The Banking and Financial Services market is ever-changing; as technology advances, firms are expected to keep up with the rate of progression in order to appeal to consumers. 

Over recent years, businesses have had to dramatically transform their operations to stay ahead of the competition – but what do these changes mean for you? Suzanne Feeney, Country Manager at Robert Walters, highlights the 4 key trends that will shape the market across the rest of 2022:

Increased focus on ESG (environment, social and governance) within the asset management and investment space

There has been a huge shift when it comes to businesses thinking more strategically about how they can support ESG frameworks. Many consumers are altering their behaviours, with an increase in desire to only do business with companies committed to ESG. In turn, green investments in this space have shot up; investors are now looking for products which support ESG or offer promise of a more sustainable and inclusive future. For candidates, there will be a much larger focus on hiring those with experience working on these initiatives, with some new roles being created with a sole ESG focus.  

This candidate-driven market will remain

Candidates are running today’s market, and this won’t be changing anytime soon. Salaries are increasing significantly because of this competitiveness, especially for those with skills in demand, and we’re expecting to see countless by-backs and counteroffers throughout 2022. The great thing for candidates is that decisions are being made far quicker; interviews are taking place earlier than before and offers are being made far sooner too, with improved feedback. It really is a great time for candidates in the space who are seeking new opportunities. 

Employers are also noticing candidate expectation for hybrid working and most firms are offering an improved flexibility than we saw pre-pandemic. We are however noticing that there is a lack of support when it comes to candidates working from overseas, even if the role is hybrid or remote. 

A strong emphasis on data-driven investments

There will be more demand for technical vs fundamental analysis. Python is currently the most in demand analytics tool in the market and candidates with this skill are highly sought after. Python is also now being encouraged within education and so many junior candidates that have recently graduated are pursuing this space. Gaining experience working with this tool is extremely valuable.  

A demand for knowledge of digital assets

As the Metaverse, an all-encompassing digital world, continues to grow, we’re beginning to see the impact on the world of financial services. With an ability to provide a virtual environment which allows people to buy and trade through Virtual and Augmented Reality, big names are already producing products for it. There are also exchanged ETF’s (Exchange-Traded Funds) that are currently tracking the companies that are contributing to the Metaverse community. There is therefore a large demand for candidates with knowledge in this area; fund administrators are trying to become comfortable with working with digital assets so having an ability to provide guidance on this will prove valuable in securing, or exceeding in, a role.

The number of payment firms accepting and processing crypto transactions is also steadily increasing. We’re going to see more demand for digital assets over the coming year, as we see a rise in the number of traditional firms building out these communities. 

Looking for your next move in banking and financial services and want to know what you should be expecting? Discover your earning potential across Ireland with the Robert Walters Salary Calculator.