The tech sector has experienced a tumultuous year up to this point commonly referred to as Fintech Winter. Massive layoffs have occurred within the major tech corporations, well-publicized startups have gone bankrupt, and even celebrities have withdrawn their support for emerging technologies.
This phase has been referred to as a ‘tech winter’ by many, signifying an extended period of substantial decline in technology-related investments and business endeavors. Nevertheless, even amidst the persistence of this tech winter, proponents of technology are turning their gaze toward brighter prospects.
Weathering the Fintech Winter
In finance, the prevailing conditions are now being referred to as the Fintech winter. This recently coined expression characterizes the present period, defined by surging inflation and increasing interest rates, plummeting corporate valuations, and workforce reductions within the financial technology sector.
Startups, known for disrupting traditional business landscapes, naturally raise concerns and caution when the startup ecosystem itself undergoes significant disruption. Just like any period of rapid growth, this heightened level of investment cannot be sustained indefinitely. As a result, there has been a substantial decline in both the volume and value of deals this year.
Managing a startup in any economic climate presents its challenges, making expert guidance crucial for navigating these uncertain times.
Startups with strong financial positions and sustainable business models can weather the current downturn, while some, particularly those whose valuations have decreased, may become appealing acquisition targets.
During fintech winter, investors inevitably shift their focus toward fundamental aspects, prioritizing revenue over rapid growth and emphasizing the need for streamlined and conservative cost management. Startups initially incur substantial expenses, such as personnel, marketing, and cloud infrastructure, which makes it imperative for founders to evaluate the efficiency of their cloud service usage.
Fintech companies are actively taking steps to assist startups in cost-saving measures related to their cloud expenditures. This includes conducting regular reviews to ensure customers are utilizing the most cost-effective pricing models and not overextending their use of services beyond actual needs.
In spite of these challenges, numerous fintech firms continue to actively recruit industry specialists to support emerging startups during the FP&A revolution and navigate through this challenging period.
The Future of the FP&A Field Amid a long Fintech Winter
Presently, consumers are cautious with their spending due to the looming possibility of a recession. However, this situation is bound to shift in due course. If monetary policies successfully combat inflation, the financial strain will gradually subside, leading to increased lending, borrowing, and spending.
Fintech developers can look forward to a promising future ahead, driven by evolving consumer expectations and changing preferences affecting a wide range of businesses, including banks, credit card issuers, and retailers.
When consumers eventually regain confidence in spending, they will demand unprecedented speed and flexibility in their financial transactions.
For businesses planning to offer goods or services to consumers once the economic downturn subsides, it becomes imperative to explore embedded finance systems with the help of FP&A experts, integrated accounting software, and cutting-edge technologies facilitating the acceptance of innovative payment methods.
Below are some of the highly attractive FP&A positions currently available:
Datarails
Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning while enabling finance teams to continue using their own Excel spreadsheets and financial models.
Hiring Position: Customer Success Manager
Qualifications:
- 1-3+ years of experience in customer success, consulting, or similar customer-facing roles.
- Deep knowledge and solid experience in advanced Excel functions (formulas, Vlookup, Pivot Table, Power Query, and complex models)
- Strong communication and relationship-building skills – this role involves creating and managing business relationships with CFOs, VPs Directors of Finance, and other customers from leading US companies, requiring the ability to engage in professional conversations, manage expectations, and guide customers to a positive outcome.
- Financial experience or background (finance, FP&A, etc.) is an advantage
- Bachelor’s degree or equivalent experience
Job Description:
- Understand current client situations, helping simplify models and existing data.
- Create a detailed business analysis, outlining problems, opportunities, and solutions for our customers.
- Manage, interpret, and validate all data that is produced by the customer.
- Provide recommendations for possible process changes.
- Build long-term strategic relationships with customers and follow through with necessary financial reporting support.
Location: 100% Remote- based anywhere in the US.
Salary Range: $80,000-100,000/ Year
(Based on experience, skills, and location, plus an annual bonus and a generous benefits package! No sponsorship or relocation assistance is available.)
Amazon
Amazon’s Corporate Financial Planning & Analysis (FP&A) team is looking for a finance manager to join its Planning & Insights group. Within Amazon’s Corporate FP&A team, we enjoy a unique vantage point into everything happening within Amazon.
Hiring Position: Finance Manager
Qualifications:
- 8+ years of tax, finance or related analytical field experience.
- 5+ years of advanced proficiency in Excel (pivots, lookups, etc.) experience.
- Comfortable with large volumes of complex data and presenting their findings to senior management.
- MBA, or CPA
- Strong analytic, financial modeling, and reporting skills.
Job Description:
- Create, maintain, and improve reports to support Corp FP&A’s analysis
- Compile and review financial plans and communicate results to management.
- Produce ad-hoc reports and assist in various projects.
- Present ad hoc business analysis and recommendations to senior management.
- Support key Corp FP&A planning and MEC deliverables.
Location: Seattle, WA, USA
Salary Range: $111,300 – $207,000/year
(Depending on the position offered, equity, sign-on payments and other forms of compensation may be provided as part of a total compensation package, in addition to a full range of medical, financial, and/or other benefits.)
MOSERS
The investment program of MOSERS is responsible for managing a $8.4 billion portfolio held in trust for the payment of pension benefits to members. MOSERS portfolio has a sophisticated asset allocation utilizing explicit leverage of up to 150% at the total fund level.
Hiring Position: Senior Investment Analyst
Qualifications:
- Bachelor’s degree in business administration, economics, finance, or a closely related field. A Master’s degree is strongly preferred.
- Preferably, at least 4 years of institutional investment experience. Will still consider candidates with less experience for an Investment Analyst or Junior Investment Analyst role.
- Experience working with multiple liquid asset classes is preferred.
- Chartered Financial Analyst (CFA) designation or progress towards the designation is preferred.
- Requires ability to interpret statistical data and investment markets.
- Strong analytical and data analysis skills are preferred.
- Strong computer skills and a sound working knowledge of Microsoft Excel.
- Excellent communication skills both written and verbal.
- Ability to maintain confidentiality.
- Ability to demonstrate integrity and a high degree of ethics.
- Ability to establish and maintain positive working relationships with MOSERS staff, members, outside vendors, and other contacts.
- Dedication to the task at hand and strive to exceed expectations.
Job Description:
- Performing standard and complex analysis of data. Analyzing portfolio holdings, monitoring investment portfolio performance, and analyzing related information.
- Producing research on markets and sub-class allocation for use in asset allocation decisions.
- Assisting in identifying and monitoring strategic value-added investment opportunities.
- Assisting in gathering data and analyzing investment risk, market information, and detailed operational matters.
- Assisting with gathering, reconciling, and reporting information used in overseeing external manager relationships.
- Tracking external research sources to provide useful insight into markets.
- Developing and running reports in investment statistical software systems for use by the team in the investment decision-making process.
- Learning to read, understand, and contribute to legal documents and account paperwork reviews with increasing understanding and contribution.
Location: This position works 4-5 days in our office in Jefferson City, Missouri but may work from home up to one day a week on Fridays.
Salary Range: $83,000- $100,000/ Year depending on education, experience, and certification.
Final Words
Regardless of the current state of financial markets, the valuations of fintech firms, or the workforce sizes of prominent fintech companies, it’s essential to recognize that the enduring demand fueling advancements in financial technology remains robust. In fact, even in the face of reduced corporate profits and strained household finances, the demand for Financial Planning and Analysis (FP&A) positions is on the rise.
The pivotal strategy for weathering the challenges of the ‘fintech winter’ is to discover innovative ways to cater to the desires of both consumers and businesses precisely as they desire. By doing so, businesses can position themselves to thrive when the metaphorical spring arrives, ushering in a new cohort of successful players in the fintech industry.
