What do jobseekers need to know about fintech recruitment?

IT Search’s David Shanahan discusses recruitment in fintech, the crucial skills jobseekers should prioritise and some recommended educational routes.

For David Shanahan, a director at Irish recruitment agency IT Search, which is a member of the Vertical Markets Group,  it is important for people not to boil everything down to “just working for a fintech start-up” when considering career opportunities in the finance space.

Shanahan told SiliconRepublic.com, “There are opportunities across banks, payments companies, insurance, investment and asset management, as well as newer fintech and regtech businesses.

“From a technology perspective, we’re seeing demand across software engineering, data and AI, cloud, cybersecurity, and infrastructure. There are also more specialist opportunities around payments, fraud, risk and data governance.”

He explained that increasing regulatory requirements – such as DORA, AML and the EU AI Act – are also driving specialist demand at the moment, resulting in the need for compliance professionals with skills crossing over into data, security and infrastructure.

Broad or specific skills?

Often with careers in the STEM space, particular skillsets and educational routes are critical to get where you want to be professionally. For Shanahan, this isn’t necessarily true of careers in fintech. Frequently, a broad skillset can open doors, whilst specialisation down the line can lead to progress. 

“I don’t think there is one particular route you need to follow to work in fintech. A good foundation in computer science, engineering, maths, statistics or another STEM discipline is a strong starting point,” he said. 

“From there, I would concentrate on developing expertise in a particular area. Data and AI, cybersecurity, cloud, software engineering, and data engineering are all areas where we continue to see demand.”

He added, “I also wouldn’t necessarily recommend going back and doing another full degree. Depending on where you are in your career, targeted training or certification combined with practical experience can be more useful.”

Pivoting from a wider IT role into fintech is also a possibility, finds Shanahan, especially for those with strong technical experience. 

“If you’re a software engineer, data engineer, cloud specialist or cybersecurity professional, those skills don’t suddenly change when you move into financial services. The main challenge is showing an employer that you understand the financial environment you’re moving into,” he explained. 

“I would look at the crossover with what you’re already doing. If you’ve worked on secure platforms, high-volume transactional systems, sensitive data, regulated environments or large-scale cloud infrastructure, for example, you may already have a lot of relevant experience.

“It’s really about positioning that experience correctly rather than approaching it as though you’re starting again in a completely new career.”

Contract queries

Unlike other sectors, where part-time work is more common, Shanahan noted contracts in this field are currently a mix of permanent employment and full-time opportunities. 

“One of the more interesting trends we’re seeing is the length of some of these contracts. We are working with international banks where contractors are being brought in on long-term programmes running over a number of years. For experienced technology professionals, that can make financial services contracting quite attractive. 

“You can get the flexibility and earning potential with contracting, but also potentially have the stability of working on a large, multi-year programme. I think it also tells us something about where the market is going. These organisations aren’t simply filling short-term gaps. They are committing significant investment to long-term programmes and need specialist skills to deliver them.”

Jobseekers are also having to navigate a landscape in which employers are more selective, compared to a few years ago when there was a “hiring at all costs” approach at the peak of the technology market, he noted. 

“Companies are generally being quite specific about the experience they need. Strong technical skills are obviously still important, but what we’re increasingly seeing is employers looking for people who understand the wider environment they’re working in.”

Standing out

For jobseekers looking to make themselves and their CVs more attractive to a finance-based company, Shanahan suggested making the items within it more obvious in their value.

“Don’t assume somebody reading your CV is going to work out why your experience is relevant to financial services. If you’ve worked with sensitive data, secure systems, high-volume transactions, cloud transformation, cybersecurity, governance or highly regulated environments, make that clear,” he said. 

“A good CV should showcase what you built or changed, what problem it solved and what the result was. Technology is important, but I want to see what you actually did with it. If you built a data platform, tell me what it was used for. If you worked on a cloud migration, give some indication of the scale. If you’ve introduced automation or AI, explain what changed as a result.”

But the best advice he has to offer is simply not to focus on the word ‘fintech’. As professional and industry expectations continue to merge, the line between technology and financial services has become blurred. 

“Banks and established financial institutions are significant technology employers themselves, while fintech companies need people across engineering, data, AI, cloud, security, product and infrastructure.

“My advice would be to concentrate on becoming very good in your particular area while also understanding the business you’re working in. In my experience, that combination tends to give people the strongest long-term career options.”

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