IT in Investment Banking

Many IT and computing graduates find their calling in the banking world.

Once upon a time, typical career pathways that come to mind when talking about investment banking include positions such as analysts and associates before they go on to become vice presidents and directors – most of which will need a finance-related degree.

However, with the rise of digital applications and e-commerce platforms within the sector, many investment banks are rapidly expanding their technology team to cope with various functions – such as online trading activities and transactions, risk management, gathering of information, client interaction, as well as 24/7 operations – and thus making computing and technology graduates highly desirable in this industry.

Career overview

Depending on the bank’s needs and recruitment policies, graduates can be engaged directly into specific IT roles, where they are trained in the specific skills unique for the position; or rotational programmes with a chance to experience different positions and responsibilities in different areas of technology.

IT specialists are traditionally brought on board mainly to build and maintain the bank’s technology infrastructure – such as system troubleshooting, web development, R&D, engineering and application development, among other others – while also providing support to all financial divisions within the bank.

However, every now and then, they are called on to support colleagues from other regions, as well as ensure processes are achieved on a global level to meet the technological needs of every location the bank operates in.

Many banks also involve their technology teams in the product development and business part of the job due to the increase in electronic and digital products, so graduates may even find themselves working alongside traders and analysts.

Trends and developments

With banks riding the digital disruption and beginning to divide conventional assets and move on to Open Banking, banks are taking a close relook at longestablished services, seizing growth and focusing more on back-office support to “re-bundle” their services.

The cloud is another trend investment banks are hopping on, having quickly turned from simply evaluating benefits to effectively operating within it, and driving data quality and creativity as a consequence.

New IT infrastructure will be needed if banks decide to write their own programmes, and many graduates will have the opportunity to be on the forefront of this paradigm shift.

Pros and cons

IT and technology advancements

Working as an IT specialist in the investment banking sector can be immensely exciting, not just because of the dynamic and constantly changing environment, but also because of the rapid advances in technology.

However, graduates need to constantly update themselves with the latest IT knowledge to stay relevant.

Travel opportunities

With most investment banks being global operators, there is the chance to travel and work with people from different regions, offering plenty of learning opportunities and exposure.

Potentially stressful

The general working environment tends to be rather fast-paced and can be quite stressful, so an ability to perform under pressure is a must.

Skills required in IT in investment banking

• A basic understanding of the industry • Good interpersonal skills • Ability to work in a team • Problem-solving skills • Patience (as it is needed in the troubleshooting and maintenance processes) • An eye for detail