Gartner Research

Regulatory Compliance Alone Cannot Mitigate Cloud Vendor Risks

Published: 09 February 2015

ID: G00269987

Analyst(s): Jay Heiser , Gayla Sullivan , Rob McMillan

Summary

Driven by instances of data loss and breach, including cloud exposures, regulators have imposed more stringent vendor risk management requirements. IT vendor risk managers must ensure regulatory compliance, but must also address cloud vendor risks that remain unmitigated by these standards.

Table Of Contents
  • Key Challenges

Introduction

  • The Challenge of Cloud Vendor Risk Management
    • Cloud Vendor Risk Management Approaches

Analysis

  • Determine Cloud Vendor Risks That Must Be Assessed for Your Industry and Data Types
    • Consider Vendor Value Chain Risk (Fourth-Party Risk)
  • Conduct Cloud Vendor Risk Assessments
    • Use Focused Vendor Questionnaires for Each Engagement
    • Assess Vendors for Industry-Specific Needs
    • Assess Cloud Vendor Controls
    • Evaluate Findings
    • Quantify Cloud Vendor Risk Impacts and Enterprise Exposure
  • Determine If Residual Risks Can Be Accepted
  • Ensure Vendor Risk Mitigation Plans Become Contractual Obligations
  • Monitor Cloud Vendors and Risks in an Ongoing Vendor Risk Management Program
  • A Final Word of Caution
  • Case Study

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