Expat Jobs in Banking

Expat Jobs in Banking

Interested to find out about expat jobs in the Banking Sector?  The range of functions that banks require to fill is wide and not limited to banking specific skills.  There are openings for auditors, human resources and sales and legal professionals in many countries in Africa in both global and regional banking and finance organizations.

Investment banking can be lucrative and rewarding in emerging markets.  There are opportunities literally everywhere from Cape to Cairo in treasury, risk, merchant banking, corporate and trade finance. Anyone wanting to take advantage of these openings needs to do some research and become familiar with the different roles and the different locations where these jobs are offered. You also should familiarize yourself with the major global and regional players in each country. Then, you'll want to assess if you have the skills, aptitude, and work ethic to make emerging markets investment a career. There are websites you can visit to learn about emerging markets job opportunities and the complexities of investment banking.

Due to the expansion in the finance sector in Africa, business development and relationship management jobs are becoming more plentiful in many new markets, including Algeria and Gabon.  In addition there are additional similar openings available in the more established markets of Kenya and Nigeria.  Microfinance is a major growth area where aid and funding is allocated for development projects, particularly in agriculture and food production. 

As a result of the growth in banking within countries and across the region, there are opportunities for qualified people in all management and support functions.  All companies need leaders; aspiring managing and finance directors will find attractive vacancies which provide wider scope than working only within one country.  There is a need for Human Resources specialists, especially in recruitment, training and management development in the new growth markets.  If you are looking for an expat job in Banking or finance, click here.

Mining in Africa and beyond

Mining in Africa and beyond

The outlook for jobs in mining for 2011 and beyond is positive. Reports in the press recently support the industry view that global spending on mining will even surpass the levels that were enjoyed during the years before the financial crisis.  The consensus is that the economic recovery will be led by China and other fast growing emerging markets with mineral resources.

 “The boom in capital expenditures, which extends to the oil, natural gas and agribusinesses, comes amid sharply rising prices for commodities such as copper, iron ore, crude oil, sugar and wheat” reports Javier Blas in the Financial Times of December 14th 2010.   

He continues “Global mining expenditure is set to hit a record $115bn-$120bn next year, above the peak of $110bn set in 2008, according to a survey of senior industry executives and consultants.”  All this bodes well for the job market. In Australia, the hottest mining region, the government’s resources forecasting agency predicts expenditure to jump by 58 per cent year-on-year.

The growth opportunities will be visible where some of the leaders in global mining are active. Vale, Rio Tinto and Xstrata are expected to take advantage of the rise in demand and price of raw materials. This means new capital investments and staffing requirements. 

Tom Albanese, chief executive of Rio Tinto says, “There is a greater sense of optimism in the sector”. Companies that support the mining sector such as Joy Global, specialists in mining excavators, supports this view and Mike Sutherlin, chief executive adds that ““We are entering the earlier stages of another multiyear expansion of the industry”.

Morgan Stanley’s outlook for commodities in 2011 is also very positive.  They predict that most commodities should move higher and that more than 70% of the economic growth is expected to come from commodity-intensive emerging-market economies, including China, India and Latin America.  Morgan Stanley also says that gold and copper are among the commodities for which it is “most constructive” in 2011. Their view on the copper price is an average of US$7,900 a metric ton in 2011, compared to US$7,300 for 2010. This could be a boost for job opportunities in Africa.

The Expat Outlook for 2011 and Beyond

The Expat Outlook for 2011 and Beyond

The outlook for expats is very healthy in 2011 and beyond as companies look to establish themselves in Africa and other emerging markets.  The number of high-powered expats is set to increase as international companies are expecting to post many more executives abroad in the future, according to a new research report by the Economist Intelligence Unit.  The report, entitled “Up or Out : Next moves for the modern expatriate”  questioned 418 senior executives with responsibility for overseas offices.  Almost four out of ten, some 39% of companies plan to increase their expat staff over the next five years.   The report went on to say that more than half of expats are sent to a particular destination for a period of between two and five years but they note that there has been a rise in flexible working practices such as short term and commuter assignments.

Companies will be responding to the need to move beyond stagnating Western markets and expand into China, India and other major emerging markets.  Slightly concerning is that three in five expats believe that their corporate HQ does not sufficiently grasp the nature of the local business environment. One in three complains of excessive interference from headquarters. 

What is revealing is that executives are keen to be part of the global and mobile working trend. Four in five executives believe that an assignment in a major emerging market aids career progression.  Nearly three quarters of survey respondents believe that cultural sensitivity is the most important attribute that an expat needs.

But getting the right talent in the right place for the right length of time is a challenge. What is clear from the research is that there will be many more international expat assignments on offer in the next few years. 

The 2010 Expat Explorer Survey from HSBC Bank International also found that people are tending to move to BRIC countries (Brazil, Russia, India, China) and that they are faring well there economically.   “When you look at the life of an expat, there is a trade off between lifestyle, family and finance. It’s all about balancing out different things,’ said Lisa Wood, head of marketing for HSBC Bank International in Jersey.  So, the outlook for expats is encouraging.