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Talent Diversity in the Financial Services Industry. What’s Your Next Move?

The financial services industry has evolved to a point where the search for talent can often be an exacting and crucial exercise. It is therefore quite timely to have a career fair specifically for the industry.

The first such event, the IBBM Financial Services Industry Careers 2011, to be held on Oct 22 at the Kuala Lumpur Convention Centre, is aimed at reaching out to hundreds of potential employees to fill vacancies in the country’s financial institutions.

Institute of Bankers Malaysia (IBBM) chief executive officer Tay Kay Luan says the career fair is targeted at professionals from various fields who are looking for a change in industry or environment, but who are not necessarily switching to another profession or departing from their core competencies.

This will provide the more than 30 participating organizations an opportunity to widen the net in the hunt for employees with the right skills to deepen the organizations’ talent pools.

“We need to understand that within the banking sector, which is a complex and rapidly growing industry, there is a need for different competencies in different roles,” says Tay.

The industry, he adds, is very important as it accounts for a very high percentage of the country’s GNP. It is also an important employer, with almost 90,000 Malaysians on its payrolls. And this does not even include the banks’ supply chain.

“The banking sector has remained very dynamic and robust in supporting the nation’s economic and social development,” Tay points out.

“To support our role, we have to make sure that bank employees, from the CEO downwards, are equipped with the right knowledge and skills and that they project an adequate level of professionalism to support business demands in an ever-changing environment.”

He adds that the key areas include risk management and compliance, particularly given that more banks are venturing offshore.

“We need to be aware of what’s going on in the industry, and what the banks need, including the competencies required,” he explains.

“The fair is one of the many value propositions we are offering to the banks holistically because the country is running short of good talent. We are looking for people with great interpersonal skills.”

Much has changed in the banking business. A candidate’s qualifications are just one of the criteria in filling a job vacancy. The banks also seek employees who are people-orientated. And if you can write and speak English well, and are sophisticated and articulate, you already have most of the requirements necessary to be in the banks’ workforce, says Tay.

“The fair provides opportunities in the financial services industry to those who are planning on a career change. It will attract these individuals, especially when there are more than 30 leading financial institutions competing with each other to offer the best jobs .”

Tay believes that another group of people who are likely to turn up at the fair will be young graduates from local and overseas universities.

“We keep hearing how this demographic can’t get jobs, but nowadays there are plenty of career opportunities in banks. There are various sections to work in, such as sales, procurement, credit and administration, among others,” he points out.

A job in a bank, says Tay, is still a Top 5 career choice.

IBBM expects at least 1,000 visitors to the career fair. But it is not so much about the numbers. The institute’s primary objective is to help the human resources people at the fair find the right employees for the financial institutions.

“There are a lot of eager people waiting out there,” says Tay. “The participants are likely to receive a lot of applications at the career fair, and by being there, the financial institutions will give the young graduates who visit the fair a chance to talk to the HR teams and find out for themselves what’s available.”

He reminds those coming to the career fair to bring their resumes. Visitors can also look forward to one-on-one consultations and career talks by people from the industry.

“You will find the career fair very interesting,” says Tay. “Come in and have a talk. You have many financial institutions to choose from. They may give you a job.”

DETAILS: IBBM Financial Services Industry Careers 2011 Oct 22, 2011 Conference Hall 2 & 3, Kuala Lumpur Convention Centre 9am – 6pm Free admission

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