Want a job at a bank? Skip the business and economics classes and sign up for computer science.
Most people in the intersecting worlds of finance and technology understand that banks need to do a better job of organizing around technology needs and understanding how innovation can help streamline financial institutions. Brett King, CEO of Moven, argues that banks need to focus on hiring technology experts to fuel this innovation.
At the NextBank USA in Boston last week, King spoke to attendees about the future of banking and how disruption has taken down some major industries. King also discussed “the five best banking jobs in five years,” which are listed below:
- Data Scientist – King says that data scientists will be the most sought-after banking job in five years, since they will be tasked to figure out “when, why, and how” consumers use bank products, using statistics and big data provided from bank products.
- Storyteller (User Experience Designer) – A “storyteller” is actually a user experience designer, who will be tasked with understanding what products customers need and when they need them. They will also help make products available in a frictionless (and in terms of debt, and shame-free) way.
- Behavioral Psychologist – A behavioral psychologist will try to understand consumers (This sounds like a nightmare) and anticipate the relevancy of bank products for customers.
- Algorithmic Risk Specialist – As technology improves, banks will be able to evaluate risk using highly complex formulas, and do it in real time. With data will come understanding of risk.
- Community Advocacy Builder – This role is designed to foster good relations with customers, as banks and their products become more closely integrated with a consumer’s daily life.
King didn’t say it, but banks might also want to look into setting up pool tables and offering free snacks to get that “startup” feel and attract Gen Y talent!