What are the asset's security requirements in banking?

Answer 1

The question may be asking about asset (as in bookkeeping) and security (as in collateral on a loan) rather than 'computer security'.

From a computer security standpoint, the requirements would include:

• establishing records retention requirements for audit papers - since these can be electronic records, a policy and means to retain them and be able to locate the relevant records is required. Section 802 of the US Sarbanes-Oxley law mandates that companies and their auditors maintain accounting documents and work papers for a minimum of seven years.
• establishing controls to protect the confidentiality of banking records - preventing unauthorized access to them
• establishing controls to protect the availability and reliability of systems handling banking information
• establishing controls to protect the integrity of banking information - no unauthorized changes to the records (think in terms of someone trying to conceal fraud, embezzlement, etc.)
• establishing regular system auditing - to identify security breaches, unauthorized activity, suspicious activity, system failures, etc.

Senior management can't just certify controls ON the system, these controls also have to control the way financial information is generated, accessed, collected, stored, processed, transmitted, and used through the system - this means implementing appropriate controls to ensure the confidentiality, integrity, and availability of banking information