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Ted Dziekanowski this is a timely and important document for Financial Institutions. The Financial Stability Institute (FSI) of the Bank of International Settlements (BIS), an international institution owned by member central banks. Has released a regulatory oversight framework for managing cloud risk. There’s an expectation that cloud risk management will be regulated by the BIS. A scope that would encapsulate Systemically important Financial Institutions globally.
This document has been aligned with both EU DORA and EU NIS 2 (para 23). It sets out requirements to regulated Cloud (CSP), ICT services and infrastructure providers across EU member states.
The regulatory framework outlines the challenges members have with cloud adoption and sets out the basis for the creation of a consistent regulatory framework for cloud adoption and risk management. Well worth reading as cybersecurity risk management regulatory frameworks are developed for the oversight, assurance and attestation of cyber risk, including cloud.
Brian D. McCarthy Rachel V. Rose, JD, MBA Bob Dix
#cybersecurity #cyberriskmanagement #cloudsecurity
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