With a surplus of technology talent on the market, banks are looking to add some valuable talent to their ranks. Alongside adding them to pre-existing teams, they’re also looking to staff entirely new ones. Here are some of the most interesting technology opportunities in finance as we go into 2023.
Voice recognition wanted at both Goldman and JPMorgan
Earlier last year, Amazon made a number of cuts to its Alexa team. Though priorities at the tech giant may have shifted slightly away from voice technology, banks are just getting started with it.
It’s not as exciting as working on an AI assistant, but Goldman Sachs is looking for voice technology experts to keep track of what employees are saying to each other. The firm is hiring a voice recording engineering lead in New York as part of its e-communication retention team. Once hired, this engineer will “lead a team of dedicated voice recording engineers” as the team works on the “design of proprietary control and surveillance applications used within the firm.”
JPMorgan wants voice technology talent too. It has a position for a “Senior Conversation AI Engineer.” While this listing doesn’t specify a team that the engineer would be leading, it offers applicants the opportunity to “engage with multiple new and ongoing research projects.”
JPMorgan wants technologists for its new private markets platform
Amidst volatility and low returns in public markets, private markets were the big growth area of 2022. Mercer is predicting that private market assets will continue expanding at a rate of 13% per annum to hit $12 trillion by 2025. But the growth story in private markets isn’t just about banking jobs – the growth is in technology jobs too.
JPMorgan announced in October that it was developing a platform, Capital Connect, to link start-up founders to private capital. There are signs that it’s now hiring for that business. – It’s looking for a product manger in New York on a base salary of up to $200k, for example. It describes the new venture as, “a high-profile and exciting new fintech business for the firm, with the goal of creating a market leading platform for private markets.”
Other fintechs in the private markets space include fintech ReachX, founded by former JPMorgan portfolio manager Rafael Lajeunesse and digital platforms expert Olivier Beau de Loménie. De Loménie tells us the fintech aims to “automate tasks that are more manual or time consuming. Contacting investors for a deal in an efficient way, broadcasting a deal to a list of investors and track what they’re doing with a deal.”
Digital Asset securities, a safer bet than Crypto?
Crypto may be less appealing than it was, but digital asset securities are wildly held to have a good future. Shawn Rutter, executive search consultant for recruitment firm Excelsior Search says jobs working with digital assets held on blockchains will continue to thrive. “Issuing shares on the blockchain and utility tokens that can be used on the blockchain for certain propositions” will become more prominent, predicts Rutter. Banks are paying attention.
Citi, who partnered with digital asset management fintech Metaco last June, is hiring a number of roles worldwide in that space for their institutional clients group (ICG).
Citi’s ICG digital assets team is recruiting senior roles such as head of platforms in New York and London and a digital asset technology lead just in New York. The latter can earn a salary of $246k per year.
There are a number of fintechs progressing in the digital asset securities space, such as Prometheum. Their COO Anoop Datta, former Goldman Sachs head of electronic trading, said “It’s going to be a while, given the regulatory structure of banks, until they get to the point where Prometheum is at right now.”
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