Close to 30 new jobs are to be created in Belfast following the announcement that financial services firm Funds-Axis Ltd is to expand its operations in the city.
In a project backed by Invest NI, the regulatory technology firm, which provides investment compliance, risk and regulatory reporting technology and services to the global investment management industry is to create 29 posts in the next three years.
“Funds-Axis is one of a growing number of regulatory technology companies within our financial services sector,” said Jeremy Fitch, executive director of business and sector development at Invest, which has offered £145,000 towards the posts.
“The company’s product strategy has fuelled its expansion in recent years and is central to its current growth strategy which will see Funds-Axis take its headcount from 18 to 47 over the next three years.
“The new jobs will generate £742,000 in additional salaries for the Northern Ireland economy and will offer a range of employment opportunities for graduates and professionals. The jobs range from risk & compliance roles to positions in HR, marketing and finance.”
The announcment, he added, was the latest in a number of recent investments in the sector, showing that Northern Ireland was strengthening its position as a hub for financial technology services.
Funds-Axis’ customers are typically large financial institutions across Europe and the USA, which are faced with a rising level of financial regulation.
MD Darren Burrows said: “These new jobs will support the continued growth of our investment compliance, risk and regulatory reporting business.
“We have recently secured new clients in the UK, Europe and the USA and Invest NI’s support is enabling us to strengthen both our management and our risk and compliance team, ensuring that we are well placed for continued future growth.”