JobTech Records 40% Increase In Banking & Finance Sector Singapore Online Job Postings in 1Q2017

Singapore, 8 May 2017 – JobTechTM records 40% increase in Banking & Finance sector Singapore online job postings in 1Q 2017 – In addition, JobTechTM provides analysis of the top skills sought by Singapore’s Banking & Finance sector.

JobTechTM’s job monitoring technology recorded an increase of more than 800 unique[1] online job postings in the Singapore Banking & Finance sector in 1Q 2017; over the 2,000 unique Banking & Finance sector online job postings captured in 4Q 2016. This represents a more than 40% increase[2] in online job postings when 1Q 2017 is compared with 4Q 2016.

Looking at the average number of unique job postings per month, 1Q 2017 recorded slightly over 950 online job postings per month while 4Q 2016 recorded slightly over 650 online job postings per month, on average. While there is a possible seasonal effect due to hiring patterns in the beginning of the calendar year over the end of the calendar year; a negative signal was also observed from the number of online job postings from January to March 2017 for the Banking & Finance sector, with March recording the lowest number of online job postings in the first quarter of 2017, based on calendar year.

In addition, JobTechTM has identified the most sought-after skills by employers in the Banking & Finance sector in Singapore. Refer to Annex I for details of skill mentions in the job descriptions.

TOP SKILLS SOUGHT BY ALL[3] ONLINE JOB POSTINGS IN THE SINGAPORE BANKING & FINANCE SECTOR IN 1Q 2017

Rank Technical skills   Rank Soft Skills/ Traits   Rank Domain Knowledge[4]
1 Microsoft Office 1 Communication 1 Protocols
2 Sales 2 Interpersonal 2 IT and Business
3 Planning 3 Responsible 3 Science and Technology
4 Analysis 4 Team Player 4 Finance
5 Liaison 5 Meticulous 5 Investment

In general, across the entire Banking & Finance sector, we see at least 20% of the online job postings seeking candidates with skills such as: proficiency in Microsoft Office, Sales, Communication Skills, Interpersonal Skills, Understanding of Technical Protocols and Good Practices.

In addition, JobTech also noted the emergence of 10 additional domain knowledge areas and 16 additional technical skills that showed up in the 1Q 2017 listing. Some of the emerging domain knowledge sought by employers included: Robot Operating System, Relational Database, Safety Compliance, Business Operations, and System Engineering. For the emerging technical skills sought by technology jobs in the Banking and Finance sector, the list included: VSphere, Eclipse, RedHat, Apache Struts, and Phishing. Refer to Annex II for the top skills sought by technology jobs in the Banking & Finance sector.

JobTechTM will continue to provide flash reports covering different sectors in Singapore, with a focus on highly sought after skills and labor market trends. In this regard, JobTechTM is using its Big Data Analytics and Artificial Intelligence capabilities to provide visibility and analysis of the online jobs market in Singapore to support companies and decision makers there.

For more information on the full version of JobTechTM Analytics Reports (Quarterly Sector Reports), please visit http://analytics.jobtech.sg/ for more information.

 

ANNEX I- TOP SKILLS SOUGHT BY ALL ONLINE JOB POSTINGS IN THE SINGAPORE BANKING & FINANCE SECTOR IN 1Q 2017

Rank Technical skills   Rank Soft Skills/ Traits   Rank Domain Knowledge
1 Microsoft Office 1 Communication 1 Protocols
2 Sales 2 Interpersonal 2 IT and Business
3 Planning 3 Responsible 3 Science and Technology
4 Analysis 4 Team Player 4 Finance
5 Liaison 5 Meticulous 5 Investment

Examples of skill mentions in job descriptions:

Skills Job Title Job Description
Microsoft Office Finance Officer …Good computer skills, in particular with Microsoft Office
Sales Chief Marketing Officer …Having sales background and the ability to oversee sales strategy and deliverables is an added advantage…
Analysis Executive Assistant …Outstanding organizational, multitasking and analytical skills with the ability to prioritize and handle multiple projects simultaneously…
Planning HR Specialist …Execute the performance management process, which includes objective setting, development planning and quarterly/annual performance reviews…
Liaison Account Manager …Assist with project management, site meetings, and client liaison whenever necessary…
Communication Account Manager …Excellent communication, presentation and negotiation skills…
Responsible Native translator … Loving in language work, strong sense of responsibility, self-motivated, strong teamwork skills…
Team Player Customer Service Officer …A team player who thrives in a fast paced…
Interpersonal Global Procurement Officer …Strong interpersonal skills with ability to influence strategic direction…
Independent Presales Consultant …Excellent communication and presentation skills. Innovative and independent
Meticulous Sales Support Manager …A meticulous person with an eye of accuracy Possess a strong sense of responsibilities…
IT and Business Account Manager …Strong professional relationships with key IT and business executives…
Science and Technology IT Specialist …Passionate for Information Technology and have the drive to work…
Finance Solution Architect …Experience in Implementing Finance, Supply Chain Management module…
Investment Presales Manager …Assist the growth of the clients’ business through ensuring continuous investment
Protocols Corporate Solution Operations Manager …Good knowledge of DNS troubleshooting and Internet email protocols (MTA, POP, IMAP, SMTP), web services including Apache, Tomcat and Secure remote access protocol

 

ANNEX II- The top 5 most sought-after technical skills, soft skills/ traits and domain knowledge in the Banking & Finance sector were identified and ranked based on the number of unique online job postings that employers were seeking during the period from 1st January 2017 – 31st March 2017, 1Q 2017.

With the increasing role and application of technology in the workplace, JobTechTM offers a deeper analysis of skill requirements for the technology jobs as compared to non-technology jobs in the Singapore Banking & Finance sector.

TOP SKILLS SOUGHT BY TECHNOLOGY JOBS IN THE SINGAPORE BANKING & FINANCE SECTOR IN 1Q 2017

Rank Technical skills Change in Demand[5] (% of All Unique Online Job Postings In Banking & Finance)
1 Computer Skills 0.57%
2 Technical Design 1.62%
3 Package 0.52%
4 Programming 1.23%
5 Agile 0.79%

 

Rank Soft Skills/ Traits Change in Demand (% of All Unique Job Online Postings In Banking & Finance)
1 Communication 1.17%
2 Strategic 0.83%
3 Dynamic 0.32%
4 Competitive 0.46%
5 Resilient 0.70%

 

Rank Domain Knowledge Change in Demand (% of All Unique Online Job Postings In Banking & Finance)
1 Science and Technology 1.39%
2 Infrastructure 0.79%
3 IT and Business 0.69%
4 Software 0.52%
5 Computer Science 1.00%

For domain knowledge, the collective average change in demand is 0.88%. The relative ranking of the top 5 domain knowledge required remains largely the same, with the exception of Protocols, previously ranked 5th in the 4Q 2016 list, being replaced by Computer Science according to the 1Q 2017 data.

Overall the Banking and Finance sector is seeing an increase in both the total number of online job postings and the number of online job postings demanding for each of the skills in their respective top 5 skills list, for the 1Q 2017. There are nonetheless a total of 16 additions to the technical skills and 10 additions to the domain knowledge lists.

Some of the emerging technical skills sought-after by employers included: VSphere, Eclipse, RedHat, Apache Struts, Phishing and more. For the emerging domain knowledge sought-after by technology jobs in the Banking & Finance sector, the list included: Robot Operating System, Relational Database, Safety Compliance, Business Operations, System Engineering and more.

More detailed information can be found in JobTechTM’s Quarterly Sector Reports.

For further information, please contact:
Ms. Charlotte Lim
JobTechTM Co-founder
Tel: +65 6908-7642
Email: charlotte@jobtech.sg

About JobTechTM         
JobTechTM is an Artificial Intelligence, Deep Machine Learning technology platform that was developed to provide complete and accurate visibility of any online jobs market around the world. In Singapore, the technology is able to track and analyse more than 90% of the online jobs in Singapore. The platform is built on deep technology that was developed by the Institute for Infocomm Research (I2R) from the Agency for Science, Technology and Research (A*STAR).

JobTechTM is a 6-month old start-up incubated by Economic Development Innovations Singapore (EDIS) Pte Ltd, a privately-owned international economic development company that is headquartered in Singapore, with overseas offices in the US and Germany. EDIS provides strategic advice and undertakes the development and management of integrated industrial parks. The EDIS management team comprises veterans who led more than 15 successful township and industrial park developments in Asia – cumulatively creating 1 million high value jobs and attracting more than US$20 billion of dollars of foreign direct investment to the selected locations. EDIS works with governments and global investors to leverage Singapore’s development experience for the benefit of other countries.

[1] Duplicate online job postings are detected and sifted out by JobTechTM’s proprietary natural language and text analytics technology which analyses the text in online job postings across multiple portals with over 95% accuracy.

[2] The percentage reported here has not been adjusted for seasonality, the computation here is done based on consecutive quarterly data (4Q 2016 versus 1Q 2017).

[3] This refers to online job postings in JobTechTM’s database for the Banking & Finance sector.

[4] Domain Knowledge refers to knowledge of a certain subject/specialized field that allows an individual to be proficient at applying their understanding to accomplish work-related tasks.

[5] Change in demand reported here reflects quarter-on-quarter change in the number of online job postings that demand for a particular skill which fall within the top 5 lists of each skill category (technical skills, soft skills/ traits, domain knowledge).