It might be hard to imagine that there are very many computer science jobs in finance, but the financial sector is actually one of the leading employers of skilled computer scientists with an advanced education in the field. This is due largely to a major change in the way that the financial industry handles investments and helps its portfolios perform in line with customer expectations.
Over the past two decades or so, the financial industry has moved away from investing as an instinct and instead has shifted to using advanced computer programs and analytical tools to make by-the-second trades based on stock performance, company news, new products, and broad economic indicators. It is perhaps the most sophisticated use of computers and information systems anywhere in the modern financial economy, and it continues to be built and maintained by computer scientists who work in the sector. So, what do these jobs look like and how do they shape consumer finance and investing?
Customer Application Programmers Constitute a Big Employment Base
One of the most popular jobs for computer scientists in the financial sector is that of the computer programmer and software developer. Using the extensive programming and development skills that they learned while pursuing both undergraduate and graduate degrees in this field, computer science experts listen to the need of their financial firm and create a custom application that can meet those needs with either a fully automated approach or on that’s semi-automated. These needs might include a customer-facing investment management portal, a financial advisor software solution that helps them create portfolios and manage trades, or an automated investing system that helps to maximize the value of the firm’s portfolios over time.
In addition to creating this software solution, computer science professionals will also be responsible for maintaining the system as it matures. This might mean making it compatible with more operating systems, or making sure that the software works with a new version of systems like Windows and Mac. They may also port the system to portable device platforms, troubleshoot bugs, and offer support services to a firm’s employees.
Strategizing for New Platforms and High-Tech Products
While the vast majority of computer science hires in the financial sector are geared toward programming and application maintenance, that’s not their only role in this industry. In fact, a growing number of midsize financial firms and hedge funds are looking to computer scientists more as advisors and strategists. Today’s consumers live in a world of online, point-and-click investing, and that means renewed competition for big firms and other institutions. Computer science experts can help them figure out desktop and mobile strategies that might woo those consumers, offer them unique benefits, and bring them back into the fold with a larger or more traditional firm.
Computer scientists may also help strategize when it comes to combating malware and information theft, hacking and broader systems exploits that could wreak havoc on investing procedures, consumer portfolios, or even the broader stock market. Their role here is as a security advisor and a problem-solver for financial firms, according to the website Experience.
Related Resource: Computer Science Jobs in Healthcare
Exciting Ways to Take Part in the Growing Financial Sector
Often though of as a profession only for those who work at major software firms, computer science is increasingly important in many other parts of the modern economy. The computer science jobs in finance today include advisory roles, security monitoring, programming, mobile development, and much more, and they have far-reaching implications for consumers, investors, and the software that drives portfolios to new heights.
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