The big banks’ cybersecurity chiefs are not the average techies, traders or salespeople you generally meet in finance.
The chief risk officers to whom they sometimes report often come from a quantitative background, because their role, driven to seniority by the financial crisis, has been to ensure the complex financial risks banks run are managed in a way the regulators are happy with. But the security guys do not need to understand derivatives calculus, they need to understand how criminals and hostile states think and act.
“We hire people from the security services and from law enforcement because they can give you a realistic, granular view,” says one bank’s C-suite member.
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