Why Financial Technology?
- Booming field
- Significant demand
- Desirable payscale
FinTech refers to the aspects of the financial services industry that have been disrupted by technological innovation. FinTech has become an incredibly important and rapidly growing career path, as rapid advancements in technology have bolstered the ability for smaller companies to innovate and disrupt many traditional financial domains. Larger and traditional finance firms have been forced to compete and upgrade their own technologies, thereby creating technological demand and a need for skilled technical workers. Starting or advancing in a career in FinTech requires technical skill, as well as the ability to think analytically, critically, and creatively. Those who have interest working independently, freelance and consultant positions are also on the table. Overall, it’s a challenging and globally-impactful career path.
Important Note: FinTech is the implementation of technology within the financial domain, therefore career titles are similar to those in IT; data analyst or data and software engineer roles. Specifically seen as quantitative analysts, quantitative traders, or financial applications specialists. Bachelor’s degrees are generally required for most FinTech-related roles.
*Note: In FinTech, experience is the primary focus therefore there are no required certifications. The list above includes helpful certifications within the FinTech landscape. Most employers in FinTech require a bachelor’s degree as a minimum requirement and masters or doctoral degrees for Senior level roles; certifications are less important, although potentially valuable.
|CFA||Chartered Financial Analyst||Financial analyst roles and tasks.|
|CFP||Certified Financial Planner||Roles with finance planning and advising tasks.|
|CPA||Certified Public Accountant||Roles with financial planning or advising tasks.|
*Ultimately, your ability to land a specific role will come down to your experience and proficiency in these in-demand skills as well as your willingness to continue to learn. This list encompasses the FinTech field as a whole.
*List encompasses FinTech as a whole.
Transferable Skills and Qualities
- Business Intelligence
- Intellectually Curious
- Strong Written and Verbal Communication
- Strategic Thinker
- Desire to Learn
- Business Acumen
- Strong Communicator
Field Specific Skills
- Amazon Web Services (AWS)
- Algorithms, Statistics, and Modeling
- Financial Fundamentals
- Libraries and Tools
- Financial Programming
- Machine Learning Applications in Finance
- Project Management
- Python SQL
*Below is a list of potential roles in FinTech. Your ability to gain employment in many of these roles will be, in some part, dependent on prior background and previous experience, as well as your specific skills.
Business Intelligence Analyst
Complete all research, testing, design, and data reporting. Work with IT partners in support of creating and analyzing business intelligence (BI) needs and troubleshooting issues. Explore data to assess trends and patterns. Create data for comprehensive testing to ensure unity across the business. Communicate to teams the BI requirements and solutions and follow change control policies for deployment. Tags: BI Analyst, Data Analyst.
Previous Roles: N/A, Business/Data AnalystEngineer
Future Roles: BI Developer, Project Manager
Data Analyst (FinTech-Based)
Analyze and manipulate data through statistical techniques and quantitative methods to then provide recommendations for existing processes and enhancements for supporting business decisions. Collaborate to determine new technologies and deployment. Tags: Business Analyst.
Previous Roles: N/A, Business, Engineer
Future Roles: BI Developer, BI Analyst, Big Data Analyst, Consultant, Web/Fraud/Risk Analyst.
Assist with forecasting, budgeting and planning processes that includes data validation, setup/maintenance of reporting tools, tracking and auditing. Present improvements for performance, revenue and partnerships. Tags: Business Operations Analyst, IT Financial Planning Analyst, Senior Financial Analyst.
Previous Roles: Data Analyst, cross-over landscapes.
Future Roles: BI Developer, BI Analyst, Big Data Analyst, Consultant, Risk Analyst, Lead/Director.
Junior Quantitative Developer
Work closely with Quantitative Analysts to implement and optimize financial models. They may take a prototype code and rewrite in another language. However, some may become experts in one particular language knowing the ins and outs which is a more prominent and high-paying role. Other developers focus on financial pricing data and trading systems architecture. Tags: Quantitative Developer, Senior Quantitative Developer.
Previous Roles: BI Developer, Web/Fraud/Risk Analyst, Data Analyst
Future Roles: Senior or Lead Developer
Financial Applications Specialist
Provide technical support, forecasting, budgeting, and analytical accounting tasks,while maintaining a business process. Work with key users to optimally configure applications in addition to maintaining and supporting the overall data interfaces. Be responsible for production support and all related components including coding, issues, incidents and improvements with testing and validation procedures. Tags: Business Systems Analyst, Financial Analyst, Financial Applications Developer.
Previous Roles: Data Analyst, cross-over landscapes
Future Roles: Risk & Control Manager, Consultant, Lead/Director
Research, design, develop, and test blockchain/crypto technologies with solid implementation and management. Evaluate and classify solutions to implement and map against applicable use cases. Contribute to the development around the use and sharing of data on blockchains to ensure security and privacy. Tags: Blockchain Architect, Blockchain Solutions Analyst, Blockchain Engineer, Senior Blockchain Developer, Trading Analyst.
Previous Roles: Research, Analyst, Jr. Developer, Engineer
Future Roles: Blockchain Project Manager, Consultant, Lead/Director/Manager/Senior, Quantitative Trader
Risk & Control Manager
Evaluate and standardize risk routines and assessments to identify opportunities for process improvements, as well as control gaps. Manage risk assessment and acceptance process, risk awareness training, root-cause analysis for failed controls, and the use of risk tools. Tags: Claims & Risk, Safety and Risk, Risk Lead, Senior Manager, Operational Risk Manager, etc.
Previous Roles: Analyst, Blockchain/Crypto
Future Roles: Manager, Consultant, Lead/Director/Supervisor, Chief Risk Officer
Develop, test, support, and document simulations and calibrations methodologies. Use forecasting to identify/ investigate/solve through testing. Work with large data sets and cleansing to implement risk and return models. Have a passion for research, data, and market analysis, think holistically with business and economics in mind. Tags: Quantitative Data Analyst, Financial Engineer, Quantitative Research Analyst, Senior Quantitative Risk Analyst.
Previous Roles: Research/Risk Analyst,Engineer,
Future Roles: Quantitative roles, Consultant, Senior/VP
Research financial trends and patterns, diagnose and fix technical issues, develop and implement new trading systems and improve existing ones. Contribute strategy ideas for multiple markets, product insight, risk management, and trading systems that match company strategy and applications to improve profitability. Tags: Quantitative Researcher, Quantitative Strategist, Systematic Quantitative Trader.
Previous Roles: Research/Risk Analyst, Engineer
Future Roles: Consultant, Senior/VP