The continued growth of shared service centres (SSCs) in Malaysia is increasing demand for highly-skilled senior finance professionals, says recruiting experts Hays.
According to the recruiter’s latest Hays Quarterly Report for October to December, strong demand also exists for Tax professionals, Financial Controllers and Risk Managers within the commercial sector.
“A growing number of SSCs are being established in Malaysia and require senior candidates with specialised process knowledge who can have a positive impact on their growing operations,” says Tom Osborne, Country Manager of Hays in Malaysia.
“The shared service industry is increasingly turning to the commercial arena to obtain the core finance skills required to move up the business value chain. By hiring more professionals with these skills SSCs can develop their technical financial processes and analytics functions.
“However, the industry is finding it challenging to attract high calibre talent as candidates perceive SSCs as ‘cost centres’ and don’t want to limit their career progression.
“In order to retain and attract highly-skilled Accountants, SSC employers need to review their remuneration packages, create learning & development opportunities and offer internal transfers to other job functions and business operations.”
It’s not just SSCs that require highly-skilled Accountants. “There has been continual demand for senior level Financial Controllers who have international experience and regional exposure with genuine multinational companies. Demand for these professionals is strongest in the oil & gas, healthcare, technology and FMCG sectors.
“As the deadline for Basel II projects approaches and banks prepare for Basel III, they are employing more Risk Managers in the area of risk modeling to either develop new models or to ensure the correct implementation of models. Banks are also tightening the analysis and infrastructure of their credit risk function.”
Meanwhile, there is a shortage of tax professionals across the board in both direct and indirect tax. “While some employers are hiring consultants or adopting a learn as you go approach, others are looking for candidates with a mix of experience in both commercial and practice firms, especially those with regional and transfer pricing experience. Tax roles are expected to increase in the months ahead because of the GST implementation that will start in April 2015,” says Tom.
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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