Jobs may not be abundant in Accounting and Finance right now but several roles/skills are still difficult to find and those in such positions continue to be in high demand in the UAE.
According to a recruitment firm, Chief Financial Officers (CFOs), Regional Financial Directors, Financial Controllers and Management/Financial Accountants are the most in-demand positions in the country. The sector looks positive but companies are adopting a cautious stance when considering who and when to hire.
Firms are looking to fill specific gaps in their teams as well as to invest in new initiatives such as system implementation and business partnering.
As a result of this activity, the accounting and finance skills shortage is already concerning CFOs in the region, who report that it is increasingly difficult to find the right candidates. The vast majority (93% of a survey), CFOs say that they find it challenging to find skilled financial professionals today. The main reason for this challenge is the lack of niche, technical experts available in the market with commercial business skills.
Looking at the roles that are most difficult to fill, CFOs state that functional areas including accounting, financial and management control, business and financial analysis and audit present the toughest challenges.
Technology in the sector is also playing an important role and professionals with accounting software experience (Oracle and SAP) are high on the employers’ and recruiter’s list of jobs to fill.
CFOs predict that the areas that will attract the most investment, and that will therefore create the most new job opportunities, will be fraud detection and risk management (47%), data analytics (40%), and compliance and regulation (39%).
Skills and qualifications that employers are looking for include CA, ACCA, CMA and CIMA. Those with experience in accounting standards US GAAP (CPA), IFRS and SOX are also sought after.
Their UAE data for last month shows that online job demand is looking gloomy for finance and accounting professionals, with a growth of 2 per cent.