Regulatory compliance, risk management and wealth management to lead 2025 hiring demand
Rising costs of living, geopolitical uncertainties and regulatory changes made for a tense, cost-conscious climate within the Banking & Financial Services sector in 2024.
Job seekers prioritised job security and compensation over career growth amid cost cutting and hiring freezes across the industry. Most companies were cautious in hiring, but facing evolving regulations and market instabilities, demand was high for experts in international finance and risk management.
“Moving forward, the hiring market will continue to be dynamic and competitive,” states Shihua, Goh, Senior Consultant at Robert Walters Singapore. “Companies that can navigate current conditions and invest in their talent will be well positioned for success.”
Read on to find out more about Shihua’s expectations of the labour market and hiring trends for Banking & Financial Services professionals in Singapore in 2025, specifically for contract positions.
More attention on skills, employee experience and sustainability
As the industry’s technological and regulatory landscape rapidly evolves, both businesses and candidates recognise the importance of upskilling. Particularly in specific domains like fintech, blockchain and ESG investing, Shihua says that companies will adopt more of a skills-based approach to hiring, where candidates are considered for the skills that they bring to the table instead of traditional qualifications.
Companies will also prioritise retaining top talent by investing in employee wellbeing, career development, and flexible work arrangements to reduce turnover.
The spread of ESG and sustainability within the industry will further raise demand for talent skilled in sustainability, climate risk management and socially responsible investing. Financial institutions rely on these experts to integrate ESG considerations into business strategies as they work to meet investor and stakeholder expectations.
Hiring for complex market conditions and regulatory frameworks
The most sought after roles in 2025 are regulatory compliance officers, wealth and portfolio managers, and risk management specialists. “These roles are in high demand due to the complexity of financial markets, the need for meeting strict regulatory compliance, and the increasing significance of personalised financial services,” explains Shihua.
The most in-demand technical skills are also a response to these market conditions, with businesses seeking talent proficient in navigating complex regulatory environments, as well as those skilled in data analysis and interpretation for support in projects involving big data, customer insights and financial forecasting.
Soft skills like adaptability, flexibility, communication, collaboration, problem-solving and critical thinking are deeply valuable – especially as digital transformation reshapes the sector and professionals engage in more short-term assignments.
Candidates more strategic about job moves
Motivations have evolved for contract professionals, who now search for positions that match their long-term career and personal goals. They now discern what is offered in a given opportunity, weighing areas like flexibility, skills development, compensation and networking.
Flexibility is one of the top reasons why many opt for contract roles, as it provides professionals with the choice of projects and schedules that fit their personal needs. Others that prioritise skills development will go for roles that let them gain diverse experiences and new skills, particularly positions with career progression pathways or exposure to cutting edge technologies. Candidates now also recognise that contract positions provide a great platform for building connections with different teams and organisations, which they consider valuable for future career opportunities. Lastly, Shihua notes that although pay is important, candidates also look out for perks like annual leave entitlements, family-friendly benefits, and medical and dental coverage.
For professionals navigating the current job market, Shihua advises maintaining a positive and proactive outlook.
“Reconnect with former colleagues, mentors and industry contacts to uncover new opportunities and seek valuable support, especially during periods of uncertainty such as layoffs. When considering new roles, think strategically about whether the job offers the growth you’re seeking, or if it aligns with your long-term career goals. Building resilience and continuously upskilling – whether through certifications or honing soft skills like communication and leadership – will keep you competitive and well-positioned for future opportunities,” she says.
Attraction and retention strategies for contract talent
To attract top contract talent, companies should streamline hiring processes for efficiency, offer competitive compensation packages, and leverage specialised recruitment agencies to quickly source the right candidates. Highlighting unique projects and cutting-edge opportunities can also draw professionals seeking valuable experience and growth.
For retention, providing flexibility in work arrangements is crucial, along with maintaining clear communication through regular check-ins and feedback sessions.
Offering professional development opportunities and fostering a positive, inclusive work environment where contract professionals feel valued are key to keeping talent engaged and committed.
Salaries to change based on demand
Salary packages for contract positions in the sector tend to fluctuate on economic conditions and global competition, notes Shihua. The most highly requested roles and skillsets are likely to see more substantial pay increments. These include positions in data analysis, cybersecurity, regulatory compliance and risk management. Outside of this, salaries are expected to shrink or remain stable for other positions.
Find out more
Request access to our 2025 Salary Survey to benchmark salaries and to find out more about key hiring trends for Banking & Financial Services contract professionals in Singapore.
