Increasing job demand for brokers and BDMs

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Mortgage brokers, broker business development managers and consumer lending BDMs — particularly those with strong referral networks and broker relations — are in increasing demand, according to a recruitment agency.

According to the Hays Quarterly Report for January-March 2017, the current hotspots of recruitment activity in the banking sector include mortgage brokers and those working with the third-party channel.

The report, which is updated each quarter to reflect changing market conditions, provides an overview of trends in recruitment.

It found that the continued emphasis on risk, compliance and financial planning is fuelling jobs in the banking and finance industry.

Notably, the report revealed that more self-employed brokers are making the transition, or returning to, a role at a bank in response to increasing competition and unstable lending conditions.

Meanwhile, there has been an upsurge in employers looking for BDMs with strong third-party relations in response to the growing number of loans written through the third-party channel.

It reads: “Similarly, mortgage brokers are sought by brokerages. Again, given the competitive nature of the market, employers are willing to pay higher rates for candidates with referral networks.

“Broker business development managers are in demand too. An increased number of loans are coming through the third-party space. This has therefore seen demand rise for BDMs to help ensure brokers refer their deals.”

Noting the rise of fintech businesses, the Hays report states that more BDMs are needed for consumer lending in the tech space.

It states: “Over the last 12 months more fintech lenders have entered the market as challenger brands. This has created demand for BDMs with strong introducer networks across the broker channels as well as retailers and vendors who can offer finance to customers.”

However, the report noted that this year, relevant experience would not be enough to secure a job.

Nick Deligiannis, managing director of Hays in Australia and New Zealand, explained: “In compiling our list of skills in demand, one common trend was employers’ requests for candidates who can add extra value.

“That could be through previous experience in a related discipline, prior process improvements or efficiency gains, additional tickets or qualifications or advanced digital or systems skills, all of which allow a candidate to perform supplementary duties. Any candidate who offers additional value stands out.” 

[Related: Fintech goes head-to-head with traditional non-banks]

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