Cybersecurity: Hiring Problems in the Financial Services Sector

Cybersecurity is a hot topic in the financial services sector. Banks and financial institutions promise their clients the highest security measures while protecting their assets. However, many financial institutions are anxious about their understaffed cybersecurity teams. Cyber-risk grows every day. Banks worry about the compromise of their operating systems, corruption of data, or the release of confidential data or intellectual property. Other prime targets for these kinds of crimes are security companies, asset management firms, and hedge funds. Leaders fear theft of money or the compromise of their infrastructure.

Unfortunately, many of these companies struggle to hire the right professionals in the cybersecurity industry. They cannot find the right people to keep their systems safe, so they are “poaching” professionals from other companies or even from government agencies. In 2016, New York State Department of Financial Services (DFS) proposed the first regulations for companies to have cybersecurity measures in place. At the same time, the U.S. Federal Reserve, FDIC, and the Office of the Comptroller of Currency (OCC) announced an upcoming requirement for large banks to adopt advanced cybersecurity solutions. This kind of regulation will trigger an upcoming hiring surge for cybersecurity professionals.

Many companies seek the help of niche recruiters like Oakwood Search. Oakwood Search is the leading recruiter for cybersecurity and technology. They recruit the highest quality professionals to protect a company’s systems. Their staff has significant Fortune 500 internal recruiting experience. They assess every candidate to make sure the best talent goes to the best companies. One of their biggest clients is the oldest and largest private bank in the nation. They recruit cybersecurity professionals for application security, authentication, network security, and security threats and countermeasures. As the need for more cybersecurity grows, companies in the financial service industry will seek more and more help from niche recruiters like Oakwood Search to provide hiring needs.

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