I am looking for a job in this area also. It seems that everybody wants financial background unless you are looking at more well known firms such as Bloomberg, Lehman Brothers etc. These companies offer 6 to 8 week training on both IT and financial aspects. I also have seen firms asking GRE or SAT scores (specifically the quantitative section) and Ivy League education. I am getting depressed day by day.
The market has been bad but the future does look better. Citibank just posted its figures which looked pretty good and they are expecting 2003 to be better. I have seen some companies start to open up some positions that had been frozen since 2001. I would guess that barring a long drawn out war that things should be better by the summer.