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IT Recruitment Update - Year to Date 2015
> Banking > Insurance > Asset & Wealth Management
For Financial Services Technology, 2015 so far has been a year of two fortunes.
We continue to see active hiring of Change Managers, Data Specialists and Technologists at all levels to fulfil the pressure from regulators for reporting and compliance. We are pleased to see new investments being made, cheered on by a wave of advancing digital technologies, the UK banking sector is innovating at pace to improve their services for customers. With new competitors in the banking market, established banks need to capitalise on their brands and infrastructure to offer a sophisticated experience to their end users.
Our major banking clients have reacted by digitising their core product sets, making services easier to use for consumers. Its evolution has moved from the traditional online services and sales, to mobile commerce, to integrating ‘bricks and clicks’ services. The key is to improve customer experience for different segments of clients across retail, business, corporate and
even private banking, though at staggered phases. With this in mind we are beginning to see demands in senior Change Managers and Project Managers to build and implement new business models.
The challenge at all levels is to deliver with minimal disruption whilst also satisfying regulatory requirements. Digital technologies must increase not just with customers but also with employees and suppliers. In 2015, mobile functionalities for payments grew in social media. The proactive use of Data has unlimited potential and our banking clients are now implementing an aggressive Client Data strategy making use of its new digital, cross device and real time environment.
Our clients’ Digital strategy also includes enabling the automation of mundane and low risk processes with the aim to facilitate regulatory compliance and more efficient workflows.
Banking in the Digital AgeUS Adult Mobile Banking Users by Device ( millions )
Mobile phone Tablet
2015
2014
2013
July 2015London | Edinburgh | Manchester | Reading
106 54.8
74.5 37.6
93.3 47.1
What is in the frame for digitalisation
Cloud-based Solutions
Our clients have started to marry IT strategies with pragmatic solutions. However the biggest area of growth and hiring has been slow this year to date. My clients told me that internal politics cause resistance but they believe that it is only delaying the inevitable. This is the real space to watch for the next 12 months.
We have seen some interesting new projects requiring skills in :
– Entity Framework Fluent API
– Windows Azure Development
– Application (ThinApp, XenApp, App-V)
– Server (VMware, Hyper-V, XenServer)
– Desktop (XenDesktop, View)
– Network (SDN, VMware, NetScaler, Cisco)
– Storage (NetApp, IBM, Compellent)
– Mobile Device Management (BYOD policies, Data Control, Self Service Portals)
Stay Focus in Cyber Security and Authentication
Malware and hackers have become an increasing threat. In response, voice biometrics, fingerprints, iris scans, and other authentication options will begin to replace passwords as a means to verify a user’s identity and simplify the online and mobile login process in 2015. The key will be to provide enhanced security against hackers while improving the overall user experience.
These are some of the necessary skills our clients have been hiring for so far this year :
– Cyber Security (Security Operations Centres, Incident Response, Threat Analysis, Vulnerability Assessments, Digital Forensic Computer Analysis, Data Loss Prevention, Intrusion Detection Systems)
– Network Security (Application Firewalls, Anti-Virus, IDS-IPS, Anti Malware)
– Disk Encryption (Sophos SafeGuard Enterprise, Synamtec PGP)
The rise of the Full Stack Developers and Integrators
Our clients in Banking, both the end users and consultancies are increasingly asking for ‘Full Stack’ skills. I asked them if it is reasonable to expect an individual to be expert in every facet of the development stack. The Client explained that a Full Stack Developer is someone with familiarity in each layer, has a versatile approach and the ability to integrate.
The technologies requested understandably are varied and numerous. Here are some examples :
Mobile Development
– iOS and Android native development
– Hybrid Mobile Apps
– Responsive Web Sites
– Mobile Web Apps
Web Development
– Web Apps, SPA (ASP.NET MVC, Backbone, Angular.Js)
– Web Server and Services (.NET, Node.Js)
– HTML5, CSS2, PHP, Scala,Javascript (LESS, Bootstrap, jQuery)
Database
– SQL Server, MySQL, SQLite, MongoDB
SEO and Analytics
– HTML DOM Optimisations, Open Tags, Sitemaps
– Social Apps, Social Logins (Facebook, Twitter)
– Affiliation API integration (Twitter, Amazon, Instagram, Foursquare, YELP, Google, iTunes)
The Hybrid Creative - Technical UX Analyst and Designer
Focussing on user-centric design and customer journeys should be compelling and highly differentiated, combining personalisation, speed, and ease of use for all processes, whether the customer is applying and getting approved for a loan, or opening and understanding how to make full use of an account, or reconciling payments. To make this leap in the delivery of customer journeys, banks are acting quickly to acquire capabilities in user experience and user interfaces.To fulfil these leading edge requirements, banking clients are breaking their traditional moulds and now seeking talents from hi-tech, online retailers and social media companies. In this creative world, new terms are heard every week but here are some popular skills :
Analysis Methodologies
– User Research, Personas HCI and Card Sorting
– Information Architecture, Wireframes
– Solutions Diagrams and Documentation
Design and Prototyping
– Balsamiq Sketch, Omnigraffle, Omniplan, Marvel App
– Photoshop, Illustrator
– Old Pens and Paper
Vacancy Per Team - Year to Date
Business Intelligence
Infrastructure and Support
BAPM DataApplication Development
20152014
Vacancy level comparisonYTD 2014 -2015
Jan Feb Mar Apr May Jun Jul
Chief Digital Officer – engagement with the new FinTech ecosystem?
An increasing number of Senior Technology Managers in our banking clients are interested and actively networking with Fintech. A lynchpin in this space, the Chief Digital Officer will be responsible for strategy and for looking at what small hi-tech companies, are investing in.
As once upon a time OpenSource technology earned its place in corporate applications development, the new digital age will break down barriers which traditionally surrounded Capital Markets and its privileges to access data. In fact Fintech start-ups and non-traditional providers have a clean slate and bright blue sky in this space.
Data gets Bigger – the aggressive Data Scientist
Over the past 12 months, I have written about investment banks in a race to recruit Data Scientists, largely focussed in change initiatives regarding regulatory, risk and compliance. Many of these programmes are now maturing and in implementation stage.
Over the last quarter, we have seen a change, a more aggressive use of Data. Our clients have hired Data Specialists for their newly evolved ‘Front Office’, modelling side by side with the Quants, and they will work on gaining business advantages from large datasets for a better understanding of the slow turnover markets. Big Data skills in demand within banking are Hadoop, Cassandra and MongoDB. Data Analytics continues to expand in 2015 requiring skills in QlikView, Tableau and Spotfire, whilst Mobile BI and Self Service BI become a necessity for pioneering organisations.
In the new digital world of banking, there are many opportunities to leverage data applying advanced analytics for cross-selling and up-selling of targeted offering, and going forward product design and pricing. Our banking clients’ lab based architects are reviewing real time ‘Mobile Tracking’ tools across channels and devices, currently building a business case for their use.
ALSO ON THE MAP...
Seriously Agile Solutions Delivery
We saw one of our clients share up its offshore team to embrace the new working methodology. In an interview with an Agile evangelist, the person said that Agile practices control costs as well as delivery time. This is exactly what both technologists and business want. Top down initiatives to affect Scrum, Kanban and Lean process improvement are set to change technology and operational compass across banking groups in 2015 and onwards. Hirers compete for Agile ‘masters’ in all locations.
Autotrading for FX and Rates
eTrading and Autotrading will replace human intervention. The huge fines levied against banks for allegedly manipulating currency markets will only accelerate this trend and FX and rates traders could suffer more. In this low latency space, Java has a slight edge over C#, though C# WPF/WCF remain a popular choice for front ends.
Application Support and Testing
Application Support has remained a focussed and essential vertical hire, especially within the third party for eTrading and Front Office. FX is a hotspot, with good demand for FIX, Murex, ION Marketview and Equity Derivatives. It has also been a buoyant year for Testers, as the entire DevOps and Developers in Test models grow and evolve. This is set to continue as banks looks to push software through the Testing / QA / UAT lifecycle into Production Support as quickly and efficiently as possible.
Nearshoring
For the first half of 2015, nearshoring traced its upward curve to become more prevalent. More financial organisations are favouring geographical proximity, speed to market, and lower costs (including travel costs), fewer language barriers and cultural learning curves as a more strategically beneficial option. So far this year we see a 24% increase in Development, Testing, Data Analytics and Support moving to other UK locations compared to 2014. The Northern Powerhouse - Edinburgh, Glasgow, Sheffield, Leeds and Manchester - are all building reputations as excellent education centres with top class talents. As these talents progress and grow their careers, demand in Change Project Managers and Business Analysts are on the increase.
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