Many of these new regulations are a result of the financial crisis of 00, and are a response by policymakers to the public s demand for greater certainty in financial markets. The burden and responsibility for managing these new regulatory requirements inevitably fall on professionals in the banking and financial services sector. This development will see professionals with compliance experience in hot demand in all major markets. % of senior business and financial services leaders in Asia find it challenging to locate skilled financial services professionals today % of senior business and financial services leaders in Asia are concerned about losing top performers in the coming year Source for statistics: Robert Half survey of 0 senior business and financial services leaders in Asia. Robert Half 0 Salary Guide

6 Global trends affecting hiring in 0 Business Acumen China s growth While there are reports that the rate of expansion of the Chinese economy is slowing, there is no doubt that it is still one of the fastest growing economies in the world. The impact of the slowdown may be more psychological than physical. China s astounding growth was credited with helping the world s economy get back on track after the global meltdown, causing economists to worry where growth will come from if China s economic transformation moderates. MentorAnalysis The fate of Europe Europe continues to confound economic and political commentators. While there is still fear of a continent-wide meltdown, the leadership seems adept at resolving short-term problems without ever fully resolving the main structural issues. If Europe s outlook worsens, market confidence will take a hit, resulting in a weaker employment outlook in Asia. New regulations Banks and financial services companies are dealing with a constant flow of changes to the rules under which they operate. The liquidity requirements from reform initiatives such as the Dodd-Frank Act and Basel III are having the most impact on the business of banking. This is good news if you are a skilled compliance or risk management specialist. Professionals with the right mix of technical knowledge and experience in the field of compliance will be in hot demand. Information Technology (IT) An area where banks and financial institutions are committing resources in is information technology. IT is crucial to the way modern banks operate, offering better ways to interact with customers, utilise customer data as well as improve regulatory compliance. Increased IT budgets will result in additional IT headcount. t Robert Half 0 Salary Guide Analysis Forecasting IFR

7 rcial Highly sought-after skills Employers in the banking and financial services sector are all unanimous on one thing academic qualifications are simply not enough in today s market. What they are looking for are the intangible qualities that make a candidate stand out from the rest. Top on the list is communication skills. The value of good communication is best defined by its absence without communication skills, you can never lead a team or push through changes in an organisation. Employees with good communication skills tend to be noticed more, and rise quickly through the ranks. Closely related to communication skills is the ability to speak a second language. With the rise of China, an increasing number of companies are looking for banking and financial services professionals with Mandarin language skills. While English may exist as a common platform, it will be challenging to really understand the nuances of what a person is thinking unless you can talk to them in their own language. Regional experience is also highly prized as it comes with cultural awareness that allows a professional to operate effectively across borders. As modern organisations increasingly comprise of people from different backgrounds, an in-depth understanding of diverse cultures will help a professional to bring a team together. Personal networks are highly regarded as an asset a candidate can bring to a position. By being active in industry associations and professional bodies, individuals can develop extensive contacts. Sometimes a good personal network can be a source of industry intelligence, an effective way to meet potential customers or a means to find a person with a critical skill to join the team. In addition, demonstrated proficiency with software applications such as advanced knowledge of Microsoft Excel, as well as ERP systems and other financial systems are important across the region. In terms of the qualifications that are most in demand, many organisations continue looking for professionals who are CFA, CPA or ACCA qualified, and FRM for risk roles. Robert Half 0 Salary Guide

8 Positions in demand Compliance / Regulatory Reporting Professionals in banking and financial services have felt the impact of the changes to the regulations under which they operate. The last three years have seen an explosion in new compliance and disclosure requirements. In response, financial companies have been building a strong compliance team. Professionals with an excellent track record in compliance and risk management especially those in more senior roles will find their expertise highly sought after in 0. Internal Auditors Much of the debate about the causes of the financial crisis has focused on the internal controls within financial institutions. As a result, Board members and senior management are demanding greater visibility from their accounting processes, elevating the role of the internal auditor. Internal auditors are the whistle blowers within an organisation, identifying poor processes and potential problems that might arise. That is why good internal auditors are highly valued by progressive companies. Financial Controllers Similar to internal auditors, the role of the financial controller has become more important since the global financial crisis. While the auditor reviews other people s actions, the Financial Controller must take ownership of the work of their team and provide timely advice to the CEO. As every company is different, financial controllers with experience in a particular area or with specific product knowledge will be in high demand in 0. Business Analysts Financial institutions, like all companies, are striving to do more with less. Being able to analyse a company s numbers and to identify where savings and efficiencies can be made is a powerful skill that is highly sought after. People with the analytical skills to improve overall efficiency and reduce costs are valuable to any organisation, especially to a complex company like a financial services firm. Robert Half 0 Salary Guide

9 Hiring outlook in Hong Kong The outlook for 0 is cautiously optimistic and the job market in Hong Kong is expected to remain stable. Within the banking and financial services sector in Hong Kong, available positions will more likely be for replacements rather than for new roles. The large foreign banks the ones that felt the brunt of the 00 downturn and i-banks will continue to be subdued in their hiring activity, having already replaced many of the roles cut during the crisis. It will be the newer and growing Asian banks that are expected to be the most active in the job market in 0. Chinese banks in particular, will ramp up recruitment in 0. Continued wealth creation is also driving demand for asset management, brokerage and insurance services, which will create employment opportunities for talented professionals. The hiring process is likely to remain drawn out in Hong Kong. Employers in the banking and financial services industry will require several rounds of interviews and assessments before a candidate is offered a position. This scenario is likely to continue in the first half of 0. The reason for this trend goes back to the process that hiring managers have to go through to get approval for increased headcount. Once approval is given, they want to be sure they get the right person on board. Employees in the financial services sector are also increasingly apprehensive about changing jobs, and only proceed with a high degree of caution. Job security and stability are becoming important factors when making employment decisions, whereas previous career choices would have been more financially motivated. Candidates today have higher expectations in terms of workplace culture and career development opportunities. The offshoring of jobs, including moving them to other low cost bases in Asia, is a concern for the employment prospects of those in the Hong Kong market. However, these positions tend to be more functional than strategic. The higher value-added roles are kept within the main offices of the banks and financial institutions. If a senior role is relocated, it is usually to another major financial centre such as Singapore or Shanghai. Within risk and compliance, the skills in demand include advanced Microsoft Excel, data management, along with strong analytical, interpersonal and communication abilities. Talented professionals who possess strong structured product knowledge and AML advisory experience are also in high demand. In addition, it is becoming increasingly important for financial services professionals within operations and middle office to be adept at managing change, and be able to adapt to the fast changing environment. Robert Half 0 Salary Guide

10 Salaries in Hong Kong Job Title 0 0 % Change Risk Project Management Analyst 00,000-00,000 00,000-00,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP 00,000 -,00,000 00,000 -,00,000 0% SVP / MD,00,000,00,000 0% Market Risk Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 0,000 -,00,000 0,000 -,00,000 0% SVP / MD,00,000,00,000 0% Credit Risk Analyst 00,000-0,000 0,000 -,000 0% Associate / Manager / AVP 0,000-00,000,000-0,000 0% VP 0,000 -,00,000,00 -,,000 % SVP / MD,00,000,,000 % Operational Risk Analyst 00,000-00,000 0,000-0,000 0% Associate / Manager / AVP 0,000-00,000,000 -,000 % VP 00,000 -,00,000,000 -,,000 % SVP / MD,00,000,,000 % Compliance / Anti-Money Laundering Analyst 00,000-0,000 0,000 -,000 % Associate / Manager / AVP 0,000-00,000,00-0,000 % VP 00,000 -,00,000 0,000 -,00,000 0% SVP / MD,00,000,00,000 0% Finance & Accounting / Control Management Reporting Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000 -,00,000 00,000 -,00,000 0% SVP / MD,00,000,00,000 0% Product Control Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000 -,00,000 00,000 -,00,000 0% SVP / MD,00,000,00,000 0% Financial Control Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000 -,00,000 00,000 -,00,000 0% SVP / MD,00,000,00,000 0% 0 Robert Half 0 Salary Guide

11 Salaries in Hong Kong Job Title 0 0 % Change Treasury Accounting Analyst 00,000-0,000 0,000-0,000 % Associate / Manager / AVP 0,000-0,000 0,000-0,000 % VP 0,000 -,00,000 0,000 -,00,000 % SVP / MD,00,000,0,000 % Tax Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000 -,00,000 00,000 -,00,000 0% SVP / MD,00,000,00,000 0% Internal Audit Analyst 00,000-0,000,000-0,000 % Associate / Manager / AVP 0,000-00,000,000-00,000 % VP 00,000 -,00,000,000 -,00,000 % SVP / MD,00,000,0,000 % Project Management Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP 0,000 -,00,000 0,000 -,00,000 0% SVP / MD,00,000,00,000 0% Operations Project Management Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000 -,00,000 00,000 -,00,000 0% SVP / MD,00,000,00,000 0% Treasury Operations Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP 0,000-0,000 0,000-0,000 0% SVP / MD 0,000 0,000 0% Middle Office / Trade Support (all products) Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 00,000-00,000 00,000-00,000 0% VP 00,000 -,0,000 00,000 -,0,000 0% SVP / MD,0,000,0,000 0% Fund Accounting / Administrator Analyst,000-0,000,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-00,000 00,000-00,000 0% SVP / MD 00,000 00,000 0% Please note, salaries are in HK$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Robert Half 0 Salary Guide

12 Salaries in Hong Kong Job Title 0 0 % Change Client Services / Marketing Support Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000 -,0,000 00,000 -,0,000 0% SVP / MD,0,000,0,000 0% Equity Settlements / Fixed Income Settlements Analyst 0,000-00,000 0,000-00,000 0% Associate / Manager / AVP 00,000-00,000 00,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD 0,000 0,000 0% Corporate Actions Analyst 0,000-00,000 0,000-00,000 0% Associate / Manager / AVP 00,000-00,000 00,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD 0,000 0,000 0% Documentation Specialist Analyst 00,000-0,000 00,000-0,000 0% Associate / Manager / AVP 00,000-00,000 00,000-00,000 0% VP 00,000 -,0,000 00,000 -,0,000 0% SVP / MD,0,000,0,000 0% Loans Administrations / Documentations Analyst 0,000-00,000 0,000-00,000 0% Associate / Manager / AVP 00,000-00,000 00,000-00,000 0% VP 00,000 -,000 00,000 -,000 0% SVP / MD,000,000 0% Please note, salaries are in HK$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Upskill Pro Robert Half 0 Salary Guide

13 Hiring outlook in Singapore The job market in Singapore continues to be robust as companies are still in hiring mode. Positions offered are for both replacing staff who have left the company, as well as fielding candidates in newly created financial services positions. As Singapore continues to promote itself as a financial hub, the country is poised to benefit as banks and financial services companies from emerging countries look to expand their regional reach and manage their business activities in Singapore. In 0, it will be the growing Asian banks that are expected to be the most active in the job market, along with commodities, real estate, private and corporate banks. With shifting regulations, hiring remains robust for risk and regulatory professionals. In addition, financial controllers with specific industry and product knowledge, finance business partners, as well as internal audit, regulatory reporting and tax professionals are in demand. The roles which are hardest to hire for are the more senior positions Assistant Vice Presidents and above. At the same time, the skills in demand include advanced Excel, strong product knowledge and project management skills, as well as good interpersonal, communication and networking skills. Like many other markets, the internal controls on new hires have become more stringent in Singapore. This means the hiring process has become longer and many employers find they lose candidates to competitors who are able to make an offer more quickly. Singapore employees are also open to working in regional roles outside of Singapore, and are highly sought after by international companies. Many talented professionals leave the Singapore market for a certain period to gain experience, further reducing the pool of financial services talent available at any point in time. ject Implementation Process Improvement Analysis Forecasting Robert Half 0 Salary Guide

14 Salaries in Singapore Job Title 0 0 % Change Risk Project Management Analyst,000-0,000,000 -,000 % Associate / Manager / AVP,000-0,000 0,000-0,000 % VP 0,000-0,000 0,000-0,000 % SVP / MD 0,000 0,000 0% Risk Management Analyst,000-0,000,000 -,000 % Associate / Manager / AVP,000-0,000 0,000-0,000 % VP 0,000-0,000 0,000-0,000 % SVP / MD 0,000 0,000 0% Market Risk Analyst,000 -,000,000-0,000 % Associate / Manager / AVP,000-0,000 0,000-0,000 % VP 0,000-0,000 0,000-0,000 % SVP / MD 0,000 0,000 0% Credit Risk Analyst,000 -,000,000-0,000 % Associate / Manager / AVP,000 -,000,000-0,000 % VP 0,000-0,000 0,000-0,000 % SVP / MD 00,000 0,000 0% Operational Risk Analyst,000-0,000,000 -,000 % Associate / Manager / AVP 0,000-0,000 0,000-0,000 % VP 0,000-0,000 0,000-0,000 % SVP / MD 0,000 0,000 0% Compliance / Anti-Money Laundering Analyst 0,000-0,000 0,000-00,000 % Associate / Manager / AVP 0,000-0,000 0,000-0,000 % VP 0,000-0,000 0,000-0,000 % SVP / MD 0,000 0,000 0% Finance & Accounting / Control Management Reporting Analyst 0,000 -,000 0,000 -,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP,000-0,000 0,000-0,000 % SVP / MD 0,000 0,000 0% Product Control Analyst 0,000 -,000 0,000 -,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP,000-0,000,000-0,000 0% SVP / MD 0,000 0,000 0% Robert Half 0 Salary Guide

15 Salaries in Singapore Job Title 0 0 % Change Financial Control Analyst 0,000 -,000 0,000 -,000 % Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP,000-0,000 0,000-0,000 % SVP / MD 0,000 0,000 0% Treasury Accounting Analyst 0,000 -,000 0,000 -,000 % Associate / Manager / AVP,000-0,000,000 -,000 % VP 0,000 -,000 0,000 -,000 % SVP / MD,000,000 % Tax Analyst 0,000-0,000,000 -,000 % Associate / Manager / AVP,000-0,000,000 -,000 % VP 0,000-0,000,000 -,000 % SVP / MD 0,000,000 % Internal Audit Analyst,000 -,000 0,000 -,000 % Associate / Manager / AVP 0,000-0,000,000 -,000 % VP 0,000-0,000,000 -,000 % SVP / MD 0,000,000 % Project Management Analyst,000-0,000 0,000-0,000 0% Associate / Manager / AVP,000-0,000,000-0,000 0% VP 0,000-0,000 0,000-0,000 0% SVP / MD 0,000 0,000 0% Operations Project Management Analyst,000-0,000,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Treasury Operations Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Middle Office / Trade Support (all products) Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Please note salaries are in S$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Robert Half 0 Salary Guide

16 Salaries in Singapore Job Title 0 0 % Change Fund Accounting / Administrator Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Client Services / Marketing Support Analyst,000-0,000,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Equity Settlements / Fixed Income Settlements Analyst,000-0,000,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Pricing Analyst Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Corporate Actions Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Documentation Specialist Analyst,000-0,000,000-0,000 0% Associate / Manager / AVP 0,000-00,000 0,000-00,000 0% VP 00,000-0,000 00,000-0,000 0% SVP / MD,000,000 0% Loans Administrations / Documentations Analyst,000-0,000,000-0,000 0% Associate / Manager / AVP,000-00,000,000-00,000 0% VP 0,000-0,000 0,000-0,000 0% SVP / MD,000,000 0% Front Office Corporate Finance / M&A Analyst 0,000-0,000 0,000-0,000 0% Associate / Manager / AVP,000-0,000,000-0,000 0% VP 0,000-0,000 0,000-0,000 0% SVP / MD 0,000 0,000 0% Robert Half 0 Salary Guide

17 Salaries in Singapore Job Title 0 0 % Change Investment Advisory / Research AnalyST Analyst 0,000-0,000 0,000 -,000 % Associate / Manager / AVP 0,000-0,000 0,000 -,000 % VP 0,000-00,000 0,000-0,000 % SVP / MD 00,000 0,000 0% Relationship Manager (Wholesale Banking) Analyst 0,000-0,000,000-0,000 % Associate / Manager / AVP 0,000-0,000,000 -,000 % VP 0,000-00,000,000-0,000 % SVP / MD 0,000,000 % Dealer Analyst,000-0,000,000-0,000 0% Associate / Manager / AVP 0,000-0,000 0,000-0,000 0% VP 0,000-00,000 0,000-00,000 0% SVP / MD 0,000 0,000 0% Insurance Analyst,000-0,000,000 -,000 % Associate / Manager / AVP 0,000-0,000,000-0,000 % VP 00,000-0,000 00,000-00,000 % SVP / MD,000 0,000 % Please note, salaries are in S$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Robert Half 0 Salary Guide

18 Hiring outlook in Japan Employment opportunities in the banking and financial services sector will largely depend on the performance of the Japanese economy. The yen has weakened considerably in recent months and the Nikkei is predicted to perform well this year. However, Japan s economic growth appears poised to continue at a moderate pace, with a limited number of new positions created within the banking and financial services sector in Japan. The strongest demand is for internal audit, management reporting, finance and IT projects talent with three to eight years of relevant experience, as well as professionals experienced in navigating Dodd-Frank Act compliance readiness. Employers are looking for candidates who not only have technical skills and a combination of US CPA, Japan CPA, CIA, CFE or PMP, but also have good business acumen and strong soft skills. Some companies in Japan are also looking at plans to move part of their operations to lower cost countries. As companies take advantage of their purchasing power to explore acquisitions in both Asia and further afield, there will be opportunities created by these corporate shifts, from managing changes in an organisation to re-aligning finances and business processes. Another group which will do well from the changes in the corporate landscape is the large consulting and accounting firms. These companies will need to grow their teams if they are to benefit from the increase in merger and acquisition advisory work, as well as the resulting demand for due diligence work. Companies seeking to replace a vacant post or fill a new one can be extremely demanding when it comes to the quality of candidate they desire. Japan however, has a strong pool of experienced financial services professionals to tap on. The challenge is to convince a talented professional to change to a new company or to take on a new role, as some employees tend to be more conservative when making choices about their careers. Robert Half 0 Salary Guide

19 Salaries in Japan Job Title 0 0 % Change Risk Credit Risk Analyst,000,000 -,000,000,000,000 -,000,000 0% Associate / Manager / AVP,000,000 -,00,000,000,000 -,00,000 0% VP,000,000 -,000,000,000,000 -,000,000 0% SVP / Director,000,000 -,000,000,000,000 -,000,000 0% Managing Director,000,000 -,00,000,000,000 -,00,000 0% Operational Risk Analyst,000,000 -,00,000,0,000 -,0,000 % Associate / Manager / AVP,000,000 -,00,000,0,000 -,0,000 % VP,000,000 -,00,000,00,000 -,00,000 % SVP / Director,000,000 -,00,000,00,000 -,00,000 % Compliance Analyst,000,000-0,00,000,00,000-0,00,000 % Associate / Manager / AVP 0,000,000 -,000,000 0,00,000 -,00,000 % VP,000,000 -,000,000,00,000 -,00,000 % SVP / Director,000,000 -,000,000,00,000 -,00,000 % Managing Director,000,000 -,000,000,00,000 -,00,000 % Finance Management Reporting Analyst,000,000 -,00,000,000,000 -,00,000 0% Associate / Manager / AVP,000,000 -,00,000,000,000 -,00,000 0% VP,000,000 -,000,000,000,000 -,000,000 0% SVP / Director,000,000 -,000,000,000,000 -,000,000 0% Financial Control Analyst,000,000 -,000,000,000,000 -,000,000 0% Associate / Manager / AVP,000,000 -,000,000,000,000 -,000,000 0% VP,000,000 -,00,000,000,000 -,00,000 0% SVP / Director,000,000 -,00,000,000,000 -,00,000 0% Managing Director,000,000 -,000,000,000,000 -,000,000 0% Tax Analyst,000,000 -,000,000,000,000 -,000,000 0% Associate / Manager / AVP,000,000 -,000,000,000,000 -,000,000 0% VP,000,000 -,000,000,000,000 -,000,000 0% SVP / Director,000,000 -,000,000,000,000 -,000,000 0% Managing Director,000,000 -,000,000,000,000 -,000,000 0% Internal Audit Analyst,000,000-0,000,000,00,000-0,00,000 % Associate / Manager / AVP,000,000 -,00,000,00,000 -,00,000 % VP,000,000-0,000,000,00,000-0,00,000 % SVP / Director 0,000,000 -,000,000 0,00,000 -,00,000 % Managing Director,000,000 -,000,000,00,000 -,00,000 % Please note, salaries are in, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Robert Half 0 Salary Guide

20 Salaries in Japan Job Title 0 0 % Change Finance Projects Analyst,000,000 -,00,000,00,000 -,0,000 % Associate / Manager / AVP,000,000 -,000,000,00,000 -,00,000 % VP,000,000 -,000,000,00,000 -,00,000 % SVP / Director,000,000 -,00,000,00,000 -,00,000 % Managing Director,000,000 -,000,000,00,000 -,00,000 % Financial and Transaction Advisory Associate,00,000 -,00,000,000,000 -,000,000 % Senior Associate,00,000 -,00,000,000,000 -,000,000 % Manager,00,000-0,00,000,000,000 -,000,000 % Senior Manager / Vice President,000,000 -,00,000,000,000 -,000,000 % Director,000,000 -,00,000,000,000 -,000,000 % Partner,00,000 -,000,000,000,000-0,000,000 % Operations and Transformation Operations Analyst,000,000 -,000,000,000,000 -,000,000 0% Associate / Manager / AVP,000,000-0,000,000,000,000-0,000,000 0% VP 0,000,000 -,000,000 0,000,000 -,000,000 0% SVP / Director,00,000 -,000,000,00,000 -,000,000 0% Managing Director,00,000 -,000,000,00,000 -,000,000 0% Project Management Business Analyst,000,000 -,000,000,00,000 -,00,000 % Junior Project Manager,000,000 -,000,000,00,000 -,00,000 % Project Manager,000,000-0,000,000,00,000-0,00,000 % Program Manager / Senior Project Manager 0,000,000 -,000,000 0,00,000 -,00,000 % Head of PMO / Program Director,000,000-0,000,000,00,000-0,00,000 % Management Consulting Associate,000,000 -,000,000,000,000 -,000,000 0% Senior Associate,000,000 -,000,000,000,000 -,000,000 0% Manager,000,000 -,000,000,000,000 -,000,000 0% Senior Manager / Vice President,000,000 -,000,000,000,000 -,000,000 0% Director,000,000 -,000,000,000,000 -,000,000 0% Partner,000,000 -,000,000,000,000 -,000,000 0% Please note, salaries are in, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. 0 Robert Half 0 Salary Guide

21 Remuneration trends The market for skilled professionals is more competitive than it has been in several years. In this environment, employers are losing out on the best applicants by moving too slowly or failing to make a competitive offer. Retention concerns are also rising and businesses need to make extra effort to ensure their compensation is competitive and appealing to their employees. This is reflected in the latest Robert Half survey of senior Financial Services leaders in Asia, which revealed that % of respondents in Singapore, % in Hong Kong and % in Japan are planning to increase salary levels in 0. In the next months, how much do you expect salaries to increase for existing financial services employees? > 0% -0% -% -% -% -% Hong Kong: % Singapore: % Japan: % Hong Kong: % Singapore: % Japan: % Hong Kong: 0% Singapore: % Japan: % Hong Kong: % Singapore: % Japan: % Hong Kong: % Singapore: % Japan: % Hong Kong: % Singapore: % Japan: % Source: Robert Half survey of 0 senior Financial Services leaders in Asia. Note: Percentages may not total 00% due to rounding. Robert Half 0 Salary Guide

22 Hiring outlook for Technology Technology is one area where banks and financial institutions are looking to increase their capabilities, as well as their headcount. Whether it is providing better online services for customers, improving productivity or making compliance easier, financial firms are turning to technology to provide answers. eadsh ets There is intense competition among companies to get the best IT talent, and recruitment is not limited to the country where the position needs to be filled. Our survey of Chief Technology Officers (CTOs) and Chief Information Officers (CIOs) working within financial services organisations in Asia reveal that many are finding it challenging to recruit IT professionals with the skills and experience they require. % of those surveyed in Hong Kong, % in Singapore and % in Japan are experiencing challenges finding skilled technology staff today. CTOs and CIOs in Hong Kong are expected to be the most active in their hiring plans with % of those surveyed indicating they plan to add permanent IT headcount in the first half of 0. Singapore is close behind with % planning to add IT headcount, followed by 0% in Japan. Within the banking and financial services sector, there is also an increase in the number of companies reducing costs and outsourcing IT functions to other Asia Pacific locations. The roles which remain within the organisation are the more strategic ones or those where the information used is of a sensitive nature. Management % of Hong Kong CTOs and CIOs find it challenging to locate skilled technology staff today % of Singapore CTOs and CIOs find it challenging to locate skilled technology staff today % of Japan CTOs and CIOs find it challenging to locate skilled technology staff today Qua Robert Half 0 Salary Guide

23 Technology skills in demand The last months has seen a growth in the demand for IT professionals focused on solutions for cloud, mobile, and social networking technologies. In addition, IT professionals who possess certifications, including CISA, ITIL and PMI are most in demand across the region. Like all other positions in the banking and financial services industry, employers want candidates with strong management and communication skills. It is not good enough to be able to talk tech with other IT professionals. A strong candidate will possess the ability to communicate problems and solutions effectively to managers that may not be as technologically literate as they are. In which functional area is it most challenging to find skilled IT professionals? rterly Close Software development % Security % Systems administration % Applications development 0% Networking 0% Data / database management % Help desk / technical support % Project management % Business analysis % Web development / Web design % Quality assurance % Year-end Other / Don t know % Business Acumen Source: Robert Half survey of 00 CTOs and CIOs in Asia. Note: Percentages may not total 00% due to rounding. Robert Half 0 Salary Guide

24 Which of the following technical skill sets are most in demand in your IT department? Database management 0% Network administration / engineering % Systems administration % Business intelligence / reporting services % Programming languages % Wireless network management 0% Application development % Desktop support % Windows administration / engineering % Web development % Virtualization % Quality assurance % ERP implementation % Telecommunications support (VoIP) % Big data analysis % Other / Don t know 0% Source: Robert Half survey of 00 CTOs and CIOs in Asia. Multiple responses were allowed. Robert Half 0 Salary Guide

25 Salaries in Hong Kong Job Title 0 0 % Change Analyst Programmer 0,000-0,000 0,000-0,000 % Application / Production Support Manager 0,000-0,000 0,000 -,000,000 % Architect (Applications, Solutions, Systems, Data) 0,000-0,000 0,000 -,000,000 % Back Office Application / Production Support 00,000-0,000 00,000-0,000 % Business Analyst 0,000-0,000 0,000-0,000 % Business Intelligence Specialist 0,000-0,000 0,000-0,000 % CIO / CTO,0,000,00,000 % Data Warehousing Specialist 0,000-0,000 0,000-0,000 % Database Administrator / Developer 00,000-0,000 00,000-0,000 % Desktop Analyst,000-0,000 0,000-0,000 % ERP Consultant 00,000-00,000 00,000-0,000 % Front Office Application / Production Support 00,000-0,000 0,000-0,000 % Helpdesk Analyst 0,000-0,000 0,000-0,000 % Helpdesk Lead / Manager 0,000-0,000 0,000-0,000 % Infrastructure Manager 0,000-0,000 0,000-0,000 % IT Auditor 0,000-0,000 0,000-0,000 % IT Manager 0,000-0,000 0,000-0,000 % IT Security / IT Risk 0,000-00,000 0,000-0,000 % Lead Software Developer 00,000 -,0,000 00,000 -,00,000 % Network Administrator 0,000-0,000 00,000-0,000 % Network Engineer,000-0,000 00,000-0,000 % Network Manager 0,000-0,000 00,000-0,000 % Programme Manager 00,000 -,00,000 0,000 -,00,000 % Project Coordinator 0,000-0,000 0,000-0,000 % Project Management Officer 0,000-0,000 0,000-0,000 % Project Manager 0,000-0,000 0,000 -,000,000 % Security Analyst / Consultant 0,000-0,000 0,000-0,000 % Senior Business Analyst 0,000-0,000 0,000-0,000 % Service Delivery Manager 0,000-0,000 0,000-0,000 % Software Development Manager 0,000 -,0,000 0,000 -,00,000 % Storage Consultant 0,000-0,000 0,000-0,000 % Systems Analyst 0,000-0,000 0,000-00,000 % Test / QA Lead / Manager 00,000-0,000 00,000-0,000 % Test / QA Analyst 00,000-0,000 00,000-0,000 % Trade Floor Support 0,000-0,000 0,000-0,000 % Unix Administrator 00,000-0,000 00,000-00,000 % Unix Manager 0,000 -,000,000 0,000 -,000,000 % Voice / Data / Telephony Engineer 00,000-0,000 00,000-00,000 % Windows Admistrator 00,000-0,000 00,000-00,000 % Please note, salaries are in HK$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Robert Half 0 Salary Guide

26 Salaries in Singapore Job Title 0 0 % Change Application Analyst,000-0,000,000-0,000 % Application Manager,000-0,000 0,000-00,000 0% Architect,000-0,000,000-0,000 % (Applications, Solutions, Systems, Data) Business Analyst,000-0,000,000-0,000 % Developer,000-0,000 0,000-0,000 % Helpdesk Manager,000-0,000,000-0,000 % IT Director / Chief Information Officer 0,000-00,000 0,000-00,000 % IT Manager,000-0,000,000-0,000 % Network / Infrastructure Manager,000-0,000,000-0,000 0% Network Engineer,000-0,000,000-0,000 % Programme Manager 0,000-0,000 0,000-00,000 0% Project Management Officer,000-0,000 0,000-0,000 % Project Manager,000-0,000 0,000-0,000 % Security Analyst / Consultant,000 -,000,000 -,000 0% Senior Business Analyst 0,000-0,000 0,000-0,000 % Support Analyst,000-0,000,000-0,000 0% Systems Analyst,000-0,000 0,000-0,000 % Test Analyst 0,000 -,000 0,000-0,000 % Test Manager,000-00,000 0,000-00,000 % Please note, salaries are in S$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Robert Half 0 Salary Guide

27 Salaries in Japan Job Title 0 0 % Change Application Development Manager 0,000,000 -,000,000 0,000,000 -,000,000 0% (Front, Middle, Back Office) Application Support,000,000 -,000,000,000,000 -,000,000 0% Architect (Applications, Solutions, Systems, 0,000,000-0,000,000 0,000,000-0,000,000 0% Data, Infrastructure) Business Analyst,000,000 -,000,000,0,000 -,000,000 % Business Intelligence Specialist,000,000 -,000,000,00,000 -,00,000 % Change Manager,000,000 -,000,000,000,000 -,000,000 0% Client Relationship Manager,000,000 -,000,000,000,000 -,000,000 0% Database Administrator,000,000 -,000,000,00,000 -,000,000 % Data Center Manager,000,000 -,000,000,000,000 -,000,000 0% Data Warehousing / Modelling Specialist,000,000 -,000,000,000,000 -,000,000 0% Desktop Support / Analyst,000,000 -,000,000,000,000 -,000,000 0% E-Business Manager,000,000 -,000,000,000,000 -,000,000 0% ERP Consultant,000,000 -,000,000,00,000 -,000,000 % Front Office Developer / Architect,000,000 -,000,000,000,000 -,000,000 0% Front Office Market Data Engineer,000,000 -,000,000,000,000 -,000,000 0% Helpdesk / Desktop Support,000,000 -,000,000,000,000 -,000,000 0% Helpdesk Manager,000,000 -,000,000,000,000 -,000,000 0% IT Audit / IT Security / IT Risk,000,000 -,000,000,000,000 -,000,000 0% IT Director / Chief Information Officer,000,000-0,000,000,000,000-0,000,000 0% Infrastructure / Operations Manager,000,000 -,000,000,000,000 -,000,000 0% IT Manager,000,000 -,000,000,000,000 -,000,000 0% Middle / Back Office Developer / Architect,000,000 -,000,000,000,000 -,000,000 0% Network Engineer / Manager,000,000 -,000,000,000,000 -,000,000 0% Network Support / Engineer / Manager,000,000 -,000,000,000,000 -,000,000 0% Pre-sales / Post-sales (ERP / Software /,000,000 -,000,000,00,000 -,00,000 % Solution / Infrastructure) Professional Services Manager / Director,000,000 -,000,000,000,000 -,000,000 0% Programme Manager 0,000,000 -,000,000 0,000,000 -,000,000 0% Programmer / Developer,000,000 -,000,000,000,000 -,000,000 0% Project Coordinator,000,000 -,000,000,000,000 -,000,000 0% Project Manager,000,000-0,000,000,00,000-0,00,000 % Sales / Business Development Director,000,000-0,000,000,00,000-0,000,000 % Sales Representative (ERP / Software /,000,000 -,000,000,000,000 -,000,000 0% Solution / Infrastructure) Security Consultant,000,000 -,000,000,000,000 -,000,000 0% Service Delivery Manager,000,000-0,000,000,000,000-0,000,000 0% Storage Consultant,000,000 -,000,000,000,000 -,000,000 0% System Administrator (Wintel / Network /,000,000 -,000,000,000,000 -,000,000 0% Database) Systems Analyst,000,000 -,00,000,000,000 -,00,000 0% Test / Quality Assurance Analyst,000,000-0,000,000,000,000-0,000,000 0% Unix Administrator,000,000 -,000,000,000,000 -,000,000 0% Voice / Data / Telephony Engineer,000,000 -,000,000,000,000 -,000,000 0% Windows Administrator,000,000 -,000,000,000,000 -,000,000 0% Please note, salaries are in, represent average remuneration, and do not include pension schemes, bonuses or any other benefits. Robert Half 0 Salary Guide

28 The finance growth challenge: Increasing productivity With teams charged with taking on additional responsibilities, often without corresponding headcount additions, finance departments will have to learn how to be more productive. In fact, nearly all (%) CFOs in a recent survey conducted in Asia said that their companies are more productive than one year ago. Which three of the following factors, if any, has most contributed to your company becoming more productive than one year ago? Technology improvements... % Hiring of additional permanent headcount... % Staff are doing more with existing resources... % Hiring of additional temporary / interim headcount... % Offering overtime pay / benefits... % Process / infrastructure improvements... % Remote working... % Source: Robert Half survey of 00 CFOs in Asia. Multiple responses permitted. Studies have shown the link between a higher degree of employee engagement and improved organisational performance and productivity. Employees who are genuinely engaged with their organisation experience more job satisfaction and will often show a willingness to go over and above their specific role to help their manager. This will ultimately have a positive effect on organisational productivity. However, companies should be mindful that expecting employees to do more with the same resources may not be a viable long-term solution. If companies are overly reliant on this strategy, they run the risk of employee burnout. Robert Half 0 Salary Guide

29 Four tips for making your department more productive: Enhance IT Streamlining financial management processes through financial systems and ERP solutions allows companies to capture operating efficiencies while aligning data with organisational strategy. Improvements in technology also allow companies to enhance their financial management controls and satisfy increasingly stringent regulatory compliance obligations, leading to enhanced productivity. Challenge processes Holding discussions with other business units as well as team members will allow managers to assess areas for process improvement as well as strategies for implementation. This helps finance leaders create a roadmap to identify where efficiencies exist through centralisation and what should be left to the business units. This in turn will allow the finance function to focus on more strategic initiatives. Tackle training Ensuring your team stays up to date with the latest regulatory and technology changes will not only keep their skills sharp but also help you improve productivity. Enhancing their interpersonal and presentation skills will also improve communication across inter-departmental teams. With numerous e-learning options to supplement traditional course work, ongoing professional development can be both cost effective and impactful. Re-organise As departments continue to be stretched thin, it is often important to play to each individual s strengths. This may mean a re-evaluation and re-organisation of the team, allowing individuals to focus on areas where they are strongest and most productive. Whereas tackling regulatory requirements may be better suited to a strong technical accountant, business partnering and strategy may be more fitting for the commercially minded. Robert Half 0 Salary Guide

30 The rise of the super contract professional They arrive with the right expertise for the job and they get it done professionally, effectively and with minimum fuss. They are the super contract professionals highly talented and skilled people who eschew the traditional path of building a career within a company to offer their services as contract staff to the highest bidder. More and more professionals are drawn to temporary work because of the flexibility and opportunities it provides. There s also a change taking place in the way businesses staff their operations. Finance teams are increasingly attracted to the flexibility they can gain by employing a combination of permanent, temporary and interim workers. A flexible staffing approach gives companies greater control over their human resources budget and access to skilled talent as and when they need it. As companies continually rebalance their workforce in good and difficult times, many find that a year-round mix of core permanent employees and temporary workers is the best way to meet business demands and remain competitive. Here are five advantages you gain by using temporary and interim professionals as part of your workforce mix. You can:. Adjust staffing levels to the peaks and troughs of business demands, helping you keep costs under control. Ease the burden on employees who may already be spread too thin. Handle special projects outside the expertise of current staff = = Adviser Connections Lean teams Communication Soft Skills Global Rising workloads XBRL Strategic Customer service Technology Regulations Management Negotiation Growth IFRS TAX Accounting Collaboration GAAP Business demands Compliance Business Acumen Growth Leadership Connections Regulatory Project Implementation Negotiation Management Strategy Integrity Financial Reporting Audits Ethics Business Acumen Leadership Pivot Tables Leadership XBRL GAAP Financial insight Well-rounded General ledger Accounting Compliance Connections Compliance Regulations Technology TAX Adviser Integrity Strategy Technology Quarterly Close Modelling Relationships Collaboration Quarterly Close Hiring Activity XBRL Spreadsheets Financial Reporting Accounting Financial Reporting SAP Expert Enhance IT Ethics Global Spreadsheets SAP Negotiation Do More With Less TAX Audits Guidance Spreadsheets Budgeting Change management Collaboration Pivot Tables Strategic decision-making Strong Process Analysis Customer service Year-end Soft Skills Business partnering Growth Well-rounded Guidance Regulations Business Acumen Forecasting Enhance IT Expert Collaboration Strategic decision-making Financial systems Communication Pivot Tables Strategy New Revenue Sources Do More With Less TAX Continuous learning Forecast Well-rounded Forecast Process Improvement Integrity Communication Management Leadership Integrity. Ease the concerns of permanent workers, who may otherwise be subject to nerve-racking cycles of hiring and redundancies. Assess prospective permanent employees The bottom line: flexible staffing gives a company resource and cost-control options it wouldn t otherwise have. 0 Robert Half 0 Salary Guide