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 you’re interested in securing the very best financial technology talent or you’re a professional looking for FinTech jobs, the Selby Jennings financial technology team delivers exceptional talent to industry-leading clients and candidates.

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Benefits of working with Selby Jennings’ global FinTech team

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

Extensive knowledge: We have over 15 years of experience in the financial technology sector

An unrivaled portfolio of clients, both big and small

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

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

Financial Technology Jobs

Cyber Security Specialist - Shanghai

We have a current opportunity for a Cyber Security Specialist for a leading hedge fund on a permanent basis. The position will be based in Shanghai. For further information about this position please apply. Responsibilities - Develop and implement effective cyber security strategies to protect our client's IT systems and networks - Identify and assess potential security risks and vulnerabilities, and develop appropriate countermeasures - Monitor and analyse security logs and alerts to identify potential security breaches, and respond accordingly - Conduct regular security audits and penetration testing to ensure the ongoing effectiveness of our client's security measures - Provide guidance and support to other members of the Technology Team on cyber security best practices Required Experience: - 5-10 years of experience in a similar role - Hands-on experience with cyber security systems and tools - Experience working with external security vendors - preferably working with financial services industry - Good understanding of China information security regulations.

Negotiable
Shanghai
Apply

Senior Software Engineer

Essential Qualifications: Possess 5-7 years of professional experience in software engineering, with a specific emphasis on quantitative applications. Demonstrate expert proficiency in Python and Pandas, coupled with a high level of competence in related scientific libraries such as NumPy, SciPy, statsmodels, and scikit-learn. Showcase hands-on experience in developing mission-critical production systems, incorporating a deep understanding of best practices for testing, monitoring, and deployment. Exhibit proficiency on Linux platforms and a solid grasp of Git. Possess a working knowledge of one or more relevant database technologies, such as MS SQL, Postgres, or MongoDB. Illustrate a proven track record of working with large data sets, both structured and unstructured. Advantageous Skills: Bring experience in quantitative software development within a front-office setting, such as a hedge fund, proprietary trading firm, or investment bank. Show aptitude for mentoring junior team members and effectively managing projects. Display proficiency in building web applications using modern frameworks like React. Demonstrate familiarity with distributed computing technologies like Spark, Dask, Kubernetes, and Redis. Exhibit knowledge of modern data engineering practices, including data pipeline & ETL tools, distributed storage & processing, and data warehousing. Possess a strong understanding of financial markets and instruments. Have experience working with financial market data. Show proficiency in relevant mathematical domains, such as statistics and time-series analysis. Personal Attributes: Hold a strong academic record with a degree rich in mathematical and computing content (e.g., Computer Science, Mathematics, Engineering, or Physics). Demonstrate intellectual robustness with a keenly analytic approach to problem-solving. Be self-organized, showcasing the ability to manage time effectively across multiple projects and amidst competing business demands and priorities. Be dedicated to delivering value to the business, with an unwavering commitment to process improvement. Possess strong interpersonal skills, enabling you to establish and maintain close working relationships with quantitative researchers, portfolio managers, traders, and senior business professionals. Be a confident communicator, capable of articulating points concisely and positively dealing with conflicting views.

Negotiable
Boston
Apply

Lead Software Engineer

We're on the lookout for a visionary Principal Software Engineer to shape the future of capital markets infrastructure. This firm is experiencing remarkable growth, expanding our product lines and crafting the next generation of offerings to enhance our already thriving company. As a Principal Software Engineer, your responsibilities will include: Leveraging your proficiency in low-level programming to push the boundaries of high-performance computing and electronic trading. Offering essential guidance and hands-on expertise in designing, developing, and debugging C applications running on multi-core Linux systems, processing substantial volumes of high-throughput, low-latency network data. Playing a pivotal role in shaping our process and team culture, continuously refining how we construct products, not just what we build. Taking the lead in mentoring and guiding software engineers, fostering a culture of ongoing learning and collaboration. Directly collaborating with customers utilizing the products you help develop. Required Skills: MS/BS in Computer Science, Electrical Engineering, Computer Engineering, or a related field. 3-10 years of relevant work experience. Strong C programming skills. Expertise in Linux application development. Proven ability to navigate through complex engineering challenges and lead engineering teams to efficient and accurate solutions. Experience in defining test scenarios and cases to ensure the quality of team deliverables. Passion for crafting clean, simple, and elegant software. Proficiency in concurrency and multi-threaded architectures. Expertise in socket programming and TCP/IP. Familiarity with scripting languages such as Python and Shell. Desired Skills: Experience with C++ and Java. Knowledge of financial markets.

Negotiable
Boston
Apply

Lead Software Engineer

We're on the lookout for a visionary Principal Software Engineer to shape the future of capital markets infrastructure. This firm is experiencing remarkable growth, expanding our product lines and crafting the next generation of offerings to enhance our already thriving company. As a Principal Software Engineer, your responsibilities will include: Leveraging your proficiency in low-level programming to push the boundaries of high-performance computing and electronic trading. Offering essential guidance and hands-on expertise in designing, developing, and debugging C applications running on multi-core Linux systems, processing substantial volumes of high-throughput, low-latency network data. Playing a pivotal role in shaping our process and team culture, continuously refining how we construct products, not just what we build. Taking the lead in mentoring and guiding software engineers, fostering a culture of ongoing learning and collaboration. Directly collaborating with customers utilizing the products you help develop. Required Skills: MS/BS in Computer Science, Electrical Engineering, Computer Engineering, or a related field. 3-10 years of relevant work experience. Strong C programming skills. Expertise in Linux application development. Proven ability to navigate through complex engineering challenges and lead engineering teams to efficient and accurate solutions. Experience in defining test scenarios and cases to ensure the quality of team deliverables. Passion for crafting clean, simple, and elegant software. Proficiency in concurrency and multi-threaded architectures. Expertise in socket programming and TCP/IP. Familiarity with scripting languages such as Python and Shell. Desired Skills: Experience with C++ and Java. Knowledge of financial markets.

Negotiable
Boston
Apply

Lead Software Engineer

We're on the lookout for a visionary Principal Software Engineer to shape the future of capital markets infrastructure. This firm is experiencing remarkable growth, expanding our product lines and crafting the next generation of offerings to enhance our already thriving company. As a Principal Software Engineer, your responsibilities will include: Leveraging your proficiency in low-level programming to push the boundaries of high-performance computing and electronic trading. Offering essential guidance and hands-on expertise in designing, developing, and debugging C applications running on multi-core Linux systems, processing substantial volumes of high-throughput, low-latency network data. Playing a pivotal role in shaping our process and team culture, continuously refining how we construct products, not just what we build. Taking the lead in mentoring and guiding software engineers, fostering a culture of ongoing learning and collaboration. Directly collaborating with customers utilizing the products you help develop. Required Skills: MS/BS in Computer Science, Electrical Engineering, Computer Engineering, or a related field. 3-10 years of relevant work experience. Strong C programming skills. Expertise in Linux application development. Proven ability to navigate through complex engineering challenges and lead engineering teams to efficient and accurate solutions. Experience in defining test scenarios and cases to ensure the quality of team deliverables. Passion for crafting clean, simple, and elegant software. Proficiency in concurrency and multi-threaded architectures. Expertise in socket programming and TCP/IP. Familiarity with scripting languages such as Python and Shell. Desired Skills: Experience with C++ and Java. Knowledge of financial markets.

Negotiable
Boston
Apply

Data Engineer - Markit EDM

We have a current opportunity for a Data Engineer - Markit EDM on a permanent basis. The position will be based in Boston. For further information about this position please apply.

Negotiable
Boston
Apply

Data Engineer - Markit EDM

We have a current opportunity for a Data Engineer - Markit EDM on a permanent basis. The position will be based in Boston. For further information about this position please apply.

Negotiable
Boston
Apply

FPGA Design & Verification Engineer

We are seeking a motivated and skilled FPGA Design & Verification Engineer to join our dynamic team. In this role, you will play a crucial part in the design and verification of high-performance FPGA compute and networking systems used in electronic trading. Your primary responsibilities will include designing FPGA systems, developing testbenches, and executing verification plans to ensure the correctness and reliability of our designs. The ideal candidate will have 1-5 years of FPGA experience and a strong foundation in FPGA verification and design techniques. Key Responsibilities: Design and implement high-performance FPGA compute and networking systems for electronic trading applications. Develop and maintain FPGA designs optimized for synthesis and timing closure using Xilinx and/or Altera FPGAs. Create and execute comprehensive verification plans, employing advanced verification methodologies such as constrained random testbenches, functional coverage, assertions, formal methods, and UVM (Universal Verification Methodology). Utilize industry-standard simulation and design tools, including VCS and Vivado to validate FPGA designs. Apply in-depth knowledge of networking protocols (IP, TCP, UDP) to ensure seamless integration with existing electronic trading systems. Work with high-speed interfaces, including PCIe, Ethernet, and DDR, to meet performance and latency requirements. Collaborate with software engineers and other team members to integrate FPGA designs into the larger system. Leverage programming skills in C and Python to assist with debugging and integration tasks. Requirements: Bachelor's degree in Electrical Engineering, Computer Engineering, or a related field. 1-5 years of hands-on experience in FPGA design and verification. Proficiency in FPGA architecture and design techniques. Familiarity with Xilinx and/or Altera FPGAs and associated development tools. Experience with advanced verification methodologies and tools. Strong understanding of networking protocols (IP, TCP, UDP) and high-speed interfaces (PCIe, Ethernet, DDR). Programming skills in C and Python. Excellent problem-solving and debugging abilities. Strong communication and teamwork skills. If you are a proactive and talented FPGA engineer with a passion for optimizing electronic trading systems, we encourage you to apply. Join us in pushing the boundaries of FPGA technology to ensure our trading systems remain at the forefront of the industry.

Negotiable
Boston
Apply

FPGA Design & Verification Engineer

We are seeking a motivated and skilled FPGA Design & Verification Engineer to join our dynamic team. In this role, you will play a crucial part in the design and verification of high-performance FPGA compute and networking systems used in electronic trading. Your primary responsibilities will include designing FPGA systems, developing testbenches, and executing verification plans to ensure the correctness and reliability of our designs. The ideal candidate will have 1-5 years of FPGA experience and a strong foundation in FPGA verification and design techniques. Key Responsibilities: Design and implement high-performance FPGA compute and networking systems for electronic trading applications. Develop and maintain FPGA designs optimized for synthesis and timing closure using Xilinx and/or Altera FPGAs. Create and execute comprehensive verification plans, employing advanced verification methodologies such as constrained random testbenches, functional coverage, assertions, formal methods, and UVM (Universal Verification Methodology). Utilize industry-standard simulation and design tools, including VCS and Vivado to validate FPGA designs. Apply in-depth knowledge of networking protocols (IP, TCP, UDP) to ensure seamless integration with existing electronic trading systems. Work with high-speed interfaces, including PCIe, Ethernet, and DDR, to meet performance and latency requirements. Collaborate with software engineers and other team members to integrate FPGA designs into the larger system. Leverage programming skills in C and Python to assist with debugging and integration tasks. Requirements: Bachelor's degree in Electrical Engineering, Computer Engineering, or a related field. 1-5 years of hands-on experience in FPGA design and verification. Proficiency in FPGA architecture and design techniques. Familiarity with Xilinx and/or Altera FPGAs and associated development tools. Experience with advanced verification methodologies and tools. Strong understanding of networking protocols (IP, TCP, UDP) and high-speed interfaces (PCIe, Ethernet, DDR). Programming skills in C and Python. Excellent problem-solving and debugging abilities. Strong communication and teamwork skills. If you are a proactive and talented FPGA engineer with a passion for optimizing electronic trading systems, we encourage you to apply. Join us in pushing the boundaries of FPGA technology to ensure our trading systems remain at the forefront of the industry.

Negotiable
Boston
Apply

Senior Software Engineer

Essential Qualifications: Possess 5-7 years of professional experience in software engineering, with a specific emphasis on quantitative applications. Demonstrate expert proficiency in Python and Pandas, coupled with a high level of competence in related scientific libraries such as NumPy, SciPy, statsmodels, and scikit-learn. Showcase hands-on experience in developing mission-critical production systems, incorporating a deep understanding of best practices for testing, monitoring, and deployment. Exhibit proficiency on Linux platforms and a solid grasp of Git. Possess a working knowledge of one or more relevant database technologies, such as MS SQL, Postgres, or MongoDB. Illustrate a proven track record of working with large data sets, both structured and unstructured. Advantageous Skills: Bring experience in quantitative software development within a front-office setting, such as a hedge fund, proprietary trading firm, or investment bank. Show aptitude for mentoring junior team members and effectively managing projects. Display proficiency in building web applications using modern frameworks like React. Demonstrate familiarity with distributed computing technologies like Spark, Dask, Kubernetes, and Redis. Exhibit knowledge of modern data engineering practices, including data pipeline & ETL tools, distributed storage & processing, and data warehousing. Possess a strong understanding of financial markets and instruments. Have experience working with financial market data. Show proficiency in relevant mathematical domains, such as statistics and time-series analysis. Personal Attributes: Hold a strong academic record with a degree rich in mathematical and computing content (e.g., Computer Science, Mathematics, Engineering, or Physics). Demonstrate intellectual robustness with a keenly analytic approach to problem-solving. Be self-organized, showcasing the ability to manage time effectively across multiple projects and amidst competing business demands and priorities. Be dedicated to delivering value to the business, with an unwavering commitment to process improvement. Possess strong interpersonal skills, enabling you to establish and maintain close working relationships with quantitative researchers, portfolio managers, traders, and senior business professionals. Be a confident communicator, capable of articulating points concisely and positively dealing with conflicting views.

Negotiable
Boston
Apply

Senior Cloud Engineer

We are seeking a talented Senior Cloud Engineer to drive the evolution of our enterprise Cloud strategy, ensuring compliance with standards and best practices. Your core responsibilities include overseeing and enhancing the AWS architecture, facilitating application migration to the cloud, and championing the adoption of DevOps and Agile methodologies. Your expertise in designing and engineering cloud solutions will be instrumental in delivering successful IT projects. Additionally, you will actively contribute to continuous service improvement, implement automation through infrastructure as code, and guarantee the performance and capacity standards of infrastructure components. Qualifications: Bachelor's degree in computer science or a related field. Over 5 years of IT experience, with a minimum of 2 years dedicated to AWS (experience with Azure is advantageous). Robust proficiency in managing fundamental AWS services in a multi-account environment. Hands-on experience deploying and supporting both Windows and Linux environments. Proficient scripting skills in Bash, PowerShell, Python, or similar languages; familiarity with Golang is a plus. Familiarity with orchestration and configuration management tools (e.g., CloudFormation, Terraform, Ansible). Experience in Infrastructure code generation and templating using tools like Terragrunt. Knowledge of Policy as Code implementation using tools like Sentinel. Hands-on experience with build pipelines, workflows, and branching strategies (GitHub Actions, Azure DevOps, GitOps). Proficiency in observability tooling such as Datadog, ELK, Grafana, Prometheus, or equivalent. Exposure to DevOps practices, automation of software testing, delivery, and infrastructure changes. Expertise in containerization using Docker and container orchestration with Kubernetes. Strong understanding of global networking topologies and zero-trust firewalling practices. Passion for technology, a willingness to learn new skills, and the ability to advocate for cloud services. Self-motivated and self-directed with excellent problem analysis capabilities. Effective communication skills, both written and verbal, and strong interpersonal skills. Proven ability to work in a globally distributed team, managing multiple priorities and collaborating with cross-functional teams. A team-oriented individual who shares information, goals, opportunities, successes, and failures with the appropriate parties. If you are a proactive, detail-oriented, and experienced professional with a passion for technology, we invite you to join our globally distributed team and contribute to the success of our cloud initiatives.

Negotiable
Boston
Apply

Senior Cloud Engineer

We are seeking a talented Senior Cloud Engineer to drive the evolution of our enterprise Cloud strategy, ensuring compliance with standards and best practices. Your core responsibilities include overseeing and enhancing the AWS architecture, facilitating application migration to the cloud, and championing the adoption of DevOps and Agile methodologies. Your expertise in designing and engineering cloud solutions will be instrumental in delivering successful IT projects. Additionally, you will actively contribute to continuous service improvement, implement automation through infrastructure as code, and guarantee the performance and capacity standards of infrastructure components. Qualifications: Bachelor's degree in computer science or a related field. Over 5 years of IT experience, with a minimum of 2 years dedicated to AWS (experience with Azure is advantageous). Robust proficiency in managing fundamental AWS services in a multi-account environment. Hands-on experience deploying and supporting both Windows and Linux environments. Proficient scripting skills in Bash, PowerShell, Python, or similar languages; familiarity with Golang is a plus. Familiarity with orchestration and configuration management tools (e.g., CloudFormation, Terraform, Ansible). Experience in Infrastructure code generation and templating using tools like Terragrunt. Knowledge of Policy as Code implementation using tools like Sentinel. Hands-on experience with build pipelines, workflows, and branching strategies (GitHub Actions, Azure DevOps, GitOps). Proficiency in observability tooling such as Datadog, ELK, Grafana, Prometheus, or equivalent. Exposure to DevOps practices, automation of software testing, delivery, and infrastructure changes. Expertise in containerization using Docker and container orchestration with Kubernetes. Strong understanding of global networking topologies and zero-trust firewalling practices. Passion for technology, a willingness to learn new skills, and the ability to advocate for cloud services. Self-motivated and self-directed with excellent problem analysis capabilities. Effective communication skills, both written and verbal, and strong interpersonal skills. Proven ability to work in a globally distributed team, managing multiple priorities and collaborating with cross-functional teams. A team-oriented individual who shares information, goals, opportunities, successes, and failures with the appropriate parties. If you are a proactive, detail-oriented, and experienced professional with a passion for technology, we invite you to join our globally distributed team and contribute to the success of our cloud initiatives.

Negotiable
Boston
Apply

FinTech News & Insights

Financial Technology Salary Guide Europe 2023 Image
hiring advice

Financial Technology Salary Guide Europe 2023

​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 consultants’ 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 SideDon’t miss these essential insights - download your copy of the Selby Jennings Financial Technology Salary Guide Europe 2023 here:​

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Tomorrow's Fintech Image
financial-technology

Tomorrow's Fintech

​​As the fintech sector continues to experience significant growth, it’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 'Tomorrow’s Fintech' report by completing the form below:​​

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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 bonuses 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. ​Download your copy of the 'Bonus Season Breakdown' report by completing the form below:​

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Selby Jennings to Join Panel at AI & Emerging Technology for Finance Image
financial-technology

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

​We are delighted to announce thatJesse Skaff, Vice President – 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. 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. Skaff will participate in a panel called “Developing Talent and Increasing Diversity in the Industry”, which will explore some of the most pressing challenges faced by finance industry. Earlier this year, Selby Jennings’ 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.  “Diversity & 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,” Skaff states. Joining the “Developing Talent and Increasing Diversity in the Industry” 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. Registration for AI & Emerging Tech for Finance is now open. Enjoy an exclusive 15% discount for the event using the code “Selby15”. Click below to learn more and secure your ticket. --------------------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. Contact us 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
financial-technology

How Making the Right Fintech Sales Hire Impacts Your Bottom Line

​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 individual’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, it’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, “How 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 we’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.”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. Contact us to find out how Selby Jennings can help you.

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The fintech start-up culture in Boston Image
financial-technology

The fintech start-up culture in Boston

​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 Massachusetts’ 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 banking’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 – 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 Boston’s famous VC corridor.Fintech sector reached a value of $12.21 billion last year – 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 – McKinsey & Co and PwC ‘The Massachusetts Financial Services Sector: Talent and Technology – A 2024 Vision’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 ‘glass ceiling’ 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 – 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 candidate’s résumé.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 candidate’s own social conscience.Real-world perspectiveOne of Selby Jennings’ 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.“Further 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 haven’t been fully explored by technology companies.”This future growth also presents a major opportunity for innovation. “When 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.”One of the major challenges facing fintech start-ups in recent years has been global outreach, leading to an intensification of domestic competition. “Due 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,” concludes our client. “This presents tremendous opportunity for both existing and new players in the space.”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, contact Selby Jennings today.​-----------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. Contact us 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

​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 Field​According to a report by McKinsey, $23 billion of venture and growth equity was invested in fintech between 2011 and 2016.1 This trend looks set to continue, with the investment forecast predicting more growth in the near future.​For many fintech companies, younger, less-experienced candidates (those with five or less years’ 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.​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.​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.​Candidate Trends​Much of the talent who are looking to move to a start-up have 10-20 years’ 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.2​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.​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.​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 – provided they impact the growth of the business.​Areas of Growth and Decline​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.​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.​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 Trends​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.​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. Contact us 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

​Nostalgia for the 90’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 – technology that is robust, cohesive and that links the industry’s firms, systems and depository linkages. And for that, crystal clear communication is key.Rules and regulationsIt’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 – driven by technology – 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 -  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 – individuals who can work just as closely with revenue and the markets as they can with technology and systems.If you’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 – such as middle office – means we can deliver the expertise required to meet your requirements. Call the team today for more information.​------------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. Contact us 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

​​What’s happening in fintech? Ian Pollari, Global Co-Leader of Fintech at KMPG International and Partner at KPMG Australia, says: “We are seeing a continued diversification across many dimensions of fintech – 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.”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 Q2’16 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 Q2’16. 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, it’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. 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.  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 Q2’16In North America, deal activity reached a 5-quarter low in Q2’16. There were 130 deals in Q1’16, falling to 97 deals in Q2’16; Q2’16 was down 26% compared to Q2’15.Despite this, corporate participation in North American fintech deals reached a quarterly high. Participation was up 23% between Q1 and Q2’16, with corporates now being involved in 30% of all fintech deals. California took the lead in Q2’16 fintech funding, beating contender New York by 200% that quarter.Early stage deals in North America reached a 5-quarter high in Q2’16, with median early-stage deals reaching $4.6m that quarter, a 53% increase over Q1’16.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 Q2’16 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: “Most 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.”​-------------------------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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