Bank of England hosts its first face-to-face cyber security competition in London
London, UK – 4th May 2018 – There is an urgent need to find the people that will protect and safeguard businesses, people and their data. In response, a number of banks and financial institutions are investing in their cyber security, particularly personnel. Today, Cyber Security Challenge UK, a non-profit organisation dedicated to inspiring and enabling people to seek careers in the cyber security industry has partnered with the prestigious Bank of England for the launch of its first Face-to-Face cyber security competition of 2018. The competition will test 30 of the brightest untapped talents in the UK to identify the next-generation of cyber security experts.
The Face-to-Face competition takes place at the Bank of England’s historic and world-famous Threadneedle Street location, bringing together the 30 best performers from a series of qualifying tests entered by hundreds of applicants from across the UK. Competitors are aged from 16-58 with 60 percent in secondary or further education, and two-thirds participating in their first ever Cyber Security Challenge UK event. The participants will work in teams to complete a series of banking-themed games and challenges developed by the Bank of England’s own security team. Each task has been specially created to simulate the experience of working as part of the security team at a leading financial institution while testing the technical and personal skills that set the best cyber security professionals apart.
“As an organisation responsible for technology that settles some £575 billion sterling payments and securities every day; acts as the Governments’ banking institution; supervises the financial industry; tracks all bank notes in circulation and circa £140 billion of gold deposits in the vault; it is little wonder that cyber security is at the forefront of the Bank of England’s agenda,” said Rob Elsey, Executive Director for Technology. “We’re well aware of the skills shortage in the industry and are committed to supporting efforts to encourage the next generation of cyber professionals. So after sponsoring Cyber Security Challenge UK for a number of years we’re delighted to take our involvement to the next level by hosting this face-to-face event.”
During the full day of competition, participants will be faced with a variety of fast-moving challenges including combatting and containing a cyber attack; planning and improving a security architecture; educating staff to protect themselves from phishing attacks; and carrying out a forensic investigation in the aftermath of an attack. The top performing players on the day will secure a place at the end of year final in October which will crown the rising stars of UK cyber security. Outstanding participants also have the chance to be invited to interview for a place on the Bank of England’s own security team.
“The UK is in a great position to be a world leader in cyber security, however, to achieve this it needs to continue to focus on identifying talent. Having organisations such as the Bank of England support our mission, shows just how important it is to UK businesses and the financial industry,” said Colin Lobley, CEO of Cyber Security Challenge UK. “For the UK to become a true leader in cyber security, we need to reach the untapped talent that already exists in the country. Not only will this help close the skills gap that we are seeing, but also greatly increase the diversity of people entering the industry, which is the key for success.”