how finance courses benefit IT professionals in their careers - Deepali Jain from Iris software

The Banking and Finance domain is one of the largest and most aspirational sectors in the IT industry. While thriving in it can be a challenge, finance courses for IT professionals provide the perfect solution to overcome this.

To understand how precisely how these courses help professionals overcome common challenges in this domain, we interviewed Deepali Jain from IRIS Software to give us some industry insights.

how finance courses benefit IT professionals in their careers - Deepali Jain from Iris software

Deepali shares some valuable insights about her work and how she was able to get over the challenges she faced.

Q) What project are you working on right now in the Banking and Finance domain?

I am a manual tester and currently, I’m working on a project related to fixed income instruments. The application basically automates the complete trade life cycle of different types of fixed-income instruments across different markets. These instruments include corporate bonds, municipal bonds, being traded across the Europe and US markets.

Q) What are the challenges you commonly face while working on banking and finance projects?

Common challenges IT professionals have in the banking and finance domain

While everyone is technically proficient, we lack the expertise required in the financial domain. So it becomes quite difficult to automate something that you don’t fully understand. As a result, it becomes quite challenging to implement the client’s vision in real life.

This is why most companies serving this domain nominate finance courses for IT professionals in those projects in order to enhance their domain expertise.

Q) So when did you do the course? Did you take it up on your own or were you asked to do it?

I took the FLIP Investment Banking Operations International course after getting assigned to the fixed-income domain project. Everyone had some basic knowledge of finance. But for the project, that wasn’t good enough. Hence, my colleagues and I were nominated to do the course.

The course covered everything about the trade life cycle of equities, fixed income instruments, foreign exchange, etc. in the International markets. This was exactly what we needed for our project.

Q) How did the course help you?

With the course, my colleagues and I were able to understand the terminology and the workings of all the instruments in the trade life cycle. There is a lot of terminologies related to each instrument like call date, yield to maturity, coupon, face value, etc. which we were able to understand better.

This, overall, allowed us to test the application with more intricate scenarios.

For example, our project deals with hedging. In this, we try to reduce industry-risk by investing in a couple of stocks in different ratios to ensure we get an overall gain no matter how the industry performs. Once we understood this process, we were able to test different industry fluctuation scenarios to help provide a better insight into how the client could mitigate risks by investing in what ratios.

We were able to improve the overall efficiency of the project this way.

Q) Do such courses have a direct impact on your appraisals? Are they part of your KRAs?

Are financial courses part of the KRAs for IT professionals in banking and finance domain

In this project, finance courses were relevant to us and hence carried some weightage in our KRA.

So definitely, such courses have a significant impact on our appraisals indirectly. Those who took the FLIP Investment Banking Operations International course were able to improve their performance and deliver efficient results. In conclusion, as the efficiency of our work increased, our management also appreciated this change and it became visible in our appraisals.

Q) If we talk about career growth, how do such courses aid you?

Finance courses for IT professionals help add a lot of value to their CV apart from providing them with the domain expertise. It helps freshers and professionals starting out in this domain cut through the high competition in this sector.

Plus, if you want to get into this sector, you’ll be asked to do such courses at some point. If you already have the domain knowledge, you could easily get into the leadership roles of such projects.

how do financial courses help IT professionals

Q) Why do IT projects in the Banking and Finance domain have a lot of competition?

There are a couple of reasons that projects in these domains are high in demand.

Firstly, this sector’s growing exponentially. Most Banks and Financial institutions are moving towards automating their processes. So there are a lot of projects in this sector. The scope of these projects is also very wide and working on them will help enhance your technical expertise also.

Secondly, a lot of these projects also give you the chance of going on-site and working on them for a while. The sites are mostly abroad so this often seems like an attractive perk to many.

Finally, such projects are also a great way to support your hobby for trading. Everyone nowadays wishes to invest smartly and make extra money on the side. While working on projects in this domain, you get a better understanding of the markets and are able to invest wisely yourself. Working in the finance domain has definitely helped me in my investing decisions.

Why are banking and finance domain projects in IT very aspirational

Q) Is there any advice you would like to give your juniors aspiring to a career in this domain?

Yes, my general advice is that in this era of competition, it’s important for you to stand out amongst the crowd. There is a lot of scope in such projects. However, professionals mostly lack the basic expertise required for them.

What should IT professionals just entering the banking and finance domain keep in mind

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