The news: Banks used to consistently attract top cybersecurity graduates eager to work on Wall Street, but shifting workplace preferences have made it more difficult for financial institutions (FIs) to compete with other industries, per Deloitte’s financial services cybersecurity leader Mark Nicholson.
The details: Those preferences largely revolve around workplace flexibility. As the demand grows for cybersecurity workers, other industries maintain remote and hybrid work options while banks push employees back to in-office work. For example, JPMorgan will require its employees to work in the office five days per week, according to Fortune.
What this means for banks: Cybersecurity incidents cost banks money and customer trust, and many banks are vulnerable with significant gaps.