Reply to: Entry in Banking.. Finance..

[denver2k]

Are Derivatives still legal ?

I think it is still legal but FSA trying to curb speculative trading...

[AlfredJPruffock]

Hi,

There are so many software developer roles in London as listed on Jobserve which need banking, finance, derivatives knowledge..


Thanks,

Parry

Are Derivatives still legal ?

[aceboy]

Hi,

There are so many software developer roles in London as listed on Jobserve which need banking, finance, derivatives knowledge..

Are there any recognized courses or trainings available related to this functional knowledge which can enhance my chances of getting shortlisted for such roles??

Please advise..

Thanks,

Parry

Anyway.... here are a few options:

a) Work for a ISV that does city software, for example Trading technologies
b) work for a service provider, for example EDS
c) tap up some agencies.....
d) see if you know anyone who knows anyone...

Be warned, it is NOT a good sector to be in at the moment. rates are being cut, heads are being cut budgets are not yet finalised.....etc Then as the takeover / merger start taking effect the number of heads on the the street will increase

But I will wish you the best of luck

[BrilloPad]

I think it depends on the area / house. Market Connections (ECN's) always seemed to get it pretty bad. Back office batched based systems also seemed pretty grim.

Fair comment.

[aceboy]

Personally I have worked 07:00 to 16:00 Mon-Fri 99% of the time. Anyone who lets a bank get away with more needs to grow a pair.

HTH

I think it depends on the area / house. Market Connections (ECN's) always seemed to get it pretty bad. Back office batched based systems also seemed pretty grim.

[PM-Junkie]

Am I the only one who finds that intensely annoying. To me it says "I can't even be bothered to formulate a question. I just want to make it your problem instead of mine as easily as possible".

Except you have formulated a question, so go on then.

There aren't any recognised banking software courses, because (shock horror! -) banking IT isn't actually any different from normal IT. Yes industry knowledge helps, but that's the same with any industry. Best way in as a contractor is to be very good at your chosen technology (the high rates do attract the best - well, they used to), and then just wait for a project manager who isn't obsessed with requiring previous banking experience for no real reason.

Do read a few books though- the "Understand xxx in a day" series are good, and also something more substantial like John Hull. They like you to have made at least some effort.

I agree. It is helpful to be prepared for the mind-numbing stupidity, bureaucracy and empire building that goes on at banks....but these days it's the same everywhere.

[BrilloPad]

4. How will you cope with the 07:30 to 18:30 days week in week out, as well as the out of hours & weekends

Personally I have worked 07:00 to 16:00 Mon-Fri 99% of the time. Anyone who lets a bank get away with more needs to grow a pair.

HTH

[Clownio]

Am I the only one who finds that intensely annoying. To me it says "I can't even be bothered to formulate a question. I just want to make it your problem instead of mine as easily as possible".

Except you have formulated a question, so go on then.

There aren't any recognised banking software courses, because (shock horror! -) banking IT isn't actually any different from normal IT. Yes industry knowledge helps, but that's the same with any industry. Best way in as a contractor is to be very good at your chosen technology (the high rates do attract the best - well, they used to), and then just wait for a project manager who isn't obsessed with requiring previous banking experience for no real reason.

Do read a few books though- the "Understand xxx in a day" series are good, and also something more substantial like John Hull. They like you to have made at least some effort.

Couldn't agree more.........







Or less !

[thunderlizard]

Please advise.

Am I the only one who finds that intensely annoying. To me it says "I can't even be bothered to formulate a question. I just want to make it your problem instead of mine as easily as possible".

Except you have formulated a question, so go on then.

There aren't any recognised banking software courses, because (shock horror! -) banking IT isn't actually any different from normal IT. Yes industry knowledge helps, but that's the same with any industry. Best way in as a contractor is to be very good at your chosen technology (the high rates do attract the best - well, they used to), and then just wait for a project manager who isn't obsessed with requiring previous banking experience for no real reason.

Do read a few books though- the "Understand xxx in a day" series are good, and also something more substantial like John Hull. They like you to have made at least some effort.

[aceboy]

The knowledge can be picked up via a few books. But employers dont want the knowledge. They want the experience.

In particular :-
1. How will you cope with commuting?
2. Who will you cope with pointless inane projects?
3. How will you cope when a great hairy trader decides to tear you out a new arsehole?

4. How will you cope with the 07:30 to 18:30 days week in week out, as well as the out of hours & weekends

[denver2k]

The knowledge can be picked up via a few books. But employers dont want the knowledge. They want the experience.

In particular :-
1. How will you cope with commuting?
2. Who will you cope with pointless inane projects?
3. How will you cope when a great hairy trader decides to tear you out a new arsehole?

Yeah thats absoluetly true.

In my previous work, I worked with a brilliant contractor. He spent 3-4 months and did great analysis on our project which never went live. And then, 6-9 months on analysis of a new even bigger and massive trading system , which also got shelved , and then they showed him the way out.

Would have made good bucks though ....

[BrilloPad]

The knowledge can be picked up via a few books. But employers dont want the knowledge. They want the experience.

In particular :-
1. How will you cope with commuting?
2. Who will you cope with pointless inane projects?
3. How will you cope when a great hairy trader decides to tear you out a new arsehole?

[denver2k]

Hi,

There are so many software developer roles in London as listed on Jobserve which need banking, finance, derivatives knowledge..

Are there any recognized courses or trainings available related to this functional knowledge which can enhance my chances of getting shortlisted for such roles??

Please advise..

Thanks,

Parry

Sorry to be bit pessimistic, but unfortunately there are awful lot of people having domain experience and knowledge are on bench. Not only Contractors but experienced Permies are also warming bench these days. One of my mate got redundant in Jan from a hedge fund and had previously been working in UBS.

And all these jobs which you can see on job boards, i must say most of them are fake. And if few of them are not fake then 500CVs per job.

[ChimpMaster]

Apply for permie jobs in the sector and gain experience for a couple of years. That'll also give you some time to ride out the quiet period we're in.

[moorfield]

No.

Now there are too many ex-IB contractors on the bench chasing made up contracts.

You could try offering a starting rate of £100/day