Banking Sector. Volatility, but development

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Tatiana Bartiouk, Manager, Antal Russia Banking and Financial Services Recruitment Department

Recruitment activity across Banking and Finance in 2011 has reflected that of the global markets: we have seen volatility, changing approaches to planned recruitment, and contrasting attitudes and opinions across the market.

Whilst some banks have recruited carefully and selectively across a small number of vacancies, other organisations have been recruiting aggressively to fill positions within new business lines or operations and to meet levels required to enable planned further growth.

State banks have seen an increase in market share through organic growth and acquisition of smaller competitors and organisations, and it is the State banks that continue to offer candidates some of the most attractive and high profile career opportunities, and the highest salaries, bonuses and overall packages.  They continue to hire the best professionals, typically looking for candidates with international experience across banking and finance and the ability to bring fresh ideas and implement best practice.

Whilst State banks can rely on scale and resources to attract the best talent, smaller market players often look at innovative service lines, creative products and projects to drive competition and attract talent.  Smaller banks typically require candidates with experience in more specialist areas such as microcredit, e-commerce and mortgage loans.

We continue to have an optimistic outlook for recruitment across the Banking and Finance sectors for 2012.  Not only will State banks and smaller market organisations continue to look for the best talent, there are also a selection of new players that have entered the Russian market such as banking organisations from Asia.  Such organisations continue to look to hire strong candidates across all key disciplines, including general management and senior accountancy.

Demand for mid-level management also continues to come from the Financial Services sector.  These organisations continue to need a wide range of skilled professionals, across Sales and Business Development, Marketing, Risk, Audit, Legal and associated professions.

Investment Banking

Daria Arkhincheeva, Principal Consultant, Antal Russia Banking and Financial Services Recruitment Department

Employers continue to strengthen teams across Investment Banking, and we expect clients to show an increase in demand for analysts, associates and directors across the sector moving forward.

These and related professionals will be needed both within Investment Banks and some Fund providers.  Fund providers continue to be interested in professionals with strong experience of capital raising from financial institutions and private investors (both within Russia and internationally).

Although the recruitment and decision-making process remains the same, organisations are typically looking to consider only the strongest of candidates.

Our recent survey indicates that the majority of professionals within Capital Markets and Corporate Finance are expecting to receive a bonus for 2011.  This is largely due to stronger performances by particular departments, and a decrease in the turbulence and volatility of markets.  However growth in salaries and commitment to bonuses for 2012 will remain unclear until employers finalise their recruitment plans and budgets.
Candidates in Top Demand across Banking and Financial Services include:

• Head of Sales
• Product & Marketing Manager
• Project (Business Process) Manager
• Trader (derivative instruments)
• Analyst

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