Crypto roles now “easy” option for Singapore jobseekers

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Crypto roles now “easy” option for Singapore jobseekers

If you’re a technologist or banking professional in Singapore who wants to work in crypto, now may be a good time to make the move.

The growth of roles focused on crypto is forcing employers in the finance sector to become more flexible with their job requirements, according to in-house recruiters from large banks in Singapore and Hong Kong who attended a round table event organised by eFinancialCareers.

While cloud, data analysis, and cyber security skills have been in demand in Asia for a few years, large financial institutions are increasingly now hiring for niche blockchain-based jobs. But they’re finding it hard to source candidates who are an exact match for these positions.  

One round table delegate from a large bank in Singapore said he was recently asked to find a candidate to “monitor volatility in the crypto space”. “But if we go out in the market, there’s no other bank who will have such people. So I’m asking managers: Is this something we can train? Is there someone who’s doing it for other asset classes?”

Another Singapore-based round table attendee said blockchain experience was “very challenging” to find. “We’re being accommodating when hiring,” he added.

The trend of banks being flexible with crypto job vacancies looks set to continue, especially in Singapore, whose government is positioning the country as a global crypto hub. Crypto fintechs have proliferated over the past 18 months, partly thanks to the Payment Services Act, which was rolled out at the start of 2020 to spur the growth of the sector. But more crypto jobs are now emerging within mainstream banks, creating a talent crunch as banks compete for talent with the startups

Standard Chartered, for example, is building a digital-assets unit in the Republic as it launches new initiatives powered by blockchain. Stan Chart has made several recent hires into the team. DBS is also getting in on the act. On 1 October, DBS Vickers, the bank’s brokerage subsidiary, secured a licence from the Monetary Authority of Singapore to offer digital payment token services.

The allure of obtaining crypto experience is also leading people away from large banks in Singapore. Maik Lutze joined Stan Chart as its global head of design and user experience for corporate, commercial and institutional banking (CCIB) last December. Earlier this month, however, Lutze moved to EQONEX Group, a Singapore-headquartered digital assets financial services company, as head of customer experience and design.

Photo by roman raizen on Unsplash

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