Homeland security report sample

Understanding, Threats, Vulnerabilities and Consequences

Chosen Organization – Citibank (A Citi Group Banking Company)
About the Company
Citibank is a part of the Citi Bank Group that offers a wide array of banking needs, products and services to millions of consumers, governments and commercial organizations. This business organization thrives in serving over a million clients with financial services that deliver consistent client-centric such as retail banking, credit cards, retail services and mortgage (Citigroup. com). The chosen organization is a commercial business that belongs in the banking industry. It is an organization that has strategically placed itself in key locations around the world where major financial institutions can be found.

Why the Organization was Chosen?

Citibank was the chosen organization to be subject of this report because of the nature of its business that is vulnerable to several threats that are stipulated in the table of threats provided herewith. In addition, the organization is also a part of the industry where vulnerabilities constitute underlying risks that have consequential impact not only to the business itself, but to the economy as well. Banking organizations play a significant role in the economy, wherein business crisis threatens social stability. Another rationale for choosing Citibank as the subject of this report is that the company is among the biggest the world. Therefore, any hints of vulnerability to threats may result to a major financial struggle in the banking industry that will later manifest in the socio-economic status. Commercial banks such as Citibank caters to large number of consumers, commercial organizations, towns and cities. The organization also provides credit and lending facilities that are designed to sponsor development in particular areas. Threats and vulnerabilities that have a direct implication to the organization’s banking operations may pose a consequential effect to the furtherance of development in the area (Monnin and Jokipii, 2005). In order to assess the underlying threats, an interview with at least two individuals connected to the organization will be facilitated to get their insights about the possible threats that may impact the chosen organization.

Interview

Description of Interview Correspondents
An interview with key correspondents connected to the organization was facilitated in order to identify threats and vulnerabilities. However, due to the sensitivity of the nature of their relation to the company, they preferred to be remained anonymous. The first individual interviewed is a bank Branch Manager (location undisclosed). He is the head of the bank operations and particularly concerned about the managerial aspect of the business in the branch. Above all the individuals working the Citibank branch, the branch manager is responsible in overseeing the entire operations and is primarily responsible in mitigating any risk that may arise in the day-to-day operations. His role is also centered in identifying vulnerabilities of the business in his designated branch and accountable in mitigating the resulting consequences. The second individual interviewed was one of the bank teller identified only by the name of “ Sarah” she is currently a senior teller with over five years of experience working at Citibank and now in line to become a supervisor. As a mid-range management staff, she is also aware of the threats and vulnerabilities that the business may encounter on a daily basis.

Reason for Choosing the Interview Correspondents

The rationale behind choosing the two correspondents is primary due to their level of experience in the organization, which is crucial in identifying threats and vulnerabilities. The branch manager for instance is in the position to both identify and mitigate any business crisis that may arise. His position is essential in the managing the organization on the branch level and the amount of managerial expertise he possess is important in understanding the consequences that would result in neglecting the threats. The senior bank teller and soon to be supervisor belong is both staff and mid-range management level position. The reason for choosing her for the interview is to determine whether or not a mid-range staff also understands risks involve in the business and also to determine if a staff level employee has the initiative and skill to contemplate on the possible resolutions to the identified threats and vulnerabilities. Part of the goal of the interview is to list down all the disasters and catastrophes that the organization would be possibly facing in the next two to five years. These threats have the probability to disrupt the bank’s business operation and how they would react to the resulting management crisis. Below is the table indicating threats and vulnerabilities listed from interviewing the two correspondents from Citibank.

List of Threats and Vulnerabilities

Analysis
Based on the listed threats and vulnerabilities the most eminent risk comes from the possibilities of technological disasters brought by cyber attacks and terrorism. It is apparent from the list the consequential result of such threats will lead to primarily financial losses. Financial loss is the key ingredient to economic instability. If there would be instances of constant attacks to the organization’s system and financials, the accumulating loses would result to management problems that lead to closures and ultimately to bankruptcy. Other threats and vulnerabilities also include natural disasters that in anyway cannot be avoided. In addition, the most probable consequences that would result in catastrophic events would be loss of establishment. Earthquakes for instance may threaten to destroy commercial buildings where the organization is situated. Losing an establishment to natural disaster would generally result to lose on both assets and financials gains. Bank operations would be disrupted, which may result to non-servicing clients who are also in need of financial assistance due to the occurring natural disaster (Ashford, 2012). In terms of political and social threats, the organization is also vulnerable to loses and management crisis due to system infiltrations. Attacks made on bank systems compromises data loss and exposure of pertinent client information resulting client information being used for fraudulent activities. Biological, chemical, firearm and other forms of disaster appeared to have indirect implications to the organization, but their resulting consequences are veered towards social instability, which in return impacts the industry where the organization belongs.
Analyzing the table suggests a particular pattern in vulnerabilities and consequences. For instance, natural disasters occur yet they do not target the organization directly. However, the result of natural disasters amplifies social financial needs, which the organization as a bank has to sustain. Such need may overwhelm the organization, which would result to management crisis. Another eminent pattern that can be perceived from the list is the probability of technological disasters caused by cyber attacks, terrorism and fraudulent activities. The most apparent pattern coming out of the described vulnerability is the resulting financial loses, which is evidently an ingredient for business disaster and closures.
In relation to the all-hazard management approach, the perceived threats and vulnerabilities requires integrated approach to identify risk management programs necessary to mitigate the problems. The use of systematic manner of reporting may also suggest a mitigating approach to counter the occurring problems. Disasters for instance are a result of a vast ecological breakdown that has a direct implication to the majority of the affected population (Tophc. ca, 2007). The result of the events stricken communities on large scale that often requires financial aid, which the organization plays a significant role. However, if the organization itself were also affected by disasters, there would be more complicated consequences that even the financial aiding organization would require the same help. In the all-hazard management approach, the simple model only suggests four simple steps for response. The first one is mitigation, followed by preparedness, response and lastly, recovery.

Recognizing and Mitigating Disasters and Crises

Recognizing and mitigating disasters are often difficult for the people that are directly affected by it. As a result, the mitigating process takes too long or sometimes difficult to be initiated. There are reasons why organizations such as Citibank find it hard to recognize potential business crises because they are confident about their preparedness. However, contingency plans are not sufficient to avoid business crises because there are external factors that might implicate a more difficult situation for the organization. More often than not, owning the responsibility is also an apparent problem that the organization have with their people. There is a few management staff that excludes themselves from the obligations and responsibilities of owning the problem and finding solutions. Therefore, without the cooperation of the people within the organization, there would be a huge possibility that the problem would not be recognized and mitigated. The lack of dedication to the responsibilities and duties of the key individuals makes it difficult for the organization to formulate an effective mitigating process. Another issue is that organizations such as Citibank belong to an industry where information is constantly held confidential from the public. The bank culture implements total secrecy of information pertaining to the clients. During times of disasters, organizations find it hard to recognize the problem and mitigate them due to the notion that they are not accountable as long as it does not insinuate financial concerns.

Insights

The most important insight gained from this report is the fact that even commercial organizations such as Citibank are also vulnerable to several threats. Vulnerabilities occur if the organization regardless of size does not own their social responsibility to mitigate problems that actually has a direct implication to their own business. Threats may come in different forms; they could be business related or a natural disaster. However, their consequential effects are the same for everyone. The organization will be affected one way or another and the only means to avoid any disaster is to create a program that includes a plan that will focus on anticipating threats, creating timely response and formulating recovery. This idea can be applied to work or home by means of practicing the method of approaching threats on a domestic level. For example, threats at home brought by economic meltdown will result to financial difficulties or loss of employment. However, the problem can be mitigated by being prepared, saving for the future or finding alternative source of income.

References

Ashford, W. (2012, July 3). Cyber threats affect banks worldwide. ComputerWeekly. com. Retrieved February 24, 2013, from http://www. computerweekly. com/news/2240160539/Cyber-threats-affect-banks-worldwide
Citigroup. com (n. d.). About Us – Consumer Businesses. Citi | Home. Retrieved February 24, 2013, from http://www. citigroup. com/citi/about/consumer_businesses. html
Critical Infrastructure Resource Center – Sector Information. (n. d.). National Preparedness Directorate National Training and Education Portal. Retrieved February 24, 2013, from http://training. fema. gov/EMIWeb/IS/IS860a/CIRC/bank1. htm
Monnin, P., & Jokipii, T. (2010). The Impact of Banking Sector Stability on the Real Economy. Swiss National Bank Working Papers.
Tophc. ca (2007). Rethinking the All-Hazards Approach – Moving from Response to Preparedness. www. tophc. ca. Retrieved February 24, 2013, from http://www. tophc. ca/Documents/I. 06%20-%20Wed%20Apr%206%20300P%20-%20Dockside%206%20-%20Judyth%20Gulden%20-%20All%20Hazard. pdf
Statement Attesting to Original Work
This research, paper about the report of the Homeland Strategic National risk Assessment section which I have signify with my full responsibility and acknowledgement, is my own work any associate information in harmony with this application will be accredited in my academic practice. Such as Tables, pictures, quotes, words and other valuable information it may sight. Moreover, I officially stating that this submitted part is my significant work and has not been submitted to any elsewhere for a purpose on completing the class requirements may be needed for a professional publication, journal review or certification plagiarism. In added, to that I included my ‘ Signature’, as a proof of originality and authority and authenticity as a true executed document with my hand-written signature.
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