Mcbride Financial Security Policy Paper Essay Example

McBride Financial Security Policy The following policy is in response to McBride Financial Service's request to develop a security policy that will address its loan departments current needs as well as any issues that may arise involving online loan applications. McBride's target market comprises of an upscale demographic. Most of the individuals that request mortgages through this company are professionals, retirees, and families purchasing their primary or secondary home.(University of Phoenix, 2005) This is a market who is customarily aware of any changes to their personal information and/or financial records. Therefore securing this information is of extreme importance and essential to the longevity of McBride Financial Services. The new security policy for the loan department will include areas, such as: Physical Security, Data Backup, Account Access Controls, Training, and Non-Compliance. The implementation of McBride's new electronic key cards provides an excellent source of control in the area of physical security. Employees will now only have access to areas that they are authorized to there specific authorization level. Any unauthorized access to any area of any McBride facility will be punishable in accordance with McBride's Non-Compliance Policy. A service charge may be assessed for access cards and/or keys that are lost, stolen, or are not returned. (The Trusted Toolkit, 2007) Lost cards will also be immediately deactivated at the release of a new card. Card access records and visitor logs must also be kept current for routine review based upon the needs of the company. When processing a loan application, McBride is privy to a large amount of sensitive customer information including, but not limited to, the customers credit report. Therefore, the protection of this data is of vital importance. In order to protect data from loss, equipment failure, or intentional destruction, all mortgage applications and associated data will be backed up to