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The changing face of FX hiring

The world of FX is changing in Japan: hiring for institutional FX roles is on a downward path, online could be on the way up.

Samuel Griffiths, associate director of financial services at Robert Walters Japan, says demand for FX professionals has remained quite patchy on the securities side of the business, largely due to the shifting of FX trading into regional hubs like Singapore.

“What demand we have seen is really for sales people, primarily with extensive experience of selling and working with electronic platforms. With that said, commercial banks have continued to show an interest in experienced candidates with FX sales experience on their side of the business,” says Griffiths.

Iwona Bancerek, a senior consultant at recruitment firm CDS, adds that she has seen a slight drop-off in demand for FX support teams on the bank side.

So what about the other end of the FX spectrum: mass market online trading? Things are looking rosier there.

Many foreign firms have entered the country over the past couple of years and are now competing for a market share, trying to lock the end-user into their business models through additional website futures, market commentary, strong call-center support and lower fees.

“Online FX platforms usually put a lot of resources into their online marketing departments and their IT teams, while compliance team members are also in demand to follow the regulatory changes and get the required licenses and so on,” says Bancerek.

But while there are job opportunities out there, the online platforms are having to dig a little deeper into their pockets than expected to fill them.

“This area is still undergoing changes from the regulatory perspective and is not that attractive to many candidates, so the companies need to pay some premium,” adds Bancerek.

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