3 new roles for techies in the Banking, Financial services and Insurance sector

By Apeksha Kaushik, TimesJobs.com
The BFSI sector is projected to create up to two million jobs over the next decade, says an India Brand Equity Foundation report. Driven by the efforts of the Reserve Bank of India and the Government of India to integrate financial services into rural areas, demand is projected to grow across core and support functions.

Currently, nearly 12 per cent of the total demand in the sector is for IT/engineering professionals, reveals TimesJobs.com data. The demand for IT and related profiles is expected to go up further in the current year.

"This will be the year of niche skill hiring. We will see demand in niche hiring for both technology and non-technology roles across levels. Roles in analytics and mobile technologies will continue to be in demand," Roopa Kochhar, director-HR, JLT India, told TimesJobs.com.
Roles in demand

The demand for IT professionals has been growing since November 2014. It was among the top five functions in the last quarter of 2014 and accounted for an average 8 per cent share in jobs between Nov 2014 and Jan 2015, according to TimesJobs.com data.

Here are the top three sought-after tech roles in the banking sector in 2015:

1. Business/Systems Analysts: The role demands data systems analysis, data quality, data expertise, reviewing, analyzing and ensuring quality of data loads in database systems. The demand for the profile witnessed 6 per cent increase in the last six months.

Pay scale: Rs 3-4.8 lakh per annum for entry-level candidates

2. Database Administration (DBA): The job requires creating queries, index, statistics, execution plans and DB I/O performance tuning. Knowledge and ability to perform in all basic database management skills of database administration, physical structure, overall architecture and database analysis is essential. The demand for the profile witnessed a 4 per cent increase in the last six months.

Pay scale: Rs 2-5 lakh per annum for entry-level candidates

3. Mobile app developers: Experience in writing code using languages such as (and not limited to) COBOL, PL/1, Java, C, C++, C#, VB.Net, knowledge of iOS Human Interface Guideline, Android UI Design and Windows Phone Guidelines for smartphones and tablets is essential. The demand for the profile witnessed 3-4 per cent increase in the last six months.

Pay scale: Rs 2-4 lakh per annum for entry-level candidates

Overall, the BFSI sector has reported an average 6 per cent jump in talent demand in the past two months. It reported 8 per cent rise in January 2015.

Focus on technology upgradation and better financial access will drive the sector's growth, President Pranab Mukherjee said in his address to both houses of the Parliament in the Budget Session.

Mayur Satyavrat, senior vice-president and head-learning and organisation development, RBL Bank, said joining the BFSI sector at this moment was a good move considering the next decade will belong to banks.

"With the sector witnessing a consistent 15 per cent year-on-year growth and very low financial inclusion, it will be an ideal place for banking/finance aspirants," he told TimesJobs.com.