Working in Information Technology

Business Sectors

Source: Target IT 2006, GTI Publishing

Author: Carolyne Phillips, Credit Suisse First Boston (CSFB).

IT and technology students don't always realise how significant a role technology plays within an investment bank, yet it's vital to all parts of our business. It enables us to interact with clients, facilitate trading activities, execute multi-billion dollar transactions, manage risks, gather the latest market information, maintain 24/7 operations and stay at the front of a fast-moving marketplace. It takes more than a couple of people on a support desk to develop and support technology for such activities.

Information technology departments within this industry provide all the IT services used by the many business areas: typically securities, investment banking/private equity, and finance, administration and operations. IT services cover all recognised IT disciplines, including R&D, engineering, infrastructure, applications development, maintenance and support. IT departments are typically organised into groups that work alongside, and maximise the potential of, each part of an investment bank. This typically includes a global approach to application development and technology infrastructure with a regional oversight to ensure that IT services meet the need of every location in which an investment bank operates.

Investment banks work with leading-edge technology but on an industrial scale and technologists see the immediate effect of their work in a very dynamic business sector.

New developments

Keep and eye on the Financial Times and on Bloomberg.com to see what's happening in the financial markets, and look out for new technology coming onto the market. Recent buzzwords include 'Sarbanes Oxley', which relates to regulatory issues; 'near shoring and offshoring' which relate to resourcing activities.

Skills required

Typically, investment banks seek IT candidates with a good academic background and a technology-related degree ( computer science, engineering, physics, maths etc). We look for enthusiastic, energetic people who are willing to learn but can also bring fresh ideas with them. Good communication and interpersonal skills, as well as team working and problem-solving abilities are essential.

Technically-minded students shouldn't be put off by not knowing about finance - technologists aren't recruited for their financial wizardry. However, technologists that ultimately do well are those that form strong relationships with their business clients and develop credibility by gaining relevant business knowledge.

Starting out

Some investment banks recruit graduates directly into specific IT roles, while others run rotational programmes where graduates experience working in different areas of technology. There is a whole range of entry level roles, where you can cut your teeth and gain experience. These can be in development, support, web development areas and infrastructure.

Although investment banks don't recruit entirely from internship programmes, they are a hugely important recruitment route. They are a safe way to get a taste for the work, gain valuable experience and see if you like the industry.

• You'll work in a dynamic and constantly changing environment which is exciting.
• Investment banks are global operators and you'll deal with people in different offices around the world which presents opportunities for development and travel.
• There is typically and work-hard, play-hard ethos and we have fun.

Worst

• The work is fast paced and can be quite pressurised - prevaricators won't perform well in this environment.
• The work is team-oriented so it's not a place for those who want to go it alone.

Don't bother if...

...you find change frustrating - you'll really struggle. Flexibility and the ability to accommodate change are essential.

Business Mathematics,

Software Engineering,

Information Systems,

Computer Studies,

Computer Forensics

Graduates from our custom designed Business Mathematics course have gone on to find employment in a number of fields in Investment Banking such as Operational Research, Financial Modelling, Forecasting, Mathematical Modelling and Statistics. Business Analysis skills are also a core aspects of our Information Systems and Computer Studies courses.