Financial Services
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Think Twice Before Turning Down a Banking Job
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If you're eager for a job in finance, now might not be the time to be picky.
Despite what you've heard about this being a job hunter's market (true enough), the banking industry may soon be tightening its hiring. eFinancialCareers editor Sarah Butcher advises, " Next time you receive an offer for a new banking job, even if it's not exactly the sort of thing you had in mind, you ...
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Will Machines Take Over Wall Street?
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"Machines are taking control of investing - not just the humdrum buying and selling of securities, but also the commanding heights of monitoring the economy and allocating capital."
That's how The Economist begins it's cover story on the increasingly important role of artificial intelligence in the world's financial markets. It's a sober examination of how machines have evolved from acting on orders set by traders to analyzing more social and ...
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Pay Is Banking's Biggest Recruiting Challenge
Read the rest of this entry »Banks are having a difficult time attracting and keeping younger workers, yet close to three-quarters of them have no strategy for recruiting them.
That's one of the key findings of this year's Bank Compensation and Benefits Survey from the accounting and consulting firm Crowe Global. Of the 778 financial institutions taking part in the survey, 56% admitted retaining younger workers was at least somewhat challenging. But only 14% said they ...
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Fintech's Jobs of the Future Are Already Here
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The fintech revolution is changing just about everything the banking industry does. Just as ATMs freed us from teller lines and made cash available at any hour, fintechs want to obsolete physical banks .themselves.
It's a long shot -- for now -- but among the impacts these online-only financial services are already having is disrupting traditional industry jobs, and creating (by one account anyway) jobs with futuristic titles like "sustainable wealth manager" ...
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Banks Betting Big On Fintechs
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Even as they're competing with the online banking fintechs, US banks are investing in other types of fintech startups.
Describing it as "future-proofing," CB Insights says the financial services sector is pouring billions into a diverse group of fintechs that include startups in wealth management, payments & settlement, real estate, lending and blockchain. So far this year, banks have participated in 24 fintech deals, says CB Insights, a pace ...
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Older Workers Are the Solution to Banking's Talent Shortage
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Employers' "obsession," as a MarketWatch article termed it, with hiring millennials and even younger digital natives is especially hurting the financial services industry, as the interest is unrequited.
A Deloitte Insights article says the financial institutions worldwide are facing two critical employment trends: "a pervasive talent gap and a boom in the number of baby boomers still employed or seeking employment in their workplaces."
Deloitte says the talent ...
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Alternatives Future Is In Digitalization and New Jobs
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New research from Willis Towers Watson suggests it will be technology that differentiates alternative assets fund managers in the future.
To be sure, there are other ingredients to asset manager success. A strong culture, the ability and the willingness to accept and deal with change and well-positioned business models are among the six attributes that the report -- The asset manager of tomorrow -- says are "critical requirements to asset manager success ...
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An Ideas Incubator Is Helping Insurers to Transform
Read the rest of this entry »When it comes to digitalization and transforming their business for the internet age, the insurance industry is “lagging a bit,” says Dennis Barnes. He heads RGAX, the innovation incubator of Reinsurance Group of America, one of the largest global reinsurance firms.
Speaking recently with Knowledge@Wharton, Barnes detailed the industry’s progress toward changing the way insurers are transforming themselves to meet the rapidly changing needs of customers and to ...
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Quants, Researchers Are the Most Satisfied
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Smile if you're a quant or a researcher. They're the two most rewarding jobs in finance.
That's the somewhat surprising result of a still ongoing survey by eFinancialCareers. Some other jobs in banking may pay better -- M&A and finance, for instance. But the intellectual stimulation of research more than makes up for any paycheck differences.
According to the survey, satisfaction by quants and researchers reached 6.5 and 6.6 ...
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The Who's Who and What's What In Business Insurance
Read the rest of this entry »For anyone in the business of business insurance or considering a career in the industry, Business Insurance is a valuable resource. The kaleidoscope of daily articles alone will keep you up-to-date on everything from cyber risks to workers' comp. But it's the resources and reports section where the site really stands out.
We're not shilling for the site, just letting you know as we do from time-to-time about a useful ...
