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Developing a security program in Banks of America

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Added on  2021-01-02

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1 Developing a security program in Banks of America Banks of America is the multinational financial service provider which provides support to those who need funding and investment for different purpose it is dealing with highly secured data on a regular basis as basic operation of the company is to deal with large financial sources of data. Following functions are needed to implement info-sec programs such as Risk assessment, management, system testing, policy legal assessment, incident response, planning, measurement compliance etc.

Developing a security program in Banks of America

   Added on 2021-01-02

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Developing a security program in Banks of America_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3Developing a security program in Banks of America ................................................................3Roles and responsibilities of security management staff members in preventing the securedinformation..................................................................................................................................6Provide a plan to make these changes incorporating training requirements...............................7ISO Security standards and determine the suitable standard for Banks of America..................8Sustainability of certification, threats and risk assessment.......................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................132
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INTRODUCTIONInformation security is referred as state of protecting the confidential information oforganization in order to prevent data from unauthorised users. Info-sec is considered as practicewhich is performed to prevent use of highly secured data from unauthorised people. This protectsthe data from hacking and other malpractices which destroy potential capabilities of informationsecurity. The present report is based on the information security of Banks of America whichdeals in wealth management and bank investment corporation. The study will provide someaspects of developing security program in an organisation. This report will also cover theplanning strategies to provide the security to confidential information and it also focuses ontraining requirements of such incorporated changes in enterprise. Also, roles of current securitypersonnel with appropriate suggestions in order to implement new planning to prevent securityof information. It will also provide the ISO/ IEC 27000 series of information securitymanagement and furthermore and risk assessment strategies and threats.Developing a security program in Banks of America Banks of America is the multinational financial service provider which provides supportto those who need funding and investment for different purposeit is dealing with highly secureddata on a regular basis as basic operation of the company is to deal with large financial sourcesof data. Information security programs describe structure and efforts of the security managementstaff members to minimise the risk in order to provide quality based and integrated data servicesto customers (Ahmad, Maynard and Park, 2014). These type of institutions require highinformation security in order to facilitate the large funding to other companies or to individual. Huge amount of financial data in banks of America need to be protected against thecriminal practices such as cyber-attacks and protection of information from unauthorised user.Following functions are needed to implement info-sec programs such as Risk assessment,management, system testing, policy legal assessment, incident response, planning, measurementcompliance etc. description of these security programs is enumerated below:1.Risk assessment:this can be termed as analysing and identifying the risk elements of theBanks of America. It is helpful in determining correct implementation of new strategiesfor securing the data and information.3
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2.Risk management:This can be considered as finding alternative solution of those riskfactors which are assessed. Security management are able to identify course of action forpreventing threats and risks in maintaining the confidentiality.3.System testing:the purpose of this program is to implement new concepts and analyseworking impacts of this new methodologies which is applied in order to eliminate riskfactor from banks.4.Policy:These are considered as plans and procedures which are adopted to overcome thedrawbacks of previously used security policy. This helps in an effective management ofinformation security in Banks of America.5.Legal assessment:It can be referred as the government rules and regulations which areused to formulate the operational functions with legal standards and process ofgovernment.6.Incident response: This is determined as measures which are taken to overcome thechallenges of information security management (Baskerville, Spagnolett and Kim, 2014).Application of appropriate course of action according to risk assessment are termed asincident response to risk.7.Planning:Banks of America apply various strategies and planning procedures to providehigh security to the financial information of banks. Security management is applyingfunctional risk assessment function to overcome threats of company.8.Measurement:These can be considered as the actions which are taken to avoidinformation security risk of Banks of America.9.Compliance: The purpose of this function is to provide quality service to customers. Thisis generally adopted to verify system and network administrator to provide requiredtreatment to security risk of bank.10.Centralised authentication:This program is often used by security managementadministrator to control the activities of risk management as a whole.11.System security administration:The task is generally performed by manager of Banks ofAmerica to develop security program in Banks of America.4
Developing a security program in Banks of America_4

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