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2018 Financial Services Operations Salary Guide

Financial Services Operations Salary Guide

Written by Stella Tang
Jan 22, 2018
Submitted by Stella Tang on Mon, 01/22/2018 - 11:04

The 2018 Hong Kong financial services operations salary guide provides expected salary ranges and contract rates for FS operations professionals from analyst to MD.

Contents:  Financial Services Operations Salaries | Financial Services Operations Contract Rates
Commentary on Financial Services Operations Roles and Remuneration in Hong Kong for 2018

Financial Services Operations Salaries

(HKD per month)

Role Analyst Associate / AVP VP Executive Director/
Director
Managing Director
Trade Support 25k - 40k 40k - 75k 75k - 115k 120k - 150k 165k +
Client Services 25k - 40k 40k - 75k 75k - 100k 110k - 125k 125k +
Settlements & Clearing 18k - 28k 30k - 55k 55k - 75k 80k - 100k 108k +
Documentation 20k - 30k 30k - 55k 55k - 80k 70k - 80k 108k +
Business Analyst / Projects 30k - 40k 45k - 75k 75k - 100k 110k - 130k 150k +
Client Onboarding 25k - 40k 40k - 75k 75k - 115k 120k - 150k 125k +
Loans Administration 20k - 25k 25k - 35k 40k - 60k 60k - 75k 83k +
Product Control /
Reconciliations
25k - 35k 40k - 65k 70k - 90k 100k - 120k 108k +
Asset Servicing 20k - 30k 35k - 50k 55k - 75k 75k - 100k 108kl+
Cash Management 20k - 30k 35k - 50k 55k - 70k 75k - 100k 108k+

Financial Services Operations Contract Rates (CONTRACT)

(HKD per month)

Role Analyst Associate / AVP VP Director Senior Director
Trade Support 18k - 35k 35k - 60k 60k - 80k 80k - 110k 110k+
Client Services 18k - 35k 35k - 60k 60k - 80k 80k - 110k 110k+
Settlements & Clearing 15k - 30k 30k - 55k 55k - 70k 70k - 100k 100k+
Documentation 15k - 30k 30k - 55k 55k - 70k 70k - 100k 100k+
Business Analyst / Projects 20k - 35k 35k - 55k 55k - 80k 80k - 110k 110k+
Client Onboarding 15k - 35k 35k - 60k 60k - 80k 80k - 110k 110k+
Loans Administration 15k - 30k 30k - 55k 55k - 70k 70k - 100k 100k+
Product Control / Reconciliations 20k - 35k 35k - 60k 60k - 80k 80k - 110k 110k+
Asset Servicing 15k - 30k 30k - 55k 55k - 70k 70k - 100k 100k+
Cash Management 15k - 30k 30k - 55k 55k - 70k 70k - 100k 100k+

Commentary on Financial Services Operations Roles and Remuneration in Hong Kong for 2018

General sentiment for 2017 picked up significantly in the second and third quarters with a greater volume of activity compared to the same period in 2016.  This is likely to be due to better conditions globally and in Hong Kong. The US election result has given rise to an optimistic view for the year which is driving stronger confidence in capital markets and therefore approvals for headcount across various disciplines. A greater political certainty following the appointment of Hong Kong’s new Chief Executive has created a more positive market than in the previous two years.  

While outsourcing trends continue within financial operations back-office, we are seeing ongoing increased demand within mid-office functions such as business control, client on-boarding and KYC, with buoyant roles across sectors and particularly within investment banks, transaction banking and private banks. 

Within the business control function, given the continued tight regulatory environment of the financial sector, we are experiencing a rise in the demand of ‘first line of defence’ specialists, for example in business control and governance, transaction assurance and trade monitoring. We are also seeing a rising number of candidates interested in exploring this field.

There is a lot of buzz around process re-engineering and operational transformation through technological advances, driving change management. New processes and automation are being invested in to improve operational efficiency. We are seeing an emerging trend in project management and change management hires responsible for operational process re-engineering, both on a permanent and contracting basis.

Chinese and Asian banks have been consistently active in supplying requisitions to the market in the last few years, including increasing headcounts for new hires to support expansions. European and US banks remain focused on replacement hires and are open to overseas candidates. Salary increments for moves remain conservative across the board at 15-18%.

 
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