easy · FRM Part 2 Operational Risk
Regulators are increasingly concerned about 'systemic single points of failure' in financial services.
What is the primary driver of this concern in the context of cloud migration?
- The difficulty of hiring enough qualified cloud security engineers at each individual bank.
- The relatively high recurring cost of monthly subscription fees for enterprise-grade cloud services.
- The concentration of many financial institutions on a very small number of cloud service providers.
- The lack of adequate encryption controls for sensitive customer data stored within a public cloud environment.
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