Hays, the global leader in workforce solutions and specialist recruitment investigated the latest trends driving accountancy and finance professionals today. 

The 2024 Hays Asia Salary Guide which surveyed 8,525 skilled professionals and 3,089 employers throughout Asia revealed that 35% of accountancy and finance professionals were seeking a change of organisation while remaining within the same role or industry. 31% of respondents sought a promotion or a change of role within their current company, while 43% were open to new opportunities.

Natasha Ishak, Regional Director at Hays Malaysia, commented: “Our research into employee motivations showed that a desire to seek new challenges was the main reason professionals were looking for new opportunities.

With the availability of roles and qualified talent currently balanced within the Malaysian market, candidates have the opportunity to grow beyond their current roles. Be sure to stay abreast of current trends affecting your industries, as they may provide indicators as to where efforts for improvement may best bear fruit, especially when it comes to the acquisition of new skills.” 

Key Insights on Accountancy and Finance in 2024: 

• Managing data today is a crucial skill. As the need for accurate analysis grows more pertinent, more candidates are expected to be familiar with Enterprise Resource Planning (ERP) software.
• Workplace transformations brought about by the introduction of new technology will require talented change managers to ensure smooth transitions as businesses look to move away from legacy processes.
• Foreign language roles are in high demand, especially for Thai and Vietnamese speakers capable of facilitating communications between stakeholders across language barriers. 

2024’s Most In-Demand Accountancy and Finance Roles in Malaysia

• Financial Controller

With the economy returning to normal after the pandemic, businesses are more optimistic in hiring senior finance leaders to assist in growing the business, shifting the mindset from survival mode to thriving in the industry. As a senior leader in finance teams, this role oversees the financial activities and operations of an organisation.

• Shared Services Centre Transformation Lead 

This role spearheads initiatives to enhance and optimise shared service operations within an organisation. Responsibilities typically include analysing existing Shared Service Centre (SSC) processes, identifying opportunities for improvement and standardization, and implementing changes to streamline operations and increase efficiency.

• Foreign Language speakers 

Due to cost, more SSC are being setup in Malaysia to support other regions, with demands for foreign language speakers with combined technical skill requirements. Examples of roles include Engineers fluent in Japanese, Internal Control fluent in Japanese and Supply Chain Executives fluent in Korean.

• Valuation Manager 

Talent with Mergers & Acquisition experience are in demand as more organisations are buying and selling their businesses. Especially after the pandemic, companies are picking up from where they left.  

• IPO Consultant 

Finance professionals with IPO knowledge are sought after due to companies aiming to be listed on the stock exchange. This role provides strategic guidance and advisory services to companies preparing to go public, including financial planning, regulatory compliance, legal requirements, and investor relations.

• Financial Planning & Analysis Manager 

As companies focus on strategy and growth, the role of an FP&A Manager has been supercharged to become a support function for businesses looking beyond basic finance functions to act as a Finance Business Partner.

• Treasury Manager

Increase in demand for Treasury Managers, particularly Regional Treasury Managers in Malaysia are due to the widening of function coverage in SSC finance teams and expanding presence of local MNCs. This role manages financial assets, liabilities, and liquidity of an organisation.

• Internal Auditor 

The main backbone of a business operation. Their presence helps to ensure the quality and clarity of the financial reporting as well as effective operation. These skilled professionals can navigate complexities, ensuring the quality and clarity of financial reporting as well as effective operations.

• Financial Analyst  

With business focusing more on the commercial and strategy aspects of finance, finance leaders are setting up FP&A divisions within their teams which contributes towards the growth of FP&A talent. This role analyses financial data, trends, and performance metrics to provide insights and recommendations to support decision-making within an organisation.

• Finance Manager

Finance Managers play a critical role in a finance team especially in being able to manage the day-to-day operations to ensure smooth functioning of a finance function within an organisation. This includes overseeing financial planning, analysis, and reporting, as well as evaluating investment opportunities and capital allocation decisions.

More details regarding accountancy and finance trends and associated in-demand jobs in Malaysia can be found in The Inside Story of Accountancy & Finance 2024. Download the Hays’ report here.

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