Questions

IT Opportunities for a Bank employee with Computer Science Background?

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IT Opportunities for a Bank employee with Computer Science Background?

lsanthanam
My friend has done his bachelor degree in Computer Science along with me. After that he did his Master degree in Business Administration and is currently working for a Bank as Operations Manager. Now he would like to come to IT industry. I am asking this question on behalf of him as he does not know about TechRepublic. What are the various career opportunities for him? What he has to do to land in an IT company (need not be for a programming job)?

Thanks in advance.
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    3 Votes
    robo_dev

    If someone understands the inner-workings of financial institutions, that is valuable knowledge.

    With additional training and education, he can learn about how IT systems support those processes, then do a good job of assessing how secure these IT systems are, if there are governance and compliance issues, and then be able to explain these risks or issues to those in the financial industry.

    To make a wholesale jump to a pure IT-role would be a setback in terms of money, as a newbie programmer or support person would be lucky to make half of his current income. If he learns programming or web development, he would be back to square-one, career wise. Although his banking experience might help him to land a job, such as writing financial software, he would still have to start at ground-zero money wise. An MBA is most valuable either to get a job at a financial institution or on the consulting (e.g. Big Four public accounting firms), or one of the mid-tier firms.

    An compliance or IT audit role at either an outside consulting or accounting firm, or within a larger financial institution would be in the range of around $50K for junior-level person, all the way to around $100K+ for someone with experience in most parts of the US.

    Working in a bank, he most likely understands all the relevant regulatory constraints (e.g. SOX, PCI, etc.), so he just has to come up to speed on the security and technical IT issues.

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    0 Votes
    a_mprabhu

    Dear Santhanam,
    Thanks for raising this question on behalf of me to move me up in my carrier.

    Respected robo_dev,
    Thanks for your valuable suggestion. Could you help me to identify the suitable IT course or IT subject which will suitably support me to move from banking industry (with 5 years of experience) into IT industry.

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    2 Votes
    Tony Hopkinson

    they can afford crap wages and lengthy periods out of work....

    Product development / business analysis presumably in banking, leverage the exoerience, seems to be the way to go, or possibly directly to a rubber room, given the career choice....

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    0 Votes
    a_mprabhu

    Dear Tony Hopkinson,

    Thanks for your valuable answer. If i get particular IT Course name to learn, i will be grateful to you.

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    2 Votes
    Tony Hopkinson

    but that's bass ackwards anyway. Seeing as money, and job security aren't driving you, what do you want to do?
    System admin, or coding would essentially be starting afresh, your best bet there would be moving sideways with your current employer, The courses you take would depends on their needs.
    After that' it's leveraging your management and domain experience, business analysis, project management, possibly testing.
    One thing I would say, if you are ready for a change in career, pick something you want to do, then find out what you need to do to get a start.
    Look where you can get a start and pick a career from that, you are going to be at somethingelseRepublic quick, because if you don't like IT you'll be contemplating suicide within six months...

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    0 Votes
    a_mprabhu

    Thanks Tony...

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    3 Votes
    robo_dev

    If someone understands the inner-workings of financial institutions, that is valuable knowledge.

    With additional training and education, he can learn about how IT systems support those processes, then do a good job of assessing how secure these IT systems are, if there are governance and compliance issues, and then be able to explain these risks or issues to those in the financial industry.

    To make a wholesale jump to a pure IT-role would be a setback in terms of money, as a newbie programmer or support person would be lucky to make half of his current income. If he learns programming or web development, he would be back to square-one, career wise. Although his banking experience might help him to land a job, such as writing financial software, he would still have to start at ground-zero money wise. An MBA is most valuable either to get a job at a financial institution or on the consulting (e.g. Big Four public accounting firms), or one of the mid-tier firms.

    An compliance or IT audit role at either an outside consulting or accounting firm, or within a larger financial institution would be in the range of around $50K for junior-level person, all the way to around $100K+ for someone with experience in most parts of the US.

    Working in a bank, he most likely understands all the relevant regulatory constraints (e.g. SOX, PCI, etc.), so he just has to come up to speed on the security and technical IT issues.

    +
    0 Votes
    a_mprabhu

    Dear Santhanam,
    Thanks for raising this question on behalf of me to move me up in my carrier.

    Respected robo_dev,
    Thanks for your valuable suggestion. Could you help me to identify the suitable IT course or IT subject which will suitably support me to move from banking industry (with 5 years of experience) into IT industry.

    +
    2 Votes
    Tony Hopkinson

    they can afford crap wages and lengthy periods out of work....

    Product development / business analysis presumably in banking, leverage the exoerience, seems to be the way to go, or possibly directly to a rubber room, given the career choice....

    +
    0 Votes
    a_mprabhu

    Dear Tony Hopkinson,

    Thanks for your valuable answer. If i get particular IT Course name to learn, i will be grateful to you.

    +
    2 Votes
    Tony Hopkinson

    but that's bass ackwards anyway. Seeing as money, and job security aren't driving you, what do you want to do?
    System admin, or coding would essentially be starting afresh, your best bet there would be moving sideways with your current employer, The courses you take would depends on their needs.
    After that' it's leveraging your management and domain experience, business analysis, project management, possibly testing.
    One thing I would say, if you are ready for a change in career, pick something you want to do, then find out what you need to do to get a start.
    Look where you can get a start and pick a career from that, you are going to be at somethingelseRepublic quick, because if you don't like IT you'll be contemplating suicide within six months...

    +
    0 Votes
    a_mprabhu

    Thanks Tony...