SOC2 CC3 - Risk Assessment

Control: CC3 - Risk Assessment Status: Procedure template Last Updated: 2025-12-16 Owner: Security Leadership

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Overview

This document defines risk assessment procedures for organizations using CloudForge CI. Risk assessment identifies and analyzes risks to achieving objectives, forming the basis for determining how risks should be managed. These procedures are a template for addressing SOC2 CC3 (Risk Assessment) requirements.

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CC3.1 - Objectives Specification

Security Objectives

Objective	Description	Metrics
Confidentiality	Protect sensitive data from unauthorized access	Zero data breaches
Integrity	Ensure data accuracy and completeness	Zero unauthorized modifications
Availability	Maintain service uptime	99.9% availability SLA
Compliance	Meet regulatory requirements	Zero audit findings
Resilience	Recover from incidents quickly	RTO < 4 hours, RPO < 1 hour

CloudForge CI Security Objectives Alignment

Business Objective	CloudForge CI Control	Measurement
Protect customer data	Encryption at rest/transit, access controls	AWS Config compliance
Prevent unauthorized access	IAM roles, security groups, WAF	GuardDuty findings
Maintain availability	Multi-AZ, auto-scaling, backups	CloudWatch metrics
Demonstrate compliance	Automated compliance rules	Security Hub score

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CC3.2 - Risk Identification and Analysis

Risk Assessment Process

┌─────────────────┐     ┌─────────────────┐     ┌─────────────────┐
│  Asset          │────>│  Threat         │────>│  Vulnerability  │
│  Identification │     │  Identification │     │  Assessment     │
└─────────────────┘     └─────────────────┘     └─────────────────┘
                                                        │
┌─────────────────┐     ┌─────────────────┐            │
│  Risk           │<────│  Impact &       │<───────────┘
│  Treatment      │     │  Likelihood     │
└─────────────────┘     └─────────────────┘

Asset Inventory (CloudForge CI Components)

Asset Category	Examples	Data Classification
Compute	ECS tasks, EC2 instances, Lambda functions	Internal
Data Stores	RDS databases, S3 buckets, EFS volumes	Confidential
Network	VPCs, load balancers, CloudFront	Internal
Secrets	KMS keys, Secrets Manager, certificates	Confidential
Logs	CloudTrail, CloudWatch, VPC Flow Logs	Internal

Threat Categories

Threat Category	Examples	Likelihood	CloudForge CI Mitigation
External Attack	DDoS, injection, brute force	High	WAF, security groups, rate limiting
Insider Threat	Data theft, sabotage	Medium	IAM, audit logging, least privilege
Misconfiguration	Open S3, permissive SG	High	Config rules, compliance validation
Data Breach	Unauthorized data access	Medium	Encryption, access controls
Service Outage	AWS failure, deployment error	Medium	Multi-AZ, backups, rollback
Supply Chain	Compromised dependencies	Medium	Code scanning, image scanning

Risk Scoring Matrix

	Impact
Likelihood	Negligible (1)	Minor (2)	Moderate (3)	Major (4)	Severe (5)
Almost Certain (5)	5	10	15	20	25
Likely (4)	4	8	12	16	20
Possible (3)	3	6	9	12	15
Unlikely (2)	2	4	6	8	10
Rare (1)	1	2	3	4	5

Risk Levels: Low (1-4), Medium (5-9), High (10-15), Critical (16-25)

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CC3.3 - Fraud Risk Assessment

Fraud Risk Categories

Fraud Type	Risk Indicators	Controls
Financial Fraud	Unauthorized transactions	Separation of duties, approval workflows
Data Theft	Bulk data downloads	DLP, access logging, alerts
Resource Abuse	Crypto mining, unauthorized compute	Cost alerts, resource monitoring
Credential Theft	Unusual login patterns	GuardDuty, MFA enforcement
Vendor Fraud	Fake invoices	Procurement controls, verification

CloudForge CI Fraud Detection

Detection Method	Implementation	Alert Trigger
Anomaly Detection	GuardDuty ML models	Unusual API patterns
Cost Monitoring	AWS Budgets, Cost Anomaly Detection	Unexpected cost spikes
Access Patterns	CloudTrail analysis	Off-hours access, bulk operations
Data Exfiltration	VPC Flow Logs, S3 access logs	Large outbound transfers

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CC3.4 - Change-Related Risk Assessment

Change Risk Categories

Change Type	Risk Level	Assessment Required
Emergency Fix	High	Post-implementation review
Security Patch	Medium	Standard change process
New Feature	Medium-High	Full risk assessment
Infrastructure Change	High	Full risk assessment
Configuration Change	Low-Medium	Peer review

Change Risk Assessment Template

CHANGE RISK ASSESSMENT
======================
Change ID: [ID]
Date: [Date]
Requestor: [Name]

CHANGE DESCRIPTION
------------------
[Detailed description]

RISK ASSESSMENT
---------------
1. What could go wrong?
   - [Risk 1]
   - [Risk 2]

2. What is the impact if it goes wrong?
   - [Impact assessment]

3. What is the likelihood?
   - [ ] Low  [ ] Medium  [ ] High

4. What are the rollback procedures?
   - [Rollback steps]

5. What testing was performed?
   - [Test summary]

RISK SCORE: [Low/Medium/High/Critical]

APPROVALS
---------
Technical Review: _____________ Date: _____
Security Review:  _____________ Date: _____
Management:       _____________ Date: _____

CloudForge CI Change Controls

Control	Implementation	Purpose
Infrastructure as Code	CloudFormation	Versioned, reviewable changes
Drift Detection	AWS Config	Detect unauthorized changes
Deployment Validation	cfn-guard rules	Prevent non-compliant deployments
Rollback Capability	CloudFormation rollback	Quick recovery from failures
Change Logging	CloudTrail	Audit trail for all changes

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Risk Register Template

Risk ID	Description	Category	Likelihood	Impact	Score	Treatment	Owner	Status
R001	Unauthorized data access	Data Breach	Possible (3)	Major (4)	12	Mitigate	Security	Open
R002	Service unavailability	Availability	Unlikely (2)	Moderate (3)	6	Accept	Operations	Open
R003	Misconfigured S3 bucket	Misconfiguration	Likely (4)	Major (4)	16	Mitigate	Cloud Admin	Open

Risk Treatment Options

Treatment	When to Use	Example
Mitigate	Risk can be reduced with controls	Implement encryption
Accept	Risk is within tolerance	Minor UI bug
Transfer	Risk can be shared	Cyber insurance
Avoid	Risk is unacceptable	Don't store certain data

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Risk Assessment Schedule

Assessment Type	Frequency	Participants	Output
Annual Risk Assessment	Yearly	Security, Compliance, Leadership	Risk register update
Quarterly Review	Quarterly	Security team	Risk status report
Change Risk Assessment	Per change	Change owner, Security	Change approval
Incident Post-Mortem	Per incident	Incident team	Lessons learned
Penetration Test	Annual	External vendor	Vulnerability report

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Audit Checklist

• Risk register maintained and current
• Annual risk assessment completed
• Quarterly risk reviews documented
• Change risk assessments performed for significant changes
• Fraud risk assessment completed annually
• Risk treatment plans documented for high/critical risks
• GuardDuty and Security Hub enabled and monitored
• Penetration testing completed annually