An apparatus and method dynamically creates security keys for a subscriber, having at least one preexisting security credential set, and allows the configuration for N key pairs or N keys (where the cryptographic system is a symmetric key system). Such a system provides flexibility in assigning cryptographic algorithms and cryptographic keys to facilitate a change in algorithm without requiring reinitialization of a processing unit or subscriber. The apparatus and method provides a configurable security key manifest, such as a template or table, operative to contain a non-prespecified number of security keys. A security officer or other source may input key configuration data to a graphic user interface template or other suitable mechanism to configure the security key manifest. Once configured (populated), the apparatus dynamically controls the generation of at least one new security key for the subscriber based on received key attribute data and based on the differences in current and prior security key manifests.