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Expat jobs with local banks

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Laws4
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Expat jobs with local banks

Post by Laws4 » Sat, 04 May 2019 5:13 pm

Hi there, I’m based in NZ and am applying for VP / SVP jobs with the main local banks DBS, UOB and OCBC. Can anyone share any insights on the likelihood of securing a role at this level with a local bank whilst based overseas? I have extensive experience within financial services. Also, what is the worklife like for an expat within a local bank? Is the culture a challenge and is there any discrimination or equal opportunity? Many thanks.

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PNGMK
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Re: Expat jobs with local banks

Post by PNGMK » Sat, 04 May 2019 7:37 pm

Almost zero chance. You need to transfer in via ANZ or similar. Also the banks here are no different to NZ or Oz and outsourcing as much as they can to India, Philippines etc.
I not lawyer/teacher/CPA.
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Laws4
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Re: Expat jobs with local banks

Post by Laws4 » Sun, 05 May 2019 3:42 am

Thanks PNGMK for your reply. Does this apply to all roles within the local banks or primarily core banking functions? I work in the program management / business transformation / software implementation space of financial services and some of the roles I’ve been looking at have been posted for a couple of months which may indicate they are finding it difficult to source suitable candidates. Thanks.

Laws4
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Re: Expat jobs with local banks

Post by Laws4 » Sun, 05 May 2019 5:00 am

Can I please add that I have a Bachelors Degree in Information Systems, 17 years experience within the Fortune 50 MNC,am Prince2 2017 certified, and all my roles over the past 15 years have been focused on the Asia Pacific region leading teams and implementing projects across markets including Japan, India, Malaysia, Philippines, Taiwan, Hong Kong and Singapore.
Hopefully this provides some context as to whether my search for a job with a local Singapore bank may be successful or not. Many thanks.

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PNGMK
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Re: Expat jobs with local banks

Post by PNGMK » Sun, 05 May 2019 4:41 pm

WHY would you search for a job with a local bank? There are just as many foreign banks here? I think you need to base yourself in Singapore (virtually if need be) to succeed tho in a job search.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

Laws4
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Re: Expat jobs with local banks

Post by Laws4 » Sun, 05 May 2019 4:46 pm

Many thanks PNGMK. I’m also looking at the international banks based in Singapore and have applied for a handful of roles.

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PNGMK
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Re: Expat jobs with local banks

Post by PNGMK » Sun, 05 May 2019 6:56 pm

You need to appear to be here. Borrow an address and somehow get a Singapore phone no.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

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Strong Eagle
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Re: Expat jobs with local banks

Post by Strong Eagle » Sun, 05 May 2019 8:48 pm

I judge it very difficult for foreigners to land a job in Singapore. You may wish to read my other posts on the subject.

viewtopic.php?f=33&t=129649&p=806401#p806401

Wong_Jnr
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Re: Expat jobs with local banks

Post by Wong_Jnr » Mon, 06 May 2019 11:11 am

With your skill sets you stand a better chance than most, however you just move to the top of the zero to nil chance pile.

Being here legally improves your chances, but that's a chicken and egg scenario.
The foot in the door to Singapore is a transfer, unless of course you have some rare and in demand skill set, which unfortunately you don't.

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Re: Expat jobs with local banks

Post by bro75 » Mon, 06 May 2019 2:42 pm

You will have to compete with candidates from India and the SEA countries. Your chance is greater if the position you are applying for requires a niche skill set.

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Re: Expat jobs with local banks

Post by Strong Eagle » Tue, 07 May 2019 12:26 am

Besides the fact that companies in Singapore generally only bring people in on EP's from their own companies, except perhaps when they have special talent needs, there is another reason that it will be very difficult to get a job.

Every company has a talent track. Move you in as SVP and it takes away a slot for an internal candidate to get promoted.

And you know that each company has its levels, starting at the bottom, associate, senior associate, manager, senior manager, director, senior director, VP, senior VP. And you know that if you want to be on the "track" to keep rising, you'd better make each level by a certain age. What? 46 and you still haven't made the director level? Say goodbye to your long term career... you're about to be shuffled off to BFE.

Where do you fit into this? You don't. Really... unless you're coming in at a senior level to turn things around (and I've seen more failures than successes when this has been tried), you're outside the track.

Laws4
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Re: Expat jobs with local banks

Post by Laws4 » Tue, 07 May 2019 1:44 am

Hi Eagle, many thanks for your comments. Whilst my chances seem slim at best, I’m not giving up yet! If anything, this feels like a good challenge. Could I please ask a couple of questions.
I come from an American financial services company where the structure is Analyst, Team Leader, Manager, Director, VP 1, VP 2, VP 3, Senior VP, Executive VP, President, CEO.
When I look at the responsibilities of roles within the local and international banks, a VP role in the bank is similar to a Manager in an American financial services company, and an SVP role is similar to a Director. I’ve seen an SVP role at BoA in Singapore which is almost identical to a Director role I’ve previously performed. Is this your understanding also on how to compare the structure within a Singapore local or international bank with a traditional American financial services company? Also, within a Singapore bank, are there structures where a Director and then Executive Director is higher than an SVP? It seems bank specific and the only way to understand the level of the role when compared to my previous employer is to review the actual responsibilities.
Secondly, how should I interpret a role that has been open for two months on LinkedIn? Either they’ve been unable to identify a suitable candidate, are not proactively hiring for the role, or are not managing their job listings which would seem unusual for a large corporate within in-house recruitment.
Lastly, there is mention of one opportunity being where there is an in demand skill set. In my experience, program management of business transformation fits this criteria. It requires around 15 years of diverse corporate experience, is often done poorly making companies wary of promoting internally to fill the role, and Is not a typical career path in the same way as many bank roles.
Many thanks for your inputs.

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Re: Expat jobs with local banks

Post by Wong_Jnr » Tue, 07 May 2019 9:33 am

Laws4 wrote: how should I interpret a role that has been open for two months on LinkedIn? Either they’ve been unable to identify a suitable candidate, are not proactively hiring for the role, or are not managing their job listings which would seem unusual for a large corporate within in-house recruitment.
All of the above!
...and I'll add to the fact that they probably can't fill it as they're at their quota for foreigners.
As mentioned previously, all the banks are desperately trying to offshore as much as they can.
Laws4 wrote: Lastly, there is mention of one opportunity being where there is an in demand skill set. In my experience, program management of business transformation fits this criteria.
:lol: :lol: :lol: :lol: :lol:
Sorry, but I can't help it, I think every back office IT professional here describes themselves as such. Literally everyone I know who works in IT at a bank describe themselves as such.

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