After several years in which Hong Kong and Tokyo were the
finance technology leaders, Singapore has rapidly become a leading
financial centre and technology hub in its own right, offering a
wider range of products and services to local and global markets
than ever before.
While for some time Singapore has been considered an ideal
location for global banks to build development, support and
infrastructure hubs to support their expanding global requirements,
more firms are now enhancing their presence there to align these
technology centres to trading desks. While few firms house their
regional trading franchises locally, they are looking to Singapore
to provide a range of trading-specific functions.
This is creating a greater need for technologists with a more
diverse skill set, including specific knowledge of traded
instruments. As a result, the demand for finance technology
candidates has never been higher. Demand is across the full gamut
of skills, from the traditional focus of development and support
functions to the increasingly popular project skills such as
business analysts, project and programme managers, service and
delivery lead skills, as well as QA and testing functions.
C++ and Java developers with strong server-side/real-time
specific development skills are in particular demand, as are Unix,
SQL, Oracle and C# developers (Winforms). FX, fixed income,
commodities and derivatives (generic) are also popular.
In light of the demand for staff, salaries have risen. For
example, business analysts are in short supply (a reflection of
Singapore becoming locally responsible for regional projects), and
there is a definite willingness from most employers to increase
their salaries, especially where candidates have a high level of
relevant business knowledge.
There are many advantages to working in Singapore as a
technologist. The favourable taxation system and quality of life
offered in Singapore compared to Hong Kong or Tokyo are particular
attractions to the market.
And while more exposure to the business can often be gained
through Hong Kong roles, given the demand for the very best
technologists and a shallow local candidate pool, most top-tier
firms are now prepared to recruit individuals without a finance
background, providing they have first-rate skills in their
specialist area. This provides an ideal opportunity for candidates
looking to enter the banking market for the first time.
just say in layman's terms though. no need so complicated
though