The Unsung Heroes of Investment Technology: Application Support

Here at Saragossa, we have built and scaled technology teams within the investment management space since 2015. My focus is on helping these firms to extend their application support capabilities. This article outlines the core responsibilities of an application support engineer and highlights why they are indispensable members of any technology team.

In the fast-paced world of investment technology, where split-second decisions can make or break portfolios, the role of application support stands as a critical pillar supporting the seamless functioning of investment operations. Behind the sophisticated algorithms, trading platforms, and data analytics tools that drive modern investment strategies, there exists a complex ecosystem of applications that require constant monitoring, maintenance, and troubleshooting. Application support professionals are the unsung heroes who ensure that these systems operate smoothly, enabling investment professionals to focus on their core objectives of maximizing returns and managing risk.

A role in application support will usually consist of the following responsibilities:

· System Monitoring – For investment firms, it is crucial that application support teams continuously monitor the health and performance of critical trading systems. By analysing these systems in real time, they can identify any potential issues and take proactive measures to prevent any downtime. A malfunctioning trading system is a trading firms’ kryptonite, if they can’t execute trades, they are bleeding revenue.

· Troubleshooting – Application support teams assist end-users who are experiencing technical difficulties. For example, a portfolio manager on the trade floor may be having difficulty accessing real-time market data, an application support analyst can troubleshoot any connectivity issues, network configurations, or API integrations to restore access to this data and prevent any future workflow disruptions.

· Configuration – An application support team is responsible for ensuring that trading platforms, or any related software applications, are configured and optimised for performance. They may tune parameters such as memory allocation, database indexing or caching mechanisms to ensure maximal system responsiveness and reduce latency during peak trading hours.

· Software Upgrades and Patches – Lots of investment firms are continuously patching or upgrading their systems, this is a highly competitive industry and to stay amongst the top performers, they must deploy the best technology. Regular software upgrades and patches are essential for enhancing functionality and performance. Application support teams carefully plan and execute upgrade and patch deployments to minimise downtime and ensure compatibility with existing systems. I recently supported a leading asset manager in their search for an application support analyst, to assist with their implementation of a new OMS, BlackRock’s Aladdin. Different firms will utilise different systems, with some opting for a completely proprietary landscape. As an application support specialist, each upgrade or change of role offers a unique learning experience, resulting in a career of constant growth.

· Documentation – Comprehensive documentation of a firm’s systems and procedures are crucial for knowledge sharing and incident resolution. Application support teams maintain detailed repositories containing information on system architecture, troubleshooting guides and best practices. This can then be shared with other team members, or to ensure a smooth transition for new starters in the company.

Of course, responsibilities are not just limited to these. Investment technology ecosystems can be highly complex environments, comprising of a multitude of interconnected software and systems. Managing this complexity can require deep expertise and robust processes.

Overall, application support engineers serve as linchpins in the day-to-day operations of investment firms. It’s a career that provides value to organisations and offers considerable opportunities for growth and progression, whether that is a path into other roles within investment tech, or within application support itself – the top analysts at the best firms are rewarded significantly in terms of compensation.

If you are experienced within application support, or are considering a career in the field, don’t hesitate to get in touch for a call and we can discuss potential opportunities. You can reach me at adamb@saragossa.co.uk or send me a message on LinkedIn ( Adam Batbout ).