JPMorgan wants fintechs to hire here. They're more interested in growth
A month ago, JPMorgan's chief information security officer Patrick Opet released on open letter to fintech SaaS firms, urging them to improve their cybersecurity, risk and controls teams. Demand for those roles is growing, but fintechs are much more focused on other roles instead.
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A report from recruitment firm Morgan McKinley and analytics firm Vacancysoft released last week, breaking down labour market trends in UK fintech for 2025. It anticipates that, in 2025, there will be 16,575 professional vacancies at fintech firms in the UK, up 31.6% from 2024. The report said that risk and compliance roles in fintechs, by contrast, are expected to rise just 28.2%, with a total of 1,272 vacancies in 2025.
Total estimated IT vacancies in fintech firms are growing much faster; they're expected to rise 38.9% this year to 6,951 roles. Opet's letter specifically criticized the "prioritization of rapid feature development over robust security." The increase in engineer hiring suggests this preoccupation with feature development is ongoing.
Within risk and compliance, compliance roles make up the majority of openings. Vacancysoft projects that there will be 321 compliance roles in UK fintech in 2025, a 20.2% year-on-year increase. Financial crime roles are growing much faster, with a projected 50% increase in openings this year; those roles tend to be more common at consumer-facing fintechs than SaaS firms. Perhaps firms are automating their compliance functions with AI, which brings even more inherent risk.
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