Computers in Fintech and the Career Opportunity for INTJs


I have chosen the intersection of the Financial Services Industry and Information Technology, AKA “Fintech” as my industry of choice for my examination of Network Security. My background as a former Financial Advisor/Stock Broker /Insurance Salesman presented me with one of the most innovative industries – Finance. I was amazed at how fast and how outside –the-box experimentation existed with competing large firms and how it made sense that if software were to be useful, it would be well-funded within industries where timeliness and information impact were essential drivers of innovation.  I also saw how the rise of easily available alternative financial planning software and brokerages were massively pressuring the financial firms to squeeze commissions and fees. That pattern continues even today to an extreme, including the revolutionary platforms like RobinHood, where trades and account setup are free.  I saw the handwriting on the wall as a self-motivating  salesman (because that is what a Financial Advisor is) and turned to the path of financial operations instead. There is always a demand for customer service and concierge services, I figured.  I also observed that if there is any real long-term opportunity (greater than a civil engineer) today with jobs ready to fill, it is Cyber Security.  I was truly grateful that the opportunity to start work as a Client Services Associate at Envestnet became available to me a year ago - one of the worst times since the financial collapse of 2009 for me. They also offered a degree program pursuit in this line of work at no cost to me and I took it.  That brings me to my first point: the Opportunity for me personally is huge. Figures below draw a clear conclusion to the personal financial advantage to working in this line of work with regard to continuous financial reward and the demand for the skills being transferable across industries. No other part of financial services as an industry can say that. I chose to pursue a scientific method (key to point is my MBTI personality type INTJ (AKA “the Mastermind,” the “Architect,” or “the Professor”) defines me as methodical. https://www.16personalities.com/intj-personality

I used a resource formerly known as O*NetOnline to find out what kind of interests I should pursue and what educational preparations I should make. I also examined my MBTI to drill down on those careers best suited for me. The two assessments overlapped. The results are that Network Security and Information System Administration, or possibly Information System Management, might be really good choices for a fit and a grand career opportunity. There is also a bit of fun in the mix.

I’m convinced while I’m a little behind the times as far as an ideal career change, an opportunity like this comes along once in a lifetime.  The need is incredibly high. The recognition is already there by corporations, government and even individual citizens. The confidence we all need in our daily lives for faith in monetary transfer (and information privacy) has never been higher.

My second point is the sense of mission I have, which is that we must have faith in our financial systems because it’s not love that makes the world move - it’s the velocity of money. (Bordo, 2007)  everyone wants privacy and business continuity, but no one dares to think about what happens if their bank or 401K account is suddenly drained. Fintech Security is also National Security. In the U.S, we have very real enemies who don’t need to launch a ground (or even nuclear ) war to create havoc here. They just need to send us to into money panic electronically. Chaos will ensue. The financial system must be preserved at all costs.

“While Fintech supports financial inclusion, creates new jobs, inspires innovation and simplifies access to financial services, it also exposes people, systems  and  authorities  to  new  risks  that  could  jeopardize  smooth  functioning  of  processes  and  existing  policies.  Fintech  provides  more  efficient  and  convenient  payment  options,  but  also  brings  with  it  various  risks  in  terms  of  competition,  privacy  and  financial  stability.  Accordingly, many  people  are  concerned  about  privacy issues, the trustworthiness of the systems, cybersecurity and any potential exposure to cyberattacks.” https://doi.org/10.2478/jcbtp-2022-0012  (Vučinić,2022)

In conclusion, it’s a no brainer for me to leverage my past and my present to my potential future. From my current and past positions, it is essential for all parts of a financial services firm, as well as the Fintech firm, be very knowledgeable about how computing systems work. I can see firsthand how individuals, who struggle with keeping up technologically and conceptually, are becoming obsolete. Age is one factor, but not everything. The number one skill of the 21st Century is adaptation. In Fintech, it’s “adapt or die.”


Source: U.S. Department  of Labor partner, O*Net : https://www.mynextmove.org/explore/ip



Meyers Briggs Type Indicator:  Introverted, Intuitive, Thinking, Judging (INTJ) PersonalitySource: Tieger, P. (2007) p.191.

 

Opportunity (Career Demand and Salary Expectations):






 

Projected Growth of Career Opportunities:

 Network and Computer System Admins         Information Security Analysts

Average (5-10% annually)/ 8% in NC            Faster than Average (10-15%) annually/ 16% in NC

Outlook:  Good                                                           Bright

Definition: Bright Outlook occupations are expected to grow rapidly in the next several years, will have large numbers of job openings, or are new and emerging occupations.(O*Net, current)

Source:  U.S. Department of Labor.  https://projectionscentral.org/Projections/LongTerm

                                               

References

Vučinić,M. & Luburić,R.(2022).Fintech, Risk-Based Thinking and Cyber Risk. Journal of Central Banking Theory and Practice,11(2) 27-53. https://doi.org/10.2478/jcbtp-2022-0012

Bordo, M.& Filardo, A.(2007). Money Still Makes the World Go round: The Zonal View, Journal of the European Economic Association; Apr2007, Vol. 5 Issue 2/3, p509-523

Tieger, P. & Barron, B. (2007) Do What You Are. Little, Brown & Company.

U.S. Department of Labor.  https://projectionscentral.org/Projections/LongTerm

U.S. Department  of Labor Partner, O*Net : https://www.mynextmove.org/explore/ip

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