Financial sector jobs have always been lucrative. Given the digital transformation of finance, employees should also keep pace with this disruption and be aware how to interact with people and money in a completely new way. In our today’s article, we’ll consider future (actually current) employment possibilities in the finance sphere.
- Green finance
Jumping on the green bandwagon is a favorable strategy for many businesses. The NYI Stern Center for Sustainable Business has found that in 58 % of their studies, there is a positive relationship between environmental, social and corporate governance and financial performance. Thus, green banking practices include eco-friendly investment policies with a 55% growth in sustainable finance to be expected by the end of 2021 as compared to 2020. A great example here is JPMorgan that announced its intention to provide $2.5 trillion for green initiatives tackling climate change. On the other hand, green finance can be accelerated by technologies adoption. Green banks are about online banking, paperless transactions as well as energy efficient technologies to run banking business. As public concern for climate change is on the rise, green-oriented finance is a promising job. However, green banking positions might require more efforts. “You have to write the framework, get second party approval… So, a green bond could take three weeks, whilst a normal bond could take a few days”, said a banker in a study by the University of Cambridge.
- Crypto careers
Crypto is a hot topic today. A number of cryptocurrencies available on the market in liaison with interest in trading cements a stable position of crypto in the finance sector. In April 2021, Bitcoin cost staggering $63,000. Businesses like New York Digital Investment Group LLC, NCR Corporation are cooperative with others in their sector to ensure a comprehensive crypto experience to end customers. In the light of this, crypto careers are a very exciting job offer. According to Crypto Recruit job placement platform, they “have not recruited anything less than $100,000. But typically, even a year ago you might find some of these solidity developers would have been looking for $100,000. Right now, they are probably looking for $180,000 to $200,000”. For your reference, a solidity developer is someone who takes advantage of the object-oriented solidity coding language to issue Ethereum-based contracts. And this is one of many crypto-driven job openings.
- Robotics management jobs
Robotics receives a lot of attention in the finance sector as robotic process automation (RPA) is said to wipe out one in five finance jobs by 2030. Nevertheless, this also paves a way to those who want to position themselves as robotics-related financial and business analysts and/or managers. While robotics may add value to the finance businesses and not let them get lost in repetitive and mundane tasks, new roles are created and those with a technology profile and expertise in AI, data security and science will have an advantage for employment with financial services providers.
- Big data career opportunities
Big data analysis in the finance sector is essential to determine the right investments and get better customer exposure. Finance data scientist and data engineers are wanted specialists to provide meaningful and sustainable advice to investment teams. This covers everything from risk and customer data management to fraud detection and algorithmic trading. Businesses are reported to have a shortage of data scientists as artificial intelligence is becoming a must-have for finance.
- Artificial Intelligence and machine learning sector
As digital banking solutions are on the peak of their popularity, artificial intelligence and machine learning adoption is skyrocketing in the fintech market. What is so transformative about these technologies is more effective customer management/retention and back-office functions. The global AI fintech market is expected to have a turnover of $22.5 billion by 2025. Those employees who will be able to bring AI-run use cases with a good return on investment for better understanding finance services providers the benefits of AI products will succeed.
Technologies have unlocked new employment opportunities in the finance sector. Since digitalization of financial services providers is more a new state of art than just a trend, incumbents with expertise and knowledge in IT will have a tangible advantage in job hunt.