Could not load package because of error 0xC0011002. Failed to open package file due to error 0x80070005 "Access is denied."

Came across this error while executing a SSIS package through a SQL Agent Job on a SQL Server 2008 server.The job is running under a windows security account and the SSIS package is stored on file system of the server. The exact error message received was as shown below. Executed as user: Domain\User. Microsoft (R)…

2