With the rise of new regulations such as the Dodd-Frank Reform Act, the advent of outsourcing and the growth of cloud computing, there is little doubt that the hedge fund industry landscape has evolved significantly in recent years. These changes have forced many firms to re-examine the way they do business, from both an operational and a technology perspective. On a personnel level, what effects have these changes had for the individuals that are responsible for technology at hedge funds and investment firms?
Chief Technology Officers (CTO), or individuals in comparable roles such as Directors of IT, Chief Information Officers, etc., have traditionally been responsible for an organization’s day-to-day IT functions and regular technology upgrades. However, as the industry has experienced drastic change in recent years, so too has the role of the CTO and his or her responsibilities.
Today, a hedge fund CTO is forced to wear many hats and have an understanding of many different technologies. In addition to having a variety of technical skills in such areas as networking, storage, virtualization, telecommunications and resource management, this individual must now also possess business savvy and other non-technical skills to support the organization. These include an understanding of the evolving regulatory environment, knowledge of compliance standards, keen communication skills and an understanding of the newest and most robust security measures.
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