What are the top jobs in Banking, Finance and Insurance?
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WHAT ARE THE TOP JOBS IN BANKING, FINANCE AND INSURANCE?
Demand is soaring for specialist skills in the Banking, Financial Services and Insurance (BFSI) sector.
Our latest report, ‘The Workforce of the Future’ explores a vast, global 2024 dataset of job listings and candidate profiles to understand the most in-demand roles and top jobs in BFSI.
Organisations rely on so much more than just a competent Chief Financial Officer (CFO). We highlight key roles that are essential to current operations and critical for the future of the sector, to help you shape a smarter hiring strategy.
Additionally, we explore the emerging talent networks and locations with notable skills deficits. This information is invaluable for employers searching for business-critical talent, with clear next steps to help you get the best talent onboard, wherever they are in the world.
In the blog below, we will expand on each of the top jobs for the finance sector, as outlined in the report. Discover how Artificial Intelligence (AI) is impacting each role and what this means for the future of finance.
1. Client Lifecycle Management Specialist
Client lifecycle specialists ensure the ultimate client experience, from onboarding to offboarding - and are crucial for maintaining customer loyalty.
AI is transforming customer interactions by offering advanced analytics and personalised engagement strategies. AI tools can predict client needs, identify potential issues before they escalate, and automate routine communications. This allows specialists to focus on building deeper relationships.
Specialists who can blend traditional relationship management with AI-driven insights are in high demand.
2. Business Analyst
Business analysts play a key role in bridging the gap between IT and business objectives. Their expertise in analysing financial reports, processes and data helps organisations make more informed decisions.
AI is becoming an integral part of the analyst role. AI tools can process vast amounts of data faster and more accurately than more manual methods. Therefore, analysts can identify trends, forecast outcomes and optimise recommended investment strategies with greater precision.
As a result, business analysts who can leverage AI to enhance their work are particularly valuable.
3. Front Office Support
The front office is the centre of any financial institution. Front Office Support professionals are, therefore, the key to smooth operations.
AI can automate routine tasks such as data entry, transaction processing and routine customer inquiries. Embedding these automations will release time and enable professionals to refocus on the activities which still require a human touch – liaising with customers and navigating more complex challenges, for example.
The ability to integrate AI into daily tasks will soon be a baseline requirement for success in these positions. However, it’s worth considering that some workers may feel threatened by AI, given that large parts of their role could be subject to automation. In response, you should explore opportunities to upskill your workforce to empower them to work with, rather than against, emerging technologies.
4. Data and Documentation Specialist
The BFSI sector is driven by data. Data and Documentation Specialists are, therefore, essential for ensuring the accuracy and integrity of financial data.
Maintaining comprehensive records shapes the role of these specialists. AI-enhanced documentation and analysis tools are increasingly supporting this function. These tools can automate the collection, processing and analysis of large datasets. In turn, this reduces the potential for human error and increases efficiency.
The need for high quality data and its effective management is why this role deserves a place in the top 10 jobs in finance.
5. Payments and Processing Control
As digital transactions surge, the role of Payments and Processing Control professionals has expanded. These professionals ensure the security and efficiency of payment processes; however, the task has become increasingly complex.
AI-driven fraud detection systems are now essential tools in this field. These systems are capable of identifying suspicious activities in real-time and reducing the risk of fraud. Professionals in this field must navigate both traditional and AI-enhanced processing environments. This requirement applies to entry-level individuals as well as those with years of experience.
The ability to monitor and optimise transaction processes is a critical skill. This growing importance of AI proficiency is especially true as these systems continue to evolve.
6. Front Office Integration Manager
Front Office Integration Managers oversee the integration of new technologies and processes. Essentially, these managers ensure that all systems work smoothly together.
Trading, investment banking and client management are now seeing the introduction of AI tools – and these managers are crucial for leading transformation efforts. Integration managers must understand both the technical aspects of AI tools and the operational needs of the front office, bringing the two together to shape systems and processes that are theoretically sound, as well as entirely practical.
Managing technology-driven changes, troubleshooting integration issues and training staff on new technologies are key to successful digital transformations. This role is particularly important for any organisational mergers and acquisitions.
7. Remediation Specialist
Compliance and risk management remain top priorities in the finance industry. Remediation Specialists are responsible for addressing compliance issues and implementing corrective actions.
Regulatory environments are becoming more complex and AI-enhanced tools for risk assessment continue to emerge. These tools can analyse vast amounts of data to identify potential compliance issues, predict risks and suggest corrective actions. Therefore, companies value professionals with a deep understanding of traditional compliance methods and how this can be combined with emerging AI capabilities.
8. Integrated Middle Office Process Specialist
Next on the list for the top ten jobs in finance is an Integrated Middle Office Process specialist. These individuals work to streamline operations across departments.
With the rise of AI, these specialists must now focus on integrating tools. By doing so, Integrated Middle Office Process specialists enhance efficiency and accuracy as portfolio managers, financial planners and reporters. Specialists in this role must focus on how AI can optimise operations, reduce costs and improve decision-making processes.
9. Customer Service Specialist
Not all of the top jobs in banking require a degree in finance. Customer expectations in the financial sector are higher than ever – and customer service specialists are on the front lines of meeting these demands. AI is transforming customer service, providing tools that offer personalised experiences at scale. Chatbots, virtual assistants and predictive analytics can anticipate customer needs, resolve inquiries more quickly and provide increasingly tailored recommendations, as natural language processing technologies make significant progress.
Specialists who can use AI to enhance customer interactions will be crucial in maintaining client satisfaction and loyalty. They must also manage the balance between automated and human interaction. Doing so ensures that AI tools complement, rather than replace, the personal touch that customers expect.
10. Asset Transfer Specialist
Asset transfer specialists manage the movement of assets, particularly in investment banking and portfolio management. AI is beginning to automate and optimise these processes. AI tools can handle large, complex transactions with minimal human intervention, reducing the risk of errors and delays.
Specialists with a strong understanding of the technical and regulatory aspects of asset transfer are increasingly in demand. Asset transfer specialists must now focus on overseeing AI-driven processes, ensuring compliance with regulations and resolving any issues that arise during automated transfers.
The impact of AI on the future of finance
AI is not just a buzzword in the finance industry. This technology completely transforms how financial services providers deliver and manage services. AI is making its mark across all of the top jobs in banking, financial services, and insurance. Specifically, AI enhances the speed of customer service and reduces the risk of manual errors in data entry and evaluation.
However, this does not mean that people will be out of jobs. Forward-thinking finance professionals are still going to be critical, but roles will evolve to make way for the introduction of these automated systems and processes.
For professionals in the finance industry, staying ahead of the curve requires understanding traditional finance principles, but with the appetite and understanding to integrate AI tools into everyday processes.
Whether you’re a finance controller or entry-level advisor, interpreting AI-driven insights is an emerging – and increasingly critical – skill.
Want to learn more about how the BFSI industry is changing?
- Download our report ‘The Workforce of the Future: Navigating the Skills Disruption’.
- Read our local Accountancy & Finance Salary Guides.
- Or check the average salary for the top jobs in banking with the Hays Salary Checker.
And if you’re ready to talk about your talent strategy in the BFSI sector, get in touch with our team today.