The document provides an update on IT recruitment trends in the UK banking, insurance and asset management sectors for the first half of 2015. Key points include: - Active hiring of change managers, data specialists and technologists to support digital transformation initiatives and regulatory compliance. - Demand for skills in areas like digital banking, cloud solutions, cyber security, full stack development, UX design, and data science as clients look to innovate and improve customer experience. - Growth in areas like agile delivery, mobile banking, identity authentication, and data analytics as digital technologies continue to be adopted. Nearshoring to locations like Manchester and Edinburgh is also on the rise.

1. IT Recruitment Update - Year to Date 2015
> Banking
> Insurance
> Asset & Wealth Management
F
or Financial Services
Technology, 2015 so far has
been a year of two fortunes.
We continue to see active hiring
of Change Managers, Data
Specialists and Technologists
at all levels to fulfil the pressure
from regulators for reporting
and compliance. We are pleased
to see new investments being
made, cheered on by a wave of
advancing digital technologies,
the UK banking sector is
innovating at pace to improve
their services for customers. With
new competitors in the banking
market, established banks need
to capitalise on their brands
and infrastructure to offer a
sophisticated experience to their
end users.
Our major banking clients have
reacted by digitising their core
product sets, making services
easier to use for consumers. Its
evolution has moved from the
traditional online services and
sales, to mobile commerce, to
integrating ‘bricks and clicks’
services. The key is to improve
customer experience for different
segments of clients across
retail, business, corporate and
even private banking, though
at staggered phases. With this
in mind we are beginning to
see demands in senior Change
Managers and Project Managers
to build and implement new
business models.
The challenge at all levels
is to deliver with minimal
disruption whilst also satisfying
regulatory requirements. Digital
technologies must increase not
just with customers but also
with employees and suppliers.
In 2015, mobile functionalities
for payments grew in social
media. The proactive use of
Data has unlimited potential
and our banking clients are now
implementing an aggressive
Client Data strategy making use
of its new digital, cross device and
real time environment.
Our clients’ Digital strategy
also includes enabling the
automation of mundane and low
risk processes with the aim to
facilitate regulatory compliance
and more efficient workflows.
Banking in the Digital AgeUS Adult Mobile Banking
Users by Device ( millions )
Mobile phone Tablet
2015
2014
2013
July 2015
London | Edinburgh | Manchester | Reading
106 54.8
74.5 37.6
93.3 47.1
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2. What is in the frame for digitalisation
Cloud-based Solutions
Our clients have started to marry IT strategies with
pragmatic solutions. However the biggest area of
growth and hiring has been slow this year to date. My
clients told me that internal politics cause resistance
but they believe that it is only delaying the inevitable.
This is the real space to watch for the next 12 months.
We have seen some interesting new projects requiring
skills in :
–– Entity Framework Fluent API
–– Windows Azure Development
–– Application (ThinApp, XenApp, App-V)
–– Server (VMware, Hyper-V, XenServer)
–– Desktop (XenDesktop, View)
–– Network (SDN, VMware, NetScaler, Cisco)
–– Storage (NetApp, IBM, Compellent)
–– Mobile Device Management (BYOD policies, Data
Control, Self Service Portals)
Stay Focus in Cyber Security and Authentication
Malware and hackers have become an increasing
threat. In response, voice biometrics, fingerprints, iris
scans, and other authentication options will begin to
replace passwords as a means to verify a user’s identity
and simplify the online and mobile login process in
2015. The key will be to provide enhanced security
against hackers while improving the overall user
experience.
These are some of the necessary skills our clients have
been hiring for so far this year :
–– Cyber Security (Security Operations Centres,
Incident Response, Threat Analysis, Vulnerability
Assessments, Digital Forensic Computer Analysis,
Data Loss Prevention, Intrusion Detection Systems)
–– Network Security (Application Firewalls, Anti-Virus,
IDS-IPS, Anti Malware)
–– Disk Encryption (Sophos SafeGuard Enterprise,
Synamtec PGP)
The rise of the Full Stack Developers and
Integrators
Our clients in Banking, both the end users and
consultancies are increasingly asking for ‘Full Stack’
skills. I asked them if it is reasonable to expect
an individual to be expert in every facet of the
development stack. The Client explained that a Full
Stack Developer is someone with familiarity in each
layer, has a versatile approach and the ability to
integrate.
The technologies requested understandably are varied
and numerous. Here are some examples :
Mobile Development
–– iOS and Android native development
–– Hybrid Mobile Apps
–– Responsive Web Sites
–– Mobile Web Apps
Web Development
–– Web Apps, SPA (ASP.NET MVC, Backbone, Angular.
Js)
–– Web Server and Services (.NET, Node.Js)
–– HTML5, CSS2, PHP, Scala,Javascript (LESS,
Bootstrap, jQuery)
Database
–– SQL Server, MySQL, SQLite, MongoDB
SEO and Analytics
–– HTML DOM Optimisations, Open Tags, Sitemaps
–– Social Apps, Social Logins (Facebook, Twitter)
–– Affiliation API integration (Twitter, Amazon,
Instagram, Foursquare, YELP, Google, iTunes)
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3. The Hybrid Creative - Technical UX Analyst and
Designer
Focussing on user-centric design and customer
journeys should be compelling and highly
differentiated, combining personalisation, speed, and
ease of use for all processes, whether the customer is
applying and getting approved for a loan, or opening
and understanding how to make full use of an account,
or reconciling payments. To make this leap in the
delivery of customer journeys, banks are acting quickly
to acquire capabilities in user experience and user
interfaces.
To fulfil these leading edge requirements, banking
clients are breaking their traditional moulds and now
seeking talents from hi-tech, online retailers and social
media companies. In this creative world, new terms
are heard every week but here are some popular skills :
Analysis Methodologies
–– User Research, Personas HCI and Card Sorting
–– Information Architecture, Wireframes
–– Solutions Diagrams and Documentation
Design and Prototyping
–– Balsamiq Sketch, Omnigraffle, Omniplan, Marvel
App
–– Photoshop, Illustrator
–– Old Pens and Paper
Vacancy Per Team - Year to Date
Business Intelligence
Infrastructure and Support
BAPM DataApplication Development
20152014
Vacancy level comparison
YTD 2014 -2015
Jan Feb Mar Apr May Jun Jul
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4. Chief Digital Officer – engagement with the new
FinTech ecosystem?
An increasing number of Senior Technology Managers
in our banking clients are interested and actively
networking with Fintech. A lynchpin in this space, the
Chief Digital Officer will be responsible for strategy
and for looking at what small hi-tech companies, are
investing in.
As once upon a time OpenSource technology earned
its place in corporate applications development,
the new digital age will break down barriers which
traditionally surrounded Capital Markets and its
privileges to access data. In fact Fintech start-ups and
non-traditional providers have a clean slate and bright
blue sky in this space.
Data gets Bigger – the aggressive Data Scientist
Over the past 12 months, I have written about
investment banks in a race to recruit Data Scientists,
largely focussed in change initiatives regarding
regulatory, risk and compliance. Many of these
programmes are now maturing and in implementation
stage.
Over the last quarter, we have seen a change, a more
aggressive use of Data. Our clients have hired Data
Specialists for their newly evolved ‘Front Office’,
modelling side by side with the Quants, and they
will work on gaining business advantages from large
datasets for a better understanding of the slow
turnover markets. Big Data skills in demand within
banking are Hadoop, Cassandra and MongoDB. Data
Analytics continues to expand in 2015 requiring skills
in QlikView, Tableau and Spotfire, whilst Mobile BI
and Self Service BI become a necessity for pioneering
organisations.
In the new digital world of banking, there are many
opportunities to leverage data applying advanced
analytics for cross-selling and up-selling of targeted
offering, and going forward product design and pricing.
Our banking clients’ lab based architects are reviewing
real time ‘Mobile Tracking’ tools across channels and
devices, currently building a business case for their use.
ALSO ON THE MAP...
Seriously Agile Solutions Delivery
We saw one of our clients share up its offshore team
to embrace the new working methodology. In an
interview with an Agile evangelist, the person said that
Agile practices control costs as well as delivery time.
This is exactly what both technologists and business
want. Top down initiatives to affect Scrum, Kanban
and Lean process improvement are set to change
technology and operational compass across banking
groups in 2015 and onwards. Hirers compete for Agile
‘masters’ in all locations.
Autotrading for FX and Rates
eTrading and Autotrading will replace human
intervention. The huge fines levied against banks for
allegedly manipulating currency markets will only
accelerate this trend and FX and rates traders could
suffer more. In this low latency space, Java has a slight
edge over C#, though C# WPF/WCF remain a popular
choice for front ends.
Application Support and Testing
Application Support has remained a focussed and
essential vertical hire, especially within the third party
for eTrading and Front Office. FX is a hotspot, with
good demand for FIX, Murex, ION Marketview and
Equity Derivatives. It has also been a buoyant year for
Testers, as the entire DevOps and Developers in Test
models grow and evolve. This is set to continue as
banks looks to push software through the Testing / QA
/ UAT lifecycle into Production Support as quickly and
efficiently as possible.
Nearshoring
For the first half of 2015, nearshoring traced its upward
curve to become more prevalent. More financial
organisations are favouring geographical proximity,
speed to market, and lower costs (including travel
costs), fewer language barriers and cultural learning
curves as a more strategically beneficial option. So
far this year we see a 24% increase in Development,
Testing, Data Analytics and Support moving to other
UK locations compared to 2014. The Northern
Powerhouse - Edinburgh, Glasgow, Sheffield, Leeds
and Manchester - are all building reputations as
excellent education centres with top class talents. As
these talents progress and grow their careers, demand
in Change Project Managers and Business Analysts are
on the increase.
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5. Recent Successes
Retail Bank
Edinburgh
Digital Project
Manager
£50,000
Global Banking
Group
London
Data Dictionary
Specialist
£55,000
Investment Bank
London
Equity
Derivatives
C# Developer
£75,000
Retail Bank
London
UX Designer
£550pd
Global Bank
London
Trade Reporting
Project Manager
£105,000
US Investment
Bank
London
eTrading C#
Technical Lead
£120,000
Wholesale Bank
London
Digital
Transformation
Solutions
Designer
£61,000
UK Bank
Edinburgh
Data Sourcing
Business Analyst
£475pd
Global Bank
London
Big Data
Developer
£600pd
Retail Banking
Group
London
Digital Banking
Infrastructure
Project Manager
£750pd
UK Bank
London
Financial Crime
Business Analyst
£700pd
Online Bank
Manchester
Head of
Applications
Support
£75,000
UK Retail Bank
Manchester
Lead Business
Analyst
£400pd
Tier One US
Bank
London
Web Security
Consultant
£550pd
Leading Asset
Manager
Edinburgh
SQL Developer
£350pd
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