The Digital Operational Resilience Act: Mastering resilience in a digital world
DORA is an EU regulation that all Finance Organisations must have in place to do business within the EU. This regulation is in the interest of protecting customers and ensuring that banks, investment firms, payment providers, and other financial institutions, have resilient Information and Communication Technology (ICT) to deal with IT-related threats.
DORA regulatory requirements
Incident reporting and transparency
Organisations must report major ICT-related incidents within specific timeframes to authorities, ensuring swift action can be taken if required.
Change management
Any changes that may impact the confidentiality, integrity, or availability of critical systems must be documented and approved before implementation.
ICT Risk management
The implementation of stringent ICT risk management frameworks with clearly defined processes and carefully selected technology systems, to ensure that risk identification, assessment, mitigation, and resolution are handled in line with the standards set by DORA.
Third-party risk management
Make sure your external vendors for critical services have robust risk management and resilience standards in place.
Being compliant is more than adhering to regulations
This shows external stakeholders - such as customers, that you have your services in order from the inside, instilling trust in your capabilities as a service provider. Here are some more reasons why you should become DORA compliant:
Reduce cybersecurity risks
By increasing awareness of threats your organisation is facing, taking mitigation steps and prepare for response and prompt recovery
Foster trust with customers and stakeholders
Demonstrate your commitment to security and reliability, strengthening relationships and expanding your customer base.
Boost operational resilience
Prepare your business to withstand disruptions from incidents and supply chain challenges, ensuring quick recovery.
Maintain a competitive edge
Use compliance as a differentiator to stand out from competitors and unlock new opportunities.
Optimise internal operations
Implement best practices in service management and governance to enhance efficiency and support better decision-making.
Align with EU-wide standards
Reduce regulatory complexity and facilitate seamless cross-border operations.
Become DORA compliant and more
Eliminate your organisation's compliance burden, and let us do the heavy lifting. We don’t consider this a ‘tick box’ exercise but an opportunity to improve the maturity and longevity of your service management solution. Our specially curated solutions will do more than help with your DORA compliance.
Risk management: Risk Register and governance integration aligned with DORA Article 5.
Identify, assess, monitor, and mitigate ICT risks, providing the foundation for compliance with DORA's ICT risk management framework. Solution key features: Risk Register, Governance Integration, Continuous Monitoring, Risk Heatmap, and Governance Reports.
Identify, assess, monitor, and mitigate ICT risks, providing the foundation for compliance with DORA's ICT risk management framework. Solution key features: Risk Register, Governance Integration, Continuous Monitoring, Risk Heatmap, and Governance Reports.
Testing: Comprehensive testing program linked to risks, ensuring resilience and compliance with Article 10.
Plan, track, and document testing activities (e.g. resilience testing, penetration testing) and validate mitigation measures against identified risks.
Plan, track, and document testing activities (e.g. resilience testing, penetration testing) and validate mitigation measures against identified risks.
ITIL Service Management: Workflows for the timely reporting of major ICT incidents, addressing Article 19 requirements. Dependency tracking and SLA management in line with Articles 28-32.
Oversee operational ICT services, ensuring risks are minimised through incident management, change enablement, and problem resolution. Solution key features: Incident Management with classification fields for DORA reportable events, Problem Management, Change Enablement with Risk Assessment fields and mandatory Testing Workflows, and Service Requests with prioritisation for ICT resilience.
Oversee operational ICT services, ensuring risks are minimised through incident management, change enablement, and problem resolution. Solution key features: Incident Management with classification fields for DORA reportable events, Problem Management, Change Enablement with Risk Assessment fields and mandatory Testing Workflows, and Service Requests with prioritisation for ICT resilience.
Manage your risks, become compliant, and protect your organisation today.
Contact our experts today and become DORA compliant with confidence.