Financial technology or fintech is an industry that has shown tremendous growth in recent years. With the continuous improvement of digital technology, this industry has completely revolutionized banking and insurance services. This presents numerous job opportunities for those who want to grow in the world of finance by leveraging the latest technology. While these industries have growth opportunities for early-career professionals, the fintech revolution has also led to many job opportunities for mid-career professionals.

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Mid-career roles and associated salary expectations

Product management and data science are segments of the fintech industry that offer lucrative roles for mid-level professionals. With regulations constantly evolving, there is also a strong demand for regulatory technology or regtech professionals, says Abhijit Roy, CEO, GoldenPI. Individuals can expect a salary of Rs 15-25 lakh per annum.

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Critical positions for mid-career professionals include data scientists, credit risk analysts, AI engineers, product managers, engineering managers, and growth marketers, says Vijay Kumar Jamwal, head of human resources at Biz2X. While factors like experience and location can influence compensation packages, he emphasizes that employers provide wealth-building opportunities through ESOPs. This allows team members to directly benefit from the company’s growth and success.

According to Neha Juneja, co-founder and CEO of IndiaP2P, the most in-demand roles for mid-career professionals include data scientists, cybersecurity experts, product managers, AI specialists, and regtech experts.

Addressing salary expectations, he says that mid-career professionals can expect a competitive salary based on experience, expertise, and the scale and market position of the company. It typically ranges between Rs 10 lakh and Rs 40 lakh per annum.

Skills to Focus on for a Smooth Transition to FinTech

In addition to knowledge of financial markets and products, Roy says those looking to move into fintech need to be familiar with cloud platforms like AWS and Azure. Since fintech apps often partner with financial institutions for seamless data exchange, understanding application programming interfaces (APIs) is also valuable. Additionally, problem-solving and analytical skills are essential to solving complex financial challenges.

Jamwal stresses the need to develop a mix of technical and soft skills. On the technical side, he says key skills include data science proficiency (which includes Excel, SQL, and Python), cybersecurity knowledge, and a solid understanding of blockchain technology and artificial intelligence. Non-technical skills include regulatory compliance proficiency, in-depth product understanding, lending fundamentals, effective communication, leadership, and adaptability.

Juneja says mid-career professionals should acquire skills in data analytics, cybersecurity, artificial intelligence, and programming languages ​​like Python and Java. Elaborating on non-tech skills, she emphasizes strategic thinking, project management, and a deep understanding of financial regulations and compliance, along with effective communication, adaptability, and problem-solving.

Professional development courses to follow to thrive in this sector

Because regtech professionals are highly sought after, Roy says mid-career hopefuls may want to consider certifications in regulatory compliance and risk management. Certifications in blockchain, cybersecurity, or data analytics can also add immense value to a portfolio. He also says that widely recognized certifications, such as Certified Information Systems Security Professional (CISSP) or Certified Financial Analyst (CFA), still hold great sway.

Additionally, for those looking for a quicker entry into the industry, he says boot camps offer intensive learning experiences that focus on developing specific fintech skills. The SEBI-certified NISM certificates are also something he highly recommends as they are highly regarded in the finance and fintech industry.

To build a successful career in fintech, Jamwal says mid-career professionals should focus on upskilling in several key areas, including data analytics and visualisation to extract insights from complex financial data, and blockchain and cryptocurrency, as these technologies continue to refine financial services. Additionally, basic knowledge of cybersecurity, artificial intelligence and machine learning, as well as learning about regulatory compliance, can be extremely helpful, he adds.

While certifications from reputable institutions and online platforms like Coursera and edX can be valuable, Juneja says that specialized fintech programs and certifications, such as Certified Fintech Professional (CFP) or Certified Regtech Professional (CRP), are also widely recognized.

Freelance Job Opportunities for Mid-Career Professionals

Freelance work is also gaining traction for mid-career roles in the industry, Roy says. Content writing, UI/UX design, and independent consulting are all in demand, he says.

Jamwal says freelance opportunities are predominantly available in technical roles, especially those requiring specialized skills in software development, data analysis, and implementing specific marketing tools. There’s also a growing demand for freelance trainers who can upskill teams in new technologies and methodologies. Process management is another area where freelance skills are gaining numbers, he says.

Fintech companies often need to streamline their operations or implement new systems, so experienced professionals who can manage these transitions on a project basis are undoubtedly invaluable, he adds.

There is also a significant demand for agents who can sell financial products such as insurance, wealth management products, and mutual funds. Such positions offer immense flexibility and allow professionals to work on different projects, which leads to tremendous personal and professional growth, Juneja adds.

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