2018 Financial Services Operations Salary Guide

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%.