Financial Institutions’ Cloud Data Security: Maximizing Opportunities and Mitigating Risks in 2017 and Beyond
The proliferation of cloud services and products has created significant opportunities for financial institutions. However, despite the opportunities, there are several challenges that financial institutions should be wary of before contracting for any cloud-based IT services. Among these challenges are: information security risks, customer privacy concerns and regulatory compliance issues. To maximize the opportunities offered by cloud, businesses in the financial services industry must understand these challenges and develop policy and programs that will address potential risks and issues.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders brought together by The Knowledge Group will help financial institutions understand the important aspects of cloud data security. They will provide an in-depth discussion of the different challenges and issues to consider before adopting cloud technology. The speakers will also offer best practices on how to leverage opportunities and mitigate the risks of cloud computing.
The key topics that will be covered are:
- The Benefits and Risks of Cloud Computing
- Data Privacy and Security Concerns
- Recent Regulatory Issues and Developments
- Evaluating a Cloud Services Provider
- Risk Mitigation Strategies
- Establishing Effective Data Security Management
Elizabeth E. McGinn, Partner
- Reasons why financial institutions are moving towards cloud computing
- Potential benefits
- Issues to be aware of and recent cases
- Discussion of recent regulatory pronouncements
- Vendor management issues
- What to look for in a provider
- Tips for due diligence
Alex Hernandez, VP of Customer Solutions
- Cybersecurity is the #1 risk to financial markets
- Mitigating Risks by using the Cloud
- Regular penetration testing for physical, social and software security
- Advanced, software-defined security (e.g. automatically restricts access so services that shouldn’t talk to each other are not able to)
- Highly Accredited
- Why not just use co-located services?
- Scalability and innovation abilities with the cloud
Jamal Elmellas, Technical Director
Auriga Consulting Ltd
- Expand on risk management issues related to cloud and SaaS
- Contracting issues, e.g. “right to be forgotten”
- Regulatory concerns including the EU’s General Data Protection Regulation, effective in May
Who Should Attend:
- Financial Institutions
- Top Level Management
- Cyber Security Professionals
- Chief Financial Officers
- IT Professionals
- Financial Officers
- In-house Counsel
- Risk Officers and Administrators
- Regulatory and Compliance Personnel
- Financial and Executive Directors
- Senior Financial Professionals
Alex Hernandez brings more than 20 years of experience in providing security solutions to some of the largest companies in the world.
Hernandez is a recognized authority on Internet security, having worked with numerous Fortune 500 companies to design and implement security solutions across email, Web, application and network infrastructures. At DefenseStorm he helps to design and implement solutions that allow financial institutions to unify detection, investigation, reporting, and compliance into a single place to manage cybersecurity data – while also making the daily work of cybersecurity professionals easier, so they can focus on stopping cyber-criminals instead of busy work.
Hernandez is regularly sought after by banking associations and state banking schools across the country to discuss cybersecurity and the evolving threat landscape as it relates to financial institutions; because while banks have similar needs to other corporations, they have unique security needs that present a compelling requisite for a solution that keeps our country’s most sensitive financial data secure from foreign attackers and organized criminals. As an expert in the field of IT and security, he too has spoken at regional and national IT/security conferences; including Interop, RSA and ISSA.
Prior to DefenseStorm, Hernandez worked with several leading security solutions providers, including Barracuda Networks, Purewire, Secure Computing, CipherTrust, S1 and SecureWare.
Alex Hernandez brings more than 20 years of experience in providing security solutions to some of the largest companies in …
Elizabeth McGinn, a partner at BuckleySandler LLP, represents financial institutions in investigations, examinations and litigation initiated by the Consumer Financial Protection Bureau, the New York Department of Financial Services, the Department of Justice, the Department of Housing and Urban Development, the Federal Trade Commission, state attorneys general and the bank regulatory agencies. She has represented financial institutions in class action litigation concerning federal and state fair lending laws, mortgage fraud, unfair and deceptive trade practices statutes, consumer fraud statutes and consumer privacy laws. Ms. McGinn received her J.D. from The American University, Washington College of Law in 2000 (cum laude) and received a B.S. from St. Lawrence University.
Elizabeth McGinn, a partner at BuckleySandler LLP, represents financial institutions in investigations, examinations and litigation initiated by the Consumer Financial …
Jamal Elmellas is Technical Director at Auriga Consulting Ltd where he manages and oversees the technical administration of complex projects, and business strategy, assisting the implementation team with all aspects of security architecture.
Previously Director of Data Barrier Ltd, a company that was instrumental in the deployment of a PAN Government Cloud solution in the UK, Jamal joined Auriga as a direct result of the company's acquisition in 2011. As a CLAS Security Consultant, he has advised upon a number of high profile public sector projects and has also been involved in the development of secure, CESG compliant system on behalf of the MoD and MoJ. In the private sector, he was also pivotal in achieving both PCI and ISO 27001 compliance for a well-known global fitness chain and airport transport provider.
In addition to his familiarity with compliance standards and Cyber security architecture, Jamal also speacialises in the transistion of traditional based infrastructure into virtualised environments.
Jamal Elmellas is Technical Director at Auriga Consulting Ltd where he manages and oversees the technical administration of complex projects, …
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Method of Presentation:
Knowledge of cloud computing
NASBA Field of Study:
Information Technology - Technical
NY Category of CLE Credit:
Areas of Professional Practice
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DefenseStorm is a Security Data Platform that watches everything on your network and matches it to your policies, providing cybersecurity management that is safe, compliant and cost effective. Built from the ground up in the cloud, DefenseStorm unifies detection, investigation, reporting, and compliance into a single place to manage cybersecurity data. Formed by bankers and technology experts, DefenseStorm aggregates event data across all cybersecurity tools and links policies to real-time alerts, so that financial institutions can prove to regulators they are both secure and compliant with evolving FFIEC cybersecurity requirements. For more information please visit www.DefenseStorm.com.
About BuckleySandler LLP
With more than 160 attorneys in Washington, DC, New York, Chicago, Los Angeles, and London focused on financial services law and litigation and enforcement matters, BuckleySandler has quickly gained a reputation for solving litigation, enforcement, compliance, regulatory, and transactional challenges for clients, and even turning them into business opportunities.
About Auriga Consulting Ltd
Auriga is a Cyber Security specialist, providing solutions to complex problems. Its service portfolio spans simple risk management through to the operation of a Managed Security Operations Centre and delivery of secure architecture.
As a trusted supplier to many high profile Government Departments, Agencies and Private Sector organisations Auriga offers Clients a cyber protection journey from design through to continuous monitoring. Auriga is a privately owned company, that has grown based on merit, results and services.