Business Analysts - What type of experience do you need in 2019?
As we move through Q1 of 2019 we are continuing to see demand for high calibre Business Analysts. This is however more prevalent in certain domains / areas, so I thought it would be useful to share what experience is currently in the highest demand across the BA world.
Due to a number of demergers currently happening across the market and the ongoing Royal Commision impact, there is a spike in demand for BA’s with experience in Wealth Management.
You may ask why the specialist domain knowledge is so important as in theory any BA should be able to slot into any BA role, right?
This is true sometimes, however, the reason for the need here is so that people come with an understanding of the products involved and what the business is responsible for. Dealing with individuals’ wealth and investments along with the planners attached to it can be a tricky business!
Risk -Regulatory - Compliance - Remediation
Due to the on-going fall out of the Royal Commission there is continual demand within the Risk / Regulatory / Compliance space.
There are a number of large projects already underway with more to kick off.
All this means if you enjoy working in the Reg space, then you should effectively be employed for the foreseeable future!
Within Financial Services and in line with the increase in work within the Risk & Reg space, we are seeing ongoing remediation work.
Tech & Data
The ongoing work mentioned above, is also having an impact on the technical side as systems need to be migrated, integrated and/or updated.
This means there has been a demand for BAs with data, migrations and integration experience.
Again, we are predicting this will continue for the foreseeable future due to the enormity of what needs to be achieved.
Away from Risk & Reg we are still seeing some financial organisations wanting to stay competitive and increase their market share.
This is particularly prevalent in the retail and small business space where there is a continual demand for BA’s with a lending background. This covers most product types such as home or business loans and credit cards.
Process Improvement & Continuous Improvement
More prevalent in C&I, the activity in Transformation is more around streamlining processes, automations and business improvement.
Through this there is a valuable need for Senior Process BAs, Continuous Improvement and Lean Six Sigma BAs.
Hybridness in regards to project experience and role definition is also key, with most C&I companies being flexible with industry experience and transferable skills.
In short, the more project exposure you have, the higher value you hold in the market.
If you are an experienced Business Analyst in the Sydney market who is looking for their next challenge, then the specialist BA team at MMK are definitely here to help!