Southern Management Solutions

Information Security and GLBA Compliance

Gramm-Leach-Bliley Act (GLBA) requires financial institutions have a written information security policy and to explain their information-sharing practices to their customers as well as how they safeguard sensitive data. Financial institution non-compliance can result in stiff fines and penalties. In today’s instant economy financial firms face unprecedented reputational risk through negative press / media attention including social media.

Southern Management Solutions can assist financial firms to comply with Federal Financial Institutions Examination Council (FFEIC) and accompanying enforcement agencies information security requirements. We can assist clients to manage their information security function through work we perform in the following areas:

• Information Security Strategy Reviews:  security strategy includes controls, processes and policies as well as defining roles and responsibilities across the organization.

• GLBA (Infosec) Risk Assessments: assessing controls over data in both physical and digital domains, and examining IT controls to ensure key areas are properly addressed in business planning.

• Security Controls Consulting: establish controls over data classification and restrictions, encryption solutions for data in storage and transmission, information security best practices for cloud computing, protection against malicious code, establishing proper oversight over third and fourth party service providers, incident response management, business continuity management, disaster recovery, evaluation of insurance coverage.