What Every FI Must Understand About Cloud Computing: New FFIEC


Presented by: Susan Orr

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Outsourced cloud computing activities - what are they, and what are the risks associated with them? The FFIEC tackles the subject in a July, 2012 statement, discussing key risk considerations associated with outsourced cloud computing activities and identifying applicable risk mitigation considerations. Listen to the news and you'll see an increasing number of references to "the cloud," but pinning down what is meant by cloud computing can be a bit like trying to examine snowflakes. Nonetheless, despite the lack of any widely-accepted definition, it is possible to point to tangible examples of certain business strategies, technologies, and architectures that would fall within its realm.

It is quite possible that your institution is either contemplating or using a cloud computing model in which all or part of the service is outsourced. Or perhaps you are a vendor that provides outsourced cloud computing services to financial institutions and want to be able to assure your client institutions that you are acting in accordance with regulatory directives.

The new resource document issued by the federal financial institution regulators is designed to help you understand and address the unique risks associated with cloud computing, but before the resource document makes sense, you need to be given context for it so you truly understand both the big picture and the fine details.

For purposes of your technology planning and ongoing management, before you proceed further or include cloud computing in your future plans, tune in to this webinar to get the scoop on the cloud and how to either use it or provide it acceptably within regulatory boundaries.

The program will include:
  • An overview of cloud computing with examples
  • An analysis of the key elements of outsourced cloud computing implementation and the key elements of risk management
  • A discussion of each risk management component, including:
    • Due Diligence
    • Vendor Management
    • Audit
    • Information Security
    • Legal, Regulatory, and Reputation Concerns
    • Business Continuity
You'll have an opportunity to get your questions answered. If the cloud is, indeed, the future (Google "future of the cloud" and see what the buzz is) and experts see cloud computer as fundamentally changing the way we do business, it's time to learn what you need to know in order to be prepared to grapple with how to effectively deploy and manage it.

About the Speaker: Susan Orr is president of Susan Orr Consulting, an IT regulatory compliance consulting and audit firm for the financial services industry. Susan is a former FDIC bank examiner, with over 18 years of examination, auditing, and risk management experience and holds the Certified Information Systems Auditor, Certified Information Security Manager, and a Certified Risk Professional designations. In addition to performing IT audit and consulting, she is a frequent speaker at financial institution conferences and has presented hundreds of seminars and webinars across the U.S.

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CD-ROM includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in September 2012. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_cloud0712
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Friday 13 July, 2012.

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