Reference no: EM132214560
Put yourself in this scenario. You have just started working at a regional branch of Iontaofa Bank. Iontaofa Bank’s has its headquarters in Ireland and has recently expanded into the southwest USA by acquiring several existing independent banks. Your branch is located on the USMexican border and has a mix of US and Mexican customers.
The day you start work, the bank discovers a massive data breach that potentially exposes all of your clients’ financial information. The breach poses an extra problem for your bank because its competitive advantage rests on customer trust. To make the situation more difficult, the breach apparently occurred one month ago, and the FBI has asked the bank to wait two weeks to tell your customers while they can try to track down the culprits before they find out their theft has been discovered.
Everyone has been called in to help develop plans for dealing with the situation. The bank president wants to use your knowledge of multiple business areas since she feels your recent degree gives you an overview of the different bank areas instead of any one specific perspective. She wants your input on the following:
What information the bank needs from each major operational area (accounting, finance, information systems, management, marketing, operations, etc. – the areas you gained knowledge of in your business program) to present to deal with the breach’s fallout.
What ethical obligations the bank has to its customers because of this breach, and how might the multi-cultural makeup of your bank and customer base influence your ethical obligations.
What should she (as branch president) be aware of to motivate her followers in dealing with the extra work generated by the breach, and how to help them reassure customers and financial stakeholders that the bank can retain their trust.
The write-up should be no longer than five pages and will be evaluated on the following areas: general business knowledge skills, critical thinking (problem-solving), writing quality, ethical understanding, leadership recommendations.
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