Is now a good time to look for a job in fintech?
2022 was the year of technical redundancies. From the big players at Meta, Amazon and Twitter to fintech and cryptocurrency companies like Stripe, Klarna and Coinbase, the industry brought together around 154,843 workers last year, according to Layoffs.fyi.
The layoffs keep coming: the latest announcements by Microsoft and Alphabet, Google’s parent company, that they would cut five percent and six percent of their respective workforces have not been a good start to 2023.
Fintech also did not experience a year that could have been hoped for. In the UK, Innovate Finance, the independent industry body, reports that after a record year in 2021, 2022 was a year of global investment decline.
However, Britain continues to hold its own. Deloitte figures show that UK companies received the second largest amount of funding in the first half of 2022, after the US. Those in the UK received $9bn (£7.3bn) in funding, or a 17 per cent share.
“Our latest report shows that the UK continues to receive more investment in fintech than all the next 10 European countries combined, and remains second in the world only to the US,” confirmed Janine Hirt, CEO of Innovate Finance.
Paul Scully, the minister for the digital economy, had similar sentiments. “Despite global headwinds, UK fintech firms showed great resilience last year and helped boost the UK’s status as a world leader in technology – delivering jobs and huge benefits to our economy,” he said.
Career change
For those who are considering moving jobs this year, the B2B area is of particular interest. Dealroom.co’s Fintech Q2 2022 report stated that fintech remains the most invested industry worldwide. Dealroom has also reported that B2B fintechs in Europe attracted $14.1 billion in investment in 2022, which is four times the amount raised over B2C rounds.
The labor market within financial services as a whole is still lively with a lot of movement. The three roles below are currently available, and you can check out thousands more opportunities at Peer2Peer Financial News Job Board too.
Senior Business Analyst – Global Functions Tech Finance – VP, Citi, London
The Senior Business Analyst – Global Functions Tech Finance – VP at Citi will perform a business analysis role as part of the DevOps support team. An understanding of the Finance Operation/Reporting Ledger functionality is required and you will analyze complex business processes and determine an IT solution, while taking ownership of data analysis and support. You must be a strong expert in financial data, system (end to end), operational processes for the Fullsuite application and a timely solution provider, responsible for identifying problems in the system and delivering solutions by collaborating with various partners. If you are strong in Fullsuite, strong in data analysis and have a relevant diploma/degree/PHD as well as five years’ experience in data analysis, root cause analysis and stakeholder engagement/coordination for solutions and implementations, this could be the role for you.
Director, Software Engineering – RippleX, Ripple, London
The leading provider of enterprise crypto solutions, Ripple is also home to RippleX, an open money platform, which enables users to embed payments into applications through its XRP Ledger. The Director/Senior Software Engineering Manager will help build the next generation of tools and capabilities to create the value of the Internet. You will deliver outstanding results for clients and create a shared vision and build and maintain strong partnerships across teams. Responsible for the entire software development lifecycle, you will own and deliver your roadmap and continuously improve the speed, scalability and functionality of the XRP Ledger. To apply, you’ll need at least eight years of hands-on software development experience in Java, JavaScript, Python, or Rails, and you’ll have managed engineering teams of more than 10 people. Get the full job specification here.
Information/Cyber Security Data Scientist, Starling Bank, Cardiff
Starling Bank is looking for a data scientist with experience in information and cyber security to solve complex problems using machine learning. You will be part of a team that delivers data-driven solutions and insights to improve the speed, efficiency and quality of decision-making, and will build, test and deploy models that will improve and/or automate decision-making as well as provide insightful analytics across the bank and engage with engineering teams to ensure we capture data points that are relevant and useful for insights and modeling. To be considered, you need demonstrable industry experience in data science/machine learning in information/cyber security as well as experience using anomaly detection techniques on big data (both structured and unstructured) using technologies such as Apache Spark. Strong data wrangling skills for merging, cleaning and sampling data are also required. Get the full overview here.
For more great opportunities in finance, check out the Peer2Peer Finance News Job Board today
This article was written by Kirstie McDermott from Jobbio.
