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PETALING JAYA: More and more businesses in the country are ramping up their technology and actively scouting for talent in the digital and technological space.
This phenomenon is fuelled by the ravaging Covid-19 pandemic with the Delta variant of the disease rearing its ugly head.
The financial sector is one of the many doing so. This is because it is shifting toward open banking systems, where relevant technological knowledge and skill sets will become paramount going forward.
Hays Malaysia managing director Tom Osborne told StarBiz that with the emergence of Covid-19, companies would have to adapt to a more technologically determined workplace with the introduction of work-from-home practices, e-commerce and cloud technologies.
“The finance industry is among the sectors affected the most by these changes. Malaysian banking is now shifting in the direction of open banking systems which create a more visible role for financial technology (fintech).
“This in turn means that banks will have a greater need for user experience (UX) and user interface (UI) designers who have experience in not only regular banking products, but also e-wallets, electronic know-your-customer (e-KYC) and other similar products,” he said.
Hays is a leading global professional recruiting group. However, he said while junior and mid-level designers are sourced with relative ease, there are fewer designers with team leading experience in the market, and thus, this drives the race for candidates who can lead UX talent.Hays Malaysia Tom Osborne
Moreover, he said with the rise in digital banking, finance and insurance companies are compelled to become more digitally focused. As a result, employers in this industry require an influx of financial, analytical and technical talent who are able to deliver these innovations.
Positions in high demand would be found in finance transformation and process improvement, contract hiring for IFRS 17 projects and general ledger, as well as candidates adept in both accounting standards and systems, he said. IFRS 17 is an International financial reporting standard.
Osborne noted that life sciences companies are also starting to source for project managers and site managers with business acumen and commercial capabilities to support increasing clinical trials in pharma companies.
He said more and more companies are coming around to the benefits of hosting applications on the cloud, which means that 2021 would be a year of exponential demand for cloud technology, sparking a hunt for candidates with cloud security and development, security and operation skills.
With the enforcement of Section 17A of the Malaysian Anti-Corruption Commission Act 2009, he said there would also be a greater demand for lawyers with pertinent legal and compliance experience to ensure that portfolios are adequately covered and costs are saved.