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Why Should the Financial Community Care About Cloud - Cobis2020


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Cobis2020 presentation on cloud computing

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Why Should the Financial Community Care About Cloud - Cobis2020

  1. 1. Cloud Computing:Why should the Finance Community Care? Kevin L. Jackson Vice President General Manager NJVC Cloud Services
  2. 2. The New IT Era IDC September 2008 rev date 3/25/2012
  3. 3. Data Processing Explosion
  4. 4. Cloud Computing Not a new technology but a new approach in the provisioning and consumption of information technology A services oriented architecture (SOA) implemented typically on a virtualized infrastructure (compute, storage, networks) using commodity components coupled with highly automated controls enable the five essential characteristics of cloud computing. Key Benefits Key Concerns  Significant cost reductions  Standards  Reduced time to capability  Portability  Increased flexibility  Control/Availability  Elastic scalability  Security  Increase service quality  IT Policy  Increased security  Management /  Ease of technology refresh Monitoring  Ease of collaboration  Ecosystem  Increased efficiency
  5. 5. Cloud Computing: Value and Capabilities Time  Reduce time to deliver/execute mission  Increased responsiveness/flexibility/availability Cost  Optimizing cost to deliver/execute mission  Optimizing cost of ownership (lifecycle cost)  Increased efficiencies in capital/operational expenditures Quality  Environmental improvements  Experiential improvements
  6. 6. Relational Databases and the Cloud German, BMW, Truck Truck The economics of data storage led to the use of BMW Car content addressable German, BMW, Car storage, flat storage SUV architectures and internet German, BMW, scaling. SUV Germany … Volkswagen … German Volkswagen, Truck Audi … Search … ToyotaCountry Japan Honda … Mazda Database design, Ford database tuning no … longer required with US Chrysler infinite scalability and consistent … GM … responsiveness US, GM, SUV 3t 1t 6
  7. 7. Traditional Analytics Traditionally, lexical searches, filtering or Boolean search attributes are used to••••••••••• reduce data to a “working set”. Analytical tools are then applied to this “working set”.•••••••••••••••••••••••••••••••••••••••••••• Tools/Analysis Reports/Conclusions••••••••••• All Data Sources / Types 7
  8. 8. Cloud Enables Searching All the Data, All the Time••••••••••••••••••••••••••••••••••••••••••••••••••••••• Reports/Conclusions••••••••••• 8
  9. 9. Computing Malicious Insiders Data Loss or LeakageUnknown Risk Profile Shared Technology Issues Insecure Interfaces and APIs Account or Service Hijacking Abuse and Nefarious Use of Cloud Top Threats to Cloud Computing Governance and Enterprise Risk Management Legal and Electronic Discovery Compliance and Audit Governance Information Lifecycle Management Portability and Interoperability Traditional Security, Business Continuity, Data Center and Disaster Recovery Operations Incident Response, Notification and Remediation Application Security Operational Encryption and Key Management Identity and Access Management Virtualization
  10. 10. IT Auditing Collecting and evaluating evidence to determine weather a computer system (information system) safeguards asset, maintains data integrity, achieves organizational goals effectively and consumes resources efficiently. Finance and Commercial  PCI  Gramm-Leach-Bliley Act Social and Labor  Sarbanes-Oxley (SOX)  SAS70  HIPAA Public Safety  Data Protection Act (UK)  Federal Information Security Management Act (FISMA) Security  ISO27000
  11. 11. Auditing the CloudAreas for Audit  Compliance  Governance and Risk  SecurityAuditing Challenges  1:1 mapping no longer exists  Dynamic, global environments  Requirement to retrieve, correlate and extract meaningful data from an ever increasing number of data sources  Auditing as a service spreads the audit trail across multiple domains
  12. 12. Data Confidentiality, Privacy, IntegrityData stored, transmitted and processed outside of the organizationShared computing environmentsNo physical control of dataPhysical and logical access managed by providerNo controls to prevent data modificationNo logging events on data (access, modification, transmission)
  13. 13. Regulation and ComplianceData subject to new lawsExposure to foreign governments and subpoenasRetention requirements vay among jurisdictionsAudit of provider’s environmentIncreased complexity to comply with standards
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  16. 16. Summary Cloud computing is a technological evolution “Drive for scale” (Internet) and “Drive for cheap” (Commodity components, Extensive automation) and the economics of Moore’s Law (Cheap storage) led to a business model revolution Fiscal realities and business model economics are driving rapid adoption of cloud computing Cloud computing can enable significant application enhancements Security: Same threat vectors. Same attacks but faster, broader and automated using “resource concentration Audit issues still need to be addressed. A Prediction: “FedRAMP for Finance” is coming 16
  17. 17. Thank You !Kevin L. JacksonVice PresidentGeneral ManagerNJVC Cloud Services(703) 335-0830Kevin.jackson@NJVC.comhttp://www.NJVC.comhttp://kevinljackson.blogspot.com