Run package from SQL Server - EncryptSensitiveWithPassword

Hello,

I've created a package (not project) targeting SQL Server 2014 and have deployed it to a SQL Server instance of that version. The package contains a password in a Connection Manager so I have set the package ProtectionLevel to EncryptSensitiveWithPassword. This has the desired effect of requiring me to enter a password when I open the package or when opening the Job Step in SSMS. However, it doesn't stop me from running the package in a Job Step which is a surprise to me.

Looking at the 'Command Line' for the Job Step I can see that it includes the /DECRYPT parameter but with no value:

/FILE "\"\\<server>\D$\Program Files\<Path to dtsx>\""
/DECRYPT 
/CONFIGFILE "\"D:\Program Files\<Path to dtsConfig>\""
/CONNECTION "\"<Conn1>\"";
            "\"Service Document Url=https://<Path to svc>;
            Include Atom Elements=Auto;
            Include Expanded Entities=False;
            Integrated Security=False;
            Cookie=\"\"<value>\"\"
            ;User ID=<userID>;
            Persist Security Info=False;
            Time Out=600;
            Schema Sample Size=25;
            Retry Count=5;
            Retry Sleep=100;
            Keep Alive=False;
            Max Received Message Size=4398046511104\""
/CHECKPOINTING OFF
/REPORTING E

Can a password protected SSIS package be successfully run from a SQL Server Job Step without a password?

Thanks,

Mike