Commentary on Cloud Technology Risk and Controls for Regulators and Regulated Entities

Summary

While emerging technologies and practices are a key enabler for financial institutions and financial consumers, its widespread use and rapid adoption can pose risks in many different business areas if not properly understood and managed.

Sourced has had the privilege of working with financial institutions across the globe during various stages of their cloud deployments to ensure compliance with their respective regulatory bodies, most notably the Australian Prudential Regulatory Authority (APRA) and the Monetary Authority of Singapore (MAS).

This whitepaper is informed through Sourced’s experience working with regulators and Regulated Financial Institutions (RFIs) globally. It also provides recommendations for deepening approaches to cloud computing policy and understanding the opportunities and risks RFIs face when adopting cloud technology and new ways of working at scale across their business.

Matt Coombe has over 17 years of experience in the technology sector, specialising in the financial services industry and regulatory ecosystem across Australia, New Zealand and North America. Matt has led the planning, execution and operation of the hybrid cloud transformations on Microsoft Azure, Google and AWS platforms for some of the largest and most security-conscious banks globally.

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