The big resignation creates IT security problems for financial companies

A man carries a briefcase as he walks through the Financial District on January 4, 2019, in New York City. (Photo by Drew Angerer/Getty Images)

The so-called “Great Resignation” following the recent pandemic has compounded already exacerbated IT security challenges for financial institutions.

According to a study by IT consulting firm Verint, the recent wave of full-time job departures has not only created an employee shortage, but also caused a shortage of skilled cybersecurity professionals – already a problem in various industries.

“The banking industry is facing a scenario where the Great Resign meets the ‘Great Recalibration,'” Jenni Palocsik, vice president, marketing analytics, experience and empowerment at Verint, said in a press release. “Banks are recalling furloughed staff,” Palocsik said, “reassigning team members who were solely dedicated to digital channels and rethinking how to adequately staff bank branches to meet fluctuating in-person service needs. .”

Verint’s research is based on a survey of 5,000 US consumers, released last month.

Example: Several cybersecurity professionals have left Morgan Stanley, looking for other positions in the financial sector or other sectors. Morgan Stanley has not commented on the departures of its IT security team, but reports indicate that IT security professionals are moving to other sectors.

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