Sales, tech roles dominate job demand in BFSI sector: Report

Mumbai, June 20

The banking, financial services and insurance (BFSI) sector is witnessing significant demand for sales and technology-related job roles, a report said on Tuesday.

Customer engagement jobs in sales and technology functions like software development, cybersecurity, data analytics and digital marketing have witnessed a growing demand, a research report by Ciel HR Services stated.

The report by the talent solutions provider is based on a survey of HR executives of 60 BFSIs, employing 11 lakh workforce, and an analysis of 33,774 job postings for the sector on portals between March 15 and May 15, 2023.

It further noted that the pandemic led to a substantial increase in digital financial transactions and banking operations, giving rise to certain job roles.

The report also revealed that the representation of women in the BFSI sector is concerning, with only 18 per cent of the entire workforce being women.

Additionally, women hold only 10 per cent of leadership positions within the sector, it stated.

The BFSI sector ranks among the bottom five in terms of the representation of women, it said, adding that this calls for an urgent need for increased efforts and initiatives to promote gender diversity and equality within the industry.

“In the era of AI and technology reshaping the workplace, the finance industry is swiftly adapting to meet rising customer demands. Consequently, there is an increasing demand for tech talent, giving rise to new roles like technology – data governance specialist, treasury head, product head and premium banking – relationship head,” Ciel HR MD and CEO Aditya Narayan Mishra said.

Moreover, he said, professionals in emerging fields like artificial intelligence, machine learning, blockchain and robotics process automation are also in high demand.

“Technology proficiency, innovation and adaptability are crucial skills that BFSI employers will seek in candidates,” he added.

Mumbai continued to dominate with the highest share of 20 per cent in total BFSI job postings, while Bengaluru emerged as the hub for technology and innovations with 19 per cent of postings in this region.

The city has attracted several banks to set up their digital wings, leveraging the IT capital’s infrastructure for automation and efficient services.

Other metros like Pune (13 per cent), Hyderabad (8 per cent) and Chennai (8 per cent) have also witnessed a growing talent pool in the BFSI sector, added the report.