Introduction

The adoption of cloud-based tools and platforms has revolutionized finance and procurement operations, offering unparalleled scalability, efficiency, and collaborative capabilities. From cloud accounting software and enterprise resource planning (ERP) systems to e-procurement platforms and supplier portals, organizations are entrusting critical financial data and sensitive procurement processes to the cloud. However, this migration introduces a unique set of cybersecurity challenges, including data breaches, misconfigurations, compliance complexities, and the shared responsibility model. Without a clear understanding of these risks and how to effectively manage them, finance and procurement professionals can inadvertently expose their organizations to significant vulnerabilities. This essential training course focuses on equipping these professionals to secure their cloud environments.

This comprehensive training course is meticulously designed to empower finance controllers, procurement officers, auditors, risk managers, and IT security personnel with the essential knowledge and practical skills required to manage cloud-based tools and platforms securely in procurement and accounting functions. Participants will gain a deep understanding of cloud security principles, the shared responsibility model, and best practices for protecting sensitive financial and procurement data in various cloud environments. The course will delve into topics such as cloud access control, data encryption, secure configuration management, vendor risk management for cloud service providers, compliance with cloud security frameworks, and incident response in cloud environments. By mastering the principles and methodologies of Cloud Security for Finance and Procurement Professionals, participants will be prepared to leverage the benefits of cloud technology while effectively mitigating cyber risks, ensuring data integrity, and maintaining regulatory compliance.

Duration: 10 Days

Target Audience

• Financial Controllers and Accountants
• Procurement Managers and Officers
• Supply Chain Managers
• Internal and External Auditors
• Risk Management Professionals
• Compliance Officers
• IT Security and Cybersecurity Professionals (with a focus on business-centric cloud security)
• Business Analysts involved in cloud solution implementation
• Anyone responsible for managing or overseeing cloud-based financial and procurement systems

Course Objectives

• Understand the fundamentals of cloud computing and its implications for finance and procurement.
• Learn the shared responsibility model in cloud security and its impact on their roles.
• Identify and assess cybersecurity risks specific to cloud-based financial and procurement tools.
• Acquire best practices for managing access controls and identity in cloud environments.
• Comprehend the importance of data encryption and data residency for sensitive cloud data.
• Develop skills in secure configuration management for cloud services.
• Understand vendor risk management strategies for Cloud Service Providers (CSPs).
• Learn about key cloud security frameworks and their application to finance/procurement.
• Gain knowledge of data privacy regulations as they apply to cloud data.
• Explore strategies for monitoring and auditing cloud security in their departments.
• Understand incident response protocols for cloud-related security incidents.
• Identify best practices for securing API integrations with cloud platforms.
• Enhance collaboration with IT security teams on cloud migration and security.
• Understand the financial and operational impact of cloud security breaches.
• Prepare for compliance requirements related to cloud security.

Course Content

Module 1: Introduction to Cloud Computing for Finance & Procurement

• What is cloud computing? IaaS, PaaS, SaaS models.
• Benefits of cloud adoption for finance and procurement (e.g., scalability, collaboration).
• Key cloud service providers (CSPs): AWS, Azure, Google Cloud.
• Overview of common cloud-based tools in finance (e.g., accounting software, ERP) and procurement (e-procurement platforms, supplier portals).
• The unique security implications of moving to the cloud.

Module 2: The Shared Responsibility Model in Cloud Security

• Understanding the division of security responsibilities between the CSP and the customer.
• "Security of the cloud" vs. "Security in the cloud."
• What the CSP is responsible for (e.g., physical security, global infrastructure).
• What the customer is responsible for (e.g., data, access management, configurations).
• Misconceptions and common pitfalls in understanding shared responsibility.

Module 3: Cloud Security Risks for Finance and Procurement Data

• Common cloud security challenges: misconfigurations, insecure APIs, unauthorized access.
• Data breaches in cloud environments and their impact on financial/procurement data.
• Insider threats in the cloud and privilege misuse.
• Shadow IT and its risks in cloud adoption.
• Supply chain vulnerabilities related to cloud service providers.

Module 4: Identity and Access Management (IAM) in the Cloud

• Implementing robust IAM strategies for cloud-based financial and procurement systems.
• Principle of least privilege: granting only necessary access.
• Multi-Factor Authentication (MFA) for cloud logins.
• Role-Based Access Control (RBAC) in cloud environments.
• Managing user identities and credentials in cloud.

Module 5: Data Encryption and Data Residency in the Cloud

• Importance of encrypting financial and procurement data at rest and in transit.
• Client-side encryption vs. server-side encryption.
• Key management strategies for cloud encryption keys.
• Understanding data residency requirements for sensitive data (where data physically resides).
• Implications of data sovereignty for international operations.

Module 6: Secure Configuration Management for Cloud Services

• Best practices for securely configuring cloud infrastructure (e.g., networks, storage buckets).
• Automated tools for Cloud Security Posture Management (CSPM).
• Identifying and remediating common cloud misconfigurations.
• Regular auditing of cloud service configurations.
• Compliance with security baselines (e.g., CIS Benchmarks for cloud platforms).

Module 7: Vendor Risk Management for Cloud Service Providers (CSPs)

• Due diligence when selecting cloud service providers.
• Assessing CSP security certifications (e.g., SOC 2, ISO 27001).
• Reviewing CSP contracts and Service Level Agreements (SLAs) for security clauses.
• Understanding third-party and fourth-party risks in the cloud supply chain.
• Ongoing monitoring of CSP security posture.

Module 8: Cloud Security Frameworks and Compliance

• Overview of relevant cloud security frameworks (e.g., CSA Cloud Controls Matrix (CCM), NIST CSF for cloud).
• Mapping compliance requirements (e.g., GDPR, PCI DSS) to cloud security controls.
• Preparing for cloud security audits and regulatory examinations.
• Continuous compliance monitoring in cloud environments.
• The role of cloud audit trails and logging for compliance.

Module 9: Network Security in Cloud Environments

• Cloud-native firewalls and security groups.
• Virtual Private Clouds (VPCs) and network segmentation.
• Secure connectivity to cloud resources (e.g., VPNs, direct connect).
• Intrusion detection/prevention systems (IDS/IPS) in the cloud.
• DDoS protection for cloud-based applications.

Module 10: Application Security in Cloud-Based Tools

• Securing cloud accounting software and ERP applications.
• Vulnerability management for cloud-native applications.
• API security for integrations between cloud platforms and other systems.
• Secure development practices for custom cloud applications.
• Web Application Firewalls (WAFs) for e-procurement portals.

Module 11: Data Privacy in Cloud Procurement and Accounting

• Applying data privacy principles (e.g., data minimization, purpose limitation) in the cloud.
• Data processing agreements (DPAs) with cloud service providers.
• Managing consent for personal data processed in the cloud.
• Responding to data subject requests in cloud environments.
• The impact of cross-border data transfers on cloud operations.

Module 12: Cloud Incident Response and Business Continuity

• Developing an incident response plan for cloud security incidents.
• Roles and responsibilities during a cloud data breach or outage.
• Strategies for containment, eradication, and recovery in the cloud.
• Cloud-native backup and disaster recovery solutions.
• Business continuity planning for critical cloud-based financial and procurement systems.

Module 13: Monitoring and Logging in Cloud Environments

• Leveraging cloud-native logging and monitoring services (e.g., CloudTrail, CloudWatch, Azure Monitor).
• Centralized log management and security information and event management (SIEM) in the cloud.
• Detecting suspicious activities and anomalies in cloud logs.
• Setting up alerts for critical security events.
• Forensic analysis in cloud environments.

Module 14: Emerging Cloud Security Trends

• Serverless computing security and its implications for financial functions.
• Container security (e.g., Docker, Kubernetes) in cloud deployments.
• The rise of DevSecOps in cloud environments.
• Artificial Intelligence (AI) and Machine Learning (ML) in cloud security.
• Cloud access security brokers (CASBs) and their role in visibility and control.

Module 15: Practical Application and Case Studies

• Analyzing real-world cloud security breaches impacting finance and procurement.
• Case studies of successful cloud security implementations.
• Group exercise: designing a cloud security checklist for a specific finance or procurement process.
• Discussion on evaluating the security posture of a potential cloud vendor.
• Action planning for applying cloud security principles within their organization.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training