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Rubik cloud risks-jun2012
The document discusses the risks and benefits of cloud computing. It describes different types of cloud services including Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). Some key risks discussed include security, service interruptions, privacy, and outsourcing risks related to intellectual property and data ownership. However, the document also notes that cloud computing provides benefits like flexibility, scalability, cost savings, and increased security compared to traditional IT systems. It argues that while risks exist, they can be mitigated, and cloud adoption is important for competitiveness.
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Rubik cloud risks-jun2012
- 1. The "Cloud" Risk Presentation Risks And Benefits
- 2. Cloud - Whatis it? • Software as a Service (SaaS) • GoTo meeting / Webex • Sales Force • Gmail & Google Docs • Zoho • Platform as a Service (PaaS) • Force.com • AppEngine - Google • Apple App store • Rubik Bank-in-a-Box • Infrastructure as a Service (IaaS) • Amazon S3 • MS Azure Note: all logos owned by respective businesses – illustration only
- 3. Cloud - Whatis it? • Characteristics • On demand • Any device • Self service • Pooled resource • Elastic provisioning • Service measurement • Deployment • Private Cloud • Public Cloud • Hybrids/shared
- 4. Why worry... • Yourclients are using it • Your advisers / suppliers will use it (eg. Data rooms, credit decisioning,...) • You will be / are using it • Westpac doing risk modelling using cloud compute power • CBA signing legal documents using it • Various ADIs (of all sizes from Deutche Bank to the smallest Credit Unions) using for CRM, eMail, Office, Card processing, Collections, Core banking, Internet banking, treasury and more... • and more are planning to...
- 5. Technical Risks • Security • Service interruption • Disaster recovery • Privacy • Data separation
- 6. Outsourcing Risks • Intellectual Property • Data • Ownership • Co-mingling • Sovereignty • Sustainability • Compliance
- 7. Cloud Specific Risks • Contract / SLA • Liability • Penalties • Reputation • Metrics Mediocrity Rules in Cloud SLAs Source: Yankee Group, 2011
- 8. Credit Specific Risks- Client • Continuity - What happens to client if service provider fails? Can they transfer data and processes? • Business Interruption - Do Clients have plans that secure data and ensure recovery - these could be accounting, client, sales or other core business assets - has failure been tested? • Default - How do you get control/access of key Business assets during workout - consents for entry to property, but to data in a cloud data centre? Rights to passwords or control?
- 9. Credit Specific Risks- Portfolio • Concentration risk - what if many customers on same platforms - eg. The LinkedIn password loss, a widespread SalesForce failure? • Country risk - are systems being delivered from countries with poor IT, Network, or governance structures - eg. The Estonia/Russia hacker wars, Stuxnet, Patriot Act
- 10. So why usethe cloud? • The benefits are too economically and competitively important to ignore • All of these risks can be mitigated • Often these are hidden risks in internal business practices – just not evident • Services have already moved to cloud and so we need to create standards for evaluating risk and managing
- 11. Final Slide Rubik Financial Limited ABN 51 071 707 232 • 10/17 Castlereagh St, Sydney, NSW • 1/1 Eden Park Drive, Macquarie Park, NSW • 4/68 St Georges Terrace, Perth , Western Australia • 24/22 Clifford Centre, Singapore 308900 • PO Box 213314 Dubai UAE PO Box 4808 Sydney NSW 2001 Phone: +61 2 9488 4000 Fax: +61 2 9449 1116 www.rubik.com.au
- 12. Challenges - whatproblem are we solving? • Data silos and maintaining a secure perimeter with legacy design • Energy consumption and low system usage • Increased labour costs and pool of professionals spreading and declining • User demands - used to many web based free, high quality, reliable services with great User Interfaces (UI) • Data volume growth
- 13. Technical Benefits • Provisioningspeed • Storage capacity • Agility / flexibility • Elasticity • Load balancing – burst • „green‟ computing – power and resource saving • Attracts innovators and rapid prototyping • Specialized services – lesson learned can be shared across multiple tenants
- 14. Business • Ease ofadaption • Configuration over customisation • Speed to market • Device independence • Availability • Resilience • Redundancy • Response • Cost structure • Units - Pay as you grow • Low Capex
- 15. Security benefits • Cloud has to be more secure simply because it is the greatest impediment to adopting cloud solutions! • Some advantages • Data held centrally • Data access, and backup all controlled and logged • System Snapshots for EOM, forensics, training, … • Virtual systems allow easy recovery • Security tests can be more extensive and frequent • A serious cloud provider will be in conformance with all required security and compliance requirements by design.
- 16. Hidden benefits • Legacy free • “Web” Standards - XML, Services • Common defined interfaces • Focus shift • Processes • Outcomes • Offers • Third party contracted management of some key business risks
Editor's Notes
- #13 But does your organisation use the cloud already?Middleware/ESB, Virtualisation, Web services, Packaged software, WDSL etc. already are steps toward CloudDigital Universe (the amount of digitalinformation created and replicated in the world) grew by 62% to nearly 800,000 petabytes (a petabyte is a million gigabytes, or a quintillion bytes), and this year, the DigitalUniverse will grow almost as fast to 1.2 million petabytes, or 1.2 zettabytes, according to IDC's annual report, "The Digital Universe Decade - Are You Ready?" May 2010
- #14 Replication - automation and consistency of deliveryScalability - in Processing and storage (hint use some SSD!)Provisioning - fast setup, and strong DR, and updated regularly across multiple tenantsMore efficient resource use leads to power and then environmental savingsAttracts staff who seek to be on the latest capabilities, but also allows them to rapid POC systems and new ways of operatingFacilities managed by providers whose core capability is providing and maintaining the right facilities – they can share learnings and specialist skills across multiple tenants
- #15 Cloud system have to be able to adapt to a number of ways of working within the general modelSystems that took 3-12 mths to get onto hardware and integrated can now be created in days and weeksMobility and device independenceThe systems have known, contracted, and reported service levels – and the contracted response rate must be met or penalties apply – this may be true with internal IT resources but it removes any favours
- #16 Its not all bad news – you might find some improvements in:Less data loss – the data is in the cloud, not the deviceBetter backup, mirroring and central access controlIf investigating a breach an entire image of the system can be made and stored while business continuesCloud systems have to encrypt and timestamp everything as you must know what went wrong and when – combined with massive storage – log away!Patching, Rollbacks and performance optimisation all improved by virtualised systemsPenetration testing and other high value security tests can be more regular as shared across multiple tenants
- #17 The hardware is abstracted/virtualised and the interfaces are all messages and queues so the legacy can be ‘ignored’ or encapsulated.Cloud relies on common standards, definitions and structures to maximise interoperabilityThe interfaces wind up being ‘common’ across organizations – eg. Salesforce spreads with sales person migrationShift in IT org focus and skills from H/w network to applications, data, processes – more staff to work on thereal business issues.Someone else responsible for some of your most challenging business risk - negative incidents (data loss, fraud, downtime) can be managed with more clarity and less direct brand damage