An
international financial center with pro-business policies and government
policies with a strategic location near to China, higher salary packages, Hong Kong
is indeed a hub for career for many young professionals. The attractive
policies in the banking system make Hong Kong one of the prominent banking hubs
in Asia-Pacific region. There are many operating banks in the country. There
are almost 70 of the world’s top 100 banks operating, offering lucrative banking jobs in Hong Kong. The banking system in Hong Kong is featured by a
three-tier system, comprising 3 types of banking institutions. These include
175 licensed banks, 19 restricted licensed banks and 17 deposit-taking
companies. Each institution offers lucrative job opportunities for a
prospective career growth.
We present below the popular jobs in Hong Kong in the banking
sector.
The banking and finance sector is very competitive in Hong Kong. Some of the top banks in Hong Kong where you can apply for banking jobs are Hong Kong and Shanghai Banking Corporation (HSBC), Bank of China (Hong Kong), Standard Chartered Bank (Hong Kong), DBS Bank, Industrial and Commercial Bank of China (ICBC) and many more.
Contracting
One of the most popular entry level jobs in banks is the contracting job position. Contracting job position sees a steady growth over these years with banks off-shoring their Business as usual (BAU) functions and the increased regulatory requirements. There are many contracting requirements in the KYC and client on-boarding functions in banks of Hong Kong. Banks in Hong Kong are recruiting contractors for their middle office, settlements and documentation teams.
Accounting and finance
Accounting and finance are popular banking jobs in Hong Kong. There is increased demand for specialist roles in this domain in banks, especially after 2016. At the mid-management level, these roles are taken up by professionals as replacement roles. There are both contractual and permanent positions for this job role. Many banks in Hong Kong require experienced professionals in the banking sector with the recent regulatory changes in the finance sector. Candidates need to cope with these changes, expand existing reporting processes and introduce new regulatory reporting system.
Internal audit
When it comes to banking jobs in Hong Kong, how can you forget the internal audit functions? Internal auditors are greatly in demand in banks. There are jobs related to various skill sets in banks for auditing, such as financial markets audit, compliance and risk management, IT auditing etc. The banking sector in Hong Kong has recently seen many changes, leading to a great need for internal auditors in this sector. In particular, quality assurance roles remain to be in the top level banking jobs in Hong Kong where the auditors provide an independent oversight of governance functions of banks.
Compliance AML manager
Another worth mentioning banking job in Hong Kong is that of a Compliance AML manager. Compliance is very important due to the evolution of the regulatory landscape. There have been increasingly stringent regulations governing banks in Hong Kong, including financial services firms. There is continuous demand for specialist roles. The popular compliance job roles include the roles of Financial Crimes Compliance (FCC), Anti-Money Laundering (AML), Customer Due Diligence and Transaction Monitoring etc. Smaller banks in Hong Kong, however, look for generalist roles in this sector.
Project Assistant/Tester Corporate Bank Treasury System
Degree holder candidates with accounting professional qualifications can apply for this banking job in Hong Kong. The job role is to support the implementation of the Treasury System of the bank, should involve in test phases, data migration, validating accounts, UAT test arrangement and so on. All actions need to be taken in line with business action plans of the back. The role allows the candidate to be the contract point between system vendor and Financial Control Division.
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