Despite the widespread use of electronic card access control systems, most facilities still make extensive use of traditional locks and keys at their facilities.
Because traditional locks and keys continue to be widely used, it is important that effective security management procedures be put into place to effectively control them. The first step in effective key management begins with the initial selection of the lock system.
Once the type of lock system has been decided upon, the next decision is to choose a lock manufacturer. Once this process is completed, the hardware  consultant will design the keying system and create keying chart. The design of a keying system can be a very complex subject and this article just touches on some of the basics. High-security areas in the facility sometimes should be keyed so that they are not part of the master key system. Doors that are equipped with card readers or other access control devices often have lock cylinders on them to allow them to also be opened with a key. It is our recommendation that these lock cylinders not be keyed to any key that is routinely carried by employees, including master keys.
Written policies and procedures for key issuance and management should be developed and approved by the company’s senior leadership. Keys should be issued strictly based on job responsibilities and not seen as a symbol of rank within the organization.
Many employees request keys that provide access beyond what they need on a daily basis just so that they can respond “in an emergency”. Good key authorization and issuance procedures are an essential part of any effective key management system. The biggest key management problems that many organizations face involves getting keys back from employees when they leave the organization. Employee is promoted or transferred to another department or site and is issued keys for new job but fails to return keys from previous job. Solving these problems requires close cooperation with your Human Resources (HR) Department. Some organizations charge employees for replacement keys or even make employees pay for all or part of the expense of rekeying locks when a key is lost. Procedures need to be in place to get keys to those who need them under special circumstances. The key storage system should provide the ability to identify and locate each of the keys quickly, and to identify keys which are missing or have not been returned.
The key issuance log should be periodically audited to identify keys that are missing or which have not been returned at the agreed upon time. To more effectively manage the key storage and issuance process, there are automated key cabinets available. There are cases where employees may need emergency access into areas where they are not ordinarily allowed. A written security report  should be required anytime that a security officer unlocks a door to provide emergency access or whenever an emergency key box is used. If you have questions about anything in this article, or need help in planning effective key management procedures for your organization, please Contact Us.
This entry was posted on January 22, 2013, 2:14 am and is filed under Lock Hardware, Security Management. Easy to get started and use, TimeZone is a simple, easy to use, web-based Employee Management & Time Clock system written in PHP.
Track your employees information and time on-line, Intranet or Internet with a powerful employee management and time clock web based application. Management and staff on Monday sent messages of condolence to family and friends upon hearing of the passing. The late TelEm Group worker has been described by many as motherly, soft-spoken, easy going and a loyal employee over more than four decades.
She said on behalf of all of the staff of the Customer Service Department, there is heartfelt sadness at their colleague's passing. Anti-malarial drug Lariam, which can cause severe side-effects, should be the "drug of last resort" for UK troops, MPs on the defence committee say. Sponsored: Drivers With No Tickets In 3 Years Read This Do NOT pay your next car insurance bill until you try this. An application to carry out fracking in England for the first time since a ban was lifted in 2012 is approved. Louis van Gaal is sacked as Manchester United manager for the poor style of play - with Jose Mourinho set to replace him. Marcus Rashford could make his England debut on Friday, but Roy Hodgson says the striker is short of time to make an impact. In the aftermath of a BrokerCheck study that concluded 1 in 13 advisors have tainted histories, Senator Elizabeth Warren (D-Mass.) is asking the Financial Industry Regulatory Authority to disclose plans for curtailing broker misconduct. In the most recent Eaton Vance Advisor Top-Of-Mind Index study, more than half of advisors surveyed said their concerns over market volatility have increased in the past 12 months. Brilliance isn’t essential for successful financial professionals and, if anything, can be a characteristic that makes employees hard to manage, says David Rubenstein, founder of private equity advisor The Carlyle Group.
Advisory firms often focus on training their sales reps and ensuring that advertising and web campaigns target appropriate customers. Changes to forms 1099-R and 5498 that require IRA custodians to disclose hard-to-value assets in IRAs could lead to the Internal Revenue Service increasing its enforcement of required minimum distributions. Present bias, or spending money now rather than saving, and failing to appreciate the power of compounded earnings has cost retirement savers $1.7 trillion.
A lawsuit alleging that Edison International improperly favored high-fee funds for its 401(k) plan has been rejected by 9th U.S. The Security and Exchange Commission’s Investor Advisory Committee wants the regulator to mandate that standard fees be disclosed--in actual dollar amounts--on customer account statements. Morgan Stanley is building a help desk with more than 10 staffers who will answers questions from financial advisors about complying with the new retirement fiduciary rule.
Even though markets have been calm recently, the large equity selloff in the second half of 2015 and in the early portion of 2016 illustrates how quickly investor sentiment can sour.
Robo-advisor Betterment has raised another $100 million in venture capital and plans to use the funding to build out additional advice products. The registered investment advisor community is quickly growing as clients increasingly prefer working with advisors who comply with the fiduciary standard, says Bill Van Law, president of Raymond James’s Investment Advisors Division. Advisors with the Certified Financial Planner distinction tend to have higher levels of trust among clients and earn, on average, 20% more than other advisors, according to a study funded by the CFP Board of Standards and conducted by the Aite Group. The Securities and Exchange Commission has created the office of Risk and Strategy to focus on examining investment advisors and mutual funds. Many Americans nearing retirement age are pursuing careers with a charitable or civic service nature, which is creating opportunities for financial planners.
The Securities and Exchange Commission’s decision to shift resources from broker exams to advisor exams has been driven by necessity, says Marc Wyatt, director of the examinations office.
Among black working-age households, 62% have no savings in retirement accounts, while only 37% of working-age white households lack such savings, according to a National Institute on Retirement study.
Individuals who are old enough to sneak past the recent termination deadline for using the file and suspend strategy that helps boost Social Security benefits are reportedly being told they are not allowed to use the strategy. A study of retirement assets during the 2000s has concluded that retirees in the top quintile of wealth have been spending substantially less than their savings allows for. Funding for the Securities and Exchange Commission and the Futures Trading Commission would be doubled by 2021 under the budget recently proposed by President Obama. President Obama’s proposed budget includes provisions that would increase the number of Americans covered by employer-sponsored retirement plans by expanding the use of multiple employer plans.
Bill McNabb, who is the chief of ETF giant The Vanguard Group is warning the industry that the large number of ETFs being launched could create problems for investors. The Department of Labor’s proposed fiduciary standard could create a big increase in orphan accounts, which are accounts that end up being managed by home offices rather than by broker-dealers registered reps, says Paul Sankovich, chief compliance officer at Wells Fargo Advisors Financial Network.
The Financial Industry Regulatory Authority (FINRA) is investigating how robo advisors manage risk, says Dawn Calonge, surveillance director at the organization.


Deena Friedman, who skippered the Fidelity Select Retail Fund to an 18.59% return in 2015, has been selected by Bloomberg as the stock picker of the year. Only one out of every five advisor recruits stays in the industry, but firms can take various steps to improve retention.
The Securities and Exchange Commission has fined Everhart Financial Group nearly $240,000 and ordered the advisory firm to appoint a chief compliance officer after the regulator determined that the company was inappropriately recommending funds with 12b-1 fees for retirement plans.
With weakening economic growth in China and other concerns driving market volatility, billionaire investor George Soros says capital markets currently remind him of conditions that existed during the economic crisis of 2008. For financial advisory firms, implementing customer relationship management technology can be a high stakes and dicey undertaking.
Galen Marsh, who as a Morgan Stanley advisor downloaded client data to his home computer without permission, has been sentenced to three years of probation and ordered to pay $600,000 in restitution. Retirement plan fees are falling as 401(k) participants increasingly embrace low-cost products. The proposed Department of Labor fiduciary standard could cost the financial industry in excessive of $2.4 billion in lost transaction revenues, which is more than double most estimates, says Morningstar Analyst Stephen Ellis.
A small number of stocks including Amazon, General Electric, Alphabet, Microsoft, and Facebook drove market gains in 2015. Having $30,000 in student debt can cut as much as $325,000 from 401(k) balances by the time an individual reaches retirement. Only 64% of advisors responding to a recent Russell Investments Financial Professionals Outlook survey have a positive outlook for capital markets over the next three years.
Online market gurus have been forecasting rapid growth of web surfers connecting to cyberspace with smartphones and tablets and a decrease in the use of desktops and laptops. Smart Beta exchange traded funds captured $3 billion in assets in October and $53.7 billion during the first ten months of this year, according to London-based research firm ETFGI.
Despite occasional articles about advisors stealing from clients, only 2% of individual advisors have reported criminal charges such as felony convictions or investment related misdemeanors, according to an analysis of industry data by Big Crunch. Morgan Stanley advisors who land clients that need cash management services next year can receive bonuses up to $50,000. Susan Elizabeth Walker, 51, of Plymouth, Minnesota, has been sentenced to more than seven years in the slammer after being found guilty of stealing $1.1 million from at least 24 clients.
The Securities and Exchange Commission has issued a warning regarding outsourced compliance programs based on deficiencies that it has uncovered during examinations. Providing low-cost tax return preparation to generate financial planning prospects is just one of a variety of successful strategies. During the past year, daily equity market declines and gains exceeding 1% have been common, with investor sentiment quickly changing based on the prevailing outlook for the Federal Reserve’s monetary policy. File and suspend, which allows one member of a couple to receive a spousal benefit from Social Security while both spouses’ benefits continue to accrue, would be terminated under the budget bill that was recently passed by the House of Representatives. Mounting levels of student debt and declining home ownership among younger people means that many recent college grads will have to work to age 75 before retiring.
The Certified Financial Planner Board of Standards should be raising the requirements to become a certified financial planning. Periodically adjusting asset allocations based on expected returns of different asset classes can generate better returns than traditional target date funds, according to back testing completed by Grantham, May, van Otterloo.
Boston-based startup firm Gradifi has launched the Student Loan Paydown Plan, which allows business to make payments toward their employees’ student debt. Impact investors, or those investors seeking to invest in a socially responsible manner, don’t have to sacrifice returns to stay true to their calling, according to a new Wharton School study. In the next five years, private wealth is estimated to grow from approximately $14 trillion to $22 trillion. Traditional advisors can compete with robo-advisors by being prepared to answer tough questions about fees, understanding what services clients value, expanding their referral networks, and clearly articulating the range of services they provide. Advisors should ensure that female clients can find financial planning documents, such as life insurance policies in the event that they outlive their husbands. Advisors need to address frequently overlooked aspects of their digital branding to ensure that their reputation and marketing are assets rather than liabilities. The Department of Labor is moving forward with a rule change intended to help states start retirement plans without running afoul of regulations included in the Employee Retirement Income and Security Act. Financial services firms are awaiting a list of products that the Department of Labor may restrict from being used in IRAs as part of its fiduciary standard rule. Investors younger than 40 ramped up stock purchases on August 24 when the market tanked 1,000 points at the open, according to Robinhood, which is a stock trading app that is frequently used by Millennials. The Social Security Administration says it will provide retroactive spousal benefits to same-sex couples that were married in states that previously didn’t recognize such matrimonial unions, according to attorneys for plaintiffs. Many advisors may cringe when conversations suffer from akward silence, but such moments can lead to more productive conversations.
Labor Secretary Thomas Perez says he will continue to push for a fiduciary standard for retirement plan advisors even though Republicans and moderate Democrats are concerned that the rule could harm low-income individuals. Advisors need to understand the complex emotions that can accompany sudden wealth in order to best serve their clients. While blissful couples pledge to stay married until death, the reality is that approximately 50% of marriages inthe U.S. Collecting Social Security early can help retirees assess how much they can spend because the payments are consistent. The annual household savings rate climbed to 5.5% last year, up nearly a full percentage point from 2013. Advisors can engage their clients and strengthen relationships by using appropriate teaching styles for each investor’s preferred method of learning. May and June have been tough months for Bill Gross and his Janus Global Unconstrained Bond Fund with investors withdrawing $50 million from the portfolio during the period, according to Morningstar. The Securities and Exchange Commission recently awarded a whistleblower $3 million for information that helped the regulator crack a complex case of fraud. Advocates of the fiduciary requirement for retirement investment advisors have delivered a petition with 230,000 signatures to the Department of Labor to urge the regulator to support the proposed standard. Industry trade groups are proposing legislation that would require retirement planning advisors to serve in the best interest of clients rather than comply with the Department of Labor’s proposed fiduciary standard, says Steve Saxon, chairman of Groom Law Group. This program is a fully integrated Employee Assistance Program (EAP) designed to help our employees effectively balance the demands of work and life. BPC has a blend of both full time consultants and Associate Consultants who provide flawless consulting to meet and exceed our client needs and expectations.. The consulting team has an edge in both theory and application with deep experience, skills and competencies in the core areas. It is still much less expensive to equip a door with a standard lock than it is with any type of electronic access control device. In many cases, selecting a lock manufacturer also chooses the type of lock cylinders and key that will be used.
This process is normally facilitated by the architectural hardware consultant who is specifying the lock system. This chart may be simple or complicated depending on the type of facility and total number of doors to be controlled. These keys allow access to all of the areas or departments shown below them on the keying chart. While it is very convenient for a manager to have a grand master key that opens every door on the premises, consider the damage that would be caused if this key fell into the wrong hands. For example, if you are constructing one building in a campus that is expected to eventually have three buildings, the keying system should be designed with this in mind.
These keys should be kept in a secure location and only issued in the event of an extended access control system failure.
Some security or facility managers feel pressure to give keys out to anyone who requests them, regardless of need. Once these policies and procedures have been approved, they should be consistently applied. For example, an employee may be assigned to the Accounting Department and work a majority of his time there, but once or twice per year, he may be called in to work in the Payroll Department.
For example, a nighttime supervisor in the Manufacturing Department may claim he needs a master key for the Administrative Offices so that he can get in case of a fire or a water leak.


Electronic forms may be used as an alternative provided that a reliable method is used to authenticate signatures. For example, a request for a maintenance employee to have access to a Lab area might require the approval of both the Maintenance Manager and the Lab Director. For example, if all employees of the IT Department need access to a specific room, each employee should be individually assigned a key. The serial number of each key issued to an employee should be recorded on the Key Authorization Form. Keys are kept in department and never returned to person responsible for managing the key system. HR is normally involved in every employee resignation, termination or transfer and usually conducts an exit interview with employees on their last day of work.
Sometimes, an employee may misplace his or her key and not report it missing right away, thinking that the key may have been left at home or in another place.
In our opinion, this is a poor practice as it often discourages employees from reporting lost or stolen keys. Examples can include employees who temporarily need a key to an area other than their normal workplace, and contractors or service technicians who need keys to work on a specific project.
These can include wall-mounted key cabinets, file cabinets with hanging key files, and drawers used to store keys that have been sealed in small envelopes. A written key issuance log should be kept that tracks who each key has been issued to, who approved it, when the key was issued, when it is expected to be returned, and when it was actually returned.
Audits should be conducted by the person managing the key system on at least a weekly basis. These cabinets store and dispense keys and maintain an electronic record of which key has been issued to who and when.
These key boxes are exclusively for the use of emergency responders and cannot be used by company employees. The bug was TimeZone was only updating the first database entry for a given date, and you could never update any extra entries for the date. Maarten – TelEm Group flags are flying at half-mast as a tribute to the company's longest-serving employee, Stella Aarndell, who passed away Monday, June 15, following prolonged illness.
Aarndell joined the company when it was then called Landsradio, as one of its first employees, working in the Telegram department. Aarndell recently marked a milestone in the company only this year, when she celebrated 40 years of service with a token presentation from management and staff. She was a part of the Personnel Association for many years and a keen supporter of our telecom companies sports exchange meets. Helma Etnel, also expressed sadness on behalf of the management team, at the loss of a close, dedicated and much-loved member of staff. Those include services on its 401(k) platform and additional features for use by financial advisors. Now, recent data suggests the use of such portable devices has exploded, which underscores the need for advisors to ensure that their websites are well equipped to handle smartphone and tablet traffic. Instead, it is making it easier to obtain the credentials, writes Rick Kahler, who is president of financial planning firm Kahler Financial Group.
During that period, furthermore, women are expected to control two-thirds of private wealth. La Placa and a handful of other team members that collectively manage $3 billion in assets have left the San Francisco office of Deutsche Bank to start their own firm.
Approved timesheets will be sent electronically to the manager of signature then accounting for processing. BPC is fast expanding in the East, Central and Southern Africa region with plans to become truly global. For these reasons, most organizations equip only a small percentage of their doors with electronic access devices, and install traditional locks on the majority of their other doors. A standard security lock system is less expensive, widely available,  and offers more flexibility in the way that keys can be duplicated.
The process generally involves creating a matrix that shows all doors in the building, identifying all of the categories of employees that require access through these doors, and establishing which categories of employees need access through each of the doors. For example, in the chart above, the Administration Master Key would allow access to both the Accounting Department and Human Resources Department. Also, having such a key lost or stolen would require rekeying the entire facility – a very costly proposition. Again, the rule should be to issue access privileges based only on routine needs, and have a procedure in place to allow special access in an emergency. HR should have access to key records so that they know which keys have been issued to each employee. This can allow several days to transpire between the time a key is first missed and when it is reported lost. We think it is better for an organization to know that a key has been compromised and bear the expense of rekeying rather than not to know about it at all. In addition, independent audits should be conducted by an outside party (such as the security manager) on at least a monthly basis.
The cabinets also allow alerts to automatically be sent by email when a key isn’t returned as expected.
There is little difference to losing a member of your family, because she has always been an important part of the TelEm Group family and will be missed by all of us and also by the customers that she has bonded with over so many years," said Mrs.
Maarten and Aruba and many dear friends at her TelEm Group home away from home.TelEm Group management and staff wish all family and friends of their dear late colleague much strength and courage at this time.
If you throw into the mix the occasional premature death of a spouse, then it becomes clear that a substantial portion of advisors’ married clients are likely to become single.
High-security lock systems offer much greater security but are more expensive, available through fewer channels, and generally require that duplicate keys be obtained only through authorized distributors. Cylinders and keys are generally not interchangeable between brands, so once an organization picks one brand of lock and key, they usually need to stick with it.
For example, in the chart above, the Accounting change key would only allow access into the Accounting Department, and the Human Resources change key would only allow access to the Human Resources department.
For example, in hospitals, only registered pharmacists are allowed access to pharmacy areas; even the top executives of the hospital are not allowed to enter the pharmacy unless a pharmacist is present. A key that works in the Payroll Department should be temporarily assigned to the employee only while he is working there and returned when he goes back to his regular job. Retrieving the employees keys (as well as access card and other company-owned property) should be an integral part of the exit interview process. Automated cabinets typically require the use of a numeric PIN code in order to remove or return a key. The emergency key box should be kept is an area that is secure but accessible to employees who may need to use it. Maarten Telephone Company worker in August, 1997 and rose to become a Lead Customer Services Representative in the Simpson Bay branch.
She was a favourite with customers because she always did her best to leave a positive impression by resolving their problems in any way she could," said Ms. A hardcopy should be printed, signed and forwarded to accounting for record keeping purposes.
However, keying locks off-master should be done sparingly, otherwise you may end up with a complicated and unwieldy key system. When HR receives returned keys, they should be forwarded to the person or department that manage the key system for the organization.
Some cabinets are also capable of using the employee’s proximity access card to operate the cabinet and remove a key. A tamper switch connected to the building’s intrusion alarm or security management system should be provided so that an alarm signal is received anytime a key is removed from the emergency key box.



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