Pivoting to a Career in Tech in Finance
Delivered at the Singapore FinTech Festival, this panel featured senior leaders from Goldman Sachs, Prudential, the Institute of Banking and Finance (IBF), and Deutsche Bank. They explored strategies for transitioning into tech roles within financial institutions (FIs) and shared insights on the evolving demand for tech talent in the finance sector.
Key highlights
1. The growing demand for tech talent in finance
- Digital transformation:
- FIs are undergoing rapid technological evolution, with 40% of roles in some institutions now focused on tech. In fintechs, tech roles make up around 50% of total employment
- The scope of tech roles has broadened, encompassing data science, AI, cloud, cybersecurity, and more.
- Integration of technology:
- Modern banking integrates tech across functions, including legal, HR, and private banking, requiring versatile engineers.
- Soft skills, like communication and analytical abilities, are equally critical alongside technical skills.
2. Pathways to pivot into tech in finance
- Technology in Finance Immersion Programme (TFIP): Designed for mid-career professionals, this initiative has transitioned over 1,300 individuals since 2019.
- Career Conversion Programmes (CCPs): Enable reskilling within organizations to help mid-career professionals without tech experience to pivot into tech roles.
3. Skills in demand for career switchers
- Technical skills:
- Core programming languages such as Python, Java, C++ remain in high demand.
- In addition, FIs are also on the lookout for talent with experience in emerging fields including data science, cybersecurity, AI and cloud computing.
- Soft skills:
- In parallel to technical skills, soft skills remain critical to success at the workplace.
- Curiosity and adaptability to navigate ambiguity.
- Business acumen to bridge tech and organizational goals.
- Collaboration and the ability to work across disciplines.
4. Standing out as a candidate
- Preparation and networking:
- Leverage platforms like LinkedIn to showcase key skills effectively.
- Attend industry conferences and events to build connections and gain insights.
- Demonstrating value:
- Focus on impactful projects, certifications, and a clear narrative of transferable skills.
- Exhibit a proactive learning mindset by pursuing internships, short-term gigs, or experimental roles.
5. Enabling Internal Mobility
- Fostering Growth Within Organizations:
- Programs like Deutsche Bank’s BOOST provide data analytics training to non-tech employees.
- Internal job boards, in-house career fairs and mentorship programmes help employees explore and transition to new roles.
Conclusion:
The discussion underscored the vibrant opportunities within the finance and fintech sector for tech talent. With the right mix of technical expertise, curiosity, and adaptability, professionals can thrive in a sector continuously reshaped by innovation.
Watch Full Session
Speakers:
- Claire Beardsworth, Regional Head of Recruiting, Goldman Sachs
- Neetha Nair, Chief Human Resources Officer, Prudential Assurance Company Singapore
- Tan Yan Wei, Director and Group Head (Workforce Development), The Institute of Banking and Finance
- Ying Ying Lian, Head of Human Resources Singapore, Deutsche Bank
Moderator:
- Reuben Lim, Chief Executive Officer, Singapore FinTech Association