Banking & Payments Jobs Market April 2023
In the present market, there is a strong demand for payment specialists with an odd distribution. Similar to the rest of mainland Europe, Malta has not experienced a significant increase in layoffs. However, some businesses in the cryptocurrency and iGaming industries had to close or reduce their staff. As a result, the market had instant access to qualified professionals, who were quickly hired at the start of the year.
While businesses could rely on this instant availability for junior profiles, the market for more senior professionals remained extremely competitive, and the evaluation of expertise is still the most important factor in those searches. Managerial jobs in Responsible Gaming and Risk were given special consideration because they demonstrated a growing interest in the ethical side of the industry. Here, the market is constantly looking for professionals and executives who can create and organise a team.
The rise in the hiring of Payments Managers with strong PSP management expertise was another intriguing trend, showing that the industry is still thriving despite some changes. Both clients who can negotiate better deals and candidates who will gain from a more commercial role without leaving the payments area will find this to be a very appealing location to be.
Payment service providers are getting more and more involved in the cryptocurrency world and providing diverse, all-inclusive payment options. The payments industry is stable and keeps expanding overall, depending on more conventional offerings when consumer confidence decreases, despite the ups and downs experienced by the pure cryptosphere.
With a constant need for skills in cross-boarding, compliance, and due diligence, banking positions are in high demand. While the front office positions must depend on the local market, particularly given the need for language skills, the back office positions frequently require the services of foreign professionals.
The rotation of professionals in various junior positions is an intriguing development in big banks. The primary purpose of this is to allow them to become familiar with the various specialities of the new professional so they can decide where to focus their career. Because of this, Malta is a fantastic location to launch your career because you’ll have a chance that is extremely uncommon in more developed markets.
The opening of the FS and banking towards hybrid models is the final interesting development to discuss. Due to operational and regulatory requirements, this industry was a little hesitant, but it has since become more adaptable in order to compete with cryptocurrency and iGaming.
For more information on the current Banking & Payments jobs market and the latest salary bands, please download our Salary Survey below.