Learn key considerations and practical applications of the FFIEC standard on outsourced cloud computing.
Regulators, businesses, and consumers expect financial institutions to have robust information controls and to require the same of their vendors. As cloud computing continues to dominate the outsourcing landscape, financial institutions must understand contracting best practices and guidance from the Federal Financial Institutions Examination Council (FFIEC) when engaging outsourced cloud computing providers. While financial institutions should apply the same risk management considerations to outsourced cloud computing activities as are required of traditional forms of outsourcing, cloud computing requires special attention to information controls than other forms of outsourcing, due to the nature of the service. This topic will provide an overview of the key risk considerations for engaging in outsourced cloud computing, including those highlighted by the FFIEC, and will provide guidance for managing and mitigating those risks in practice.
Agenda
Faculty
Elizabeth A. Lamontagne
Foley & Lardner LLP
Elizabeth A. Mitro
- Associate in Foley & Lardner LLP’s Boston office
- Practice includes advising companies of all sizes on development and commercialization of intellectual property assets and negotiating software license, professional and consulting services, nondisclosure, data security, service level, marketing, and cloud computing agreements
- Worked as in-house corporate counsel and served as a strategic adviser to senior management providing legal guidance on data security, privacy, marketing, intellectual property, product development and manufacturing
- Admitted to practice in Massachusetts and New Hampshire
- J.D. degree, Northeastern University School of Law; B.S. degree, magna cum laude, Boston University
Matthew A. Karlyn
Foley & Lardner LLP
- Partner in Foley & Lardner LLP’s Boston office
- Practice focuses on transactions relating to outsourcing and information technology, including IT outsourcing, business process outsourcing, facilities management outsourcing, print services, application development, data center leasing, development and managed services, technology licensing, all aspects of cloud computing transactions, systems integration, privacy, security and information management issues, co-location and software development
- Licensing attorney with 20 years of technology, patent, and life science licensing experience
- Co-chair of Foley’s Technology Industry Team focusing on all types of technology transactions
- Co-author of A Guide to IT Contracting: Checklists, Tools and Techniques
- Served as a CIO-100 Judge, as a member of the Corporate Law Advisory Board, Strafford Publications and Seminars, as chair of the New England Chapter of the International Association of Outsourcing Professionals (IAOP), as a co-chair of the Legal Process Outsourcing Chapter of the International Association of Outsourcing Professionals (IAOP) and as a co-chair of the Boston Bar Association's Intellectual Property Section's Computer & Internet Law Committee
- Has served as a member of the board of directors of the Information Technology Law Association, the ITECH Law Annual Meeting & World Conference Planning Committee, and is a member of the International Association of Privacy Professional
- M.B.A. degree in economics and strategic management, The University of Chicago Graduate School of Business; J.D. degree, Temple University; B.A. degree in political science and East Asian studies, cum laude, Union College
- Can be contacted at 617-502-3239 or [email protected]
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