3 Careers for the Future in Finance


Impacted by the digital revolution, the world of finance has changed dramatically in the last 20 years and is evolving faster than ever. The reduction of storage costs and the explosion of computing power have made possible financial applications that people only dreamed about. In this fast and complex environment, banks have a strategic need to recruit talented young people with skills that were not necessarily associated with finance in the past. Choosing to prepare some of tomorrow's key positions means that you will be searched by the largest banks when you enter the professional world after graduation.

Here are 3 career paths that will be essential for employment with tomorrow's banks:

Blockchain Specialist

Blockchain is the technology introduced by Bitcoin. It was originally designed as a decentralized digital currency. Blockchain's technology is essentially based on the fact that it allows for reliable, high-value transactions between multiple parties without resorting to a central authority. Potential applications for the banking sector are still uncertain. We could see it replacing the current money transfer system between local and global banking entities. The strengths of such a peer-to-peer system could also be used to disseminate, among financial institutions, details about each economic agent. This would allow a bank to know very quickly if a given customer can trust a particular customer, thus greatly reducing compliance. fresh.

One thing is certain, however, this technology will have a huge impact on the industry in the decades to come. Most major banks have invested in research on this technology. As Simon McNamara of RBS said, "I do not know what will succeed, what I'm sure of is that we will see blockchain and peer-to-peer solutions appear in our industry and we want to be close to this development. "Specialists Zaid Mahadin Specialist in Business Management Answers (1217) TAGNAME (TAGCOUNT Specialists)

Data Scientist

This one can be the most obvious. Banks are already recruiting data scientists and offering them some of the highest paying positions in the industry. However, it is only the beginning of the revolution. As the algorithms become more and more sophisticated, the mission of computers will slowly shift from applying a strategy to researching strategies by surfing a huge amount of data.

Data scientists will design systems that will explore huge databases containing all kinds of data; historical prices, news and even personal information about customers; This will reveal invisible correlations and unknown relationships between objects. He will then be able to put in place a strategy based on these new discoveries.

In the end, banks will have computers that will learn for themselves how to make money from a huge compilation of data. The contest will aim to get the best data and enter them into these computers. This will be the application of machine learning to finance.

A data scientist is a specialist in statistics who is also interested in computer science.

Financial Psychologist

The most experienced bankers will tell you, the short-term price movements are explained in part by human psychology. In order to improve their decision-making process, banks will have to take into account these human parameters. The technical analysis can be considered as a precursor of this discipline, its objective being to capture certain human behaviors by identifying a recurrent tendency of the historical prices.

However, more recently, academics have taken a more scientific approach to these issues and are generating increasing interest among bankers.

In the near future, banks will likely look for people who can apply psychology and sociology, among other techniques, to financial markets. These "financial psychologists" will have to be specialists in the human sciences and the economy.

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