McBride Financial Security Policy
Praful Dixit
McBride Financial Services is a regional residential mortgage lender centrally located in Boise, Idaho with satellite office locations in Wyoming, Montana, North Dakota, and South Dakota. McBride Financial intends to leverage technology to become the preeminent leader in mortgage lending in the Mid-West. As discussed in our consulting interview process with Mr. McBride the key area of concern is the safety of his clientele’s information and protecting it from internal as well as external threats.
The daily business model for McBride Financial consists of customers coming into the office and going online to complete an application for a mortgage loan. Processors, loan officers, underwriters, and closers then use the information obtained from the application to process, approve, and close the mortgage loan for their clients. Due to the nature of the information exchanged during the transaction Mr. McBride is focused on working with Smith Systems Consulting to create an environment that is both physically and virtually secure to protect his customers data.
Security Risks & Concerns
The biggest security risk that is faced by McBride Financial is the sharing of information across all office locations and the Internet with the central office. Breaches of the information system network used to store and share this information would severely negatively impact the image of McBride Financial as well as the financial and legal ramifications that come from failing to protect customer’s information. Mr. McBride is also concerned with the current regulations that impact the financial industry and how they require you to secure customer data. Ensuring that McBride Financial Services is in compliance with the Gramm-Leach-Bliley Act (GLB), Sarbanes-Oxley Act, as well as others is paramount in guaranteeing the financial safety of McBride Financial and its customers. In reference to the GLB Act there are...