August 12, 2020 FinTech Jobs Explained - by AES Global, Tech Recruitment Agency
By Tom Wilde
The face of finance has evolved and FinTech jobs now range from protecting your organisation from cyber-threats to developing the software needed to manage your money.
The fast-emerging FinTech space, where finance meets technology, has created an exciting new sphere in the FinTech jobs market. A tech recruitment agency now has a broader spectrum of tech professionals to recruit for the finance sector. FinTech is defined as the evolving intersection of technology and financial services according to Business Student. Innovative software, processes and systems need to be developed continuously to keep up with technology and trends. This is naturally the job of an IT professional, however, not all tech junkies understand finance, and this is where there is a fantastic opportunity for people in the finance industry to upskill, get tech-savvy and pave new roads in the financial sector. You now find many similar careers in information technology and FinTech. These FinTech jobs will require knowledge, understanding and or experience in both finance and IT. Job roles like apps developer, financial analyst, product manager, compliance expert, blockchain developer and cyber security analyst are a few of the FinTech jobs currently on the market. The finance industry has been disrupted and business and people want better ways to manage and protect their assets. This creates a massive demand for skilled professionals in FinTech and opens up this arena on the job market to prime candidates at great pay rates. Not only are new technologies essential for banking institutions and businesses to protect their data and money but also to stay relevant. The user experience for any application and program has to be absolutely seamless and streamlined. People do not want to struggle to find where to go or click on when it comes to their money. UX/UI designers and developers play a huge role in constantly improving the user experiences of websites and mobile applications.
AES Global Recruitment, a tech recruitment agency, looks at FinTech jobs
Technical skills like programming languages, mathematical skills and quantitative abilities are required in the various FinTech occupations. These types of hard skills combined with soft skills and experience is what recruiters and employers will be looking for in combination with a character that complies with a company’s culture.
Here are a number of FinTech jobs that are currently disrupting the job market
#1 App Developer
Applications for mobile, banking and just about anything you can image are constantly evolving and upgrading as consumers demand better and more digital access to everything. The demand for mobile payment solutions and personal finance apps are increasing dramatically and this is driven by a tech-savvy, younger generation. App Developers are the keen minds behind the innovative software applications we use daily to navigate the digital space, buy products online, research information and do our banking.
Application Developer Responsibilities:
- Developing software solutions to meet customer needs.
- Creating and implementing the source code of new applications.
- Testing source code and debugging code.
- Evaluating existing applications and performing updates and modifications.
#2 Financial Analyst
A financial analyst sifts through and analyses data to determine what company processes, products and procedures are or are not working. This function is vital to identify where improvements can be made to upgrade and streamline the business. Junior analysts gather data, implement financial modelling, and maintain spreadsheets of the data. Senior analysts spend more time developing investment strategies and marketing ideas using the data gathered by the junior analysts. “A bachelor's degree in a math or finance-related major is helpful, but a masters in finance, a math-related field, or an MBA will also help get your foot in the door, as well as industry certifications such as a CFA charter,” according to Investopedia.
#3 Product Manager
As with any other business, financial institutions offer their customers products and services and need to remain a cut above the rest in an increasingly competitive financial world. As a core function of a Product Manager, you will be responsible for deciding what products to produce and software to be applied/used within your organisation. You will assist with research, development and design of these products as well as the marketing strategy. You will need excellent interpersonal and communication skills, strong project management capabilities, attention to detail, and be able to work well under pressure to excel in this role.
#4 Compliance Specialist
As the regulations in the financial industry increase, so does the need for compliance specialists. As a Compliance Specialist in the financial sector, you will be responsible for making sure that the organisation you are working for is fully compliant with all financial regulations as set out by the South African Reserve Bank (SARB) and that there are strict policies in place. With the finance world now more in the digital space than ever before, keeping abreast of regulations is crucial. Risk assessment, conflict management, implementation of compliance protocols and programs, and compliance training for employees will be some of the duties you will be performing in this job role.
#5 Blockchain Developer
According to Investopedia, Blockchain is at its most basic level, literally just a chain of blocks, but not in the traditional sense. The word “Block” refers to digital information and the word “Chain” is the public database this information is stored in. As a Blockchain Developer, you will develop and optimise blockchain protocols and craft the architecture of blockchain systems. Using Blockchain technology you will develop smart contracts and web apps.
There are two types of Blockchain Developers and put simply, here’s what they do:
- Core Blockchain Developers – Are responsible for the design, architecture, and security of blockchain systems.
- Blockchain Software Developers - Build decentralized applications or Dapps using blockchain technology.
#6 Cyber Security Analyst
One of the top reasons that cyber-crime, as with any crime, exists, is money. Cybercriminals are often after getting rich by stealing money online. As a financial Cyber Security Analyst, you will be responsible for planning and executing security measures to protect your organisation’s computer networks and systems from hackers, malware, and any cyber-related threats. You will be analysing and monitoring the networks for any breaches in security.
Key performance areas of a Cyber Security Analyst:
- Analytical ability.
- Administering Information Security Software and Controls.
- Analyzing Security System Logs, Security Tools, and Data.
- Communicating Up, Down, and Across All Levels of the Organization.
- Creating, Modifying, and Updating Intrusion Detection Systems (IDS)
It is the job of a tech recruitment agency to screen candidates and determine whether they are qualified for the positions they apply for. At AES Global Recruitment our recruiters are highly qualified and understand what it takes to do the job in the both the IT and FinTech industries. We help suitable candidates forward their careers and we make sure businesses hire the best candidates for the job. Contact us today to connect with the right people for your career needs.