Are you prepared for the seismic shift about to occur in the European financial sector come January 2025?
The Digital Operational Resilience Act (DORA) is on the horizon, poised to revolutionize how financial institutions navigate and mitigate operational risks in the digital landscape. To thrive in this new regulatory landscape, you need more than just a cursory understanding of DORA – you need a comprehensive roadmap for compliance.
Download the checklist for a list of imperatives within:
- ICT Risk Management and Governance
- Incident Response and Reporting
- Digital Operational Resilience Testing
- Third-Party Risk Management
- Information & Intelligence Sharing Arrangements
You’re going to need to have a robust framework in place – and evidence of it — to drive operational resilience amidst disruptions.
Dive in to gain a high-level understanding of how to navigate its regulatory framework effectively today.
Understanding DORA and Its Regulatory Framework
Explore the intricate layers of the Digital Operational Resilience Act (DORA) to gain a high-level understanding of its implications and how to effectively navigate its regulatory framework. Learn how DORA mandates the enhancement of operational resilience within the financial sector by focusing on protection, detection, containment, recovery, and repair capabilities, specifically targeted at ICT-related incidents. DORA aims to homogenize requirements across the EU, so that financial services organizations are able to withstand, respond, recover and maintain their operations even under severe operational disruptions.
Navigating the Five Domains of DORA Compliance
Explore the essential domains of DORA compliance through a detailed checklist encompassing:
ICT Risk Management and Governance
Establishing and maintaining robust governance frameworks, conducting risk assessments, developing comprehensive security policies, and providing regular security awareness training.
Incident Response and Reporting
Creating efficient incident response plans, classifying incidents effectively, establishing communication protocols, conducting post-incident analysis, and ensuring regulatory compliance in incident reporting.
Digital Operational Resilience Testing
Developing testing frameworks, conducting regular risk assessments, maintaining detailed documentation, and establishing processes for continuous improvement.
Third-Party Risk Management
Implementing vendor assessments, include security obligations in contracts, monitoring and auditing third-party vendors, coordinating incident responses, and staying aligned with regulatory requirements.
Information & Intelligence Sharing Arrangements
Collaborating with other financial institutions, developing data sharing protocols, sharing threat intelligence, and coordinating efforts to identify emerging threats.
Prepare for DORA compliance with our comprehensive checklist. Navigate regulatory complexities and bolster operational resilience effortlessly.
Ensure Compliance and Operational Resilience
The Digital Operational Resilience Act (DORA) is designed to enhance the operational resilience of the European financial sector by addressing key operational risk categories through stringent compliance measures. By downloading this checklist, you equip yourself with the necessary tools to ensure compliance with DORA regulations, thereby safeguarding your organization against potential disruptions and enhancing operational resilience.
Mitigate Risks and Protect Your Organization
Prepare for the upcoming DORA regulations in January 2025 with confidence by implementing robust risk management practices outlined in the checklist. By proactively assessing and mitigating ICT risks, establishing efficient incident response protocols, conducting resilience testing, managing third-party risks effectively, and fostering information-sharing arrangements, you not only comply with regulatory requirements but also fortify your organization against cyber threats and operational vulnerabilities.
Navigate Through the Challenges & Leverage the Opportunities of DORA
Leveraging Technology for Seamless Compliance
Accelerate your DORA compliance journey by leveraging advanced GRC (Governance, Risk, and Compliance) technology solutions, such as Mitratech’s Alyne GRC platform. With fully centralized and customizable features tailored to the DORA framework and Regulatory Technical Standards (RTS), Mitratech’s solution streamlines compliance management processes, enabling you to adapt swiftly to evolving regulatory landscapes and achieve operational excellence.
Embrace the Future: Your Path to Operational Resilience
The Digital Operational Resilience Act (DORA) heralds a new era of regulatory compliance and operational resilience within the European financial sector. By downloading our comprehensive checklist, you gain invaluable insights into navigating DORA compliance requirements across various domains, empowering your organization to mitigate risks, protect assets, and thrive in an increasingly digitized landscape. Embrace the future of compliance with confidence, and leverage technology to unlock the full potential of operational resilience.
Elevate your GRC program today!
Reach out to our team with any questions, schedule a demo or learn more about Mitratech’s GRC solutions.
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