A host of opportunities in FinTech industry

Upper hand Several institutes offer UG, PG and certificate programmes in the field of financial technology that will give you an edge at the workplace.

While FinTech has spawned a plethora of new career opportunities, it is becoming increasingly difficult for FinTech disruptors to find suitable candidates who can keep pace with the demand for talent and the growth rate of the industry. Investments in FinTech have been increasing globally at a steady pace with the industry receiving USD 17.4 billion in investment in 2016 and a whopping USD 31 billion in the following year. With the industry projected to grow exponentially in the foreseeable future, talented FinTech professionals will quickly be snapped up for their unique skills and capabilities.

Among suitable candidates are individuals who are proficient in areas like blockchain, cybersecurity, software development, mobile application development, data science, machine learning, artificial intelligence and deep learning. 

Five in-demand positions across the broad FinTech spectrum is listed here:

Data Scientists: While data-gathering could be a junior-level task, at the mid-level, a data scientist may be responsible for building machine learning and artificial intelligence algorithms to automate or streamline processes. At a senior-level, data experts such as scientists, analysts and managers are required to mine and organise the data, extract greater insights and provide recommendations for new products and services or maybe to devise a new marketing strategy.

For people interested in pursuing a career in Data Science, there are several online and offline opportunities available in the country. Some noteworthy courses include: Post Graduate Diploma in Business Analytics, Certificate Programme in Business Analytics, Business Analytics & Intelligence, Post-Graduate Diploma in Data Science. 

Cybersecurity Specialists: Hiring candidates for the cybersecurity roles is particularly challenging, with NASSCOM estimating that India will need one million cybersecurity professionals by 2020 to meet the growing demands of the industry.

Premier institutes like IIIT-Delhi, IIIT-Hyderabad, IIIT-Guwahati, IIIT-Allahabad and AIACTR- Delhi offer M-Tech courses in computer science, information security and cyber law. There are several certificate courses such as CompTIA Security+, Certified Ethical Hacker, Certified Information Systems Security Professional and Certified Information Systems Auditor available for aspirants.

Financial Analysts: On the business side, as FinTech start-ups continue to grow, so will the demand for financial analysts who can plan budgets or cash flows, assemble financial reports and forecast future revenues and market trends. For some firms, they may also provide advisory inputs on capital-raising and
investor-related areas such as equity or debt issuance, stock-splits etc.

Skills in finance, mathematics, statistics, economics and accounting are the basic requirements if one seeks to pursue a career in this field; and hence courses such as a bachelor’s or master’s degree in finance, mathematics, statistics, economics or accounting is recommended as the basic requirement. 

Students interested in pursuing Financial Analytics courses can refer to the following options in India: Executive Development Programme in Financial Analytics and Financial Analytics.

Risk-control Managers: As FinTech industry is highly regulated and licence-heavy, it is vulnerable to risks pertaining to exposure, investments and legal compliance. Analysing risks to the business, mitigating their effects and preventing their occurrence in order to strategically support the firm in achieving its overall business objectives is the primary responsibility of risk-control specialists.

Skills required may include economic analysis, compliance management, stress-testing, portfolio management, capital management, risk culture development, risk appetite assessment, risk data analysis, etc. One of the most common ways to become a Risk management analyst is to pursue a bachelor’s degree in finance or a related degree such as statistics or risk management.

Executive Programme in Risk Management, Post Graduate Diploma in Risk Management and Certificate Programme in Risk Management are some of the courses in risk management.

Culture Champions: For FinTech firms, a positive, innovative and entrepreneurial image is an important aspect for success as their employees are the ambassadors of their brand. Like any other business, FinTechs also must ensure that all workers are happy, fulfilled and retained. Sustaining good talent is so important because hiring the most skilled candidates is not only the biggest expense of the FinTech industry but is also vital to future development. HR champions, culture evangelists and employee experience champions who can build and maintain diverse workplace environments are hence in great demand. 

Some of the most sought-after courses in Human Resources Management in India include Post Graduate Diploma in Human Resource Management and Post Graduate Programme in Human Resource Management.

(The writer is Chief Experience Officer at InstaReM) 

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