Financial Technology

Financial Technology

Selby Jennings: A Leading Talent Partner in Financial Technology

Our global financial technology team provides permanent, contract, and multi-hire recruitment from our offices across three continents. For more than 20 years, clients and candidates have had peace of mind that the specialist financial technology recruitment process is in safe hands.

From streamlining processes and upskilling workforces to staying cutting edge by employing flexible work models, we advise enterprise leaders on when to strike and how. We also provide expert insight to FinTech professionals on benchmarking benefits packages and salaries and assist them through their career moves.

Employment in FinTech will continue to grow due to the high usage of mobile devices and technology-based solutions. The FinTech market's largest segment is Digital Payments, with a total transaction value of US$162,006m in 2019.

Based in the City of London, our consultants are specialists in their markets, recruiting top talent for organisations across the FinTech jobs market throughout the UK and Europe. Whether youโ€™re interested in securing the very best financial technology talent or youโ€™re a professional looking for FinTech jobs, the Selby Jennings financial technology team delivers exceptional talent to industry-leading clients and candidates.

โ€‹If you're a Financial Technology professional, please register your resume.

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Benefits of working with Selby Jenningsโ€™ global FinTech team

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We are a specialist talent partner. Among the many benefits of working with Selby Jenningsโ€™ global financial technology team are:

Extensive knowledge: We have over 20 years of experience in the financial technology sector

An unrivaled portfolio of clients, both big and smallโ€‹

Our award-winning talent experts offer specialist guidance in the financial technology space across three continents

โ€‹โ€‹Do not miss out on securing your desired wealth management professionals or securing your next FinTech role.

Financial Technology Jobs

AVP of Business Intelligence

Job Description: Fulfill the role of Tableau Cloud site administrator by establishing and maintaining the infrastructure that empowers Tableau Desktop users within the organization to publish, share, manage, and access data sources and workbooks. Act as the Tableau data manager responsible for creating and publishing data sources to Tableau Cloud, monitoring usage metrics of published data sources and workbooks, and tracking the success of extract refresh tasks and user activity. Administer Alteryx Server by installing, configuring, and maintaining its setup to ensure reliability and optimal performance. Manage SAP Business Object Server by installing, configuring, and maintaining its setup to ensure reliability and optimal performance. Oversee user management activities, including managing user access, permissions, and roles across all BI systems and servers, ensuring proper authentication and authorization. Set up repositories, users, and security management processes. Develop complex SQL code for reporting purposes. Proactively monitor and manage data quality. Strengthen security and audit practices. Provide support for various Tableau products including Tableau Desktop, Tableau Server, Tableau Cloud, Tableau Mobile, Tableau Reader, and Tableau Prep. Provide support for Alteryx Designer, Alteryx Intelligence suite, and Alteryx Server. Provide support for SAP BO Server and Webi Rich client. Perform data visualization, reporting, and analysis using various techniques and charts in Tableau Desktop. Configure BI Server to utilize an external identity provider (IDP) for authentication through SAML 2.0. Design and customize security architecture, including defining access levels, creating user groups, and implementing row and column-level security. Set up Distributed Server environments for optimal load balancing. Develop automated scripts for Tableau workbook refreshes. Conduct maintenance and monitoring of BI systems using appropriate tools, managing services, and maintaining server statuses. Configure LDAPS for authentication on Linux Tableau Server. Develop key metrics, uncover insights, and deliver critical analysis to guide business strategy. Collaborate with senior leadership and department heads to leverage data for informed decision-making and business success. Influence high-level decisions and provide descriptive, diagnostic, and predictive analytics solutions through visualizations and storytelling. Work as part of a dynamic team on various projects across the organization, contributing insights and decision support to fuel company growth. Qualifications: Bachelor's degree in computer science or engineering. Minimum of 10 years of experience in Tableau administration and data management. Minimum of 5 years of experience in Alteryx administration. Minimum of 5 years of experience in SAP Business Object administration. Experience with AWS technologies such as EC2, ECS, VPC, S3, RDS, and Redshift. Proficiency in advanced Business Intelligence, data science, statistical analysis, enterprise reporting, business objects, and ETL. Knowledge of best practices in administration, security, and clustering for Tableau, Alteryx, and SAP BO. Advanced analytical skills and ability to effectively communicate complex concepts. Experience with Agile software development using JIRA. Experience with multiple OS platforms, with a strong emphasis on Linux and Windows systems. Advanced SQL knowledge and experience in relational databases, query authoring, and query performance tuning. Familiarity with Incident Response and change management life cycles. Strong written and verbal communication skills. This position is not eligible for visa sponsorship now or in the future.

Negotiable
Boston
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FPGA Design & Verification Engineer

As an FPGA Design and Verification Engineer, your responsibilities include: Designing and implementing high-performance FPGA compute and networking systems essential for electronic trading. Developing testbenches and executing verification plans to ensure the correctness of designs. Collaborating with cross-functional teams to address unique technical challenges at the hardware-software interface. Playing a pivotal role in refining our process and team culture, focusing on continuous improvement in product development practices. Required Qualifications: BS/MS degree in Computer Engineering, Electrical Engineering, Computer Science, or a related field. 2+ years of relevant experience in digital logic design and/or verification for FPGAs or ASICs. Proficiency in writing RTL and/or testbenches using SystemVerilog (preferred) or VHDL. Strong proficiency in working within a Linux environment. Excellent interpersonal, verbal, and written communication skills. Desired Qualifications: Experience with Xilinx and/or Altera FPGAs. Familiarity with FPGA architecture and design techniques, including optimization strategies for synthesis and timing closure. Experience with advanced verification methodologies such as constrained random testbenches, functional coverage, assertions, formal verification, and UVM. Familiarity with industry-standard simulation and design tools such as VCS, Vivado, and Quartus. In-depth knowledge of networking protocols including IP, TCP, and UDP. Experience with high-speed interfaces like PCIe, Ethernet, and DDR. Familiarity with programming languages such as C and Python.

Negotiable
Boston
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Lead Software Engineer

As a Principal Software Engineer, you will: Apply your expertise in low-level programming to push the boundaries of high-performance computing and electronic trading. Lead the design, development, and debugging of C applications running on multi-core Linux systems, processing vast amounts of high-throughput, low-latency network data. Play a crucial role in shaping our process and team culture, constantly refining how we build products rather than just focusing on what we build. Lead and mentor software engineers, fostering a culture of continuous learning and collaboration within the team. Engage directly with customers utilizing the products you develop. Required Skills: MS/BS degree in Computer Science, Electrical Engineering, Computer Engineering, or a related field. 3-10 years of relevant work experience. Proficiency in C programming. Expertise in Linux application development. Demonstrated ability to navigate complex engineering challenges and lead engineering teams to effective and accurate solutions. Experience in defining test scenarios and test cases to ensure the quality of team deliverables. A passion for writing clean, simple, and elegant software. Proficiency in concurrency and multi-threaded architectures. Mastery of socket programming and TCP. Familiarity with scripting languages such as Python and Shell. Desired Skills: Experience with C++ and Java. Knowledge of financial markets.

Negotiable
Boston
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Senior Software Engineer (E-Trading)

As an expert software developer, you'll ideally have a nuanced understanding of financial markets, complemented by relevant electronic trading experience in at least one asset class within our trading scope. Joining a highly-focused team with broad responsibilities necessitates exceptional communication skills and a collaborative mindset. Your skillset should encompass: Required: Mastery in Java. Proficiency in database management and SQL. Strong communication skills adaptable to technical and non-technical colleagues. Advocacy for robust software engineering practices and agile methodologies, including continuous integration, code review, unit testing, and refactoring. Proficiency in both Linux and Windows environments. Advantageous: Comprehensive understanding of financial markets and instruments. Experience with FIX protocol is highly beneficial. Exposure to collaborating with Quants and/or Traders. Knowledge of Python. Previous involvement in front office software or trading systems development, such as within a hedge fund or investment bank. Expertise in constructing distributed systems using service-based or event-driven architectures, alongside concurrent processing. Familiarity with web-based development, including TypeScript. Relevant mathematical acumen encompassing statistics, asset pricing, time-series analysis, and optimization algorithms. Personal Attributes: Strong academic background with a degree rich in mathematical and computing components from a reputable university (e.g., Computer Science, Mathematics, Engineering, or Physics). Dedication to engineering excellence, fostering these principles within the team. Demonstrated passion for technology through personal projects or involvement in open-source initiatives. Analytical mindset with a propensity for problem-solving. Self-organization skills to manage time effectively across multiple projects amidst competing priorities. Commitment to delivering business value through continuous process enhancement. Proficient interpersonal skills, capable of establishing and nurturing relationships with quantitative researchers, traders, and senior stakeholders. Confident communicator adept at presenting and addressing conflicting perspectives concisely.

Negotiable
Boston
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VP of Quantitative Development

The Expertise and Skills You Bring: Bachelor's degree (Masters preferred) in a quantitative or computational field such as Computer Science, Applied Mathematics, Statistics, or Engineering. Over 12 years of extensive experience in a quantitative or computational environment, specializing in supporting investment management with a focus on Fixed Income asset class securities. Demonstrated proficiency with 7+ years of experience in designing and developing methods and solutions specifically tailored to Fixed Income analytics, risk assessment, and pricing models. Proven track record with over 5 years of experience in managing associates, exhibiting strong leadership capabilities in team building and development. Comprehensive understanding of full-stack software development, coupled with critical thinking skills to devise optimal solutions for computing fixed income security level analytics. Proficiency in software engineering encompassing languages such as C++, Python, shell scripting, SQL, and experience working in a Linux environment, preferably within a command-line interface. Effective communication skills demonstrated through the ability to engage with multiple stakeholders, including fundamental and quantitative researchers, as well as technology partners.

Negotiable
Boston
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VP of Data Engineering

The Expertise and Skills You Bring: Bachelor's degree or higher in Computer Science, Management Information Systems, Business Information Systems, Mathematics, or a Finance-related field. Over 7 years of comprehensive experience in data engineering, including senior and team leadership roles, within peer firms. Proficient in utilizing agile methodologies and modern SDLC processes to deliver high-quality technological solutions transparently and reliably. Demonstrated mastery of industry-standard processes throughout the data lifecycle, with expertise in data quality automation and tooling. Deep domain knowledge of financial datasets, encompassing platforms such as FactSet, Bloomberg, IBES, CompStat, S&P Global, Worldscope, Morningstar, MSCI, Reuters, IDC, Markit, BARRA, Axioma, Northfield, and PORT. Proven track record of navigating complex data environments and associated technology and analytics infrastructure, coupled with successful leadership in managing intricate data initiatives or projects. Proficiency in identifying and addressing business risks, effectively communicating them to key decision-makers. Advocate for fostering a team culture centered on accountability and continuous improvement, actively eliminating impediments to facilitate team success. Extensive expertise in the Investment Management business domain, spanning research, portfolio management, trading, and investment operations. Proficient in delivering datasets from onboarding through mapping and automated data quality processes, facilitating seamless handoff to the Data Operations team for maintenance and consumption by research teams and production. Provide data stewardship to team members and Data Operations, ensuring thorough review of datasets for completeness and quality. Design and implement robust processes and tools for data onboarding and quality management, contributing to the development of industry best-practice solutions for managing the data lifecycle. Develop standalone tools for automating data quality checks and fault discovery, enhancing efficiency across teams. Mentor junior engineers within your team, facilitating specialization and scalability as the team grows.

Negotiable
Boston
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Quantitative Developer

We're in search of a Quantitative Full Stack Developer to join our Fixed Income Quant Research Team as an integral part of our embedded resources. Your role will encompass diverse projects spanning various facets of the investment process, including data loading, research tool development, model generation, and analytics. Primarily, you'll contribute to shaping and implementing a novel data processing and modeling procedure for the Fixed Income Team, leveraging Python and a cutting-edge cloud-native scalable-computing platform. Collaborating closely with Fixed Income Researchers and Portfolio Managers, you'll concentrate on refining all aspects of research and production model code vital for supporting the team's investment endeavors. This position offers an opportunity to cultivate a comprehensive quantitative and economic grasp of models, along with an understanding of the inputs driving model outputs. Responsibilities: Quant Development: Enhance, develop, test, and deploy production model code to support existing research platforms and strategy/portfolio applications. Platform Migration: Aid in transitioning code to a new Python-based quant infrastructure, contributing insights towards modern architecture in collaboration with Technology team members. Software Engineering: Apply industry-standard best practices for software design, lead internal code review processes, perform code analysis, and proactively identify software risks. Data Pipeline Management: Design and implement efficient end-to-end data and analytical solutions supporting internal business needs, utilizing a Python stack. Database Consolidation: Assist in consolidating data sources used by the investment team onto a shared platform, ensuring compliance with GMO's architecture best practices and coding standards. Team Participation: Actively engage in GMO Python/new platform working groups and agile/scrum activities. Requirements: Bachelor's degree or equivalent required; Advanced degree in computer science, engineering, math, or science preferred. Familiarity with statistics and experience with optimization libraries (e.g., open-source like cvxpy, commercial solvers like cplex and gurobi) beneficial. MATLAB experience advantageous, though not mandatory. Minimum of 3-5 years of professional Python experience, including package development. Strong understanding and application of software design principles. Preferred experience with SQL queries and relational database development. Bonus: Familiarity with modern CI/CD DevOps and orchestration tools such as Azure DevOps, Airflow, Kubernetes, and Docker. Strong preference for experience with GIT.

Negotiable
Boston
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Senior Software Engineer

Position Overview: We are seeking a skilled and experienced Application Developer proficient in Python to join our dynamic team. As an Application Developer, you will play a key role in designing, developing, and maintaining high-quality software applications that meet our clients' needs and exceed their expectations. You will work closely with cross-functional teams to translate requirements into robust, scalable, and efficient solutions. Responsibilities: Collaborate with product managers, designers, and other stakeholders to understand project requirements and objectives. Design, develop, test, deploy, and maintain Python-based applications and systems. Write clean, efficient, and maintainable code following best practices and coding standards. Troubleshoot issues, debug code, and implement solutions to ensure optimal performance and reliability. Participate in code reviews, providing constructive feedback to peers and continuously improving code quality. Stay up-to-date with the latest technologies, trends, and developments in application development and Python ecosystem. Requirements: Bachelor's degree in Computer Science, Engineering, or related field (or equivalent work experience). Proven experience as an Application Developer or Software Engineer, with a focus on Python development. Strong proficiency in Python programming language and related frameworks (e.g., Django, Flask). Experience with database systems (SQL and/or NoSQL databases) and ORM libraries. Familiarity with front-end technologies such as HTML, CSS, JavaScript, and related frameworks (e.g., React, Angular). Knowledge of software development methodologies, tools, and processes. Excellent problem-solving skills, attention to detail, and a proactive attitude. Effective communication and collaboration skills, with the ability to work in a team environment. Ability to multitask, prioritize tasks, and meet deadlines in a fast-paced environment.

Negotiable
Boston
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FPGA Engineer

Responsibilities Include: Design and implement high-performance FPGA compute and networking systems used in electronic trading. Develop testbenches and execute verification plans to ensure design correctness. Collaborate with cross-functional teams to solve novel technical problems at the intersection of hardware and software. Be a key contributor to our process and team culture, continually iterating on how we build products, not just on what we build. Qualifications: BS/MS in Computer Engineering, Electrical Engineering, Computer Science, or related 2+ years of relevant experience in digital logic design and/or verification for FPGAs or ASICs Experience writing RTL and/or testbenches in SystemVerilog (preferred) or VHDL. Proficiency working in a Linux environment.

US$140000 - US$215000 per year
Boston
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Senior Software Engineer

Qualifications: 5-7 years of professional experience in software engineering, with a preference for expertise in quantitative applications Advanced proficiency in Python and Pandas, coupled with competence in related scientific libraries like NumPy, SciPy, statsmodels, and scikit-learn Demonstrated track record in developing mission-critical production systems, with expertise in best practices for testing, monitoring, and deployment Strong familiarity with Linux platforms and a solid grasp of Git Working understanding of one or more pertinent database technologies, such as MS SQL, Postgres, or MongoDB

US$150000 - US$215000 per year
Boston
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Quantitative Researcher

Your role is anticipated to evolve alongside your growing experience and capabilities. Depending on your strengths, typical responsibilities may encompass: Consolidating, organizing, and scrutinizing vast datasets from diverse origins. Evaluating the quality of historical and present data, identifying shortcomings, and recommending improvements. Conducting ad-hoc exploratory statistical analyses across numerous extensive and intricate datasets sourced from various structured and unstructured outlets. Developing and maintaining production-grade code integral to the investment workflow. Investigating foreseeable patterns in asset performance, risks, trading expenses, and other pertinent financial market data. Engaging in portfolio construction research utilizing our simulation tools. Collaborating with software engineers to devise interfaces for integrating new data sources procured from third-party providers. Contributing to data architecture decisions to fortify the Research data platform. Qualifications: Enrolled in or graduated from an undergraduate or graduate program in finance, mathematics, economics, or a closely-related field emphasizing quantitative and financial analysis. Demonstrated achievements in either professional or academic spheres (recent graduates are welcome). Proficient in analytical, quantitative, and problem-solving abilities. Familiarity with probability, statistics, linear regression, time-series analysis, linear algebra, calculus, optimization, and portfolio theory. Knowledgeable about applying statistical methodologies to economics (including econometrics or regression analysis). Experience with statistical computing environments like Python, Stata, R, or MATLAB. Proficiency in analyzing extensive datasets. Understanding of finance, encompassing equities and derivatives. Enthusiasm for financial markets. Exceptional communication skills, particularly in data visualization. High energy levels and a strong work ethic. Additionally, the following would be advantageous: Proficiency in the academic domain of empirical asset pricing. Familiarity with financial data products. Exposure to stock market datasets.

Negotiable
Boston
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Senior Software Engineer

Essential: 5-7 years of professional experience in software engineering, ideally with a focus on quantitative applications. Profound expertise in Python and Pandas, alongside proficiency in related scientific libraries like NumPy, SciPy, statsmodels, and scikit-learn. Track record of developing mission-critical production systems, with a deep understanding of testing, monitoring, and deployment best practices. Competence on Linux platforms and a strong command of Git. Working familiarity with one or more pertinent database technologies such as MS SQL, Postgres, or MongoDB. Demonstrated ability to work with large data sets, encompassing both structured and unstructured data. Advantageous: Experience in quantitative software development within a front-office environment, such as at a hedge fund, proprietary trading firm, or investment bank. Previous involvement in mentoring junior team members and project management. Proficiency in building web applications using contemporary frameworks like React. Competent with distributed computing technologies like Spark, Dask, Kubernetes, and Redis. Understanding of modern data engineering practices, including data pipeline & ETL tools, distributed storage & processing, and data warehousing. Sound comprehension of financial markets and instruments, including experience working with financial market data. Relevant mathematical knowledge such as statistics and time-series analysis. Personal Attributes: Strong academic background with a degree emphasizing mathematical and computing disciplines like Computer Science, Mathematics, Engineering, or Physics. Intellectually robust with a keenly analytic problem-solving approach. Self-organized with the ability to efficiently manage time across multiple projects amidst competing business demands and priorities. Committed to delivering value to the business through continuous process improvement. Strong interpersonal skills, adept at fostering close working relationships with quantitative researchers, portfolio managers, traders, and senior business stakeholders. Confident communicator, capable of articulating points concisely and navigating conflicting viewpoints effectively.

Negotiable
Boston
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FinTech News & Insights

Financial Technology Salary Guide Europe 2023 Image
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Financial Technology Salary Guide Europe 2023

โ€‹With projections of becoming a $1.5 trillion industry by 2030, the financial technology sector has witnessed rapid growth in recent years. Banking-focused financial technology companies are expected to make up almost 25% of all banking valuations worldwide by the end of the decade.With this anticipated growth comes the hot topic of salaries, not only for those hiring and professionals already working in the industry, but also for those considering a career in this exciting and lucrative field.Offering a comprehensive overview on Financial Technology compensation in Europe, the following guidance covers key markets in Europe, based on our specialist consultantsโ€™ market expertise and conversations with hiring managers and top talent:Software Engineering - Hedge Funds / Prop TradingSoftware Engineering - Sell SideInfrastructure - Hedge Funds / Prop TradingInfrastructure - Sell SideData Engineering - Buy Side / Prop TradingData Engineering - Sell SideDonโ€™t miss these essential insights - download your copy of the Selby Jennings Financial Technology Salary Guide Europe 2023 here:โ€‹

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Tomorrow's Fintech

โ€‹โ€‹As the fintech sector continues to experience significant growth, itโ€™s vital that hiring keeps pace with the market.This report investigates the future of hiring in the fintech industry, so whether you are an organization searching for the right people to achieve your business goals, or a professional pursuing your next opportunity in this rapidly evolving market, we bring you valuable insights on:Key hiring trends in the fintech sector and their implications on the wider financial services industryCompensation guidance covering the US, Europe, and APACRecommendations for companies seeking to attract and retain top talentAdvice for candidates looking for their next career moveDownload your copy of the 'Tomorrowโ€™s Fintech' report by completing the form below:โ€‹โ€‹

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2023 Bonus Season Breakdown

Discover the latest analysis of bonuses and rewards in the Financial Sciences & Services industry, and how it impacts the talent market.Understanding bonus structure has become not only a critical aspect to businesses in attracting and retaining top talent, but also for professionals in knowing their true value.Analysing the rewards arrangement across the Finance and Banking industry, we surveyed over 2,000 professionals based in Europe to discover:What value their bonuses are Whether they are satisfied with their bonusKey drivers behind their bonus pay-outsPerformance metrics used to determine bonusesย Offering valuable insights to both professionals looking to benchmark themselves, and for businesses reflecting on their compensation strategies, both parties can take away a number of key considerations from this exclusive report. โ€‹Download your copy of the 'Bonus Season Breakdown' report by completing the form below:โ€‹

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financial-technology

Selby Jennings to Join Panel at AI & Emerging Technology for Finance

โ€‹We are delighted to announce thatJesse Skaff, Vice President โ€“ Client Relations at Selby Jennings, has been invited to speak on a panel atAI & Emerging Tech for Financehosted byCorinium Global Intelligence. This event, hosted at the Convene on 101 Greenwich Street, New York, NY from November 12-13. The event will explore the role that technology, particularly AI, plays in the finance and how it will impact the future of the industry.ย Many see AI as a natural step in the evolution of big data analytics and few industries have embraced related emerging technologies, or have more potential to gain from it than the finance community. Early adopters have the potential to make trillions of dollars in the coming years- which makes it even more crucial for organizations to be in the know and on the cutting edge. AI & Emerging Tech for Finance will bring together senior executives from investment houses, funds, wealth managers and investment banks to discuss the most strategic way forward to best embrace the new status quo.ย Skaff will participate in a panel called โ€œDeveloping Talent and Increasing Diversity in the Industryโ€, which will explore some of the most pressing challenges faced by finance industry. Earlier this year, Selby Jenningsโ€™ Managing Director of North America , Oliver Cooke, moderated a similar panel at QuantMinds International in Vienna, which discussed challenges and opportunities for gender diversity in quant finance. The emphasis on these topics highlights the need to continue the conversation on improving diversity across finance globally.ย ย โ€œDiversity & Inclusion is not just a leading initiative for hiring talented professionals, it is a principal paradigm that is sweeping the globe. Recognizing and promoting the importance of diversity in thought, character, and individuals in and outside of the workplace is a positive step for industry and humanity,โ€ Skaff states.ย Joining the โ€œDeveloping Talent and Increasing Diversity in the Industryโ€ discussion group are an esteemed selection of speakers, including Jess Stauth, Managing Director, Fidelity Labs at Fidelity Investments, and Kathryn Zhao, Global Head of Electronic Trading at Cantor Fitzgerald.ย Registration for AI & Emerging Tech for Finance is now open. Enjoy an exclusive 15% discount for the event using the code โ€œSelby15โ€. Click below to learn more and secure your ticket.ย --------------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries.ย Contact usย to find out how Selby Jennings can help you.

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How Making the Right Fintech Sales Hire Impacts Your Bottom Line Image
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How Making the Right Fintech Sales Hire Impacts Your Bottom Line

โ€‹With the end of the year rapidly approaching, we are all looking towards 2019 for ways that we can grow and be better in the New Year, and the same goes for Fintech Sales teams looking to grow their headcount.Ensuring you make the right hire for your team can have a significant impact on the bottom line of the business. According to research from Parker & Lynch, the U.S. Department of Labor estimates that the average cost of a bad hire can equal 30 percent of that individualโ€™s annual earnings. For a mid-senior level sales hire, which Selby Jennings primarily focuses on, that means that one bad hire can cost your business upwards of $130,000. With an opportunity cost like that, itโ€™s no wonder that businesses place so much emphasis on vetting, acquiring, and ultimately keeping their top performers.In addition, when it comes to your bottom line, speed is everything. Many of the potential clients we speak to have seats that sit vacantly for stints of 8-12 weeks or more, while they wait for the best candidates in a niche market to apply in to the jobs they post on LinkedIn, or other job boards. Some clients are fortunate enough to have a talented Human Resources department that diligently sources talent for every arm of the business, which can be an effective, albeit painstaking, process as well. But in an economy with the lowest unemployment rate since the Clinton administration, no matter the methods, 8-12 weeks to fill can negatively impact the bottom line.This is where working with a specialist recruitment firm, like Selby Jennings, can add value to your business by leveraging our extensive network to source top candidates, cutting time to hire, and reducing opportunity cost for our clients. On average, it takes us 4-6 weeks to fill a vacancy. When it comes to a revenue producing sales seat, those extra 4-8 weeks can really impact your budget and your wallet. Take your standard mid-level Account Executive, responsible for a $500,000 new business quota per annum. While that seat sits collecting dust, you are actually losing an average of $41,600 per month, which is almost $10,000 per week of production that you and your business are missing out on.Beyond the lost revenue potential, there is also a time cost associated with a longer hiring process. Senior Recruitment Consultant at Selby Jennings, Scott DeAngelis, comments, โ€œHow many times this year did you set aside an hour of your day to interview a candidate, only to find out that they were unqualified for the job? The number is probably higher than weโ€™d like to admit, and the frustration of that lost productivity is something that is difficult to put a price on. Working with specialist recruiters, like those at Selby Jennings, can reduce this time cost by making sure your time is spent interviewing high caliber candidates, who are qualified for the role.โ€If those numbers make you think a bit differently about how you approached your recruitment process this year, it is definitely worth having a conversation with our team about how we can help you streamline your recruitment process, and secure top candidates for your organization. Get in touch with Selby Jennings today to learn more.---------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries.ย Contact usย to find out how Selby Jennings can help you.

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The fintech start-up culture in Boston

โ€‹Boston is fast becoming the hub for fintech start-ups in the US, with the rapid expansion of the sector causing increased disruption in the traditional financial services sector. The financial services industry accounts for 9% of Massachusettsโ€™ gross domestic product (GDP), and yet McKinsey & Company recently published a report stating banks could lose up to 60% of their retail profits to fintech firms in the future. It is even claimed this shift will have a more significant impact on bankingโ€™s economics and fundamental business models than the global financial crisis of 2007.Banks could lose up to 60% of their retail profits to fintech firms โ€“ย McKinsey & Co Global Banking Annual Review 2015Accenture has released figures predicting that, by 2020, more than one third of traditional retail banking revenues could be at risk due to emerging competitors and trends, such as the advent of fintech start-ups.Globally, the fintech sector tripled in value in 2015 to reach over $12 billion. Boston has been helping to fuel this rapid growth thanks to the strong investment by Venture Capital (VC) and private equity firms; many of whom are located in Bostonโ€™s famous VC corridor.Fintech sector reached a value of $12.21 billion last year โ€“ย AccentureThe globally renowned educational institutions in the area also ensure that Boston is developing a highly intelligent candidate pool. These factors have made the city a hot-bed for start-up activity; residents of Massachusetts are regarded as some of the most educated in the country. The state is home to some of the top graduate business schools including Harvard University, Massachusetts Institute of Technology, Bentley University, Boston College, and Boston University.The factors mentioned above have led to Massachusetts being ranked third in the US for the number of data scientists per capita. By the year 2018, the state could be advertising 120,000 big data jobs.Massachusetts ranked 3rd in the US for the number of data scientists per capita โ€“ย McKinsey & Co and PwC โ€˜The Massachusetts Financial Services Sector: Talent and Technology โ€“ A 2024 Visionโ€™The fintech boomIn Boston alone more than 100 fintech start-ups have emerged in recent years, according to Fintech Sandbox.These start-ups focus on a range of financial services, from investment software to payments systems and hedge funds. Some of the most successful examples include Quantopian, a crowd-sourced hedge fund currently engaging in an aggressive recruitment drive, having already raised tens of millions of dollars in multiple funding rounds; and Cambridge Blockchain , an identity management platform for blockchain systems who recently won $15,000 in the Santander InnoVentures Distributed Ledger Challenge.Some well-established financial institutions are seeking to encourage innovation by teaming up with entrepreneurs and forging a strong fintech start-up community. Fintech Sandbox, for example, is a non-profit organization that teams start-ups with free data from big companies and is funded by the financial services giant Fidelity, while the Digital Federal Credit Union (DCU) has created the DCU Center of Excellence in Financial Services (DCU CoE) to offer fintech start-ups a physical space for work, support and mentorship.The draw of the start-upAs fintech start-ups build momentum, they are attracting an increasing number of high-profile, experienced financial services professionals.Established banks, hedge funds, asset, and investment management businesses are beginning to lose top talent to these start-ups. Senior candidates with experience and a strong financial network are embracing the flexibility offered by these new employment opportunities. The decision boils down to two key considerations:There is less hierarchy within start-ups and therefore career progression and an ability to dictate the future of a company is easierCandidates are often offered equity as part of their deal, meaning they have a vested interest in the future of the companySenior candidates are becoming less interested in joining larger corporations as the perceived โ€˜glass ceilingโ€™ culture can restrict their career progression. Conversely, within start-ups they are able to earn a decent wage, gain respect, and place at a higher position based on their own merit.Competition between fintech and traditional financeFor senior candidates making the move from traditional financial services to new fintech start-ups, money is often not a significant factor in negotiations; many have already reached financial highs in traditional finance, having received significant bonuses and/or sold shares. The lower salaries offered by fintech start-ups are therefore not an issue โ€“ rather it is the skills and experience these candidates will be able to draw upon that makes a career at a start-up a particularly attractive option for them.Well-established financial institutions are finding it increasingly challenging to retain top talent by simply offering a higher-profile position. They cannot implement an internal restructure as easily as start-ups can. Lucrative bonuses may be offered instead as an attempt to keep hold of talented individuals, but more often than not, these are paid over a specific timeline to ensure long-term commitment.A new avenue of opportunityEstablished financial centres can still offer job security, high salaries, and structured career progression. In addition, substantial experience at a big-name company will never fail to add gravitas to any senior candidateโ€™s rรฉsumรฉ.However, fintech start-ups present an attractive option thanks to the greater level of flexibility they afford, the potential of a more powerful position, and a significant equity package. They also offer more exciting work in emerging financial sectors, which could potentially align more closely with the candidateโ€™s own social conscience.Real-world perspectiveOne of Selby Jenningsโ€™ exclusive fintech start-up clients believes that the current wave of fintech companies is only the tip of the iceberg, hinting at huge potential growth for the future.โ€œFurther growth is still up for grabs. For example, the majority of the marketplace lending platforms are not accepting anyone who has a FICO score of 660 or lower, but 56 percent of consumers in the United States carry a subprime credit score. More than 50 million people have a thin or non-existent credit file. Within that group however, there are people with a strong cash asset and an outstanding debt-income ratio, which makes them great loan applicants, often misrepresented by FICO scores. Aside from lending, there are also different financial products including currency exchange, cross border financing, and so on that havenโ€™t been fully explored by technology companies.โ€This future growth also presents a major opportunity for innovation. โ€œWhen Lending Club and OnDeck went public, people started to see how technology can help companies to develop business by eliminating inefficient processes in the financial sector. However, there is no player in the space that yet demonstrates the ability to establish industry wide standards and integration. Companies that have the resources to develop such standards would ultimately dominate the industry.โ€One of the major challenges facing fintech start-ups in recent years has been global outreach, leading to an intensification of domestic competition. โ€œDue to the regulations and risk in exchange rate fluctuation, companies are still trying to identify the appropriate strategy for their expansion plan into different countries,โ€ concludes our client. โ€œThis presents tremendous opportunity for both existing and new players in the space.โ€Skills of the futureThe growing impact of fintech in the Boston area and beyond is leading to an increased demand for skills in compliance functions, risk, regulation, and knowledge analytics. While traditional financial services firms are still seeking to hire, fintech start-ups are an exciting new avenue for senior financial services candidates to explore.For further insight on the financial services industry in the US, and the recruitment opportunities it presents,ย contact Selby Jenningsย today.โ€‹-----------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries.ย Contact usย to find out how Selby Jennings can help you.

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Developments in Fintech Sales and Marketing Image
financial-technology

Developments in Fintech Sales and Marketing

โ€‹Fintech companies are continuing to grow in popularity as they release innovative new products into the market. An increasing number of start-ups are entering the money transfer, payment technology, loaning, and lending space. Taking a more creative approach to the business of finance, these new start-ups have already released an impressive amount of cutting-edge technology so far this year.Investment banks are finding it increasingly difficult to keep up with these innovative financial technology firms who specialize in one specific area, compared to traditional banks that usually cover multiple sectors.The Fintech Fieldโ€‹According to a report by McKinsey, $23 billion of venture and growth equity was invested in fintech between 2011 and 2016.1ย This trend looks set to continue, with the investment forecast predicting more growth in the near future.โ€‹For many fintech companies, younger, less-experienced candidates (those with five or less yearsโ€™ experience) hold the key to success. By targeting this demographic, firms can watch their talent grow organically. As more organizations expand in this manner, there is a greater integration of employees across each line of business.โ€‹For example, most fintech sales teams are spread across hunting, farming, and marketing, with smaller companies having less division of labor. In contrast, fintech giants tend to adopt a more streamlined process to help marketing materials convert into top-line dollars.โ€‹Compared to last year, more senior-level employees are looking for new opportunities. There are a few reasons for this. A higher volume of top-level layoffs have taken place this year, while junior talent has been less affected. Plus, many at the senior management level, who better understand the direction of the firm in relation to funding and growth, have left their organizations to seek opportunities elsewhere.โ€‹Candidate Trendsโ€‹Much of the talent who are looking to move to a start-up have 10-20 yearsโ€™ experience and want to try something new. However, a growing number of business graduates are also showing an interest in fintech jobs, rather than more traditional financial services careers. Blockchain-related roles are most popular, with the number of blockchain job adverts on LinkedIn increasing by more than 40% each quarter.2โ€‹It is the exciting work environment of start-ups that candidates find so attractive. While the risks of joining a start-up are acknowledged, the upside is that candidates are able to add immediate impact to the business.โ€‹Barriers to market entry have remained relatively low as long as a niche product is identified and the means to go to market are strategically planned. Candidates want to work for exciting start-ups that specialize in a specific niche space and have a truly competitive advantage. On sales teams this is especially appealing as it allows for higher margin sales and higher commission potential.โ€‹Candidates willing to take the risk associated with joining a start-up are rewarded with the opportunity to gain equity and bigger pay-outs in the future โ€“ provided they impact the growth of the business.โ€‹Areas of Growth and Declineโ€‹We are seeing increased growth in the big data analytics and investment research space. As new data sets and alternative data are produced, fintech firms are finding clever ways to create products that would be too costly and timely for banks to create in-house.โ€‹Emphasis on the expert network space is decreasing as resources are being commoditized. In addition, we are seeing fewer sales into investment banks. Typically, the sales process with investment banks takes longer and is more regulated compared to the buy side.โ€‹On the other hand, selling into the buy side is a growing space. It appeals to candidates because there is greater risk-taking, capital raising, and diversification opportunities depending on the investment style of each firm.Geography Trendsโ€‹Five years ago, Silicon Valley was the heart of fintech start-ups, but now the focus is starting to shift away from the area. Unless the compensation package is phenomenal, candidates are reluctant to relocate there because of the high cost of living.โ€‹Boston, New York, Chicago, and San Francisco are still major hubs for fintech start-ups. However, new companies are opening offices in more cost-efficient locations such as New Jersey, Atlanta, Portland, and Texas.---------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries.ย Contact usย to find out how Selby Jennings can help you.

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Increasing Technical Skillsets in the Middle Office Image
financial-technology

Increasing Technical Skillsets in the Middle Office

โ€‹Nostalgia for the 90โ€™s runs far beyond just fashion, TV and games. It has spread into business too. Many banking and hedge fund managers look back fondly to a time when business was more about personal relationships and simple investment strategies and less about regulators and efficient operating infrastructures.But, as businesses evolve, so too do their processes. Managers are looking at their middle-office functions with fresh eyes, seeing them as largely untapped sources of value.Data and the middle office revolutionNostalgia can only take us so far. The reality is that all businesses need to find new ways of working harder and faster. The middle office has the potential to add this extra value.The growing demand for more consistent, accurate and timely data has meant the middle office is seeing a sharp rise in the volume of data passing through it. According to estimates by PwC, assets under management will rise from $63.9 trillion in 2014 to more than $100 trillion by 2020.1As a result, the middle office is undergoing a major evolution, as managers work to unlock the secrets of greater competitiveness, efficiency and insight.Trends in trade processingThe trade processing cycle is being affected from all angles, not least because investors are having to deal with the impact of an expanding international community. Trading across different time zones is far easier than it was a decade ago, with global settlement cycles more standardized and operating more efficiently.Equally, we are seeing closer relationships between investors and their regulators, government agencies and industry standards bodies. All parties are working together to develop an international set of best practices. If finance is reliant on information, and information is reliant on the efficiency of the mechanisms designed to deliver it from one party to the next, these improvements in the trade processing cycle are vital to middle-office success.Consolidate and convergeWithin the industry, there is an increasing emphasis on consolidation and convergence. However, technology is at the heart of this and the pressure for businesses to stay uber-efficient and automated is placing increasing pressure on technological capabilities.The expectation is that in the future, a trade will be able to pass from the buy-side to the depository through automation alone. For this to happen, we need the right technology โ€“ technology that is robust, cohesive and that links the industryโ€™s firms, systems and depository linkages. And for that, crystal clear communication is key.Rules and regulationsItโ€™s the job of the regulators to ensure that best practices and standards are put into practice and enforced. Not easy in a world that seems to shunning the idea of a global village in favor of a more inward-looking mindset.The Canada-EU trade partnership seems plagued with obstacles and disagreements, while the Brexit vote is symptomatic of the idea that we are not all in it together. Closer to home, the US election result has shocked the world and raised countless questions about the future.Regulators looking to create cohesion through multiple parties working as one have got their work cut out. How do you achieve standardization when the balance has tipped from working together with external parties towards a sense of nationalism and self-sufficiency?Talent gets technicalFor many years, working for one of the big-name investment banks has been the ultimate career aim. However, with these banks facing an increasingly regulatory atmosphere, those looking for their dream job are now pausing to weigh up their options.A swathe of smaller, more flexible trading firms โ€“ driven by technology โ€“ are responding more quickly to market changes and global events. In the process, they have become more appealing to candidates, especially millennials. This means candidates are doing everything they can to demonstrate they have both the technical skillset (data analytics and blockchain experience, for example) and the ability to apply that knowledge to a constantly evolving financial landscape.Getting a foot in the door at these firms has become increasingly difficult - ย an Ivy League college might look great on a CV, but when it comes to the middle office a candidate with an ever-changing hybrid set of skills will be the one that shines the brightest.Financial services now require a more diverse skillset within the middle office โ€“ individuals who can work just as closely with revenue and the markets as they can with technology and systems.If youโ€™re looking for top talent in this space, Selby Jennings can help. We are specialists in recruitment for the financial services industry and our unrivalled knowledge of niche areas โ€“ such as middle office โ€“ means we can deliver the expertise required to meet your requirements. Call the team today for more information.โ€‹------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries.ย Contact usย to find out how Selby Jennings can help you.-----Sourceshttp://www.statpro.com/blog/the-middle-office-key-challenges-that-will-shape-its-future/http://www.investopedia.com/terms/m/middleoffice.asphttps://www.sibos.com/media/news/trends-post-trade-processinghttps://www.seic.com/docs/IMS/SEI-Data_Mgmt_in_MO-Ignites-Jim_Cass.pdf

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Fintech Market Overview: Developments in North America Image
financial-technology

Fintech Market Overview: Developments in North America

โ€‹โ€‹Whatโ€™s happening in fintech? Ian Pollari, Global Co-Leader of Fintech at KMPG International and Partner at KPMG Australia, says: โ€œWe are seeing a continued diversification across many dimensions of fintech โ€“ the growth of different subsectors, the size of organizations participating, the geographic location of fintech companies attracting investment and increasing levels of activity from companies outside of the traditional finance services industry.โ€So how have these trends played in recent figures, and what future developments should we watch out for?Are VC investors getting the jitters?2016 is seeing some major events that could disrupt investor confidence: the forthcoming US presidential election, the UK vote for Brexit, and worries about valuations along with challenging lending conditions. Will this reduce VC investment in fintech?Although global funding issued to VC-backed fintechs reduced significantly in Q2โ€™16 from $1.8bn to $1.3bn, the pace has now picked up again and investment is now on course to exceed 2015 levels. However, VC investors are concerned about the impact of current events. We may see reluctance to commit to investments in coming months, particularly in terms of mega-deals, as investors wait to see what develops.Some subsectors within fintech have seen particular interest, such as InsurTech and blockchain distributed ledger technologies. These were highly popular funding options in Q2โ€™16. Market confidence has been less buoyant in other sectors, partly due to news about problems at LendingClub and announcements of shutdowns, redundancies, and poor performance.What are the main trends in fintech right now?Before we discuss current movements in fintech VC funding, itโ€™s worth pausing to consider the main strands of activity in this sector. The definition of fintech is continuing to evolve, particularly as companies reach out to the underbanked in areas such as Asia.ย There is, of course, lending tech, whether through peer-to-peer platforms or underwriting. Fintechs are deploying machine learning and algorithms to speed up credit checking in this area. Equity crowdfunding is also doing well, as fintechs build platforms for individuals to contribute to company projects and proposals.Payments, billing and money transfer technologies are also big news.ย  Personal wealth management software is increasingly popular, as fintechs help people conduct their day-to-day finances and outgoings as well as assisting with longer-term asset management.Solutions for large financial organizations such as banks, hedge funds and mutual funds are also doing well. Fintechs are providing tools for anything from alternative trading systems to financial modelling and analysis software.Blockchain technology is maturing in the market, with many global banks and institutions focusing on proof-of-concept initiatives such as a $60m Circle Internet project looking at expansion into China.InsurTech is also showing success. Companies like AIA are driving change; for example, AIA is using wearable tech to help people become healthier, with rewards based on the resulting data.$1.3bn in 97 deals to VC-backed companies in Q2โ€™16In North America, deal activity reached a 5-quarter low in Q2โ€™16. There were 130 deals in Q1โ€™16, falling to 97 deals in Q2โ€™16; Q2โ€™16 was down 26% compared to Q2โ€™15.Despite this, corporate participation in North American fintech deals reached a quarterly high. Participation was up 23% between Q1 and Q2โ€™16, with corporates now being involved in 30% of all fintech deals. California took the lead in Q2โ€™16 fintech funding, beating contender New York by 200% that quarter.Early stage deals in North America reached a 5-quarter high in Q2โ€™16, with median early-stage deals reaching $4.6m that quarter, a 53% increase over Q1โ€™16.VC funding was hugely popular in 2015, with a plethora of emerging business models, revenue streams, products and services proving exciting for VC investors. Investment from alternative lenders also helped drive up private company valuations.This year, investors have been more cautious, opting for more established companies with proven technologies and business models. This could lead to a market shakeout, particularly in the lending space, as less stable online lenders fall by the wayside.Top deals in Q2โ€™16 VC investment activityThis quarter has seen some remarkable deals. The top deals were all series C: Affirm for $100m, Mobikwik for $50m and Remitly for $38.5m. The top countries for investment were the United States with 26 deals worth $251m; Germany with 5 deals worth $64.9m and the United Kingdom with 3 deals worth $42.4m.Insurance and fintech: friends or foes?There is a mixed relationship between insurance and fintech, with some insurance companies utilising fintechs to build solutions for customer service and delivering better value.In other areas, however, InsurTechs are seeking to compete with insurance companies. Small, nimble fintechs can help deliver tailored solutions while traditional companies struggle with issues like low consumer trust, IT legacy problems, low interest rates and reducing profitability.Combined with this, insurance customers also have greater expectations of more personalized, tailored service. In this environment, InsurTech is proving attractive for VC investors and corporates.Martin Blake, Subject Matter Expert in InsurTech at KPMG Australia, has noted that insurers have data challenges: โ€œMost insurers struggle to leverage existing data to deliver deeper insights. Fintech companies that have behavioral analytics capabilities can help these insurers gain a deeper understanding of behavioural trend and insights into individuals, allowing for the development and creation of much more customized solutions or fast-tracking customer service.โ€โ€‹-------------------------About Us Selby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries. Contact us to find out how Selby Jennings can help you.

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