Major investment banks conduct millions of transactions every day, across global financial markets. These can include commodities and exotic derivatives trades, major M&A (mergers and acquisitions) transactions, securitisation deals and many more. This is only possible because of the technology solutions provided by their IT organisations, from front-end sales and trading applications, quantitative analytics engines and risk-analysis systems to data warehousing, settlement and position-keeping systems. First and foremost, IT is a business enabler. Within an investment bank, the aim is to use technology in an optimal way to provide solutions to the business and enable it to move forward. The systems built must be user friendly, fast, flexible, as automated as possible and highly available.
In big investment banks the IT department will be a significant organisation in its own right, structured and managed as a business. This may include a centralised infrastructure division that owns the networks, hardware and major technical components. Application development teams will usually work closely with the business units they support (eg equities, investment management etc) while still being part of a global enterprise development group. Support functions are also a critical part of the business. Across the IT organisation positions may be internal or client facing, and many roles offer opportunities for travel.
Global markets are volatile creatures, new financial products are developed daily and investment flows change constantly. IT departments need to be able to respond in this dynamic environment: agility and innovation are key. Focus on keeping up to speed with how technology is being used to support and enable business, not just the technology itself. On the business side, it’s important to have a highlevel understanding of how capital markets operate and how trends impact on the way investment banks do business and use technology.
A technology-related degree can be an advantage but isn’t always essential, depending on the role. Most importantly you should demonstrate a keen interest in technology and a strong aptitude for working with it. Strong communication, teamworking and problem-solving skills are essential, along with the ability to adapt to working in an environment where business and technology are closely linked.
Most investment banks provide graduate training programmes to build on your existing technology skills and prepare you for your first role. In your second role, you might decide to specialise in one particular area or become a ‘generalist’ working across business areas. Responsibility and accountability come quickly in the investment banking world and within five years you could expect to be a senior developer, perhaps managing a small team.
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