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In this document CSA provides an approach to assess risk in SaaS cloud computing. The Cloud Octagon Model stems from an approach conceptualized and implemented by the Cloud Security Group within the Technology & Engineering department, Corporate Information Security Office (CISO), ABN AMRO Bank NV (Netherlands). It counts such aspects as procurement, IT governance, architecture, development and engineering, service providers, risk processes, data classification, and country. The model provides practical guidance and structure to all involved risk parties in order to keep pace with rapid changes in privacy and data protection laws and regulations, and changes in technology and its security implications. The model aims to:

• reduce risks associated with cloud computing;
• improve the effectiveness of the cloud risk team;
• improve manageability of the solution; and
• improve security.

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