Technology

Every financial company whether large or small, national or international, depends on their IT systems. Whether it’s for monitoring to a nanosecond the value of equities being traded, to processing customer transactions, communicating with clients and colleagues, generating valuable data or securing sales, a company’s IT platform is probably the most vital component in today’s financial world. Both software and the architecture it sits on must be state of the art. In investments, you would play an intrinsic part in the redesign of global trading platforms to gather pricing information and movements that inform investment traders and fund managers. You might also be involved in upgrading software, testing enhancements fully before rolling them out across the business. Even the slightest malfunction in today’s fast-paced world could have serious implications, which is why IT systems must stay operational, secure and innovative. There is a vast choice of IT jobs in financial services, both in-house and consultancy side. As a technical architect you may specialise in a particular part of a system's framework (such as security), upgrading or redesigning a system. Or, you could be responsible for the entire structure, supervising a project team made up of architects, system analysts and developers.

Salary

Trainee level positions on graduate training schemes start at approximately £20,000 per annum. With the right experience, qualifications and skills you could progress to regional and area management roles and earn in excess of £100,000 per annum. This does not include potential bonuses and additional benefits. Salaries will vary considerably based on location and employer.

Agreeing technology plans with business managers, including analysing potential future needs, exploring ways to enhance the user experience and delivering a reliable IT service
Developing and enhancing user interfaces, getting incompatible platforms to work together, possibly merging old systems and software packages
Researching off-the shelf technology products and software or tailoring software to meet specific business needs
Scheduling and overseeing IT upgrades
Ensuring information is being kept safe and secure, by ensuring anti-virus software, firewalls and intruder detection systems are up to date and preventing outside parties infiltrating highly sensitive information
Testing and installing completely new technologies, measuring business improvements
Devising disaster recovery and business continuity plans
Ensuring technology systems comply with legal and industry regulations, organisational policies and professional codes

Innovative and creative thinkers, with good research skills
Broad knowledge of technology and different applications
Excellent leadership and people management skills
Problem solvers, decisive and able to take initiative
Effective planning and organisational skills
Methodical in managing processes and projects
Strong negotiation skills
Understanding of working to budgets and cost control
Good team work ethic
Ability to work under pressure and to deadlines
Commitment to stay informed of IT trends and developments
Flexibility

Specific knowledge required varies between job roles and the level of seniority. However, system developers and architects really benefit from having an understanding of web-based technologies and integrated development environments (IDEs), as well as programming languages – for instance Java/J2EE, C#, .NET), C++, SQL, Oracle and SAP business software applications. A new entrant will not always be required to have this knowledge. Employers usually provide training to acquire skills for:

Commercial awareness of the financial services sector and business environments they operate in
Knowledge of specific programming languages and software used in your company and how competitors are using these effectively within their sector
Research and development (R&D) activities taking place within the financial services sector

A mixture of technical ability and talent is required to meet the widespread needs within the financial services sector. Technology in financial services evolves rapidly and many of the entry roles are at graduate level. Employers will ask for degree subjects such as computer science, computer engineering, information systems management, business information systems, software development or mathematics. Some universities now offer computing and technology degrees and postgraduate qualifications relating specifically to financial services. Employers will generally ask for a 2:1 or higher.

People working in technology need a broad technical understanding coupled with product knowledge for the financial sector they work in. Training is often a combination of completing in-house and external software and IT programming language courses run by product suppliers. Qualifications range from introductory right up to postgraduate levels. This may be complemented by specific IT professional qualifications offered through:

The Institute for the Management of Information Systems (IMIS)

Some employers may require technology professionals to demonstrate their understanding of financial services and undertake specialist technical qualifications, such as:

Chartered Insurance Institute (CII) Certificate in IT for Insurance Professionals
Chartered Institute for Securities & Investment (CISI) IT in Investment Operations, available as a standalone unit or part of their Level 3 Investment Operations Certificate

All large financial companies have dedicated IT teams, including specialist teams involved in technology delivery, IT development, database management and e-commerce/web design, You could be employed directly by a financial company or by a firm of specialist IT consultants. Opportunities exist UK wide. Most central technology teams are based within head offices, although larger companies will also have substantial regional technology development resources. Northern Ireland is at the forefront of developing cutting edge financial technologies.

Technology

Salary

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