I Need An A3 Page With At Least 4,000 Words

I Need A3 Page No More Than 4 Minimum Of 800 Wordswritten In Apa Fo

I need a 3-page paper, no more than 4 pages, with a minimum of 800 words, written in APA format. The paper must be 100% original, verified through plagiarism checking, and include at least 3 credible references, one of which must be the cited source regarding McBride Financial Services and their internet-facing loan application. The content should be based on the security policy for McBride Financial Services, a virtual organization, specifically focusing on their loan application process accessible via the internet, with some processing functions available on the intranet.

The paper should analyze network security concerns related to the loan application system, including how the data is protected during transmission, storage, and processing. It should discuss security measures such as encryption, access controls, and authentication methods like complex passwords or two-factor authentication. Consider the physical security measures preventing casual access to data within the organization, and the policies ensuring data confidentiality and integrity, especially given the sensitive financial data involved in loan processing.

Additional considerations include how the organization prepares for disaster recovery to ensure data survival, protection against unauthorized access, and compliance with relevant regulations like the Privacy Act. The policy should be targeted specifically at the loan department, integrating relevant company policies while excluding unrelated areas such as physical building security measures that do not directly impact the loan department. The goal is to develop a security policy informed by the perceived needs of the department, addressing potential vulnerabilities and establishing safeguards accordingly.

Paper For Above instruction

The increasing reliance on internet-based applications for financial services necessitates robust security policies, especially for organizations like McBride Financial Services, which handle sensitive customer data during the loan application process. This paper explores the development of a comprehensive security policy targeting the loan department’s specific needs, considering network vulnerabilities, data protection, physical security, disaster preparedness, and compliance with regulatory requirements.

Network Security and Data Protection

Given that the online loan application portal is accessible through the internet, McBride Financial must implement multiple layers of security to safeguard confidential financial data. Data transmitted between applicants and the organization should utilize strong encryption protocols such as Transport Layer Security (TLS) to prevent interception and eavesdropping during transmission. Data stored within the organization should be encrypted at rest using advanced encryption standards (AES), ensuring that even if storage media are compromised, the data remains inaccessible to unauthorized users.

Access to sensitive data is controlled through multi-factor authentication (MFA), which combines complex passwords with additional verification factors such as one-time codes sent via mobile devices or biometric authentication. Only authorized personnel within the loan department should access the data, enforced through role-based access control (RBAC) mechanisms. The application itself should incorporate regular security audits and vulnerability assessments to identify and mitigate potential weaknesses.

Physical Security Measures

Although the primary focus is on digital safeguards, physical security remains vital. The loan processing areas must have controlled access, such as badge systems and biometric scanners, to prevent casual or malicious entry by unauthorized individuals. Data servers and backup storage devices should reside within secure facilities with environmental controls, surveillance cameras, and restricted access policies. Physical documents, if any, must also be secured in locked cabinets or safes when not in use, aligned with organizational policies on data confidentiality.

Disaster Recovery and Data Resilience

Robust disaster recovery plans are essential to ensure data resilience. McBride Financial should maintain regular backups stored in geographically separate locations, employing cloud storage solutions with encryption to facilitate rapid recovery in case of system failure, cyberattack, or natural disaster. These backups should be tested periodically to confirm restoration procedures work effectively, minimizing downtime and data loss. Critical systems need to have redundant hardware and failover protocols to sustain operations during emergency scenarios.

Data Privacy, Compliance, and Perceived Needs

Security policies must also address regulatory compliance. For McBride Financial, adherence to the Privacy Act and other relevant regulations involves implementing data minimization principles, ensuring only necessary data is collected and processed, and maintaining audit trails of access and modification activities. The policy should specify how data is anonymized or pseudonymized when applicable, further protecting customer privacy.

Department-Specific Policy

As this policy pertains solely to the loan department, it should build upon the broader organization’s security framework but include specific protocols relevant to loan data processing activities. For instance, staff dealing with loan applications must undergo specialized training on data security and privacy, and their access rights should be limited to the minimum necessary to perform their duties. Badging and physical security requirements should be tailored to the loan department’s facilities, without redundantly covering unrelated organizational amenities.

Conclusion

In conclusion, safeguarding the internet-facing loan application system at McBride Financial Services requires a multifaceted security approach. By combining encryption, strict access controls, physical security, disaster recovery planning, and compliance adherence, the organization can mitigate threats and protect sensitive financial data. Developing a department-specific security policy grounded in perceived organizational needs ensures that the loan department remains resilient against cyber threats and operational disruptions, thereby maintaining trust and integrity in its financial operations.

References

  • Apollo Group, Inc. (2011). McBride Financial Services. Retrieved from CMGT/441 - Introduction to Information Systems Security Management.
  • Stallings, W. (2017). Cryptography and Network Security: Principles and Practice (7th ed.). Pearson.
  • Schneier, B. (2015). Data And Goliath: The Hidden Battles To Collect Your Data And Control Your World. W.W. Norton & Company.
  • Kim, D., & Solomon, M. G. (2016). Fundamentals of Information Systems Security. Jones & Bartlett Learning.
  • Peltier, T. R. (2016). Information Security Policies and Procedures: A Practitioner’s Reference. CRC Press.
  • Ross, R., & McEvilley, M. (2019). Cloud Security and Privacy: An Enterprise Perspective on Risks and Compliance. O'Reilly Media.
  • Rogers, M. (2018). Physical Security and Risk Management. CRC Press.
  • Williams, P. (2020). Cybersecurity Essentials. Hoboken, NJ: Wiley.
  • Gordon, L. A., & Loeb, M. P. (2002). The Economics of information security investment. ACM Transactions on Information and System Security, 5(4), 438-457.
  • Johnson, M. E. (2019). Implementing an effective disaster recovery plan. Journal of Business Continuity & Emergency Planning, 13(2), 114-121.

Related Assignments