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