Spotlight: The Accountancy Sector

Having specialised in accountancy recruitment for over 17 years, our very own Kieran McKeown discusses career opportunities in the accountancy sector across a variety of industries for 2016.

Accountancy Practice: The Phoenix Rising From The Flames

While the recession had a major negative impact on jobs across all industries and sectors in Ireland, the accountancy practice sector was hit hard with a significant number of redundancies taking place nationwide. However, in the past three years this trend has been reversed and we are seeing an increased demand from all sizes of practices for Accountants to re-enter this sector. In particular I have noticed a demand for Auditors and those with experience in accounts preparation and taxation, while global practices are actively seeking highly experienced consultants. This sector offers the opportunity to become a specialist and should be of interest for those looking to become a recognized subject matter expert within their field.

Pharma/Medical Devices: Industry Experience Will Give Candidates a Significant Edge

From my experience employers within the pharmaceutical and medical devices industries are continuing to look for accountants who already have experience of working within these industries. This is due to the fact many companies within both industries share similar Enterprise Resource Planning (ERP) and accounts systems, meaning those with industry experience can bring a valuable transferrable skill to the table.

In terms of jobs themselves, there is an ongoing demand for both management and financial accountants and we are seeing a considerable shortage of cost accountants and financial planning analysts.

Food: A Vibrant Industry With SMEs On The Rise

Working in the food industry represents an opportunity for accountants to either work with leading global organisations or with a plethora of small to medium sized companies that operate in food processing and manufacturing. Working in a SME offers accountants the chance to work very closely with all business units within the organisation. Many companies are looking for a Company Accountant who would be involved in all accounting activities, strategic planning and even IT Support Management and in many cases getting involved in HR Management.

From the larger food processing and manufacturing organisations, we are seeing a demand for Commercial Accountants, Internal Auditors, Financial/Management Accountants and those with financial analysis and taxation experience. Due to the vibrancy of the industry at the moment there are a number of opportunities available that should satisfy the needs of any ambitious accountant.

Traditional Manufacturing: Cost Control is a Major Focus

The traditional manufacturing sector is quite complex and as a result it can be difficult to identify what type of accountants that companies within the sector are seeking. Unfortunately many traditional manufacturing organisations are currently experiencing stagnant growth and as a result these companies are focusing on cost reduction and cost control. Therefore Cost Accountants are in high demand at present. One area of manufacturing that is growing at the moment is the plastics industry, which would offer opportunities across the board.

Shared Service Centres

This is another industry that is experiencing great growth, with over 40 shared service centres having already been established by large MNCs nationwide. Working in a shared service centre gives accountancy professionals the opportunity to work in business units covering the EMEA region and possibly beyond. I would definitely recommend pursuing an accountancy career within shared service centres for those interested in learning how accountancy methods are applied in different countries and markets. As a sector it also represents the possibility of working abroad as MNCs can often move or set up new shared centres in different countries.

Financial Services: FinTech Represents the Next Big Opportunity

At the moment Investment Banking, Asset Servicing and Asset Management are the key growth opportunities within the Financial Services sector. Financial Services organisations are on the lookout for Fund Accountants and those with experience in Transfer Agency, Trustee Management and Risk & Compliance. Those with skills in risk, regulatory & compliance and project & change management continue to be in high demand.

Another area that represents tremendous career opportunities is the rapidly growing Fintech sector. Fintech is financial technology and with global financial services companies set to spend over half a trillion dollars in IT by 2018, the Irish government plans to increase the number of jobs within the sector from 5,000 to 10,000 by 2020. Fintech is moving at an energetic pace with demand for Project Managers, Software Developers, QA Analysts and Testers along with more traditional financial services roles including jobs in compliance, legal and risk. For more information on the Fintech industry, check out my colleague Gillian’s recent blog post on opportunities within the sector.

About

Having founded Matrix Recruitment Group in 1998, Kieran McKeown not only acts as Managing Director but also actively recruits within our Accountancy Recruitment team, specialising in roles in the Dublin region. Kieran is a CIMA Qualified Accountant with over 20 years’ industry experience having worked in a number of accounting roles with companies such as Bausch & Lomb, MSD, General Electric, Unidare and Loctite (Henkel). If you are interested in discussing a career move in Accountancy or need assistance with the recruitment of a role yourself, please give Kieran a call on 051 353825 or connect on LinkedIn https://ie.linkedin.com/in/kieranmckeown