Recruitment specialist Hays has released its October Quarterly Report finding increasing in hotspots across a variety of financial services sector.


Professional practice

The report found that professional practice candidates are currently enjoying increased overall demand as candidates often leave the industry sector upon completing their qualifications. The report found that demand for tax, business services and senior auditors continue to grow.


Increased candidate confidence has also led to movement in these areas, while tax consulting continues to be a hotspot since many organisations seek better commercial outcomes.


The report found that external auditors are in very high demand, with employers willing to source talent from interstate or overases. The long-term skills shortage in the area and a high drop off rate coupled an increasing number of firms undertaking long-term strategic planning has seen companies looking to substantially increase the size of their audit teams.


Within business services, Intermediate Accountants and Supervisors are also in short supply. Business services Managers are also in strong demand and there are many opportunities for ambitious professionals who have Partnership aspirations,” the report found.


The report also finds that firms are seeking candidates with at leaste two or three years experience who are able to increase productivity and immediately add value.


Many Partners are currently succession planning and are thus seeking quality people who are genuinely looking at taking on equity within a firm.


More information can be found here

Financial services

The report found that accountants with experience across risk and auditing are in great demand, with financial services employers looking to employ solid risk management personnel.


The report found that demand is evident for newly qualified accountants with between no and three years industry experience. The report also found that extensive company restructuring was generating strong progression opportunities, which in turn drives demand for new talent in the lower levels.


Employers are aware that high calibre candidates are hard to come by. Therefore there is a greater desire to recruit based on a candidate's behaviours and then offer training to close any skills gaps,” the report found.


More information can be found here

Public sector

The report found that several hotspots exist of demand for accountancy and finance in the public sector. The report finds that management accountants, cost accountants and financial analysts are needed to manage and deliver budgeting processes.


“Business Analysts are in demand since there has been a major change to funding streams for some not-for-profit businesses (mainly disability). This means organisations are required to analyse all costs of producing outputs and services in order to gain more funding. Therefore activity-based costing experts are needed,” the report finds.


The report concludes that strong technical financial accountants continue to enjoy increased demand. Senior finance manages with a strong focus on change management are also enjoying increased demand.


The report found that entry level payroll and reconciliations clerks are in high demand.


The report concludes that strong demand from the public sector, particularly from Western Australia, was at risk of generating a skills shortage in the public sector financial services area.


More information can be found here


The full report can be found here