New goods and services tax (GST) regulations and the growth of shared service centres have seen jobs for accountancy professionals rise in Malaysia, says recruiting experts Hays.
According to the recruiter’s latest Hays Quarterly Report, jobs have been created for Tax Managers, Accounts Payable and Receivable Managers, Record to Report Leads and Tax Accountants.
“A GST of six percent is due to start on April 1, 2015. The new regulations have created jobs in commercial businesses for Tax Managers with experience in implementing GST,” says Lisa Stanhope, Regional Director of Hays in Malaysia.
“As many tax experts often prefer an advisory role to a compliance and regulatory role in business, there is currently a shortage of these professionals. Candidates with international tax knowledge and experience have an added advantage,” she said.
The recruiter is also seeing jobs growth as a result of the increased use of Shared Service Centres (SSC) in Malaysia. “SSCs continue to be established in Malaysia,” says Lisa. “As more countries are migrated to the SSCs, more permanent jobs will be created.
“We’re already seeing more jobs for Accounts Payable and Receivable Managers and Team Leaders,” says Lisa. “There is a shortage of candidates who are able to move up to the managerial level from transactional process positions.
“Record to Report Leads and Tax Accountants are also needed for statutory and financial reporting. Compliance is required for regulations such as US GAAP and SOX. Candidates with audit, financial and statutory accounting experience are in particular demand,” she said.
To gain a role in a SSC, people need strong technical skills as well as excellent communication and leadership skills since team leaders and managers work closely with local businesses across the region.
Successful candidates also get the opportunity to travel internationally for knowledge transfer, as well as gain exposure to migration projects.
In other areas of demand, the Hays Quarterly Report shows that CFOs and Financial Controllers with international experience and regional exposure are needed, especially in the oil & gas, healthcare, technology and FMCG sectors.
Meanwhile many companies are growing their business through acquisitions in South East Asia and the Middle East, which is creating jobs for Corporate Finance Managers with strong financial modelling skills and an understanding of how local investment businesses operate.
Risk Analysts and Credit Risk Managers are needed as the deadline for Basel II projects approaches for most banks, while there is strong demand for Compliance Officers with a focus on anti-money laundering in order to tighten compliance with regulatory requirements.
For more insight on the areas of staffing demand, please see our Hays Quarterly Report.
Hays is located in Kuala Lumpur at Suite 4 & 5, Level 23, Menara 3, Petronas, Kuala Lumpur City Centre. Phone +60 3 2786 8600 or email email@example.com
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