Case Study: Security Risk Management
Client Challenge
After a series of security incidents at various corporate locations, the Chief Operations Officer of a large multinational corporation was left with a pressing concern: How did these breaches occur despite having a seemingly robust physical security system in place? The corporation had engaged multiple security firms across their domestic portfolio to manage their physical security across all locations. These systems were expected to not only prevent such incidents but also provide comprehensive response options for subsequent incidents. The corporation, lacking a dedicated Chief Security Officer or in-house security experts, had depended on these third-party contractors for their physical security needs, but they lacked the expertise to verify the effectiveness of the security measures in place.
Banyan Solution
Assess Current Process and Identify Gaps
Banyan Risk Group was called upon to conduct a thorough audit of the corporation's physical security systems across all locations. Our seasoned security professionals reviewed and audited the current incident response procedures, evaluated the performance of third-party vendors, ensured compliance with legal and regulatory requirements, and created hypothetical violent incident scenarios to test the current procedures. The audit revealed that the corporation's security systems had been inadequately implemented from the start. The third-party contractor had set up the system incorrectly and failed to realize its deficiencies throughout their deployment.
Design and Plan Improved Incident Response Process
Banyan developed a more effective and efficient incident response plan. Our team reevaluated relationships with third-party vendors, renegotiated contracts and identified new vendors that reported to our project management office as a measure of both standardizing best practices and holding these service providers accountable to the client.
Implement New Incident Response Process
The new incident response process was initially implemented at pilot sites, followed by full implementation across all locations. Banyan Risk Group onboarded and retrained third-party vendors, developed a program to educate employees about the revised incident response process, and carried out regular incident response drills to test the efficacy of the new response procedures.
Client Impact
Banyan guided the in-house operations team as they revamped the corporation's physical security infrastructure, implementing comprehensive security measures across all locations, vetting a new security system and verifying its installation, and conducting regular security checks to ensure the client's assets, employees, and operations were secure from potential threats in the future. With Banyan Risk Group on call to answer queries and consult on emergent issues, the COO can now concentrate on their strategic goals while the operations team confidently handles the day-to-day security management.