Last year, CFTE released the Fintech Job Report, which analysed the 225 largest Fintech companies and 40,000 jobs to create awareness about the new jobs and skills needed in the Fintech ecosystem. The report has also been launched as a book on Amazon, published by Huy Nguyen Trieu and Tram Anh Nguyen, CFTE’s co-founders, with a vision of making this knowledge accessible to all. 

In the continuation of the report, which emphasises the job positions in Fintech, CFTE deepened and dived much more into the skills area. Since the outbreak of the Covid pandemic, we have gone through a difficult period, especially for the economy worldwide. This year, the energy crisis and high inflation issue slowed global economic growth amid more uncertainty. Therefore, developing various abilities in terms of hard and soft skills – but also the right mindset – is essential to become more resilient in the market.

In the Fintech industry – and more broadly in financial services-, the ongoing skills gap is further widening as it is an innovative area where employers’ needs constantly change. It is challenging for companies to find the best candidates with the necessary skill sets; it is also difficult for individuals who want to jump into Fintech roles to evaluate themselves. Accordingly, CFTE developed the SHIME framework to match the skills and job positions in this digitally-evolving financial sector. 

”We all know that skills in financial services today are different from a decade ago. It can be challenging for organisations, governments and individuals to identify the important skills, which is why we created the SHIME framework to support those who want to adapt to the new world of finance.”

Tram Anh Nguyen, CFTE Co-founder.

With the aim of effectively and efficiently identifying an ideal candidate in Fintech, the SHIME framework includes different capabilities in five aspects: soft skills, hard skills, industry knowledge, mindset and experience. While it is no doubt that hard skills such as programming and data analysis are essential in Fintech, soft skills and mindset are also the priority for companies to choose a suitable candidate. 

Although the framework helps, we want people to understand what skills they have acquired currently. To further develop the evaluation of skills in Fintech, we created the SHIME Fintech assessment, which is built on the elements of the SHIME framework. We aim to provide a thorough evaluation process for individuals to measure their knowledge, skills, and competencies in Fintech.

The skill assessment comprises two formats: peer review and multiple-choice questions. In terms of soft skills and mindset, a friend of the participant will answer a couple of questions to proceed with the assessment. While the hard skills will be tested depending on various roles in Fintech, the industry knowledge is assessed through different questions, from general trends to regulations.

All of the information will be announced at the Singapore Fintech Festival, and CFTE will hold a roundtable about ‘Addressing the new skills gap in financial services’ to push the thinking further around these questions.

Fintech has already started significantly impacting financial services, which accelerated further due to the Covid-19 pandemic. As an industry, Fintech is likely to continue developing rapidly and evolve into a dominant employer in the global job market.

The SHIME framework helps job seekers know what makes them the right fit to fully identify and analyse their skills in different dimensions. And the Fintech skill assessment enables the industry to test the suitability of the employees’ capabilities in various aspects. Combined with both, individuals will have a better understanding of what skills they have and what other skills they need to develop or acquire. 

Discover more about the SHIME framework along with the skills assessment here. Come to meet us at the Singapore Fintech Festival and link to the roundtable discussion! We look forward to sharing more information with you.

About CFTE

The Centre for Finance, Technology & Entrepreneurship (CFTE) is a global education platform that aims to equip financial professionals and organisations with the necessary skills to remain competitive in a rapidly changing industry. With offices in London, Singapore, Hong Kong and Abu Dhabi, CFTE partners with Fortune 500 companies to build their knowledge in Financial Technology, whilst simultaneously supporting their digital transformation process. Our leading training programmes, curated by global industry experts, help talent build skills to join the digital transformation of finance.

Contact

Press: press@cfte.education

Partners: partners@cfte.educationPoint of contact – Paul Putscher, Marketing Lead (paul@cfte.education)

The post “Being digital-resilient” CFTE releases the SHIME Skills framework for Fintech and financial services appeared first on CFTE.

For companies facing a digital skills gap, it’s no longer a question of “why” they should invest in continuous up- and re-skilling of their workforces, but “how”. Providing there is also backing from Governments and regulators, companies which are implementing continuous learning processes are the ones most likely to
remain resilient despite economic headwinds.n the past few months, the pandemic has accelerated the digital transformation of all industries, and, in particular, finance. 

The financial services industry has undergone a transformation over the past decade, with new “platform” business models and technologies such as Al and Blockchain dramatically changing workforce needs. To put it into context, Fintech companies, which represented a negligible number of jobs 10 years ago, now employ more than 300,000 people, the same as the number of total finance professionals in a global hub such as London.

This pace of change has created a real gap across industry knowledge and mindset for a very large part of the financial services workforce. While a decade ago the industry would have expected Excel as a core skill, understanding Machine Learning has become a core skill for the present day – one which very few possess.

Southeast Asia is a vast region with a large, urbanising, yet underbanked population – cash has been a dominant feature of everyday life. While dramatic increase in SEA digital financial services is anticipated to grow the sector to US$38bn in 2025, there are several specific challenges, which the region is facing.

The Southeast Asian economy is significantly driven by small and medium enterprises (SMEs), accounting for nearly two thirds of the workforce. But while there’s exciting growth opportunities, the current workforce in SEA cannot fulfil the level of digital transformation required in the market for several reasons.
Firstly, informal workers, which account for a large portion of the Southeast Asian workforce, do not have access to upskill themselves and absorb the latest knowledge in this ever changing industry. In some countries, the lack of government support also enlarges the workforce gap in the financial market. With the lack of incentives, some companies do not have enough funds to invest in human capital. However, it is important to highlight that countries like Singapore are doing a lot to upskill their workforce.

In the case of financial institutions, we also observe affecting factors such as outdated corporate culture, the number of companies struggling to keep pace with customer expectations, and how many are having significant difficulty adapting to hybrid working models and the needs of a distributed workforce. The latter point is coupled with the fact that many SEA financial institutions are still in the incremental stage of tech transformation and are less advanced in their transformation journey compared to their counterparts globally. So what can be done? For one, governments and regulators can lead the line in creating programmes aligned with the required skills of the workforce. We believe adult education, retraining, upskilling and reskilling should be at the centre of the conversation. Through these approaches, individuals can enhance their adaptability to the digital era and fast-changing industry.

But before that, current workforces must be analysed and the required new skills identified before this upskilling of workforces and companies can commence. This is where I would like to emphasise the importance of the role of governments, who have the responsibility and resources to ensure their citizens are prepared for the future of work. This could be done via government subsidies for workers to enrol in online courses provided by third parties, thus making upskilling both more affordable and attractive to its workforce. Another format could be to co-create programmes between third parties and governmental training arms. The government’s participation ensures the resulting upskilling programmes are needed within a particular workforce, while also being familiar with regulation and policy considerations.

Lastly, individual companies must do their equal part and invest in talent development. In the case of Fintech, the companies attracting the best talent are those clear on job descriptions, mission/purpose, have a fast recruitment cycle, retain employees through a focus on innovation and allow top performers opportunities to build up their skills portfolio. Such an approach is garnering so much success that traditional financial institutions are employing the same structure and job roles found in Fintech when recruiting. For companies facing a digital skills gap, it’s no longer a question of “why” they should invest in continuous up- and re-skilling of their workforces, but “how”. Providing there is also backing from Governments and regulators, companies which are implementing continuous learning processes are the ones most likely to remain resilient despite economic headwinds.

Tram Anh Nguyen, CFTE Co-Founder.

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Latest posts:

• AI Governance Is Not the Brake. It Is the Way Forward.
• UK Finance and CFTE Launch New Offering to Build AI Capability Across UK Financial Services
• Building the Human Infrastructure for the UK’s Agentic AI Economy
• Mythos Has Arrived: Why Financial Services Must Prepare for Exponential AI
• AI Governance in Finance: Why Responsible AI Is Now a Strategic Priority

The post Addressing the new skills gap in Southeast Asia financial services appeared first on CFTE.

In the past few months, the pandemic has accelerated the digital transformation of all industries, and, in particular, finance. 

Adapting to our digital world is now, therefore, more critical than ever, as we have seen things change swiftly. With millions now finding themselves with inadequate skills, it is our purpose at the CFTE, Centre for Finance, Technology and Entrepreneurship to help people and organisations upskill in order to make their next move.

Addressing the New Skills Gap in Financial Services. 

What are the types of programmes we should create? What policies are in place to address this reskilling mission? What are the skills you need to have? We’re facing a skills shortage we must address in Fintech and in the Future of the industry.  In a changing world that challenges governments, organisations and individuals, there is a widening skills gap for those who cannot adapt to the new digital world. Identifying the skills gap in financial services to develop digital-resilient and a future-enabled workforce is a priority for governments.

But how can governments, regulators and other policy-makers be at the core of this progress? 

At the same time that digitalisation is happening, the health crisis is morphing into a social one with unemployment rising fast. The risk of having a large part of a population out of work, and with outdated skills preventing them from finding a new job, is therefore real.

But, who should be part of the reconstruction of our post-pandemic workforce?

CFTE believes that a tripartite approach is required in this societal effort:

• Governments and regulators: the nation
• Financial institutions and industry bodies: the employer
• Employees and those looking for jobs: the person

We have been working with professionals at these 3 levels since we founded CFTE in 2017, and upskilled, ever since, more than 110,000+ professionals from major financial institutions, organizations and governments.

 We have seen our alumni make swift career moves after acquiring the right skills to succeed in finance, and we now see a more-urgent-than-ever need to upskill millions of people.

It’s no longer about the why but about the how to reskill

At CFTE, we have been extremely vocal for many many years already about the importance of upskilling and reskilling our workforce. Even before COVID-19, we spent a lot of time convincing people about the ever-lasting list of reasons to upskill. 

Today, it is no longer about the why – the reasons talk for themselves – but about the how to reskill and upskill.

But in case your why is blurry, let me show you the reasons why I believe we should start addressing the how now. A study from McKinsey about the skills gap, conducted during the pandemic in February 2020, shows that almost 50% of the workforce is experiencing a skill gap, with the rest of the workforce following through with this trend in the next 3 to 6 years. February was a month before the pandemic took its toll on the world’s workforce – can you imagine what the study would have concluded even just a month after?

Today, COVID-19 has totally changed the landscape. We are now experiencing work from home – something largely unprecedented and inconceivable a few years ago – and digitalising our businesses at speed record. This only makes the need to understand digital an imperative. That clearly shows that upskilling and reskilling is now mandatory.  

In the finance industry, where we upskill thousands of individuals on Fintech, the data is no better. 

Based on the Fintech Job Report, we saw a big gap between those who got the skills in digital and those who don’t. We analysed the jobs of these 225 Fintech unicorn companies.

We setup a totally new framework with a taxonomy of jobs in Fintech, unlike traditional financial services. This is something never done in the past. For Fintech startups, which are very young company, jobs have not been standardised yet.

For example, the Revolut team went from a handful of people to 3,000 in 6 years, but its organisation hugely depends on the specific way they grew their business.

Nevertheless, across all these companies, we found 14 main job families, which then include more than 100 job roles.

It is clear: Human investment is now the best investment we can make. But how?

How can I update my skills? The how as an individual 

How do I update my skills? How do I stay relevant? What is the best way for me to stay ahead?

Hundreds of questions like this might be piling in your mind and fogging your thinking. As I’ve mentioned, how you upskill right now is truly the question you should be asking yourself, and thus, finding the correct answer is of great importance.

As people tried to discover their how during lockdown, e-learning has seen a rise. In times of social distancing, online education seems like the best bet on yourself. More and more people have surfed the internet in the search of what will allow them to upskill and give them an edge in the job market forming post-pandemic. 

However, we all seem to prefer learning with a teacher in the same room we are in. On average, only 10% of people complete an online programme. But why? Apparent reasons are lack of quality of those online courses and an unstructured learning programme – dissuading learners from investing their much valued time into something not yielding results.

However, not everything is lost. E-learning has the capability to become your tool to upskill during these times, you just need to find the courses that are truly a learning experience.

This is what we do at CFTE on a daily basis. We spend hours and hours thinking of ways to interact with our learners, to make our learning better, more enjoyable and with excellent subject experts.

Our courses on Fintech are curated by top-notch industry experts and academics from leading organizations, start-ups and universities to bring the most relevant knowledge to our learners. We engage professionals committed to their upskilling with short videos and curated readings as well as fostered conversations so that their learning experience is what they expect for their time and effort. As of today, +60,000 professionals have trusted us with their upskilling.

How can I train thousands of employees at the same time? Upskilling for organizations

Organizations allocate less than 1% of their IT budget in preparing employees for digital. How will this add up with the digital transformation the current crisis is accelerating?

When we talk to financial institutions, we spend a lot of the time answering how to go about reskilling their employees – and the task is challenging. Our discussions are around: what are the skills needed? What’s the learning path people should take depending on their jobs? How do I segment my employees into groups? What kind of learning should we facilitate if we are in wealth management or trading or compliance, etc…?

At CFTE, we take responsibility for helping our corporate clients answer these questions and providing them with the tools they need to upskill their human capital. Until today, 36 major financial institutions in the world, like PayPal, OCBC Bank and UOB, have trusted CFTE to show them how to upskill their people in preparation for the digital revolution so present today. But corporations that fail to upskill their employees should keep wondering how they are going to prepare their people and their business for the new world that is coming.

How can we support millions of citizens? Reskilling our nations

If answering the question of how to upskill yourself as an individual or how to upskill your entire human capital in your organization is already hard enough – how do you go about supporting millions of citizens reskilling and upskilling?

Reskilling and upskilling our national workforce should be an ongoing task. We are quick to think we will have time to prepare our people for the future of work, but COVID-19 has accelerated everything. When people thought we had 6 years to plan our reskilling, we now only had a short amount of time, let’s not forget about the months to come. And the pressing question now is how to go about it.

At CFTE, we believe that governments and regulators play a critical role in upskilling and re-skilling millions, but that this is a challenging task because of 3 main reasons:

• Governments have traditionally focused on education for children, rather than systematic training for adults,
• The role of government – vs employer – is usually not well defined,
• The best practices in this area are not clearly defined. 

CFTE, with our objective of education at scale and experience of working with governments around the world, has the objective to accelerate new governmental initiatives. We have had the chance to be working closely with a few leading organisations and governments who share the same vision as we do at CFTE,  from the from the IBF, Institute of Banking and Finance in Singapore,  Abu Dhabi Global Market Academy, from Hong Kong’s Cyberport, Malaysia’s ABS, from Luxembourg Academy of Digital Finance Academy with LHOFT, Budapest (Budapest Institute of Banking) – where we helped upskill their people.

The time is now

All this time, there are questions we need to answer. Addressing the New Skills Gap in Financial Services. 

 What are the types of programmes we should create? What policies are in place to address this reskilling mission? What are the skills you need to have? We’re facing a skills shortage we must address in Fintech and in the Future of the industry.  In a changing world that challenges governments, organisations and individuals, there is a widening skills gap for those who cannot adapt to the new digital world. Identifying the skills gap in financial services to develop digital-resilient and a future-enabled workforce is a priority for governments.

But how can governments, regulators and other policy-makers be at the coreof this progress? 

The time couldn’t be more pressing than now. How we go about this challenge is what will mark our success in preparing the workforce of the future. 

At CFTE, we believe quality online education is the go-to way to succeed in this mission, we can prepare by understanding the new ways of working, the new environment – let’s be strategic about our upskilling options.

Tram Anh Nguyen, CFTE Co-Founder.

Upskill yourself and your organisation with CFTE

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Latest posts:

• AI Governance Is Not the Brake. It Is the Way Forward.
• UK Finance and CFTE Launch New Offering to Build AI Capability Across UK Financial Services
• Building the Human Infrastructure for the UK’s Agentic AI Economy
• Mythos Has Arrived: Why Financial Services Must Prepare for Exponential AI
• AI Governance in Finance: Why Responsible AI Is Now a Strategic Priority

The post The Time for Reskilling is Now: How to go about it in a post-pandemic world appeared first on CFTE.

London, 6th March 2022 – The Centre for Finance Technology and Entrepreneurship’s (CFTE) Fintech Job Report co-authored by Huy Nguyen Trieu and Tram Anh Nguyen, has now launched as a book on Amazon, with an aim to reach thousands of people. The book which analyses the 225 largest Fintech companies and 40,000 jobs, aims to create awareness about the new jobs and skills needed in Fintech within the wider ecosystem. The book has 36 experts and thought leaders who have supported the book’s launch. To help create a positive impact on society, all proceeds from the book aim to go to the Epic Foundation, an organisation supporting youth charities globally.

A major change in the fintech and financial services industry is the evolution of technology-driven tools needed to excel in various job functions. According to CFTE’s research in the Fintech Job Report, 80% of jobs in fintech are those found in technology companies making it a big challenge for those lacking the right skills and mindset to access these opportunities. 

About CFTE:

CFTE is a global knowledge platform in digital finance that aims to liberalise education by making learning about the biggest technologies and trends in finance accessible to anyone. We help people build skills to transform their careers with courses that go beyond traditional learning. At CFTE you can learn from those steering the biggest developments in the financial sphere – from global CEOs to disruptive entrepreneurs hailing from Starling Bank, UBS, Mastercard, IBM and other large institutions. To help meet every learner’s goals, CFTE offers Specialisations to get certified in any area of digital finance as well as continuous learning material to stay on top of the latest trends in digital finance 365 days a year on THINK. From beginner to master, at CFTE there is something for everyone.

Contact details:

Press Contact: press@cfte.ecucation

Partnership Contact: partners@cfte.education

The post CFTE’s Fintech Job Report Book Edition Has Released: Unveiling 40,000 New Jobs in Fintech appeared first on CFTE.

London, Abu Dhabi, February 8th, 2022 – Access to high-quality education and skills in financial services and fintech has been enhanced in the United Arab Emirates through a joint initiative of the Abu Dhabi Global Market Academy (ADGMA) and the Centre for Finance, Technology and Entrepreneurship to offer scholarship to learners in the UAE. The scholarship programme aims to help students and professionals from diverse backgrounds to obtain quality education in topics that are shaping the financial technology industry today. 

The scholarships—half of which will be for women—will provide learners with free and unlimited access to CFTE’s e-learning platform, THINK, for courses in Open Banking, Payments, Blockchain, AI, Central Bank Digital Currencies, RegTech and more taught by industry experts from global institutions and disruptive startups.

The launch of the scholarship programme is part of the commitment of both ADGMA and CFTE to promote and support diverse capability development in fintech and financial services, and support the UAE National Agenda of 2021, which aims to position the UAE among the leading nations in ease of doing business, innovation, and research and development indicators. In this regard, the ADGMA and CFTE have a long-standing partnership to develop talent in the MENA region. CFTE collaborated with ADGMA to launch the AI in Finance Programme in 2019 and both organizations have worked closely together since to deliver other educational programmes in the region through courses and events.

Huy Nguyen Trieu, CFTE’s Co-founder, signed a partnership with ADGMA in at Fintech Abu Dhabi 2019

“As the UAE leads in the area of financial services and technology in the MENA region, the ADGMA understands the need to transform the delivery of education and skill development and help the region become future-ready as financial leaders with an important role to play in the global economy. That means working with the best organizations such as the CFTE to enable access to world-class best practices and skills in cutting-edge technology across a wider group of people with diverse backgrounds so that the MENA region has the talent relevant for financial industry,”

Hamad Sayah Al Mazrouei, Managing Director of ADGM Academy

A major change in the fintech and financial services industry is the evolution of technology-driven tools needed to excel in various job functions. According to CFTE’s research in the Fintech Job Report, 80% of jobs in fintech are those found in technology companies making it a big challenge for those lacking the right skills and mindset to access these opportunities. 

“At CFTE, we believe in levelling the playing field by making quality education in fintech accessible to people from different regions and backgrounds. Making the industry more accessible to women is also a big part of CFTE’s mission. In this regard, CFTE has supported several initiatives to help people benefit from fintech education across countries – from the United Kingdom, Budapest, Luxembourg, Singapore, Malaysia, Hong Kong and the UAE, and is continuing to push to make a bigger impact. We are hopeful that the initiative enables more women to accelerate their career in financial services by providing highly-relevant content and education in the industry to build new skills”

Tram Anh Nguyen, CFTE’s Co-founder

The ADGMA training programmes emphasise technology-driven tools and techniques that are crucial for the future of the Emirate of Abu Dhabi. Their training programmes also aim to help achieve government excellence for the Emirate of Abu Dhabi and will facilitate the UAE’s objective of transitioning into a competitive, knowledge-based economy.

About ADGM Academy:

Delivering world-class financial education and literacy, ADGM Academy will help to position Abu Dhabi as a leading global financial centre. This will be achieved through worldwide recognised educational and experiential programmes on a range of topics and qualifications in banking, finance, leadership, entrepreneurship, technical and soft skills.

About CFTE:

CFTE is a global knowledge platform in digital finance that aims to liberalise education by making learning about the biggest technologies and trends in finance accessible to anyone. We help people build skills to transform their careers with courses that go beyond traditional learning. At CFTE you can learn from those steering the biggest developments in the financial sphere – from global CEOs to disruptive entrepreneurs hailing from Starling Bank, UBS, Mastercard, IBM and other large institutions. To help meet every learner’s goals, CFTE offers Specialisations to get certified in any area of digital finance as well as continuous learning material to stay on top of the latest trends in digital finance 365 days a year on THINK. From beginner to master, at CFTE there is something for everyone.

Contact details:

Press Contact: press@cfte.ecucation

Partnership Contact: partners@cfte.education

The post ADGMA and CFTE jointly launch scholarships for learners from diverse backgrounds to develop fintech-based skills appeared first on CFTE.

What are Core Business Finance roles in Fintech?

The Core Business Finance section encompasses jobs that can be typically found in traditional financial institutions. These roles are directly involved in the core activities of the Fintech company. This is a broad category, and the types of roles vary based on the type of the organisation and their specific operations (insurance, payments, banking, wealth management…). The pay scale for these roles ranges from $52k – $169,000 per year.

To learn more on the how to thrive in Core Business Finance roles in Fintech, read more at Fintech Job Report.

Top skills to to work in Core Business Finance roles in 2022

Core Business Finance roles in Fintech require one to be equipped in:

1. Hard skills such as data analysis and financial knowledge.
2. Soft skills such as customer service and communication skills.
3. Mindset such as customer-centricity and analytical thinking.
4. Industry knowledge such as background in Finance, Accounting, Statistics or equivalent.

Is work experience needed to work in Core Business Finance roles?

On average, these are not many entry level positions and they require some experience in the same comparable role. Graduate roles and internships are very rare as at least 2 years of experience in the same or comparable role is necessary.

How to become a Core Business Finance ideal candidate in Fintech?

Certifications: Individuals working in core business finance roles may have bachelor’s degree in finance, accounting, economics, mathematics, business or an equivalent course is a common prerequisite.

Experience: These roles require at least 2 years + of experience. Core business finance position are quite rare in Fintech, there are definitely more opportunities of this nature in traditional financial institutions, both when it comes to more junior and senior positions. A successful candidate will have to showcase a strong passion and interest in Fintech and the specific sector in which
that organisation operates.

Skills: The right soft skills and mindsets play a role in securing positions at Fintech companies but also building your career as a core business finance roles.

Top Core Business Finance roles in Fintech

Credit analyst

The role of a credit analyst is rarely an entry-level position and requires some previous professional experience in the same or equivalent job. This is a highly analytical position and proficiency in Microsoft Excel is a minimum requirement.

Portfolio analyst

This is a position that usually requires previous experience in asset management or an equivalent role. Due to the nature of the job, a portfolio analyst should have a strong financial and data analysis skills, as well as a strong understanding of economics and market trends.

Underwriter

In Fintech companies, this is typically not an entry-level position, as 1-2 years of professional experience is required. Underwriting is a highly quantitative role, so being able to demonstrate strong mathematical and statistical skills is important.

Fraud analyst

This is a customer-facing role that can mostly be found in Paytech companies. A fraud analyst focuses on reviewing transactions, identifying any fraudulent activities and implementing processes that mitigate these events based on pre-identified patterns of risk.

Treasury analyst

Treasury analysts oversee cash management, funding, foreign exchange or financial management activities of their organisation. This is a highly quantitative role which revolves around analysing and interpreting financial data, forecasts, preparing and presenting reports and developing cash and asset management strategies. Specifically when it comes to Fintech companies, this role is the most relevant to challenger banks.

Claims Specialist

Depending on the seniority of the position, prior claims or general insurance experience might be required. For more senior and advanced positions a bachelor’s degree may be required, although, typically only a high school diploma or equivalent is sufficient. Strong verbal communication and investigative skills are also common must-haves. Finally, proficiency with the Microsoft Office Suite and overall PC literacy are highly desirable

Actuary

Typically, a higher-level education in a quantitative discipline is necessary. Being an associate or in the process of becoming an associate of IFoa or an equivalent actuarial organisation is a common requirement. This is a role that requires strong numerical and technical skills, so knowledge of R, Python, SQL as well as statistical modeling softwares are crucial.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Core business finance roles. Read more at Fintech Job Report.

The post Top skills to work in Core Business Finance roles in Fintech | 2023 appeared first on CFTE.

What are Risk & Compliance roles in Fintech?

The pay scale for the risk and compliance roles ranges from $73k-$173k per year. Individuals in these roles should have substantial experiences handling regulatory and legal issues related to Fintech and Financial Services. Additionally, having a strong foundation of legal knowledge and an understanding of regulatory frameworks, licensing and applications, compliance and enforcement matters or privacy and cybersecurity is crucial in making sure that risk is managed appropriately.

To learn more on the how to thrive in Risk & Compliance roles in Fintech, read more at Fintech Job Report.

Top skills to to work in Risk and Compliance roles in 2022

Risk and Compliance roles in Fintech require one to be equipped in:

1. Hard skills such as Finance operation and database operations.
2. Soft skills such as active listening skills and cross-functional collaboration.
3. Mindset such as proactive and forward thinker.
4. Industry knowledge such as experience in different regulatory frameworks both nationally and internationally

Is work experience needed to work in Risk and Compliance?

Risk & compliance roles typically require a bachelor’s degree in Law and about 5-15 years of experience for more senior positions. For entry level roles and internships, an ongoing bachelor’s degree is acceptable.

How to become a Risk and Compliance ideal candidate in Fintech?

Certifications: Individuals working in these roles are required to have bachelor’s/masters or PhD degree in relevant subjects.

Experience: Risk & compliance roles typically require a bachelor’s degree in Law and about 5-15 years of experience for more senior positions. For entry level roles and internships, an ongoing bachelor’s degree is acceptable.

Skills: The right soft skills and mindsets play a role in securing positions at Fintech companies but also building your career as a risk and compliance officer.

Top Risk and Compliance roles in Fintech

Compliance Officer

Compared to pure Finance companies, a compliance analyst working in Fintech may work closely with the Engineering or Data department to implement automated compliance tools. Hence, an interest and passion for technology holds great importance.

Risk Intelligence Engineer

Previous relevant work experience includes working on large scalable database platforms as well as designing and implementing data models specifically for Fintech and Financial Services. Strong technical skills are a strict requirement, moreover good time management and organisational skills. This is typically not an entry level position.

Privacy & Compliance Engineer

This is not an entry level position and requires previous experience in software engineering that allowed for great exposures to a variety of programming languages. Passion for security, privacy and compliance or experience in highly regulated industries are often an advantage. The ability to understand Data Privacy regulations constitutes to an advantage.

Fraud Officer

In Fintech companies this is a crucial role to comply with regulations and avoid reputational damages for companies that are typically building up their reputation. In addition, in order to identify fraud efficiently basic coding skills are required to develop automated solutions.

AML Officer

An Anti-Money Laundering officer implements the company AML policy to ensure that the company is not exposed to criminal risk by inadvertently facilitating financial crime. This role, often required by law, is crucial for Fintech companies that often aim to hire experienced AML given that their core business might be easily used with bad intentions.

Financial Crime Officer

Financial Crime Officers identify, assess and mitigate financial crime risks. They assist in the development of mitigation solutions while collaborating with the Compliance officer, Legal Department and Product Management team. As for the Compliance officer, Financial Crime team heads often collaborate with external stakeholders such as Regulators of Government authorities. In Fintech companies this role often requires strong technical skills especially when it comes to databases or Data Analysis.

Cyber Fraud Investigator

Typically this role requires at least 3 years of relevant experience in the Information Security field, proficiency in data analysis and databases, knowledge of security frameworks, network infrastructure and AML regulations. Tech skills and the ability to communicate effectively at multiple levels are crucial skills for this role. Due to very frequent cyber-attacks, cyber fraud investigation is a role that helps protect the company reputation and credibility with external stakeholders.

Regulatory Policy Officer

Regulatory Policy Officers identify compliance obligations based on financial regulations. In certain circumstances, they liaise with external stakeholders such as regulators. Fintech companies often do not have the necessary know-how when it comes to the regulatory environment, hence this role is crucial to their success and competitiveness.

Technical Program Manager

A Technical Product Manager manages cross-functional product security projects while developing and improving Compliance Program documentation procedures. In Fintech companies, one of the roles a Technical Programme Manager holds is to reduce the Compliance burden for Engineers while partnering with cross-functional teams within Engineering, Risk And Compliance, Product and Finance.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Risk and Compliance roles. Read more at Fintech Job Report.

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What are Partnerships roles in Fintech?

This is a new role that has emerged in banks and Fintech companies. Individuals
holding these positions are in charge of helping with customer acquisition or the
delivery of a product or service. Typically, they are highly experienced in related roles
such as Sales, Marketing or Business Development.

The pay scale for Partnerships range from $52k to $117K per annum. Since this is a relatively new position, little to no formal training is required. Some companies may accept candidates with limited experiences for the more entry-level positions. When it comes to the more senior or managerial position, 2-10 years of experience is desirable. A bachelor’s degree in business administration or a similar field is sometimes a prerequisite.

To learn more on the how to thrive in Partnerships roles in Fintech, read more here.

Top skills to to work in Partnerships in 2022

Partnerships roles in Fintech require one to be equipped in:

1. Hard skills such as product/project management, sales, account management etc.
2. Soft skills such as analytical skills, cross-functional collaboration etc.
3. Mindset such as team player, proactivity etc.
4. Industry Knowledge such as sales, business development, account management etc.

Is work experience needed to work in Partnerships?

Experience in similar roles are quite important in Fintech or tech companies. Individuals holding these positions are in charge of helping with customer acquisition or the delivery of a product or service. Typically, they are highly experienced in related roles such as Sales, Marketing or Business Development. However, these alone are not enough as certifications in the specific roles are mostly sought after in job descriptions.

How to become an ideal Partnerships candidate in Fintech?

Certifications: Bachelor’s degree in business is advantageous.

Experience: Experience in similar roles across industry are quite sought after especially in marketing, project/product management, business development, sales, account management or similar roles which may require a candidate being aware of the company’s operations or the industry knowledge.

Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.

Top Partnerships roles in Fintech

Sales Partnerships

Previous relevant experience includes sales experience, in particular, within the partner sector. Great communication
skills are essential as well as the ability to clearly present the firm’s brand. In order to understand and sell the product of the Fintech company, some technical skills may be required. Regional languages constitute to a further advantage.

Strategic Partnerships

Previous relevant experience includes working for a Financial institution or a Network with a focus in the B2B market and other Fintech companies that have a focus on B2B. Crucial skills for this position include strong analytical skills, ability to handle complex deals that involve multiple parties as well as relationships/project management.

Marketing Partnerships

Relevant experience for this role includes Marketing Manager, Brand Partnership Manager and Business Development Strategist in Tech or Consulting, ideally in regulated industries. Deep understanding of the Fintech firms product is also a requirement while crucial skills for this role are communication, leadership and negotiation.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Partnerships roles. Read more here.

The post Top skills to work in Partnerships in Fintech | 2023 appeared first on CFTE.

What is Sales & Business development in Fintech?

The pay scale for IT & Operations range from $74k to $130K per annum. Qualifications for these roles include either professional experience in a similar role or a bachelor’s degree in a relevant field is sometimes required.

To learn more on the how to thrive in Sales & Business development roles in Fintech, read more here.

Top skills to to work in Sales & Business development in 2022

Product managers roles in Fintech require one to be equipped in:

1. Hard skills such as CRM, sales etc.
2. Soft skills such as communications skills and interpersonal skills, Cross-functional collaboration etc.
3. Mindset such as entrepreneurial mindset, proactive etc.
4. Industry Knowledge such as understanding of Fintech industry, experiences with B2B sales, B2C sales.

Is work experience needed to work in Sales & Business development?

Experience in similar roles are quite important as formal education is not a necessity. While Sales and Business Development roles are common in traditional banking sectors and technology companies, they play a vital role in Fintech companies, especially when it comes to those servicing niche markets.

How to become a Sales & Business development ideal candidate in Fintech?

Certifications: Undergraduate degrees are not compulsory for this role.

Experience: Experience in similar roles across industry are quite sought after especially in sales, marketing or business development.

Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.

Top Sales & Business development roles in Fintech

Enterprise sales

This is often not an entry level position, as some roles require 8 years or more of experience in a role selling complex enterprise software, technical infrastructure or a financial service. Experience in payments is also desirable and those
working in enterprise sales tend to have an extensive network in retail banking or automotive financing industries.

Business development

This is an entry level position as a minimum of 1-3 years of experience in Sales Development, Lead Generation or Sales is required. For Business Ops, more experience is required (3-4 years). Prerequisites include a Bachelor’s degree and a proven track record of exceeding high volume opportunity growth sales quotas in hyper-growth environments.

Sales Engineer

Typically, 3+ years experience in eCommerce, Fintech or in a payments industry is required and experience working in a technical or commercial client-facing role. Sales Engineers also collaborate with those working in Product, Sales, IT & Operations.

Partner sales

Prerequisites include analytical skills, partner sales experience, ability to work cross functionally, experience within a B2B Sales environment and knowledgeable about financial services / financial markets. A bachelor’s degree is sometimes required, however, having previous relevant experience in a professional environment tends to be the main priority for employers.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Sales & Business development roles. Read more here

The post Top skills to work in Sales & Business development in Fintech | 2023 appeared first on CFTE.

What is Marketing & Communications in Fintech?

The Marketing and Communications team are responsible for the activities that engage with the Fintech’s current and potential customers, building a strong relationship with them, as well as promoting the product to a wider audience. The nature of this role can vary greatly, from more creative tasks, such as copywriting, creating digital marketing campaigns and materials, to more analytical tasks, such as designing marketing automation flows or CRM integration.

The pay scale for Marketing & Communications range from $41k to $149K per annum. Qualifications for these roles include bachelor’s degree in a relevant field is sometimes required. Typically, previous extracurricular or professional experiences in a similar position is required.

To learn more on the how to thrive in product management roles in Fintech, read more here.

Top skills to to work in Marketing & Communications in 2022

Marketing & Communications roles in Fintech require one to be equipped in:

1. Hard skills such as Microsoft suite, marketing automation, web analytics etc.
2. Soft skills such as communications skills, Cross-functional collaboration etc.
3. Mindset such as customer centricity, attention to detail etc.
4. Industry Knowledge such as professional experience, understanding Fintech trends etc.

Is work experience needed to to work in Marketing & Communications?

Experience in similar roles are quite important in Fintech or tech companies. In Marketing & Communications roles are responsible for the activities that engage with the Fintech’s current and potential customers, building a strong relationship with them, as well as promoting the product to a wider audience. The nature of this role can vary greatly, from more creative tasks, such as copywriting, creating digital marketing campaigns and materials, to more analytical tasks, such as designing marketing automation flows or CRM integration. However, these alone are not enough as certifications in the specific roles are mostly sought after in job descriptions.

How to become a Marketing & Communications ideal candidate in Fintech?

Certifications: Undergraduate degree are sometimes required in sales, marketing or communications, however, professional experience is highly sought after.

Experience: Experience in similar roles across industry are quite sought after especially in technical experience of software may require a candidate being aware of the company’s operations or the industry knowledge.

Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.

Top Marketing & Communications roles in Fintech

Growth Marketer

This is typically not an entry-level position and requires previous professional experiences in a similar role. Growth marketing is a highly analytical and data-driven for this reason, methods such as A/B testing are also commonly used.

Communications

Prerequisites for this role will vary depending on seniority, however, having a relevant professional background is standard. For entry-level positions, these skills can be gained through extracurricular activities or projects. A bachelor’s degree in communications or journalism could be an asset during the application process, however, it usually isn’t a requirement.

Copywriter

Copywriting is seldom an entry-level position in FinTech, therefore, previous professional experience in the field is usually required. An interest in UX and UX-writing is also beneficial. A university degree is not a common requirement, however, degrees in essay-based degrees such as English or History might be an asset. Instead of academic qualifications, employers will typically ask for examples of previous work. Finally, knowledge and interest in Fintech is highly desirable

CRM

Typically, a minimum of 2-3 years experience of working with CRM & Marketing Automation is required as well as a BA degree. A bachelor’s degree in Information Technology, Business and Marketing or any other related fields is an advantage but fundamentally, a university degree is required regardless of the discipline.

Performance Marketing

Prerequisites for performance marketing include at least 3+ years of experience designing for marketing campaigns with a Bachelor’s degree or equivalent practical experience. Those in performance marketing have a strong understanding of analytics, testing and metrics, as well as a good knowledge of other markets.

Marketing Automation

Prerequisites for entry level positions include 3+ years experience working within CRM & Marketing Automation and
other analytical tools to ensure customer understanding and campaign results. For managerial roles, 5+ years of experience is usually required. A Bachelor’s degree with a focus in Marketing, Information Systems is desirable but any discipline is acceptable.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience or a bachelor’s degree. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Marketing & Communications roles. Read more here

The post Top skills to work in Marketing & Communications in Fintech | 2023 appeared first on CFTE.