Sunday, August 9, 2015

Within finance, technology outlives most job functions

Look at these job functions --

* Many analysts in finance need to learn data analytics software ....
* Risk managers depend on large risk systems...
* Quants need non-trivial coding skill...
* Everyone in finance needs Excel, databases, and ... financial data.
.... while the IT department faces no threat, except outsourcing. Why?

Surely ... Financial data volume is growing
Surely ... Automation reduces human error, enforces control -- operational risk...
Computer capabilities are improving
Financial data quality is improving
Computers are good at data processing, esp. repetitive, multi-step...
Financial info tech is important and valuable (no need to explain), not simple, requires talent, training, experience and a big team. Not really blue-collar.

Many techies point out the organizational inefficiencies and suggest there's no need for so many techies, but comparatively is there a need for so many analysts, or so many risk managers, or so many accountants or so many traders? Every role is dispensable! Global population is growing and getting better educated, so educated workforce must work.

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New York (Time Square), NY, United States
http://www.linkedin.com/in/tanbin