The era of digitization has revolutionized the financial domain, offering its customers 24/7 access to company services in a simple and convenient manner. That being said, this digitization has also exposed financial service providers to cyber threats. Many financial institutions are spending a significant amount of money and time hiring cybersecurity personnel, but the vulnerabilities have continued to widen the threat gap.
IBM X-Force reports financial services as the most attacked sector by cybercrime. The statistics are alarming. The financial industries have experienced 65 percent more cyber attacks in 2016 than all other sectors. Most of the attacks (58%) were sourced from inadvertent insiders. This last statistic really drives home the need for more highly skilled cybersecurity professionals in finance.
With the respective surge of hiring in cybersecurity, executives are concerned about a rapidly growing workforce gap. This gap is estimated to reach 1.8 million professionals by the year of 2022. Similarly, efinancialcareers has reported that cyber talent is facing a significant shortage in the field of advanced level threat management. What’s more, finance and asset management institutions face increased risks of security breaches of users’ data, operating systems, and corporate intellectual property.
Executives of banking, insurance, and financial services must improve their approach to talent hunting. One solution to the shortage is adopting a niche recruiter. The solution team here at Oakwood Search can assist in mitigating the challenges of finding, hiring, and retaining the right talent. Our team can provide cybersecurity solutions for application security, authentication, network security, and security threats & countermeasures. Contact us to discuss your firm’s cybersecurity needs and receive talent recruitment tailored to your company’s goals.