Application Support
Support IT applications for major investment banking clients
One of the biggest challenges for IT Consultants working in the financial services industry is the need to understand the complex world of IT in relation to global financial services. FDM’s Application Support training stream provides you with the understanding and the skills, as well as the opportunity to work towards a professional qualification from the Securities and Investment Institute.
FDM’s application support stream will develop your awareness and appreciation of the finance industry, giving you the grounding and the expertise you will need to launch a career as an Application Support Analyst.
Finance Fundamentals
The course covers the regulatory environment, the debt market, alternative investments including derivatives, futures and options, foreign exchange, and property, hedge funds and private equity. You will explore retail products like unit trusts, investment trusts, REITs, loans and mortgages, life assurance and pensions. You will cover tax, economics and economic indicators such as RPI & RPIX.
IT Concepts for Finance
Your training will then take you through the essential IT concepts you will need in order to successfully operate in a financial environment. It will begin with an introduction to the Information Technology Infrastructure Library (ITIL) – a set of concepts and techniques for managing IT infrastructure, development and operations. You will gain an understanding of best practice relating to the provision of IT services and will also learn the Universal Modelling Language (UML), an essential communication tool for business analysts and developers, as well as being introduced to Quantitative Analysis techniques using VBA and Excel.
Become an Application Support Analyst
To become an Application Support Analyst, an IT related degree would be desirable, although business or financial disciplines may also be beneficial. Any exposure working within fast paced or high-pressured environments would be advantageous.
An Application Support Analyst must be a natural problem solver, with the ability to analyse and diagnose any given issue, as well as possessing high attention to detail. They will be strong communicators with the ability to work in a client-facing role and converse effectively with colleagues and senior management. Self-motivation is a key skill as well as excellent time management and the ability to prioritise tasks.
The Career
Due to the current economic situation, many individuals have been discouraged from careers in the financial sector, where Application Support Analysts usually work. However, as IT is an essential part of financial services, business leaders continue to invest in their IT systems year on year. Financial institutions have been updating, enhancing and replacing their systems, which in turn has increased demand for talented IT Consultants.
As a professional Application Support Analyst you will be responsible for supporting bespoke applications, often, but not always, within large investment banks. Your role may involve some programming and administration, though primarily you will deal with any technical problems; analysing, diagnosing, then either solving or referring the problem to the right person to do so.
Read about one of our current Consultant’s experience as an FDM Application Support Analyst in our Career Profiles section.