Are your building security policies attractive to financial sector tenants?

Rudy Grippo • April 28, 2023

Financial sector firms have stricter and more complicated security requirements than almost every other sector. Regulators place more stringent burdens on financial companies. Customers expect nothing less than the best.

Failure to adhere to regulators isn’t an option. Our money, financial assets, and policies need to be carefully looked after.

In this sector, the importance of having good office security is mission-critical.

So, for commercial real estate property owners and managers, if you want to secure financial sector clients, you need to offer the very best in office and cybersecurity.

Real estate security for financial firms

Financial sector firms have a long list of security policies, processes and procedures they operate in.
Regulators demand exceptional levels of security and compliance. From Know Your Customer (KYC) requirements to multi-layered data management, regulatory compliance is something every staff member is trained in.
Office security is important because financial companies need to deliver on regulatory security compliance every day. This is crucial to avoid potentially damaging reputations, customer confidence, or receiving regulatory fines.
Departmental heads and managers in operational, technology and security roles are tasked to meet, overcome and innovate around these challenges. When it comes to picking new office space, there is a security checklist for office managers.

Financial sector security checklist for office managers

1. Access control:

Can we control who is given access (e.g. team members, visitors, customers, contractors)?
Can we quickly and easily revoke access in the event of off-boarding team members?
Do we have control and oversight of where staffers and visitors go?
Can some offices have more restricted and monitored access than others?
Are these systems easy to integrate with others, such as human resource management software?
Are the access control systems secure from DDoS and other cyberattacks?

2. Video surveillance

Are all of the entrances covered by video cameras?
What about internal corridors and elevators?
Do we need external cameras to secure the immediate vicinity?
Do the cameras operate 24/7 and is everything cloud-based so that real-time recordings and footage can be viewed by security cleared team members from anywhere in the world?

3. Alarms and intercoms

Although financial firms will almost always have a reception desk and security staff, there might be cases when certain floors and offices benefit from intercoms. Even with access control systems in place, having an extra layer of in-person security provides more peace of mind.

Alarms are essential too. Operational and security managers in financial firms need to know that an alarm system will work 24/7 and is connected to company security teams, and if necessary, the police. If anything happens, you need rapid response and to be notified immediately.

4. Cyber security

Although financial firms should have a clear understanding of cyber risks, commercial real estate companies need to demonstrate compliance in this area too.

Any system that real estate managers are responsible for are potential security vulnerabilities. Systems such as access control, reception computers, any maintenance systems, and even video surveillance. It might surprise you to know, but there are even examples of customer data being stolen when vending machine systems were hacked.

In an evolving cybersecurity landscape, the only way to achieve peace of mind is to keep adapting. Use the latest tech and systems to safeguard access. Financial firms are always going to be targets.

Review the systems in place to defend everything from access control to elevators. If in doubt, have a cybersecurity firm test the system: Identify weaknesses and recommend how to make your properties more secure.

When it comes to property security, a review of current systems is always useful. See what you have in place and whether it’s fit-for-purpose to look after your tenants and the tenants you want to attract. If this isn’t the case, then now could be a good time to have a chat about this.