Hiring in Banking and Financial Services (Contract): Guide and Trends in 2026

Demand ticks up for contract talent

Contract positions took on a new allure for employers and professionals in Singapore’s Banking & Financial Services industry over the past year.

In 2025, banks adopted cost-cutting measures amidst sluggish economic conditions and rising costs. Project-based work such as digital transformation initiatives were increasingly supported by contract talent.

The adoption of AI across the industry sped up automation, reducing demand for manual operational roles and creating new positions in AI implementation and oversight.

At the same time, the Monetary Authority of Singapore (MAS) introduced stricter compliance requirements. For businesses, this created a need for help with tasks around risk management and regulatory reporting.

“The convergence of these trends pushed employers to shift their workforce planning towards short-term contracts – allowing them to manage costs and adapt quickly to market changes,” explains Goh Shi Hua, Senior Consultant at Robert Walters Singapore. “Meanwhile, the exposure to high-profile projects and more competitive salaries made contract positions more enticing for candidates.”

Read on to find out more about the labour market and hiring trends for Singapore’s Banking & Financial Services professionals in 2026, with a focus on contract positions.

Growing preference for contract positions

As MAS tightens regulations in areas like digital assets, ESG disclosures and AML and KYC, Shi Hua anticipates a surge in hiring for compliance and risk projects. Banks will lean on contractors to plug skill gaps quickly, without long-term headcount commitments.

Furthermore, the flexibility that comes with contract roles enable businesses to manage costs amidst hiring and headcount freezes. In the year ahead, Shi Hua believes there will be more short-term contracts lasting 6 – 12 months for transformation or regulatory projects.

While remote work is permitted for certain contract roles, most positions are placed on hybrid arrangements. This lets businesses engage better with contract staff with the view of converting them into permanent employees if headcount frees up – part of growing “try before committing” model that’s becoming increasingly common in the industry.

Top roles and skills in demand

Tightening regulations are driving demand for risk and compliance specialists.

The same goes for internal auditors that specialise in financial services, who Shi Hua says banks will tap on to conduct independent reviews of processes like credit risk management, operational risk controls and regulatory adherence.

As banks focus on liquidity management and cash flow optimisation, there will be increased appetite for treasury operations specialists. Those skilled in managing treasury operations, FX settlements, collateral management and cash forecasting have an added advantage.

With contract positions, employers appreciate talent who can adapt fast to new teams and evolving project scopes. Stakeholder management and problem-solving skills are also essential for navigating changes and diverse teams in fast-paced, short-term assignments.

Staying relevant in the age of AI

Contract positions tend to center around repetitive, manual tasks such as transaction processing, basic compliance checks and data reconciliation. As a result, they are especially vulnerable to automation.

Shi Hua’s advice to contract professionals looking to safeguard their careers against AI is to focus on developing skills in interpreting AI-driven insights.

Candidates should also consider growing their careers in areas that require human judgment, such as fraud investigation and strategic risk assessment. Staying updated on MAS regulations around AI adoption in banking also helps professionals stay ahead of industry changes.

How to win over contract talent

Some candidates remain wary about changing jobs as the economic climate remains uncertain.

Companies can appeal to talent by playing to the strengths of flexibility and autonomy inherent to contract work. Exposure to cutting-edge projects, in areas such as AI implementation or sustainability, are also a huge pull factor.

To allay concerns around long-term stability, companies will also do well to offer clear career progression pathways – such as contract extensions or conversion into permanent positions.

Lastly, Shi Hua recommends providing competitive compensation, matched to market trends and niche expertise.

Companies dole out benefits for contract roles

Salaries for generalist contract positions are expected to plateau as automation reduces demand. However, professionals with niche and highly sought after skills will continue to command premium rates.

Job seekers may find that contract positions now include benefits like medical coverage, paid leave and training opportunities. This comes as companies aim to bridge the gap between contract and permanent roles amidst increased competition in the contract hiring market

Find out more

Request access to our 2026 Salary Survey to benchmark salaries and to find out more about key hiring trends for Banking & Financial Services contract professionals in Singapore.