And just like that, we have wrapped up for 2018, what a busy year it has been for the Transformation team!
With a number of financial institutions selling or de-merging parts of their business, this has resulted in some of the largest programs of work to happen in the Sydney market for a number of years. The complexity of separating processes and technologies has been no mean feat and has seen these companies build teams into the hundreds to ensure this is done within the set time frames.
This has been good news for the Business Analysis team as there has been continual work throughout the year and has provided options outside of the regulatory space. The negative of these large programs and compliance projects is that there has been less spend on the more innovative pieces of work.
The regulatory space is still busy largely thanks to the Royal Commission, which is here to stay for the foreseeable future. It is having an ongoing impact in the financial services and insurance sectors, and there is speculation that this will continue into other domains moving forward.
Within the Commerce and Industry space we have seen a higher demand for FTC and permanent employees. The need for contractors will always be there but there is an ongoing preference for fixed term and/or permanent business analysts.
Businesses are increasing their demand for process improvement programs, with a particular interest across RPA domains. The blend of ‘technology vs process’ initiatives highlight the added need for “hybrid” candidates.
The change market had an interesting close to the year. Whilst regulatory programs of work are still hot on the agenda in Q4, there have been some cultural pieces of work which has been an attractive change. Fixed term or permanent roles have been harder to find people for with healthy day rates being offered in the market. Commerce and Industry clients have felt the backlash of the Royal Commission programs ramping up and have been left scrambling to find resources.
There has been an increase in communication manager opportunities with change experience in both C&I and financial services. The emphasis on change qualifications has continued to dwindle and has been replaced with a growing emphasis on experience - programs with aggressive deadlines requiring people who can literally hit the ground running.
Across financial services, the project delivery space had an increased focus towards divestments/ mergers & acquisitions as well as wealth and advice experienced delivery professionals.
We have seen a significant increase in the demand for project managers who can get into the detail and help scope out requirements, whilst coordinating the ever-increasing business analyst demand pool. These projects have grown out of the increasing pressure of the Royal Commission and ever-increasing regulatory focus. The market is very candidate short and the demand for expertise and capability is increasing, so speed to market and project pipeline planning has been essential in helping secure the right talent quickly.
Across our C&I clients we have a seen a strong demand for more technical project managers, with multiple opportunities across the cyber security and applications world. There has been a steady flow of roles on the PMO side as companies look to establish a PMO function in order to correctly govern the large amount of transformation they are undertaking. As with the business analyst space many of our C&I clients are tending to push hires more down the FTC or permanent route.
Another steady quarter in the process improvement world. Demand continues to be more across the 'hands on' level, with process analyst being the most in-demand role type.
As many companies still try to tackle automation, we see a continued need for strong process resources to make sure that processes are mapped correctly for automation.
Top roles in demand in IT & Business Transformation
- Wealth Management Business Analyst
- Change Manager
- Regulatory Project Manager