Who is responsible for overseeing a financial institution's information security program as per the GLB Act?

The correct response highlights that one or more designated employees are responsible for overseeing a financial institution's information security program as mandated by the Gramm-Leach-Bliley (GLB) Act. In the context of the GLB Act, financial institutions are required to implement and maintain comprehensive security programs to protect the confidentiality and integrity of consumer information. This oversight is typically assigned to specific employees or teams within the organization that possess the requisite expertise and authority to ensure that security measures are effectively executed, compliant with regulations, and regularly updated to address emerging risks.

The designation of individuals or teams allows for accountability and specialization in managing the complex aspects of information security, including risk assessment, policy development, training, and incident response planning. This approach fosters a structured method for ensuring compliance with the law while also enhancing consumer confidence in the institution's ability to safeguard sensitive information.

In contrast, the other options suggest a lack of defined responsibility, which would be inadequate for meeting the rigorous requirements of the GLB Act. Having no employees oversee the program would certainly fail to establish a necessary governance structure, while allowing any employee to take on this role would not ensure the expertise required to handle such critical responsibilities effectively. Finally, while the board of directors plays a vital role in governance and oversight of