Hong Kong Career Blog

While the employment markets are tough in the U.S. and U.K., we are still getting more and more requests to search for candidates in the APAC region.  Each week, we will continue to feature some of our latest, most attractive job opportunities.   Below are some of the newest positions for which our clients are recruiting in Hong Kong:

1. Prime Brokerage Middle Office

Our client is a leading Asian Banking group with a growing Cash and Derivative business. Due to current business expansion, a new opportunity now exists for an experience Middle Office executive to join their well-established team.

You will be responsible in providing support to the Equity and FX trade by performing day to day trade booking, pre-settlement matching, reconciliation and follow up on any fail trades. Liaising frequently with Client Service representative and Front Office to resolve trade breaks. In addition, will have to help with the on-boarding of new clients and help to resolve their queries for any trade-related issues.

To qualify, the individuals must possess:

• A university degree with a major in Finance, Economics, Mathematics or any other relevant disciplines
• Minimum of 6 years of experience gained within another Middle Office or Trade support function
• Strong knowledge in Cash or Synthetic Equity products and processes
• Proven ability to communicate effectively
• A energetic, proactive and analytical mindset
• Fluency in both English and Cantonese

2. Manager/Senior Manager, Financial Statuatory Body

Our client is a well known financial services statutory establishment currently looking for a dynamic and committed individual to support their ongoing initiatives and to assist the organisation in facilitating the growth of the banking industry in Hong Kong.

In this role, you will work closely with the banking industry and have multiple opportunities to interact with banking professionals to resolve issues that can impact the industry. The main responsibility of this position will be to act as the establishments representative and will have to issue regular circulars, prepare and drive industry meetings as well as to provide executive support to committees and working groups. In addition, you will prepare reports representing the banking industry to various regulators in refining new regulations and policies.

To qualify, the individuals must possess:

• A university degree with 10 to 12 years of working experience gained from a well-established bank
• Prior HKMA/SFC rules and regulations exposure would be preferred
• Proven project management skills
• An independent and self motivated personality
• Strong problem solving abilities and a passion to be able to liaise with multiple counterparts
• Excellent command in both written and spoken English
• Ability to read and write in Chinese

To find out more about these jobs and to search for other openings, please visit our job search page at Ambition Hong Kong.

At some point, most expats return home after their time in Hong Kong, and when looking for a job back home, your ability to market your overseas experience to employers will be crucial for finding the right role

Often, expats may view their time abroad as a working holiday of sorts, and that’s well and good.  But, potential employers and recruiters may view it the same way and want to know whether or not you have gained any experience that will add value to an organization.  So, here are some things to consider:

1. Being even vaguely familiar with the differences in business practices in Hong Kong and China vs. Western markets can be a huge selling point.  Many companies that would like to do business in the area, are fearful of the somewhat inscrutable nature of the Chinese business environment and if you can be the person that helps illuminate some of the  points on which they are unclear, you’ll be one step closer to landing a job.

2. Unless you are absolutely fluent in spoken and written Chinese, don’t over-emphasize your Chinese language ability.  Unless you are at a native speaking level, there is likely a Chinese candidate out there who is at  a native level in both English and Chinese.  This isn’t to say that you should not point out that you have some skill, but don’t think that just because you took a couple years of Mandarin or Cantonese that you will be significantly more marketable.

3. If you’re not looking for a particularly specialized position, focus on jobs like sales, business development or account management.  These kinds of positions can be good for job seekers with some level of Chinese, but your cultural knowledge and understanding of day to day life in Hong Kong and China will prove to be more of an asset.

The bottom line is, find what you’re good at, find the roles that may suit you and then put a Chinese spin on your skills and work history.  Just because you’ve lived in China will not make you a superstar, but it may just give you the leg up you need when being considered against other candidates.

For more career advice for expats in Hong Kong and China, please visit us at Ambition Hong Kong.

HSBC executives recently threatened to relocate their headquarters from London to parts unknown (read: back to Hong Kong, maybe Singapore) if some reforms currently under consideration by the British government are passed

From thiismoney.com:

“Stuart Gulliver, head of investment banking at HSBC, said it was ‘clearly possible’ the government’s Independent Commission on Banking will recommend a break-up, which would have implications for itself, Barclays and Standard Chartered.

‘That has significant implications for where we may choose to headquarter our institution and that would probably also be the case for the other two institutions,’ Gulliver said at a conference.

‘Our absolute wish is to stay here in the UK, but we won’t know until we see how the Commission responds.’

Chancellor George Osborne created the ICB as part of a major regulatory overhaul that will focus on cutting the risk of corporate failure and mitigating moral hazard in the banking sector.

HSBC Chief Executive Michael Geoghegan moved to Hong Kong earlier this year to be in the bank’s key region.

The CEO of Asia-focused rival Standard Chartered warned last month that the rationale for keeping its headquarters in London was weakening as UK banks face being at a disadvantage to rivals on taxes, pay and regulation.”

We don’t want to get too excited about this, as you can’t just pick up and move the bank’s HQ without spending a lot of the money they are complaining about losing, but the situation bears watching as more bank related jobs may arise in Hong Kong as institutions begin a slow migration (if not a wholesale move) of personnel into Asia.

To view the latest jobs for banking and finance professionals seeking work in Hong Kong, please visit us at Ambition Hong Kong.

Unlike our many of our counterparts in the U.S. and U.K., we are still getting more and more requests to search for candidates in the APAC region.  Each week, we will continue to feature some of our latest, most attractive job opportunities.   Below are some of the newest positions for which our clients are recruiting in Hong Kong:

1. Product Manager – Travel Retail

Based in Hong Kong and reporting to the Head of Marketing you will be responsible for performing product management duties for the AP region with particular emphasis on the travel retail sector. Responsibilities include new product launch set ups, sales forecasting, inventory management, sales analysis and the development of product marketing collateral. Internally you will work with sales and merchandising on point of sales opportunity, visual set ups and counter design. This is a rare opportunity for a dynamic junior candidate to join a unique organization with regional exposure.

To qualify individuals must possess:

• 3+ year’s marketing/sales experience
• Skincare or travel retail experience preferred
• International mindset
• Excellent analytical and project management skills
• Native English
• University degree

2. Category Manager – International Retailer

Based in Hong Kong and reporting to the Divisional Manager, you will manage a group of international suppliers specific to your product line. You will drive sales targets through effective price negotiation, introducing new product initiatives and commanding priority lead-times for faster replenishment. In order to maintain product quality and service to the end consumer, you will act as a consultant to the vendors, monitoring their performance and providing them with feedback on their goods.

To qualify individuals must possess:

• 3+ years FMCG/retail/buying experience
• Exposure to trade term negotiation
• Excellent analytical and negotiation skills
• University degree
• Fluent in English and Cantonese

To find out more about these jobs and to search for other openings, please visit our job search page at Ambition Hong Kong.

Effective networking is a key component of an effective job search.  Whether you are actively seeking work or just testing the waters, there is no substitute for having good relationships with other professionals within your industry.

One great source of information for both expats and locals working in Hong Kong are the myriad chambers of commerce.

Coming up on September 9, 2010, the French Chamber of Commerce in Hong Kong (FCCIHK) will be presenting a course on practical networking:

“This module specifically covers the following topics:

- Networking- definitions and the myths.

- Tips for networking success.

- Building networking into your daily

- Routine-time effective ways to network.

- Networking etiquette at an event.

- How to follow up after a networking event.

- The follow up note. – Specific tips on making the follow up note a tool to further relationships.

- Common networking etiquette faux pas and how to avoid them.

Get more details and register.  And please subscribe to the blog and visit us at Ambition Hong Kong to keep on top of the latest job news and marketing events for professionals in Hong Kong.

The “Big Four” firms are experiencing significant growth in the APAC region  as emerging markets continue to increase their demand for financial and professionals services.

According to The Big 4 Blog , China’s growth is promising:

“Here is a quick synopsis on how Asia Pacific countries are fairing:

China

And last but not least, the powerhouse economy of China expects double digit growth in 2010 with a slight slow down in 2011.

Again according to the July 2010 (IMF World Economic Outlook, “In China, given the strong rebound in exports and resilient domestic demand so far this year, the economy is now forecast to grow by 10.5% in 2010, before slowing to about 9.5% in 2011, when further measures are taken to slow credit growth and maintain financial stability.”

With such positive buzz and optimistic forecasts for countries, which have generally escaped the recession which roiled the developed world, we would not be surprised if Asia Pacific turns out another great performance for all the Big Four firms.”

Read the full report from Big 4

This is more great news for professionals in accounting and financial services who are also looking to experience the adventure of kick starting their careers by taking an engagement in China, Hong Kong and other Asian markets.  For more information about recruitment in the APAC region, please visit us at Ambition Hong Kong.

As we’ve mentioned in recent posts, recruitment in Hong Kong (and Asia in general) is still on the rebound and we get scores of requests from firms who are looking for talented professionals to fill key roles.  So, as ever, this week we’re featuring some of our latest, most attractive job opportunities. Below are just a couple examples of the kind of opportunities waiting for both expat and local job seekers:

1. Derivatives Product Control Manager (Supervisory Role)

Our client is a reputable and rapidly growing international bank committed to growth in Asia. To bring their business to greater heights, they are looking for an experienced Product Control Manager to lead the Equity Derivatives team.

This is more a supervisory role. You will be responsible for reviewing the completion of daily P&L and the month-end process performed by subordinates. You are expected to lead and coach the teammates to resolve complicated issues and build a strong business partnership with the front office such as traders. In addition, you will lead and drive project initiatives. Product coverage of this role is Structured Equity Derivatives. This role is also open to candidates who have strong derivatives experience but not necessarily from Equities.

To qualify, individuals must possess:

• A university degree in business or mathematical discipline
• Qualification in CFA or/and FRM is preferred
• Minimum of 5 years experience in Product Control or Middle Office function
• Experience in derivatives products
• Strong analytical skills and system skills (Excel, basic VBA, modelling, etc)
• Excellent interpersonal and communication skills
• Fluency in English and Cantonese

2. Staff Accountant – Leading Global Private Equity Firm

Our client is a leading Private Equity Fund house with extensive operations in Asia Pacific. Currently they are experiencing accelerated growth in the business and require a talented Staff Accountant to support the finance team.

Reporting to the Asia Controller, your primary focus will be to support the accounts payable function for the Asia Pacific region. Other duties involve bank and balance sheet reconciliation, performing accounting entries, producing financial statements and analysis with supporting schedules for period closing. In addition, you will be performing cost allocation, monitoring daily cash flow, performing cost allocation on professionals expenses and reviewing management accounts of overseas offices. You will also be expected to perform ad hoc projects and support the ERP system rollout. This is an excellent opportunity for talented candidates to enter one of the worlds foremost Private Equity Houses which is committed to growing and retaining its talent through developing their exposure within the business.

To qualify individuals must possess:

• Accounting or Business Degree
• Minimum 3 years of experience in accounts payable and / or financial accounting from a financial institution or MNC
• Familiarity with financial services industry is a plus
• US GAAP and IFRS experience is highly advantageous
• Good initiative, ability to work independently and willing to work under pressure
• Excellent communication and presentation skills in English, Mandarin skills will be highly advantageous

To find out more about these jobs and to search for other openings, please visit our job search page at Ambition Hong Kong.

On September 2-3, 2010, Hong Kong will be the site of The Integrated Marketing Communications Conference, which promises to help marketers develop effective applicable strategies for conveying their messages to their target consumers.

The advent of social media has signaled a fundamental shift in how marketers communicate with their target audience. The kind of content and message control that companies have come to relay on is no longer possible and now consumers can often control how your brand is perceived. One of the key difficulties for marketers to overcome is the seemingly endless array of platforms on which consumers can voice their opinions and from which companies can try to effectively communicate their message.

The conference promises to provide a wealth of information for marketing, sales and branding professionals:

“Through a showcase of best practices from and of global brands including HP, InterContinental, KFC, LG, Unilever, Nike, DBS, FairPrice, Volvo, Bank of Philippines, this 2-day conference will equip marketers with strategies and insights to funnel core messages with conviction and consistency. We will uncover Asia’s new IMC dynamics, hear strategies that evoke cohesive emotional responses and maximise impact via multiple touch points, in today’s digital age. Find out how you can capitalise on social media and integrate it seamlessly with offline channels to engage consumers and combat message dissonance. Grab this opportunity to acquire insights through best practices that will propel your brand up and above the rest!”

The conference is essential for “Vice Presidents, Directors, Heads and Professionals in charge of Strategic Marketing, Marketing Communications, Branding, Advertising & Promotions, Corporate Marketing, Business Development & Sales, and Media Management” and anyone else who needs to get a handle on how to effectively market on the new playing field.

You can get more info and register at the conference web site.

And be sure to subscribe and visit us at Ambition to keep up to date on upcoming events in Hong Kong.

When you’re working with a recruitment firm to assist in your job search, one of the things you may come to appreciate is the feedback that you’ll get on how to improve your resume or CV.  Coming from an experienced and reputable recruiter, this advice is almost always spot on…except when it isn’t.  By this I mean that a recruiter’s job is to cast wide a net for you, while still maintaining a focus on finding the right job for you.  A large part of this process is minimizing risk by focusing on work experience that is proven to be of interest to employers.  However, once in a while this may come at the cost of excluding something from your CV that might be the key to making you stand out from your competitors who probably have very similar academic and employment credentials.

“Do you have an example?” you ask.  Of course!

Many, many years ago, as a fresh grad out of a prestigious American college, I planned to do what many similarly situated grads do, spend a couple of years doing mindless work for long hours at a New York law firm.  Despite the terrible hours and generally unchallenging nature of the work, the competition for these jobs is fierce as they are the best way for a grad with few discernable job skills to make a LOT of money to pay off college loans or help pay for graduate school, in my case law school.

Needless to say, I submitted my resume to a lot of staffing agencies.  During the process, I was universally told by the well-meaning people at these agencies to remove some  seemingly irrelevant work experience.

During my first year in college, I worked on what may be the best job I ever had, driving a seaweed harvester.  While this was a fun job, most employment agents felt that it was not particularly relevant or recent enough to be of interest to employers.  I, on the other hand, had seen how people reacted when I mentioned this job, usually with a mix of amazement that it existed and jealousy that I drove around in the sun on a lake all summer.  I also knew that my grades were likely not nearly as impressive as most of my competition and that taking a calculated risk to set myself apart was probably necessary.  So, over the objections of my recruiter, it stayed on my CV.

I soon got an offer of an interview with huge firm that is generally always in the conversation when debating the most powerful and respected law firms in the world.  After going through the preliminary meetings and paper work, I met with two young associates.  We engaged in a few minutes of small talk and general discussion about my school experience and why I wanted to work at their firm.  Then, one of them noticed the aforementioned job.  He had grown up in a town similar to mine and had seen the harvesters and had always wanted that job.  For the rest of the “interview”, the three of us talked about nothing but that job and all of favorite high school, college jobs and dream jobs.  Unsurprisingly, none of these involved working in the legal field.  Nonetheless, my contact at the staffing agency called me the next, clearly surprised, and told me that I had been extended an offer to start the next week.  Apparently I had managed to skip at least one more round of interviews thanks to my connection with my interviewers.

Was I lucky?  Certainly.  Does it help that I generally perform better than many of my peers in interviews?  So I’m told.  Was it wrong for the recruiter to try and steer me away from keeping the old job on my CV?  Certainly not.  Recruiters know the ins and outs of firm hiring processes better than you do.  But no one, not your recruiter, not your friends and not your family, knows your particular circumstances and past experiences better than you do.  So, you should take their guidance, since working with a recruiter is a partnership, but ultimately you have to remember that it’s your job search and resume and the final call is yours.  If you have a particular skill or interest that is truly unique or which sheds some light on your character or personality, go ahead and highlight it.  It just may be the thing that tips the scales in your favor.

For more career management tips and to learn how Hong Kong’s best recruitment company can help you in your job search, please visit Ambition Hong Kong.

As the job market and overall economy in Hong Kong improves, we have been receiving a growing number of requests to search for candidates recently. Each week, we will continue to feature some of our latest, most attractive job opportunities. Below are some of the newest positions for which our clients are recruiting:

1. Quality Assurance Manager

With offices in Europe and Asia, our client offers strategic marketing solutions to diversified retailers across both regions. They are committed to delivering top quality services and products to their clients. With ongoing expansion plans a new opportunity exists for talented individual with proven, relevant experience to join the team.

Based in Hong Kong and reporting to the Senior Manager, your prime responsibility will be to develop the testing strategy and standard for the full range of household and premium merchandise produced by the business’ manufacturing partners, for use both in Europe and Asia.

As the Quality Assurance Manager, you will be working closely with the head office to define product specifications and ensure all product testing and results consistently meet client’s quality, international safety and legal standards. At the execution level, you will conduct quality testing from sample development through to shipment delivery. This is a stand alone role and you will need to be resourceful and capable of being a key point of consultation for all quality issues.

To qualify, individuals must possess:

• Min of 6 years’ experience from a manufacturing or retailing environment
• Experience with international quality standards and legislation issues
• Practical knowledge of production and product testing
• Excellent communication skills in English and Cantonese, Mandarin is a plus
• Team player spirit, flexible and open minded
• University degree in Engineering or equivalent education

2. VP Equity Derivative Market Risk

Our client is leading European Wholesale Bank with a solid expansion plan in Asia. As part of new initiatives to develop and expand the Equity Derivatives business in Hong Kong, a newly created position has arisen for an experience Market Risk Manager to join the team in Hong Kong.

Acting as a deputy to the Head of Equity Derivative Market Risk, you will support the global equity derivatives business on market risk management and interact with the trading team and regional market risk team. You will review and analyse the equity trading book positions, highlighting significant outright and embedded risks. You will perform backtesting and VaR data analysis and investigate breaches. Working with the trading desk on understanding the risks and trading strategies, you will review new products and evaluate risk capture, monitoring and valuation. You will compute monthly provisions and familiarise with local and FSA regulatory capital requirements. In addition, you will implement new risk engine, perform UAT, implement value at risk on new risk engine and to write up backtesting P&L requirements. You will also be involved in the setup of daily risk sensitivities for risk limit monitoring, setup and run stress testing and spot-vol scenario matrix.

To qualify, individuals must possess:

• A university degree preferably with a quantitative focus
• Around 5 to 8 years of related experience in equity derivative and exotic products with at least 3 years in a market risk function
• Strong understanding of risk greeks and value at risk methodologies as well as pricing models including limitations and weaknesses
• Excellent communication skills with fluency in English

To find out more about these jobs and to search for other openings, please visit our job search page at Ambition Hong Kong.