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What do finance domain IT projects look like?

Question posted by: theGeek (Newbie) on April 22nd, 2008 12:41 PM
Hi All,

I am keen to know about what are the general chores that are needed to be done in an IT project of finance domain. I haven't had any opportunity to work on finance domain but soon I am going to join an organization that specially deals in finance domain projects.

Now as a software developer I want to have some prior knowledge about what finance projects usually do and what are we the IT guys, specially at my level(with programming experience of 2 yrs in asp.net with c#) are required to do or know.

It would be a great great help if alongwith some description here, I could get some resources from where I can have a better understanding of finance domain projects.

I am already wading through the web to quench my thirst for this knowledge. But since here I can find experts for almost any technical aspect, I expect some nice help here.

Besides, I have also posted the same quest at software development forum just to make sure I do get some good responses. These two are the places I could find could be used for posting this kind of general question.

I am sure this discussion would help just not me but several others to know more about finance domain projects.

Thanks to all in advance.
weaknessforcats's Avatar
weaknessforcats
Moderator
4,756 Posts
April 22nd, 2008
03:58 PM
#2

Re: What do finance domain IT projects look like?
Finance is a broad term.

Is this accounting?
Bills of material and unit cost analysis?
Inventory management?
Tax preparation?
Stock and bond tracking?

etc...

You will find your programming ability is irrelevant and you will need to learn the application area. A lot of analysis is done using Excel and Access.
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kadghar's Avatar
kadghar
Expert
1,083 Posts
April 22nd, 2008
11:03 PM
#3

Re: What do finance domain IT projects look like?
Quote:
Hi All,

I am keen to know about what are the general chores that are needed to be done in an IT project of finance domain. I haven't had any opportunity to work on finance domain but soon I am going to join an organization that specially deals in finance domain projects.

Thanks to all in advance.


Finance projects are great!, but have in mind that your applications cannot be of simple-fast-solving-problem kind, since they cannot be focused on solving particular problems. They have to be quite general.

Lets say you need to calculate the prices of some securities, for example, each RMBS has a different waterfall, so you cannot use the same algorithm for two different securities, even if they are both RMBS.

That's why i'll strongly recomend you to consider an scripting feature, so the user can program many different ways to evaluate securities, bonds...

^.^ That'll keep you busy.
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theGeek's Avatar
theGeek
Newbie
11 Posts
May 12th, 2008
11:17 AM
#4

Re: What do finance domain IT projects look like?
Quote:
Finance is a broad term.

Is this accounting?
Bills of material and unit cost analysis?
Inventory management?
Tax preparation?
Stock and bond tracking?

etc...

You will find your programming ability is irrelevant and you will need to learn the application area. A lot of analysis is done using Excel and Access.


Thanks for that reply :). However, the company that I will be joining deals with banking softwares. I know, again, even a simple bank will be having a whole lot of activities going on majorly of financial nature. But I would appreciate some comments specifically regarding banking projects.

Thanks!
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weaknessforcats's Avatar
weaknessforcats
Moderator
4,756 Posts
May 12th, 2008
03:11 PM
#5

Re: What do finance domain IT projects look like?
This would be a great time to start taking accounting classes. You will need to know about credit/debit accounts, mortgages, bonds, CDs, etc.

Again, I say, it is the applicateion knowledge that is important and not the programming ability. Learn the banking business. Then learn to code.
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