Working in Finance

In the UK financial sector, information technology has become the backbone. Information technology, or IT, has emerged as such an important part to any financial service provider’s success because of the need for information. Banks need to maintain updated information on their client’s accounts in order to keep their business and help them function on a daily basis. Financial advisors need to have the latest information on interest rates, accounts, and other factors which may affect their advice to clients. In the end, IT networks have become the single most powerful determinant of a firm’s success or failure in finance.
A vigourous IT network is not immune to the problems of the outside world. Networks can be hacked into or connected to malicious networks, which may be used to steal information or funds. IT security in the financial sector is crucial for a company that wants to maintain the highest standard of service to their customer. After all, it makes little sense to spend hundreds of thousands of pounds on new equipment only to have it broken into due to poor security. Identity theft and viruses alike can harm a firm’s efficiency and their trust in the community.
IT professionals who have an interest in security issues are benefiting greatly from the concern over identity theft. IT security jobs in the financial sector, not to mention other sectors, have become more important over the last five years. Essentially, IT security professionals assess the needs of their employer and determine the best course of action to ensure long term security. Simple solutions, like keyword protection and virus scans, are not so simple when they are multiplied by hundreds of computers. IT security professionals who take financial sector positions need to realise the issues that arise regularly in their job.
IT security threats are constantly changing, with new viruses emerging daily to replace ones that were eliminated by network security. IT professionals need to be on top of these new threats before they happen, a tricky proposition for even the best worker. However, security workers in the financial sector also need to consider the business aspect of their profession. IT departments in general, and security specifically, does not have an endless amount of funds to fight short and long term problems. While financial service firms are investing more heavily in IT security than ever before, it is still limited when compared to other departments. As such, IT security workers need to balance good solutions with budgetary concerns.