Essay on Risk Assessment: Mcbride Financial Services

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McBride Financial Services is a virtual organization at University of Phoenix that provides mortgage services for its members. McBride has as its stated goal to be a "preeminent provider of low cost mortgage services using state-of-the-art technology in the five state areas of Idaho, Montana, Wyoming, North Dakota, South Dakota." McBride provides serves for three primary groups of mortgage seekers: professionals purchasing a primary or secondary residence, retirees purchasing a primary or secondary residence, and families and/or individuals purchasing recreational properties.…show more content…
• It has to define a measure of risks in each business consistently across the firm.
• Initiate procedures for risk managing at the point nearest to the assumption of risk.
• Develop databases and measurement systems in accord with business practices.
• Install comprehensive risk management system to evaluate individual, business, and firm level performance.
Therefore, a Risk Assessment and Management project team must be formed to conduct a thorough analysis of the system and provide recommendations and policies to deal with disaster. At McBride, the design of the system network will affect security, auditing and disaster recovery, therefore a comprehensive analysis of the network design, security and disaster recovery will go a long way to mitigate against possible risks.

Disasters, Backup and Recovery Plan
McBride has to have data based on analysis of risk factors based on their likelihood and progressive nature of occurrence available to develop the backup and recovery plans. This data may be used to develop effective and balanced measures for loss prevention, mitigation, and recovery.
Disasters can be classified into three broad categories:
• Technical Disasters: Equipment Failure, Database Service Failure, Software Failure, Loss of Power, Loss of A/C.
• Natural Disasters: Fire, Tsunami, Flood, Earthquake, High Winds, Airplane Impact, Human-Caused Disasters: Theft, Vandalism,

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