The European Union’s (EU) new Digital Operational Resilience Act (DORA) is set to reshape how financial institutions handle their cybersecurity and operational risks. Taking effect in January 2025, DORA will impose a range of new standards and requirements. However, with detailed guidelines (level II texts) expected only by late 2024, firms face a tight timeline to meet compliance.
DORA’s comprehensive regulatory framework aims to enhance the cybersecurity and operational resilience of financial entities within the EU. By introducing uniform standards across the financial sector, it ensures consistency in cybersecurity practices and strengthens operational resilience.
Navigating DORA compliance webinar
DORA compliance involves rigorous oversight of third-party service providers. Doing so requires thorough due diligence and continuous monitoring of third-party relationships to identify risks. DORA also establishes a robust incident reporting framework, compelling firms to notify regulators of significant incidents. Financial institutions must conduct advanced testing of their digital operational resilience capabilities. Part of this includes through penetration testing, vulnerability assessments, and simulation exercises.
DORA emphasizes strong governance and risk management frameworks, pushing firms to establish clear cybersecurity policies approved and overseen by senior management. This comprehensive approach ensures that all employees understand the importance of operational resilience and fosters a culture of accountability.
Hosted by GRC World Forums, in partnership with Resolver, our webinar will help you prepare well in advance for the changes that lie ahead. Watch the replay, or download the presentation, to gain insights on:
- Preparing Early: Essential steps to prepare for the Digital Operational Resilience Act’s impact in January 2025 to meet tight implementation timelines.
- Adapting to New Requirements: Understanding how the Digital Operational Resilience Act will affect operations in the financial sector and how to ensure compliance from day one.
- Best Practices and Standards: Gain insights into the sound practices and global standards that will shape DORA’s implementation.
- Leveraging technology: Learn a frustration-free process with requirements mapping and automated controls to prepare for and attain DORA compliance.
Read more: Diving into the Digital Operational Resilience Act (DORA)
