Tips for Financial Institutions to Enhance Your Information Security Policies

Information Security policies are the foundation of a strong information security program. Organizations must implement policies to manage and safeguard the protection of information and the systems that access, gather, share, store, process, and transmit information.

It is important to keep in mind that information security policies set forth “the rules on engagement,” in an organization. In addition, policies must be aligned with the business mission, and ensure they cover the minimum security requirements of regulatory compliance guidelines.

Whether you choose the ISO-27002 framework and standards, or your organization has the need to comply with the PCI-Data Security Standards, GLBA or HIPAA regulations, the foundation of any of the previously mentioned regulatory frameworks or industry standards is having well defined information security policies. At a minimum an information security program should include the following policies:

  • Access Management Policy
  • Password Management Policy
  • E-mail Policy
  • Internet Acceptable Use Policy
  • Disaster Recovery Policy
  • Data Classification Policy
  • Monitoring and Auditing Policy
  • Incident Response Policy
  • Encryption Policy
  • Consequences for non-compliance Policy
  • Backup and Restore Policy
  • Physical Security Policy

The following are basic tips that will help you enhance your Information Security policies:

  • Take the time to perform a thorough review of your current policies
  • Make sure that your information security policies are aligned with your business strategy, and that they address your regulatory compliance guidelines
  • Remember, policies should be actionable, useable, workable, and realistic
  • Communicate your organization’s information security policies outlining the expectations for the appropriate use of these systems, as well as the consequences for inappropriate use
  • You must review your policies at least once a year to ensure they are continuing to be applicable
  • Get help from a service provider/consultant with experience in policy development and management so they can help you review and update your policies.

References:

NIST SP-800-100 Information Security Handbook: A Guide for Managers
Writing Effective Information Security Policies (2007). Source: https://www.bankinfosecurity.com

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Erick Bacallao joined Champion Solutions Group in 2015 after a career of Software Development in Cuba at the National Cancer Care Institute of Cuba, followed by moving to the States with allAware.

 

Champion acquired allAware and its properties and Erick has utilized his extensive background and expertise in IT and Software Development to rise to VP of Product Development in less than 5 years. During this time, Erick has been involved with key projects that led to the launch of numerous products including CSP Boss, Inscape platform and 365 Productivity Insights.

 

Erick has a Bachelor of Science in Computer Science from the University of Havana. He won Gold Medals for Programming from the Ministry of Education in Cuba, and he is certainly still a Gold Medalist for Champion!

 

As President and CEO, Chris is responsible for the development of key strategic alliances and solution portfolio. He leads Champion’s go-to market and execution strategies for integrated offerings in the cloud, in security, and in digital infrastructure, always focusing on improving the customer experience and driving transformative business outcomes.

 

He also aligns key partner initiatives with company strategy and oversees corporate marketing and messaging to gain mindshare with customers and partners. It’s his vision and innovativeness that have catapulted Champion up the ranks to become a $100M+ organization—and one of the most respected solution providers in the industry.

 

Over the past two decades, Chris has also focused on mergers and acquisitions, as well as innovative product development. He is the original founder and an active member on the Board of Managed Maintenance, Inc., a SAAS provider and consulting firm that utilizes their award-winning One-View Portal to help the IT Channel and its customers manage their IT Maintenance.

 

Chris is also the original founder and chief strategist behind one of the original storage cloud providers, Storage Access / BluePoint. During the course of a few short years, he had raised $20M and took that company public on the Toronto Stock Exchange. It has since been acquired by Pomeroy.

 

In 2012, Chris led the acquisition of MessageOps and continued the product development and worldwide launch of its premier SAAS, 365 Command. Built on Microsoft Azure, 365 Command is currently managing over 1 million seats of Microsoft’s Office 365. After achieving this phenomenal milestone, 365 Command and other MessageOps O365 utilities were sold to Kaseya.

 

Over the past 35 years, Chris as worked tirelessly to not only advance his own career, but those of his employees. In addition to leading a $100M organization, Chris can also be found sitting with sales teams, cold calling and coaching, and validating why Champion has been listed on Best Places to Work by both South Florida Business Journal and Computerworld.

Ultimately, the success garnered by Champion Solutions Group, its associated companies, and their employees is due in large part to the leadership of its President and CEO. Perhaps the most fitting award Chris has earned is South Florida Business Journal’s 2013 Ultimate CEO Award.