Make Sure They Know!

We may complain at the expanded role of the security officer under the new Regulation P, but most security officers know that the overhaul and update is long overdue. But one large worry is the fact that the security officers now have to shoulder a large part of the responsibility over something not under their total control.

The evaluation and research on what is needed can be done by the security officer, and the implementation and training can also be accomplished with skill and efficiency. The need for additional security devices will be assessed, the recommendations written, the reports made.

But the final decision on whether to take the steps and spend the money to accomplish the degree of security that the security officer deems necessary is not in the realm of the decision making of most security officers.

The regulation very clearly states that the responsibility for the security of the institution and it's assets is that of the board of directors and the security officer.

If the security officer's recommendations are blocked and rejected at the administrative level that stands between security and the board of directors, there was little the officer could do about it.

Where must the security officer go for support? The most significant modification of the regulation is the requirement that the security officer must report at least annually to the board of directors on the effectiveness of security programs. This provision was included to ensure that the directors hear frequently from the security officer and stay informed of the status, concerns and plans of the security program.

Once the directors are aware of that liability, they're going to want to hear from the security officer more often than once a year!

NEW SKILLS
If you are a security officer, you are going to develop some new skills-those of sales/marketing/public relations/author. You must sell the board and administration on the measures needed to achieve the level of security necessary. The recommendations must to be backed by research, data, interviews-and worded in such a way that management cannot misconstrue the message.

Some quality time must be spent on those reports. And every recommendation should be documented with a memo. Keep a complete file. You may need it to defend yourself in court someday.

Even the part-time security officer needs to be concerned about the accountability and liability shared with the board of directors. Be sure your board is fully aware of that liability.

Copyright © 1991 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 2, No. 4, 5/91