I think the best option for the scenario you describe is to use a form of encryption that does not store the encryption keys in a manner where they are accessible to system administrators. If you're using Microsoft Office 2007, the easiest way to do this is to use Office's built-in encryption feature to password-protect your files. You'll need to share the password with other upper-level executives in an offline fashion. (Remember, if you email it, chances are the network administrator can read your email!)
Also, notice that I specifically said that this option applies only to those using Office 2007. This latest release of Microsoft Office uses the strong AES encryption algorithm to protect data. Earlier versions of Office use a much more primitive algorithm that is easy to defeat.
Related Q&A from Mike Chapple
The updated HITRUST Common Security Framework allows organizations to manage privacy, security and compliance with one framework. Here's how it works...continue reading
A HIPAA audit covers privacy compliance, and organizations need to be prepared. Expert Mike Chapple discusses privacy in the audits.continue reading
A data breach warranty may seem like a tempting way to survive a costly attack, but it may not be all it's hyped up to be. Expert Mike Chapple ...continue reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.