Tech Career Derivatives Processing
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When considering potential FinTech IT career opportunities, one area you probably overlook involves derivatives processing.

In the financial world, derivatives effectively function as joint contracts, transferring any risk from the borrower to the lender. They generate value based on their specific derivative instrument, including fiscal product concepts like futures, swaps, and options. As with other sectors within the FinTech world, derivatives processing depends on a top-shelf technology infrastructure. Additionally, it’s another area where data and finding actionable information within that data – i.e. analytics – remains critical. Let’s examine a few intriguing career opportunities for IT professionals looking to transition into a professional life in FinTech.

What Career Opportunities Are There in Derivatives Processing?

Financial Institutions Need Software Engineers in Derivatives Processing

Not surprisingly, financial institutions engaged in derivatives processing need software engineers experienced in this area of finance. As companies scale their operations in the wake of the FinTech digital transformation, they want more talented developers. The ability to craft modern financial software solutions with seamless scalability and a strong security footprint is a must.

Hiring managers look for candidates with experience as a software engineer on applications supporting other types of financial processing. However, specific experience in derivatives processing helps differentiate the top applicants from the rest of the pack. Depending on the location and its cost of living, expect annual salaries in the six-figure range. This is the case even for entry-level roles in high COLA areas like Boston or New York City.

Typical skills for a derivatives processing software engineer role include Java, with experience in Core Java and Data Structures. Of course, other languages might be a requirement, depending on the company’s tech stack. Companies typically want database experience in both RDBMS and No-SQL databases (MongoDB, etc.). Experience with RESTful service development is another must, along with skills in UI frameworks like React or Angular.

Derivatives Processing Data/Business Analyst

Another common tech job role in derivatives processing involves working as a business analyst in data analytics. Once again, having tech experience in other FinTech back-end office functions qualifies you for this role. However, specific expertise in derivatives gives you a better chance at an offer.

Relevant technical experience includes strong SQL skills for analyzing and researching data. Exposure to reporting or BI or data visualization tools in this area, like Tableau Dashboards, is a plus. Expertise in training the machine learning models used in this area positions you as a top candidate.

Looking for a Career in Tech?

If you are interested in a tech career in derivatives processing, connect with the experts at The CERES Group. As one of the top IT staffing agencies in New England, we know the financial institutions looking for tech talent. Contact us at your earliest convenience!

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