What finance positions in the financial-services industry will be hot in 2013? While economic and political uncertainty held back job growth in 2012, this year hiring activity is expected to be strong in six areas in particular, according to a new report from executive-recruiting firm CTPartners.
Compliance manager. Today’s strong regulatory environment means companies need compliance teams capable of protecting their alignment with complex laws, including the Dodd-Frank Act and Obamacare. Infrastructure hiring — of risk, financial, audit, compliance, legal, technology, and operational executives — will be brisk in 2013 in response to regulatory requirements.
Officer, government and regulatory affairs. Companies in highly regulated industries, such as pharmaceuticals, medical devices, energy, and financial services, will be seeking top leadership to navigate complex regulations. Technical knowledge of product life cycles to assure safe and effective products in health care, for example, or accounting and investment practices within regulations in financial services to avoid global economic crises, continue to make these positions priority hires.
Chief risk officer. A critical role since the upheaval caused by the 2008 financial crisis, CROs are responsible for protecting and managing all types of risk, from enterprise risk to market credit and operational risk. Dodd-Frank and Basel III added another layer of legislation and compliance, keeping control functions in demand across sectors.
Asset-management professional. Investment executives with asset-allocation and macro strategy skills are in demand as global economic pressures continue and regulatory demands as well as operating and technology changes affect key decisions.
Emerging payments officer and payments executive. The interconnection between payments and relationships with consumers has gained momentum that shocked even the most prepared financial-services companies. The payment stream contains a treasure trove of big data that will lead a decade worth of consumer strategy, and financial institutions that miss the opportunity to link with the world’s leading retailers will be left behind. Banks have extraordinary access to knowledge of consumer behavior, so for payments executives who can leverage it, the sky’s the limit.
Wealth-management professional. Wealthy baby boomers, along with other high-net-worth investors, need advice in the face of tax changes, complicated market opportunities, and a cloudy future for global investments. Executives with experience offering financial and investment advice, accounting and tax services, and legal/estate planning will be in demand if the economy improves in 2013 as anticipated.