Job Prospects for Some of Canada's Specialized Finance Professionals Perks Up as Firms Look to Hire

Randstad Canada sees the job scenario brighten as companies look to fill key specialized roles in the financial sector.

TORONTO, Nov. 8, 2011 /CNW Telbec/ - Finance professionals can bank plenty of job opportunities within niche finance positions as Randstad Canada, the country's leader for staffing, recruitment and HR services, sees a significant increase in hiring demand within certain functions of Canada's financial industry.

At a time when many international banks are announcing massive job cuts, Canadian banks are presenting a much brighter picture. Recent data from the Canadian Bankers Association show that total global employment by Canadian banks hit a record of more than 360,000 in 2010, which is close to a 35% increase from 2000.

Randstad Professionals' Financial Services division, is observing a similar trend in specific roles in Finance, as year over year, the demand for qualified professionals in banking and investment operations for back/middle office roles has increased by 68% within the Toronto market, and 56% in Montreal.

'We are seeing that companies are moving towards a wider diversification of their portfolio, to arm themselves against the market's volatility. In that respect, banking and investment operations specialists are instrumental to that strategy. The demand for core support functions among Canadian Banks is high and will maintain this momentum through 2012,'' explains Jean-François Vézina, Senior Market Manager, Randstad Professionals.

According to Vézina, hiring demand for professionals in Risk Management and Regulation & Compliance in Toronto has also experienced a moderate increase of 20% compared to last year, while in the Montreal market, the increase is more significant, reaching 60% year over year.

"The increase is not surprising as new regulation from Autorité des marchés financiers - which regulates Quebec's financial markets - will put pressure on insurance and investment companies to provide information in a more efficient and transparent way,''  says Vezina. "We will also watch closely how Canada will be impacted by compliance moves on OTC derivative products. But all in all, we expect the demand for specialists in the risk management and compliance fields to remain stable in the upcoming year''.

In the Commerce & Industry sector, Vezina says the company is also seeing the demand for positions related to Accounting and Financial Analysis increasing in all markets. "Companies are in need of specialists in performance, operational and capital analysis. In Vancouver, there has been a 49% increase year over year, 57% in Montreal and 38% in Toronto" he says.According to Vézina, with global competition, new technologies and economic uncertainty, companies are looking for ways to improve their margins, show profits and gain productivity. He says, "Changes in the industry and market pressure means job prospects are looking bright for qualified finance professionals within those specialties in the upcoming year.''

About Randstad Canada: Randstad Canada is the Canadian leader for staffing, recruitment and HR Services. As the only fully integrated staffing company in the country, we understand the recruitment needs and demands of employers and job seekers across all levels and industries. Through our insightful knowledge of local markets, employment trends and global network of recruitment experts, we are shaping the Canadian world of work. Visit randstad.ca

Randstad Canada anticipates tremendous growth in 2011 and is seeking top talent to fill positions in nearly every area of the business. Visit http://www.randstad.ca/about/internal_careers.aspx for internal job openings and to learn more about why Randstad is one of the best places to work.

SOURCE Randstad Canada

For further information:

Dayana Moreno
Marie-Noelle Morency
Telephone
416.962.9578 x2317
514.350.5309 x233


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