Derivatives processing remains a thriving sector within the financial world, with massive growth over the last few years. While you might think the available jobs in derivatives focus on financial professionals, opportunities also abound for tech candidates.
It provides a chance to work on the hot technologies typically used as part of the FinTech movement. For example, institutions engaged in the processing of derivative trades rely on data analytics for more efficient operations. As a result, they need talented and experienced IT professionals with expertise in analytics and finance. Let’s examine these opportunities, the required education and experience, as well as the typical salaries for these roles.
What IT Career Opportunities Are There For Data Analytics for Derivatives Processing?
Why Companies in Derivatives Processing leverage Data Analytics
When trading derivatives, financial institutions ultimately want to minimize their exposure to risk. Using predictive analytics helps them devise quantitative trading strategies aimed at lowering risk while increasing profit margins. Of course, this use-case for data analytics also applies to other types of securities throughout the financial world.
Additionally, derivatives processing consumes and generates a massive amount of data. The term Big Data definitely applies in this case. Analytics powered by AI and machine learning helps companies glean actionable nuggets of information within this data. While financial professionals leverage these analyses for their decision-making processes, they also need tech pros experienced in data analytics.
What Technology Skills are Required for Data Analytics in Derivatives?
Not surprisingly, experience with AI and machine learning remains an important requirement for data analytics positions in derivatives. Experience in training the machine learning models used in predictive analytics using AI-powered analytics for different types of securities is also important.
From a programming language standpoint, Python expertise also tends to be required by companies looking for talent. Obviously, experience in database design and SQL also needs to be on your résumé. When personalizing a résumé for these positions emphasize your relevant skills and experience for a successful job search.
Typical Salaries for Data Analytics Professionals in Derivatives
Data analysts working in derivatives enjoy lucrative salaries. While the average annual salary ranks slightly below the six-figure range at $95,570, expect higher earnings based on location. For example, data analysts in Boston enjoy an average salary of $121,813 per year. In short, working in data analytics provides a lucrative career opportunity for tech professionals with the right expertise.
Looking for a New Tech Job?
If you want to find a great new technology position, connect with the experienced recruiters at The CERES Group. As one of the top IT staffing agencies in Boston, we know the companies looking for exceptional candidates. Contact our team at your earliest convenience.
