FinTech Futures Jobs: Closing the chasm – the largest work skills gaps are in cybersecurity
Despite London being a global superhub for fintech and the UK being ranked as the European leader in cybersecurity, data breaches and online security threats continue to plague the sector.
In 2022, companies in the UK experienced 408 million breached records across 1,063 security incidents, according to IT Governance.
And as cloud adoption accelerates across all areas of business and banking, the need for tech workers who are highly skilled in cybersecurity controls is greater than ever before – according to data compiled by the UK’s Government Department for Digital, Culture, Media & Sport, more than 6,000 new jobs were added last year.
The most common roles in demand are security engineers (35%), security analysts (18%), security managers (14%), security architects (11%) and security consultants (9%) and the sectors in demand include consultancy, IT (excluding cyber sector firms), and finance and insurance sectors.
And to aid those interested in carving out a career in the sector, the UK Cyber Security Council has also developed a Careers Route Map to provide details about the 16 specialisms in cybersecurity and career pathways to each specialism, including the skills and knowledge required along with common job titles and average salary ranges.
Despite this, a deficit persists and more than half (51%) of all private sector companies in the UK are ill-equipped to deal with cybersecurity threats due to a shortage of staff with adequate technical skills and knowledge.
In its Cyber security skills in the UK labour market 2022 report, the Department for Digital, Culture, Media & Sport also found that although technical skills were most commonly cited as lacking, 41% of cyber sector firms have found an additional gap in complementary skills like communication, leadership, management, or sales and marketing.
Competition to attract and retain top talent has also increased from 9% to 25%, with 52% of cyber firms struggling to fill generalist roles at senior management level.
Upskilling is key
So, how can businesses get around these problems and protect their data and their customers?
While recruitment continues to be a sticking point, in-house learning and development opportunities can provide a solution to the problem and in firms that are cyber specific, 73% have provided training for staff compared to 21% of businesses in the wider private sector.
External training via the National Cyber Security Centre is also another option.
It has designed two levels of training to address the skills chasm, and courses include a foundation in cybersecurity for those who want to pivot to the sector, as well as more in-depth courses for professional development among more experienced cohorts already engaged in cybersecurity services.
Ready to elevate your career in cybersecurity? The Fintech Futures Job Board is the best place to start your search as it features thousands of jobs, like the three below.
Cybersecurity IT Analyst – Governance/Risk, Octagon Group, London
The Octagon Group is working with a global leading financial trading organisation based in Barbican, London to hire a Cyber Security IT Analyst.
With over 150,000 employees and over $1 trillion dollars in assets, this role is critical to the business. The ideal engineer will take responsibility for cyber security controls testing across the banking and securities businesses, against industry security frameworks (SOX, ISO27001, NIST Cybersecurity, etc.) and develop risk and control matrices, assess control design and develop testing strategies for testing successful operational performance.
Advanced Support Engineer – Oracle Cloud Security Architect, Oracle, London
As an Advanced Support Engineer at Oracle you will drive the delivery of products, security and compliance offerings tailored to the customers’ needs that can be leveraged in the on-premises, hybrid cloud and cloud environment. As such, you will support the sales team in leveraging customer-specific sales strategies, support all facets of cloud solutions and be recognised as the security domain subject matter expert (SME).
This role will also see you act as the security authority and engage with various stakeholders in complex projects.
Director – Information Security, Morae Global Corporation, London
Morae is hiring a full-time Information Security Director to join its London technology team to contribute to safeguarding information and system assets deployed globally against unauthorised use, disclosure, modification, damage, or loss.
The role serves as the focal point for information security implications to Morae’s technology environments and provides security advisory and consultation to extensive technology and business unit teams.
In this role you’ll be responsible for the end-to-end definition and implementation of the cybersecurity and compliance programme and work closely with broader technology, business, and product teams to define and meet cybersecurity and compliance targets.
For thousands of opportunities in cybersecurity and cloud technology, visit the FinTech Futures Job Board today!