Risk management in the cloud is an ongoing process. As your business changes, your cloud platform will have to evolve as well. Cloud security assessments are an important measure to take to ensure that expansion doesn’t lead to new risks,
| “There is too much at risk that you could lose if you neglect regular security assessments across your IT infrastructure.” – Adam Radulovic, CEO of XL.net |
However, only 45% of organizations perform regular security assessments. This is a problem, especially if you work in a multi-cloud environment. Multi-cloud setups increase complexity, which make it harder to detect and address vulnerabilities without consistent assessments.
There are also 2 types of cloud assessments, cloud security and cloud risk assessments. The rest of this article will explore these differences, why they are important, and how to conduct a security assessment.
What’s The Difference Between a Cloud Security Assessment & a Cloud Risk Assessment?
A cloud security assessment and a cloud risk assessment are related processes, but they differ in their scope, purpose, and methodology.
In a nutshell, cloud security assessments evaluate the security posture of a cloud environment while cloud risk assessments identify risks associated with cloud adoption or operation, including business and financial risks, not just cybersecurity risks.
Therefore, there are different processes and tools involved in each. Often, these processes overlap and some organizations may conduct both assessments in tandem.
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Why Cloud Security Assessments Are Important
1. For Identifying Vulnerabilities
A cloud security assessment identifies specific vulnerabilities in your cloud environment that could lead to unauthorized access or system failures. By pinpointing these weaknesses, you can take focused steps to protect your sensitive data and cloud infrastructure.
2. To Strengthen Your Network Security
This assessment improves your network security by showing where to make changes. It can help you determine specific steps to improve network configurations, such as tightening access controls or improving firewall rules. Strengthening these areas makes your network more resilient against cyber attacks.
3. To Reduce Potential Exposure
Cloud security assessments help lower the likelihood of data breaches by identifying misconfigurations and correcting misaligned practices. These errors account for 15% of initial attack vectors in security breaches. Through this an assessment, you can evaluate your security framework to ensure it meets industry standards and addresses emerging risks.
When Should You Perform a Cloud Security Assessment?
There are several instances when you will need to perform a cloud security assessment. Here is an overview of them.
| Before Cloud Deployment | To ensure the cloud environment is securely configured before it becomes operational. |
| After Significant Changes | When implementing major updates, adding new services, or altering configurations in your cloud environment, to verify security controls remain effective. |
| On a Regular Schedule | Set a regular schedule to perform security assessments based on your organization’s risk tolerance, operational needs, and compliance obligations. |
| After Security Incidents | To assess the extent of the issue, identify weaknesses, and strengthen the security posture to prevent future incidents. |
| Before Compliance Audits | To meet regulatory or industry standards and ensure the environment aligns with applicable security requirements. |
| During Mergers or Acquisitions | To evaluate the security of newly acquired or merged cloud assets and integrate them securely. |
Step-by-Step Cloud Security Assessment Checklist
1. Define Scope & Objectives
Clearly define the scope of the assessment by identifying the cloud environments you need to evaluate. Set specific objectives, such as verifying compliance, detecting vulnerabilities, or assessing configurations. This ensures the assessment stays focused and addresses key security needs.
2. Collect Documentation
Gather all relevant information about the cloud environment. This includes architecture diagrams, security policies, and access control lists. Review SLAs and compliance requirements to understand the standards that must be met.
3. Evaluate Access Controls & Security Configurations
Evaluate access controls by checking user permissions and roles to ensure they follow the principle of least privilege. Verify that only the right people have access to the right resources. Check the security settings in the cloud environment, such as encryption, firewalls, and logging. Confirm that features like multi-factor authentication (MFA) are active.
You may be surprised to discover how many cloud-based security practices are being neglected at your organization. For example, encryption is a common practice and it is required by many compliance frameworks. Yet, 83% of organizations are not encrypting their data.
4. Scan for Vulnerabilities
Use automated tools to identify misconfigurations and vulnerabilities in the cloud environment. If applicable, evaluate the security of virtual machines and containers for additional risks. Penetration testing is usually an effective procedure to conduct during this step.
5. Test Incident Response Capabilities
Review the mechanisms in place for detecting and responding to threats. Simulate incidents to test whether the monitoring and logging systems effectively support quick responses. After this step is complete, you will have a strong idea of where your cloud server is most vulnerable.
6. Provide Recommendations & Report Findings
Document any weaknesses and gaps found during the assessment. Prioritize these findings based on the likelihood of occurrence and the potential impact. Focus on addressing the most critical risks first.
Offer clear and actionable solutions for addressing the identified risks. Compile all findings into a detailed report, including an executive summary and technical details. Ensure that the recommendations align with organizational objectives and are practical for implementation.
Why Cloud Risk Assessments Are Important
1. For Managing Business Risks
A cloud risk assessment evaluates risks tied to operational workflows, regulatory compliance, and third-party integrations. It allows businesses to recognize which risks could impact their operations and prioritize them based on severity. This focused approach ensures resources are allocated effectively to mitigate critical threats.
2. To Support Decision-Making
Risk assessments provide valuable insights that guide decisions on cloud adoption and optimization. They evaluate the potential impact of new cloud services or updates to help organizations make informed choices. This ensures that cloud strategies support business goals while addressing challenges.
3. For Protecting Business Continuity
Cloud risk assessments help you prepare for problems that could interrupt your business. They help you lay out the steps you need to take to reduce downtime and keep operations running smoothly during incidents. This preparation protects your business from financial losses and reputational harm.
When Should You Perform a Cloud Risk Assessment?
Sometimes, the right time to perform a cloud risk assessment is at the same time as your cloud security assessment, such as before cloud deployment and after significant changes. However, there are other times when a cloud risk assessment should take priority. Here are some examples.
| When Evaluating Cloud Providers | To assess the business, financial, and operational risks associated with potential vendors before committing. |
| During Strategic Planning | To identify risks tied to adopting new cloud computing technologies or expanding cloud use. |
| Annually or During Policy Reviews | To review and mitigate evolving risks in line with organizational goals and regulatory changes. |
| Prior to Third-Party Integrations | To evaluate risks introduced by external partnerships or services connecting to your cloud environment. |
| After Major Business Events | Such as mergers, acquisitions, or significant market changes that could affect potential risk exposure. |
Step-by-Step Cloud Security Risk Assessment Checklist
1. Define Scope & Objectives
Decide which cloud services and operations to assess. Identify whether the focus is on business, operational, financial, or cybersecurity risks. This helps ensure the assessment remains aligned with organizational goals.
2. Identify Key Assets & Stakeholders
Create a list of the critical assets and data stored or processed in the cloud. Identify key stakeholders who manage or depend on these assets, as their input will be crucial during the assessment.
3. Understand Dependencies & Identify Risks
Map out dependencies on third-party cloud providers and integrations. Evaluate risks tied to these dependencies, such as service outages or data handling practices. Assess potential threats like data leaks, compliance failures, or service disruptions. Identify vulnerabilities in configurations, processes, or policies that may expose the organization to these risks.
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4. Assess Business Impact
Once you’ve identified your risks, assess how they could impact the business. Think about financial losses, operational delays, or harm to the company’s reputation. Rank each risk based on how severe it is and how likely it is to happen.
5. Quantify Risks & Develop Mitigation Strategies
Use a risk matrix to categorize risks as low, medium, or high. Recommend actions to reduce exposure to each risk. This may include improving controls, updating processes, or diversifying vendor relationships to minimize dependency risks.
6. Compile & Share a Risk Report
Create a comprehensive report summarizing the risks, their potential impact, and recommended strategies for mitigation. Provide clear, actionable steps that stakeholders can implement to address the identified risks.
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Enhance Your Cloud Security Posture With Our Experts
If you would rather leave the heavy lifting to someone else, you can count on XL.net’s experts to conduct cloud assessments for you. Our team will pinpoint exactly what you need to do to enhance your security posture without compromising your cloud performance.
Talk to us today to get started.