Although the worst of the crisis may be behind us, change remains a constant presence in the financial services industry. With ongoing regulation, increasingly demanding customers and a never-ending wave of new technologies, the industry has a fine balancing act to play between growing the top line with innovative products and services, while keeping an eye on costs. And while the consulting industry is still hiring – we’re seeing an evolution in the mix of skills needed. Skills we see in demand for 2014 include:
1.Digital and Consumer
Over the last few years, we’ve seen a surge of new technologies (mobile, social, digital) that are now beginning to transform the way banks do business — and how customers interact with their banks. Now, more than ever before, banks are seeing customer segmentation as a core consideration in their digital strategy. This involves looking at the distinct experiences of customers and prospects as well as differing expectations among various customer groups.
2. Finance, Risk and Compliance
Today’s multi-jurisdiction regulatory environment is driving profound change for leading financial institutions. Success in this new world of regulation means firms are in need of individuals with deep understanding of ever evolving regulatory requirements, as well as the skills to develop and deliver efficient, cost-effective strategies to better ensure organizational integrity and help protect shareholder value.
3. Architecture / IT Delivery
CIOs at large financial institutions are continually faced with meeting the demands of both business and regulatory agencies. As such, demand for quality IT architects and strategists is at an all-time high.
4. Change and Transformation
Change and transformation experts lead the way in helping financial institutions stay afloat in today’s competitive landscape. While transformation is not a new concept within the industry, more and more institutions recognize the need to redefine their business model to solve significant business issues, drive efficiencies and ultimately create new opportunities.
5. Business / Data Analysts
Business / Data Analysts assist in the implementation of strategies and integrated solutions, and help bridge the gap between user-functionality and system developers, and assist in documenting, evaluating, and translating business architectures and needs into IT applications.
In today’s rapidly changing regulatory environment, organizations will be looking for individuals who can quickly learn new subjects, as well as absorb new information and methodologies.
Editor’s Note: Capco is hiring. As of October, the firm had brought on roughly 500 people in 2013 across Europe and North America.
Tana M. Session is an associate director — North America Human Capital at Capco, a global business and technology consultancy dedicated solely to the financial services industry.