Hong Kong Career Blog

A wealth of job opportunities isn’t far away when you’re in the Asia Pacific region. In Hong Kong, we’ve got more job offerings and requests for qualified applicants this week.  Here are some of our latest, most attractive positions for which our clients are recruiting in Hong Kong:

1. Business Analyst — European MNC

Our client is a leading and well-respected broadcaster of news and lifestyle consumer programmes. An exciting and newly created position now exists for a dynamic Business Analyst to join the accounting & finance team.

Reporting to the Senior Finance & Administration Manager, you will focus on financial analysis for the Asia Pacific Regions business. Working closely with the regional operation and sales teams, you will identify and implement improvements to better the quality and efficiency of the business.You will also be required to work with the general ledger team on the groups consolidation.

To qualify, individuals must possess:

• A university degree and an internationally recognised accounting qualification
• A minimum of 5 years of management accounting experience
• Exposure gained from the media or broadcasting industry
• Energy, initiative and a willingness to take on responsibility
• Excellent English and fluency in Cantonese and Mandarin advantageous

2. Product Manager — Travel Retail

Our client is a niche but widely recognized skincare company. Relatively new in the region the brand continues to capture a loyal and developing pool of consumers. A new and exciting role has been created for a sales or marketing professional to join the team as Product Manager.

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

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

The Hong Kong Institute of Certified Public Accountants recently graduated a class of 1,888, a new record.  The candidates for full certification will have to complete three years of work before becoming fully qualified.  The job pool just a lot fuller, but as we have pointed out, there are a lot of jobs out there for accounting professionals in Hong Kong.

From the HKICPA statement:

“We’ve come a long way in building our programme. Our qualification is recognized as equal to some of the best institutes in the world and once our graduates become our members, the mainland is more accessible to them under CEPA”, says Winnie C.W. Cheung, chief executive & registrar of the Hong Kong Institute of CPAs.

…

“Good accountants are a prerequisite for the mainland’s economic growth and Hong Kong’s role as a financial centre”, says Wilson Fung, president of the Institute.  “They are trained to a sophisticated standard as as progress towards joining the world’s most prestigious accounting professionals.”

You can watch the statement’s accompanying video HERE

And do visit us at Ambition Hong Kong to get a head start on your competition in the job hunt!

An excellent point/counterpoint over at Adage, which discusses the obviously huge potential that Asia has as a target for marketing professionals yet also makes no bones about some interesting challenges:

“How many campaigns can you think of which have the potential to reach 384 million consumers? Every digital campaign in China has that potential. A recent campaign that tapped effectively into this market was the Experience New Zealand Right Now campaign, which rolled out in April 2010. Tourism New Zealand teamed up with filmmaker Lu Chuan and celebrity blogger Hung Huang to promote New Zealand to Chinese travelers. Capitalizing on the star power of these big names, Tourism New Zealand rolled out mini video travelogues showing great experiences these stars had in New Zealand. The content was shared on a range of media platforms including social-media sites like Kaixin.com, video-sharing sites like Tudou.com, blogs, online communities, and Tourism New Zealand’s Chinese-language website.”

And now the bad news…sort of

“In these respects, Asia is significantly different from mature markets like Western Europe or North America. In these markets, digital technology is often ahead of other regions, and the consumer engages with the online medium at a deeper level. Ideas that “wow” you and break through the clutter in a big way are more successful here. This could explain why European agencies like AMV BBDO and Jung von Matt outscore Asian agencies in sheer number of creative awards. Even in the Asia-Pacific region, the markets that win a disproportionate number of awards are Australia and New Zealand, both mature markets not very different from Western Europe and North America.”

Totally true, although not too surprising, and relative market development does pose a big challenge.  However, it seems that that challenge may also be a great opportunity for truly creative and in-tune marketing pros to make their mark.  Especially in markets where their audience might be more receptive to ideas that might not work as well in Western markets where the audiences can be more difficult to impress, even with the most interesting campaigns.

You can read the full Adage article here…

To see some of the great jobs we have for sales and marketing execs in Asia, please visit us at Ambition Hong Kong.

The job market in the West may be lean, but we are still getting 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. Finance Manager/Controller

Our client specialises in the provision of corporate advisory services and is one of the region’s largest client servicing organisations. As a result of significant growth in the region, the Hong Kong-based operation is now seeking a Financial Controller to lead their team. This role reports directly to the Managing Director.

A background in professional services is advantageous and you must possess exceptional client relationship management skills. Experience in the areas of strategic planning, hands-on financial accounting, budgets and forecasts, tax planning, would be highly desirable. For a driven self starter who can demonstrate a track record of analytical and leadership skills, this is an organisation which can offer exceptional long term career opportunities.

To qualify individuals must possess,

• An accounting qualification
• Strong business partnering skills
• A minimum of 10 years of experience in a professional services environment
• Superb people skills
• Commercially oriented with strong leadership abilities
• Excellent communication skills in English and Chinese
• Hyperion skills an advantage

2. Associate Product Controller / Global Investment Bank

Our client is a US-based Investment Bank with a strong global presence. As part of continued growth due to the groups success, a newly created opportunity has arisen for a Product Controller to join its Equity Derivatives team

Reporting to the Manager of the Product Control function, you will be responsible for a number of challenging tasks related to accuracy and integrity of the books and records, preparation of daily and monthly P&L reporting, ad hoc valuations, P&L reconciliation and provide support to Front Office for all trading accounting queries. You will also be responsible for making sure price testing and off market rate checking is done according to group standards. This is an excellent opportunity for a Product Controller to continue their career in a challenging and rewarding environment in one of the most prestigious investment banks in the world.

To qualify, individuals must possess:

• University degree, preferably in Accounting, Finance or Numerate Studies
• Knowledge in derivatives and structured products is a must.
• 3 to 5 years of Product Control experience, with Equity Derivatives exposure an advantage
• Investment banking experience a must
• Strong analytical, interpersonal and time management skills
• Excellent 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.

Two of the Big Four firms have recently announced some rather lofty recruitment and training goals for the coming years.  According to Accenture’s own website, the firm expects that “by 2015, Accenture it will equip 250,000 people around the world with the skills to get a job or build a business”.  And as to Deloitte, they have claimed that  they are going to hire an average of 50,000 people per year over the next five years.  Those are huge numbers, and a lot of that speculation is based on optimism about growth in emerging Asian markets.  However, there is plenty of skepticism over at the Big Four Blog:

“While we cannot really say whether Accenture will succeed in its goal of 250,000 jobs by 2015 (and how exactly this will be measured and tracked), the foundation of such an ambitious endeavor seems to be well thought out and in place. The three pillars outlined above should provide the impetus for Accenture, its people and its partners to realize their lofty vision – the commitment, progress and money certainly seem to be there.

Next, let’s analyze Deloitte. :Let’s start by saying that the details on the “50,000 by 2015” are quite sketchy. The Financial Times makes a brief mention about a statement that Deloitte made on Monday September 13, 2010 when it released its 2010 financial results that, “Deloitte… would hire an average of 50,000 workers a year during the next five years…”

There’s slightly more from the Guardian of the UK’s website, “The firm s existing workforce numbers 170,000, including 12,000 in Britain. Its planned hiring rate will raise this to 225,000 by 2015.”

There’s nothing we could find in the official Deloitte press release or from a special Deloitte statement or from the US papers or website on this. But be that as it may.

Doing the simple math leads to an incorrect conclusion in our opinion. If you simply multiply 50,000 by 5 to get 250,000 and then add that to Deloitte’s current employee level of 170,000, you end up with 420,000 employees in 2015. That’s an enormous number by any standards and even when you compare it to the almost 600,000 that work in all the Big Four accounting firms today.”

Probably an accurate assessment of the situation, but tone down the expectations by even a third and the outlook for new jobs with Accenture et. al.  look very good in the coming years.

To see some of the jobs we have for accounting professionals in emerging markets, please visit us at Ambition Hong Kong.

In a recent survey of nearly 1,900 finance professionals, Hong Kong placed third in ranking the world’s top finance hubs, finishing behind New York and London.

According to Channel News Asia:

“There remains no significant difference between London and New York (in the ratings). Respondents continue to believe that these centres work together for mutual benefit,” according to the twice-annual report produced by London-based think tank Z/Yen Group. “Hong Kong has joined London and New York as a genuinely global financial centre. Singapore may well join this trio soon.”

Singapore was placed fourth in the top 10 followed by Tokyo, Shanghai, Chicago, Zurich, Geneva and Sydney.

“The top four centres control a large proportion of financial transactions (over 70 percent of equity trading)…(and) are likely to remain powerful financial centres for the foreseeable future,” the report said.

Asia “continues to exhibit enhanced competitiveness” with Shanghai breaking into the top 10 and Seoul cracking the top 25, the report said.”

This bodes well for Hong Kong’s continued appeal as a location for foreign companies to not only do business, but to possibly relocate their full operation, as HSBC recently threatened to do.  However, a lot of companies are  keenly aware of the competition from Shanghai, which the Chinese Government surely would prefer as China’s dominant commerce center.

To view some of the latest jobs in the world’s number three finance center, please visit us at Ambition Hong Kong.

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.

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.

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.