What are the Top 5 Contract Jobs in Fintech?

Fintech is one of the most important pillars in the technology sector, revolutionising traditional financial services through innovation and digitalisation. As the fintech industry continuously grows and changes how we manage money, invest, and borrow through mobile banking apps and peer-to-peer lending platforms, the demand for proficient contract professionals has surged. As innovation and advancements occur, there is a growing need for expertise ranging from software engineers to cybersecurity contractors.

In this guide, we will explore the top 5 contract jobs in fintech, discussing the roles, responsibilities, necessary skill sets and qualifications, as well as the average expected salary for each fintech contractor role:

1. Software Engineer Contractor

First, let’s explore one of the most essential roles of contractor workers in the fintech sector, a Software Engineer. 

In the fintech sector, the role of a software engineer contractor is pivotal, including a wide array of responsibilities crucial to developing and maintaining fintech products and services. Contract professionals in software engineer fintech jobs are tasked with writing robust and efficient code, contributing to the design and architecture of software systems to ensure scalability and security. Roles also include conducting testing and debugging, collaborating closely with multidisciplinary teams, and ensuring compliance with regulatory standards. 

The expertise of professionals in fintech contract jobs is crucial in driving innovation and delivering high-quality fintech solutions on a flexible, temporary basis. 

Responsibilities of a Software Engineer Contractor 

According to research, the fintech industry's employment is estimated to increase to over 100,000 in the UK by 2030. This figure highlights the growing importance of the necessity for employees equipped with the skills required to carry out the responsibilities of vital fintech jobs, such as software engineers. 

Here are the key roles and responsibilities of a software engineer contractor:

• Clearly defining project objectives, deliverables, and performance metrics to meet organisational goals
• Design, develop and implement fintech applications 
• Write secure code following best practices to address challenges
• Implement authorisation and authentication methods
• Stay educated on relevant financial regulations
• Work collaboratively with various team members, such as developers, designers and project managers
• Continuously stay educated on the latest fintech advancements  

Software Engineer Contractor Skills

Below are the most essential skills contract workers must possess as a software engineer:

• Proficiency in programming languages such as Python, Java and C++
• Experience dealing with financial APIs and various other platforms
• Strong understanding of secure coding principles and security tools for penetration testing 
• Knowledge of Version Control Systems (VCS) such as Git or Subversion
• Familiarity with financial products and regulations 
• A commitment to learning various financial concepts 
• Strong communication skills to collaborate with several stakeholders
• Ability to work well within a team to deliver successful projects 
• Proficient time management skills to manage multiple projects efficiently

The median rate of a software engineer contractor: £625 per day

2. Blockchain Developer Contractor

Blockchain Development Contractors are critical individuals in the building of fintech systems and applications utilising blockchain technology. The two main types of blockchain developers are ‘core’ and ‘software’ developers. Core blockchain developers specialise in the construction of the blockchain itself, including the framework and security systems and how the overall network operates, while a Blockchain Software Developer creates the applications that operate from these core blockchain systems. 

Their primary focus is on the software's design and development, supporting front-end users and maintaining the server end of the applications involved. So, let’s explore some of the key roles, responsibilities and skills of Blockchain Developer contractors:

Responsibilities of a Blockchain Developer Contractor 

Here are the most essential roles and responsibilities of a blockchain developer contract worker:

• Initial design and development of the blockchain structure
• Creation and development of user interfaces utilising blockchain applications
• Code writing for both front-end users and the server side of blockchain applications
• Ensuring a streamlined integration of blockchain technologies with current applications in use
• Development and roll-out of smart contracts enabling agreements to be automated on the blockchain
• Remaining up to date with the progression of blockchain technology
• Liaising with other teams and developers to enable improvements and solutions
• Testing, maintaining, and ensuring all blockchain applications are functioning optimally

Blockchain Developer Contractor Skills

Vital blockchain developer contractor skills include:

• A strong knowledge of blockchain architecture specifically, consensus mechanisms, cryptography – in particular, an in-depth understanding of cryptographic principles such as PKI (public key infrastructure) and hashing algorithms
• Proficiency in programming languages, including at least one of those used for blockchain development, such as Solidity (Ethereum), Go (Hyperledger Fabric), Java or Python (various platforms)
• A clear understanding of data structures and how data is arranged and accessed within a blockchain network
• Strong networking and database skills and the ability to demonstrate how database systems and P2P (peer-to-peer) networking concepts operate

The median rate of a blockchain developer contractor: £650 per day

3. Cybersecurity Contractor

Within fintech, a cybersecurity contractor normally works on a temporary project-based assignment. Such projects may involve protecting sensitive financial data, ensuring compliance with regulations like GDPR and PCI DSS, and mitigating cyber threats. 

As a cybersecurity contractor, you may decide to specialise in a particular area, including incident response (assisting with recovery from a cyber incident), cloud security, or penetration testing (simulating a cyber-attack to assess a company’s weaknesses in the event of an attack).  Many fintech companies will utilise a cybersecurity contractor due to gaps in their internal workforce expertise and gain experienced professionals as and when needed. 

Responsibilities of a Cybersecurity Contractor 

Below are the vital responsibilities involved in cybersecurity contract jobs:

• Identifying vulnerabilities in a company’s infrastructure, utilising scanning tools and other procedures to assist this process
• Focus on improvements in cybersecurity measures and foresee possible weaknesses to minimise the risk of a future attack
• Implementing strategies and responses following risk and assessing the company’s weaknesses and improvements
• Assisted with installation and configuration of any recommended software or hardware to assist cybersecurity and ensure smooth running alongside existing strategies
• Delivering training and development to avoid companies succumbing to a future cyber-attack

Cybersecurity Contractor Skills

Here are the key skills a candidate must possess to become a cybersecurity contractor:

• Must demonstrate an in-depth knowledge of critical areas, including cryptography, network security, and incident response
• Strong knowledge of the specific areas of specialism required, such as penetration testing, cloud security, digital forensics, and vulnerability testing
• Must be proficient in industry standard tools to assist with intrusion identification, scanning for security breaches, event management (SIEM) and forensic analysis
• Scripting languages such as Python Bash are a distinct advantage
• A clear understanding of various operating systems, for example, Windows, Linux, and MacOS and their security operations is essential

The median rate of a cybersecurity contractor: £625 per day

4. Data Analyst Contractor

Over the past year, the demand for fintech jobs has increased by 62%. As the demand for talent increases, businesses must employ essential contract workers to continue to drive fintech advancements within the field. In fintech recruitment, companies are beginning to hire contractors to bridge immediate talent. A data analyst contractor will primarily be deployed on a temporary project-based assignment to enable companies to analyse their data to gain important insight into their operations. 

Data analyst contractors play a crucial role in fintech by leveraging their analytical skills to interpret financial data, identify trends, and extract actionable insights. They assist in improving decision-making processes, optimising financial strategies, and enhancing risk management practices within fintech companies.

Responsibilities of a Data Analyst Contractor

The primary roles and responsibilities of a data analyst contractor include:

• Analysing financial data to identify patterns, trends, and anomalies.
• Developing and maintaining data models and databases to support financial analysis
• Conducting ad-hoc and exploratory data analysis to uncover insights and opportunities
• Collaborating with various teams to understand business requirements and form analytical solutions
• Building predictive models and algorithms to forecast financial trends and outcomes
• Performing data cleansing and validation to ensure the accuracy and reliability of financial data
• Monitoring key performance indicators (KPIs) to assess financial performance and identify areas for improvement

Data Analyst Contractor Skills

Let’s explore the essential skills required for data analyst contract jobs that both candidates and clients should consider:

• Strong quantitative and statistical analysis skills to interpret financial data and trends
• Knowledge of financial concepts and principles, including risk management, portfolio management, and financial modelling
• Experience with data visualisation tools such as Tableau, Power BI, or Matplotlib for communicating insights effectively
• Critical thinking and problem-solving skills to address complex financial challenges and optimise decision-making
• Strong attention to detail and accurate data analysis and reporting to ensure the reliability of financial insights
• Effective communication skills to collaborate and present findings to various teams
• Compliance and regulatory knowledge to ensure adherence to financial regulations and standards in data analysis processes

The median rate of a data analyst contractor: £470 per day

5. Regulatory Compliance Contractor

Regulatory compliance contractors play a pivotal role in fintech by ensuring that companies adhere to financial regulations and standards. They assess regulatory requirements, develop compliance strategies, and implement policies and procedures to reduce risks and ensure legal compliance. 

By staying educated on regulatory changes and industry developments, contractors assist fintech firms in navigating complex regulatory spaces, maintaining trust with stakeholders, and avoiding costly penalties. Their expertise is essential for safeguarding the reputation of fintech organisations.

Responsibilities of a Regulatory Compliance Contractor

Here are the crucial roles and responsibilities of a regulatory compliance contractor:

• Remaining up to date at all times with current financial regulations and specific industry standards relevant to their company’s operations
• Continually researching and analysing the consequences of breaching complex fintech regulations
• Identifying any failings in a company’s practices and procedures that may put them at risk and correcting these by advising on the appropriate measures and protocols
• Carrying out regular risk assessments to identify the effects of non-compliance
• Creating and maintaining fintech compliance strategies to minimise risk
• Training and monitoring current fintech policies and procedures

Regulatory Compliance Contractor Skills

The fundamental skills of a regulatory compliance contractor include:

• In-depth knowledge of financial regulations and standards applicable to the fintech industry, such as GDPR, PSD2, AML, KYC, and GDPR
• Understanding of regulatory frameworks and guidelines issued by regulatory organisations like SEC, FINRA, CFTC, and FCA
• Ability to interpret and apply complex regulatory requirements to fintech products, services, and operations
• Skills in developing and implementing compliance policies and procedures to ensure adherence to regulatory requirements
• Proficient analytical skills to evaluate the impact of regulatory changes on fintech operations
• Attention to detail and accuracy in regulatory reporting and documentation to ensure regulatory compliance
• Effective communication skills to collaborate with internal stakeholders and external partners
• Problem-solving abilities to address compliance issues and implement timely solutions

The median rate of a regulatory compliance contractor: £738 per day

Final Word on the Top 5 Contract Jobs in Fintech

As the fintech sector expands, the demand for skilled contract professionals grows. From software engineers to regulatory compliance contractors, these professionals play pivotal roles in ensuring the security, efficiency, and compliance of fintech operations.

Software engineers form the backbone of fintech development, tasked with creating robust and scalable software systems while adhering to regulatory standards. Blockchain developers also bring expertise in blockchain technology, which is essential for building secure and transparent fintech solutions. 

Cybersecurity contractors safeguard sensitive financial data and mitigate cyber threats, ensuring compliance with regulations like GDPR and PCI DSS. Data analyst contractors leverage their analytical skills to extract valuable insights from financial data, informing strategic decision-making within fintech companies. Regulatory compliance contractors navigate complex regulatory procedures, ensuring adherence to financial regulations and standards, thus safeguarding the reputation and trust of fintech organisations.

As the fintech industry continues to evolve, contract professionals remain essential in driving innovation and meeting the demands of fintech recruitement. Whether it's developing cutting-edge technologies, safeguarding against cyber threats, or ensuring regulatory compliance, contract workers play a vital role in shaping the future of the industry.

Searching for a Specialist Fintech Recruitment Agency?

As global leaders in fintech recruitment, our specialist consultants are dedicated to connecting skilled professionals to top fintech contract jobs. With a growth-oriented culture and unmatched resources, extensive talent pools and industry networks, we match international businesses with extraordinary fintech expertise.

Whether you are a business looking for contract workers or a candidate seeking their next career opportunity, our fintech recruitment agency can support you in achieving your goals. Contact us today to discuss your requirements, no matter how complex.