Managing Vendor Risks in the Cloud

Description

Overview

This training program is designed to equip professionals with the knowledge and skills needed to identify, assess, and mitigate risks associated with third-party cloud vendors. Participants will learn best practices for vendor risk management (VRM) in cloud environments, ensuring compliance, security, and operational resilience.

Duration:

• 2-Day Intensive Workshop (or customizable to 1-5 days based on depth)

• Format: Virtual/In-Person (Instructor-Led + Case Studies + Group Exercises)

Key Objectives

By the end of this program, participants will be able to:

1. Understand the unique risks associated with cloud vendors (e.g., data breaches, compliance gaps, service disruptions).

2. Evaluate cloud service providers (CSPs) using risk assessment frameworks (e.g., CSA STAR, ISO 27001, NIST CSF).

3. Implement effective vendor due diligence and continuous monitoring processes.

4. Mitigate risks through contract negotiation, SLAs, and contingency planning.

5. Ensure compliance with regulations (GDPR, HIPAA, CCPA, FedRAMP) when engaging cloud vendors.

6. Develop a structured Vendor Risk Management (VRM) program for cloud services.

Program Content

Module 1: Introduction to Cloud Vendor Risks

• Cloud adoption trends and associated risks

• Types of cloud vendors (IaaS, PaaS, SaaS) and their risk profiles

• Shared Responsibility Model in cloud security

Module 2: Vendor Risk Assessment & Due Diligence

• Key risk indicators (KRIs) for cloud vendors

• Security questionnaires & assessment frameworks (CSA STAR, SIG, SOC 2)

• Third-party audit reports (e.g., ISO 27001, FedRAMP)

Module 3: Contract & SLA Risk Management

• Critical clauses in cloud contracts (data ownership, breach notification, exit strategies)

• Negotiating SLAs for uptime, performance, and security

• Right-to-audit clauses and liability limitations

Module 4: Compliance & Regulatory Risks

• Global regulations impacting cloud vendors (GDPR, HIPAA, CCPA)

• Cross-border data transfer risks (Schrems II, EU-US DPF)

• Industry-specific compliance (financial services, healthcare, government)

Module 5: Continuous Monitoring & Incident Response

• Tools for real-time vendor risk monitoring

• Handling breaches and vendor-related incidents

• Exit strategies and contingency planning

Module 6: Building a Cloud VRM Program

• Roles & responsibilities (Risk, Legal, IT, Procurement)

• Integrating VRM into broader cloud governance

• Case studies & lessons learned from high-profile vendor failures

Learning Outcomes

After completing this training, participants will:
✔ Identify critical risks in cloud vendor relationships.
✔ Conduct thorough due diligence on cloud providers.
✔ Negotiate stronger contracts and SLAs to protect organizational interests.
✔ Monitor vendor performance and compliance continuously.
✔ Respond effectively to vendor-related security incidents.
✔ Develop a structured VRM strategy for cloud environments.

Key Takeaways

• Checklists & Templates: Vendor risk assessment questionnaires, contract review checklists.

• Frameworks & Tools: NIST, CSA STAR, SIG Lite, risk scoring models.

• Actionable Strategies: Steps to implement VRM in cloud procurement.

• Networking: Peer discussions and expert insights on real-world challenges.

Who Should Attend?

• Risk & Compliance Managers

• Cloud Security & IT Professionals

• Procurement & Vendor Management Teams

• Legal & Data Privacy Officers

• CISOs & IT Governance Leaders

Delivery Options

• In-Person Workshop (Interactive sessions + group exercises)

• Virtual Training (Live instructor-led + breakout rooms)

Certification (Optional)

Participants can earn a “Certified Cloud Vendor Risk Manager” badge upon passing a post-training assessment.

Next Steps

Interested in this program? Contact us for:

• Customized in-house training

• Scheduled public workshops

• Detailed agenda and pricing