Insurance employment falls in first quarter

Citing the latest figures from the Australian Bureau of Statistics (ABS), Robert Half said there has been a decrease of 20,000 roles across the financial and insurance services sector between November 2015 and February 2016.

The figure is not surprising, the recruiter added, given the overall easing in employment growth in Australia for the start of 2016.

The drop also comes despite 58,000 jobs being created in the sector during the last two quarters of 2015, an increase of 13 per cent, thanks to a demand for financial and accounting professionals.

Commenting on the job figures, Robert Half director Andrew Morris said the second half of 2015 showed significant growth in the sector.

"Even with a decline of four per cent there continues to be a steady demand for finance and accounting professionals," Mr Morris said.

Mr Morris added that several factors underpin the need to build a strong finance and accounting team, including the convergence of accounting standards globally, an increasing compliance and reporting burden, and the ongoing digitisation of financial information.

"Companies are looking for finance professionals with well-developed technical skills, a proven track record, an outstanding business acumen and the ability to add value to the company's success," Mr Morris said.

"Moreover, organisations are seeking professionals with a specific expertise."

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].