FFP: Being part of datafying banking

After great weeks at Nordea Markets it has become obvious that new ways of applying data analytics have received all time high priority in business.

In this article, we – Eemeli, Matias and Klaus – describe our daily work, and how we are currently part of creating finance digitalization within Nordea with our technical background. We will try to give you insights on how it is like to have a technical field of study within the financial world. Enjoy!

After several great weeks at Nordea Markets it has become obvious that data and new ways of applying data analytics have received all time high priority in business.

Competition has increased in the banking industry which requires optimisation, automatisation, interaction between systems and even more customer attention – all to provide high quality service in an efficient manner. Technical skills are always required in order to provide new solutions to deliver value for customers, as well as a business understanding as organisations must develop and change to maintain their position and move forward.

Some interesting potential fields to further research are data science topics such as machine learning and automatisation, to ease customer service experiments and improve efficiency. These topics have been discussed for a long time and there are still many possibilities to apply this knowledge into practice.

My name is Eemeli Luolila (Age 24) – Assistant Sales Manager, FX/MM Sales

I work in the front office as a assistant sales manager at Foreign Exchange and Money Markets (FX/MM). Here, I develop processes and tools as well as analyse how data can be used in a more efficient manner.

I have studied Industrial Engineering and Management at Tampere University, with a minor in Mechanical Engineering. Previously, I have worked within production planning and development in the manufacturing industry. This does not sound like the typical background for a person working in a bank? Well, why not?

My daily work is diverse with a lot of responsibility and ownership to plan and execute my projects. I work closely with business intelligence and cooperate with many other people, who are always ready to help and guide me. At Nordea Markets, people are enthusiastic and helpful, which makes work rewarding. The working environment is very international which is motivating and gives a very broad network.

My job requires technical skills since I have to understand IT-systems, databases, quantitative analysing methods and software, as well as technical expressions. For technology-oriented people and business people to communicate smoothly, a mutual understanding is required.

Most of the time my work concerns problem solving and research of solutions and system possibilities. My work rarely includes firm routines, which make most of my days completely different from each other. I suggest everyone with versatile backgrounds, willing to learn and keen to understand financial markets and banking to apply for the FFP program.

My name is Matias Tiainen (Age 24) – Assistant Controller in Financial & Risk Control, Business Risk Control

I am a 5th year student from Aalto University, majoring in Complex Systems. In my bachelor’s I studied Bioinformation Technology and you may notice that my background varies quite a lot from the other FFP-talents while reading through their career blogs during the summer. However, I see this as one of my biggest advantages working here at Nordea.

My study program has equipped me with versatile tools set for handling different types of data science related scenarios, as the program combines statistics and natural science in a unique way. As an assistant controller, I have the luxury to apply these in my daily work in our multinational Business Risk Control team. In addition to my major, I have taken courses in Finance and Financial Engineering.

I am a dedicated problem solver thirsting for knowledge, with an interest in human behaviour. For the past two months I have got the chance to utilise these qualities in a Trading Pattern Detection project, where we try to identify behavior of traders as well as machine learning techniques. Currently my daily work also includes automisation of our monthly reporting, different business risk controls and deploying a new environment for them.

It is a great feeling to be a valuable team member, whose contribution really makes a difference, whose work is praised and to learn a lot from the other experts in their field. The cherry on top of that is the get-togethers with other FFP-talents and to interact with other like-minded great individuals. All of these taken into consideration, I highly encourage others with technical background and curiosity towards finance to apply to this program in the upcoming year.

My name is Klaus Uhle (Age 24) – Controller in Financial & Risk Control, Structures and Financing

I work as an assistant controller in the Middle offices, Profit and loss – Balance sheet control team, with a focus on structured products. I am a MSc. student within Industrial Engineering and Management at the University of Tampere with minors in Software Engineering and Data Technologies. Last summer, I worked in a start-up company where the environment encouraged to develop processes. I was excited and a bit surpirised when I realised that this was encouraged in Nordea too.

In my daily work, I perform controlling activities and focus on developing the controlling process by automating data flows, scripting new tools and optimizing the existing ones. While doing so, I can reduce the manual parts of the process and release time for more creative work, which I find truly rewarding. And there is more to come. Next month I will be participating in my first development project where the objective is to establish “python framework” for the whole unit. Looking forward to it!


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