Silicon Valley Bank - a subsidiary of SVB Financial Group - plans to hire over 200 people for its Bengaluru Office.
SVB is one of the largest banks in the US and has invested in over 30,000 startups.
The organisation has started hiring engineers, systems architects and data analysts to work on projects and initiatives including product design, development and support for core functional areas of SVB’s business.
The company is establishing a capable and scalable end-to-end finance function in Bengaluru to provide accounting, regulatory reporting, FP&A, procurement, tax and treasury support. Besides IT, the firm is planning to expand its finance division as well, and is currently focusing on accounting, treasury, SOX compliance, regulatory reporting.
“Across the globe, there are shortages in labour of skilled and quality talent to be able to support banking operations. Large global financial institutions have taken a stronghold here in the local market. The important things for us are the development of our digital platform, looking at operating the bank technology-wise, analytic support, and needs in financial operations,” Daniel Beck, chief finance officer, Silicon Valley Bank, told ET.
“It is difficult to find the talent in the US and even on a global basis. As we look at different markets, we find opportunities in Bengaluru,” he added.
The company has recently opened its new centre in Bengaluru.
The bank operates from 29 offices in the US and has operations in Hong Kong, Beijing, Shanghai, Herzliya Pituach, London and Frankfurt.