IT & technology in investment banking

Computing and technology graduates don’t always realise how significant a role technology plays within an investment bank, yet it’s vital to all parts of our business. It enables us to interact with clients, facilitate trading activities, execute multi-billion dollar transactions, manage risks, gather the latest market information, and maintain 24/7 operations.

Graduate technology jobs in investment banking

Some investment banks recruit graduates directly into specific IT roles, while others run rotational programmes where graduates experience working in different areas of technology. There are a whole range of entry-level roles, where you can cut your teeth and gain experience – in application development, web development and infrastructure areas.

You need more than a couple of people on a support desk to make an investment bank function.

Although investment banks don’t recruit entirely from internship programmes, they are an important recruitment route and a safe way to get a taste for the work, gain valuable experience and see if you like the industry.

The skills banking employers want from IT graduates

Typically, investment banks seek IT candidates with a good academic background and a technology-related degree (computer science, engineering, maths, etc), a joint honours with computing or masters in IT. We look for enthusiastic, energetic people who are willing to learn, but can also bring fresh ideas. Good communication and interpersonal skills, as well as teamworking and problem-solving abilities are essential.

Technically-minded students shouldn’t be put off by not knowing about finance – technologists aren’t recruited for their financial wizardry. However, technologists that ultimately do well are those who form strong relationships with their business clients and develop credibility by gaining relevant business knowledge.

An investment bank's IT department: the structure

Information technology departments within this industry provide all the IT services used by the many business areas, typically: securities, investment banking/private equity, finance, operations and risk.

IT services cover all recognised IT disciplines, including: research & development, engineering, technology infrastructure and application development.

IT departments are typically organised into groups that work alongside, and maximise the potential of, each part of an investment bank. This typically includes a global approach to application development and technology infrastructure with a regional oversight to ensure that IT services meet the needs of every location in which an investment bank operates.

Best bits of an IT-related banking graduate job

• You’ll work in a dynamic and constantly changing environment, which is exciting.
• Investment banks are global operators and you’ll deal with people in different offices around the world, which presents opportunities for development and travel.
• There is typically a work hard, play hard ethos and we have fun.

Worst bits of making your graduate IT career in banks

• The environment is fast paced and it can be quite pressurised – prevaricators won’t perform well in this environment.
• The work is team oriented so it’s not a place for those who want to go it alone.

Carolyne Phillips is a global IT campus recruitment manager for Credit Suisse.