Banks in Singapore and Hong Kong, facing skill shortages in several fast-growing functions, are becoming more open to taking on people who are seeking a career change and are not an exact match.
In the front office, private banks are hiring priority bankers and even investment bankers. Operational risk and compliance are also fertile grounds for career-change candidates in Asia, while people from “all over the place” are moving into internal audit. Click here for a list of other potential career changes in Asian banking.
However, most finance professionals in Asia make successful career changes within their current bank – moving to a new employer is more difficult. If you’re changing careers and changing companies your first task is to make major revisions to your CV, say recruiters in Asia. Here’s how to ensure your resume grabs the attention of recruiters and hiring managers who might otherwise see you as a risky hire.
Research (a lot) before you write
If you’re a career-change candidate, the need to research the new role beyond what you see on the job description is all the more important. Talk to your recruiter or any contacts you have at the new company before you even start working on your resume. “You have to fully understand what the role entails and skill sets it requires – only then can you write a CV that shows how you will be effective in the new job,” says Kyle Blockley, managing partner of recruiters KS Consulting in Singapore.
Purge your CV: only cite relevant skills
Candidates changing careers in Singapore and Kong Hong tend to clutter their CVs with too many skills Share on twitter and achievements in the hope that some of them will at least catch the recruiter’s eye. Take the opposite approach – remove superfluous skills from your CV and expand on those that are “genuinely transferrable” to the new role, says Jeremy Poh, a senior consultant at recruitment firm Taylor Root in Singapore. “Otherwise it might look like you haven’t put enough thought into the application process,” he adds.
Be creative with your key words
If your resume is loaded into a recruiter’s CV database, make sure to update it to include the key words used to describe your desired next role, advises Justin Shuen, head of the Beijing office at HR company Talent2. “Find creative ways to increase the job title or key words for your new job towards the top of your CV because search engines use algorithms to measure relevance. For example, if you want to become a project manager, add ‘ideal next position: project manager’ or add ‘acting project manager’ if you’ve ever done that.”
Spruce up your summary section
The summary section at the top of your CV is less constrained by the formatting and date requirements that restrict the rest of the document. So use this as an opportunity to completely rewrite your summary and focus it only on the skills and experience that are relevant to you making a career change.
Shout about your projects
Banks in Asia will only consider career-change candidates whose CVs are full of examples which demonstrate their flexibility to take on new tasks. “Significant achievements that show how you handled a major project or change are definitely useful in showing adaptability. Just saying you’re ‘adaptable’ is not enough,” says Ben Batten, country general manager of recruitment firm Volt in Singapore.
Expand upon your qualifications
“You can use a new qualification as proof of your motivation to move successfully into a new career. But any qualification needs to be explained and given context in your CV,” says Emmanuel White, regional director or recruitment agency Hudson in Singapore. “Make it obvious how the qualification relates to new role – for example, if units within the course are particularly relevant then include details about them,” adds Batten.
Don’t cite your salary
If you’re attempting to make a career change in the Asian banking sector, it’s advisable not to mention your current or desired salary – if you pay expectations are too high, the new bank could be put off from the outset. “You need to be ready to make some concessions – for example on salary, benefits and seniority – as the potential employer is already likely to favour other candidates with greater expertise in the field,” says White.
Don’t go on too long
Overly lengthy CVs are a common problem in Asia Share on twitter, where excessive job hopping can make even junior resumes run over the recommended two pages. For career-change candidates, the need to restrict your CV is especially important – hiring managers and recruiters have even less tolerance of resume waffle when you aren’t a perfect fit for the position, says Blockley from KS Consulting.
State your reasons in your cover letter
“While it’s crucial to cite your intent in seeking a career change on the actual CV – otherwise a hiring manager might question the relevance of the application – leave the actual reasons for the career change for the cover letter,” explains Poh from Taylor Root. “See the cover letter as the hook, while the CV is meant to be a succinct and punchy overview of your experience.”