Delivering Digital Operational Resilience Act Compliance.
Elevate GRC to support cyber risk management in the ICT supply chain.
The Digital Operational Resilience Act (DORA) addresses systemic risk within the European Union’s financial sector to protect consumers, maintain financial stability and ensure the smooth functioning of digital services.
DORA focuses heavily on strengthening ICT risk management in financial services organisations and – crucially – within their ICT supply chain. As a result, the regulation’s reach will extend beyond directly in-scope companies to affect any company that provides ICT services.
Delivering DORA compliance demands a robust, integrated GRC approach. Diligent One delivers unified GRC to help companies meet today’s regulatory requirements and prepare for tomorrow’s.
Why DORA is not just a financial sector regulation?
To address systemic digital risk in the financial sector, DORA involves the suppliers who provide the digital infrastructure and services that the industry depends on.
DORA directly addresses Critical ICT third party providers, such as cloud hyperscalers and major communications providers. These will become subject to regulatory oversight.
In-scope companies must address risk in their ICT supply chain and may only contract with providers that comply with appropriate information security standards. That puts pressure on providers serving the financial sector to ensure they meet those requirements.
GRC factors in DORA compliance
DORA focuses on five key areas that each have implications for governance, risk and compliance management:
- ICT risk management and use of prescribed list of tools and approaches.
- ICT incident management and reporting requiring robust processes.
- Regular digital operational resilience testing.
- Third party ICT risk management requiring supply chain visibility and monitoring.
- Information sharing with EU authorities and designated organisations.
Our white paper looks at how organisations can approach these areas through a GRC lens to build an effective framework for implementation.
Diligent One delivers unified GRC for successful DORA implementation
DORA marks a step-change in cybersecurity risk management, reporting and information-sharing. Implementation requires a rigorous approach to GRC for all in-scope and adjacent organisations.
Diligent One helps companies build unified GRC programmes that deliver accurate insight and real-time reporting data.
Diligent One Platform delivers comprehensive GRC for your business
Gain clarity over every aspect of risk, audit, governance, compliance, and ESG. Diligent’s unified GRC platform delivers insight from advanced analytics, efficiency through complex workflow automation, and compliance through comprehensive visibility and assurance.
Elevate IT compliance while saving time & conserving resources
Build and maintain a brand your customers trust by demonstrating an informed commitment to IT compliance and information security.
Recommended Reading
Why is DORA needed?
The Digital Operational Resilience Act (DORA) is a EU regulation that entered into force on 16 January 2023 and will apply as of 17 January 2025.
The financial sector's growing reliance on technology and tech companies makes it vulnerable to cyber-attacks and incidents. Poorly managed ICT risks can disrupt cross-border financial services, affecting other sectors and the broader economy. This highlights the critical need for digital operational resilience, which is where the Digital Operational Resilience Act (DORA) comes into play.
What is IT Compliance and IT Risk Management, and how can you streamline your organisation’s approach?
IT Compliance and IT Risk Management (ITRM) both ensure the security, reliability, and integrity of an organization’s IT systems.
IT Compliance ensures that IT systems and practices meet relevant laws, regulations, standards, and policies. IT Risk Management (ITRM) involves identifying, assessing, mitigating, and monitoring risks that could affect IT infrastructure and operations.
IT Risk Management and IT Compliance buyer's guide
In today’s rapidly evolving risk management landscape, just one incident can compromise data, damage software and disrupt business.
In this buyer’s guide, we explore what a market-leading ITRM program should look like, and highlight the key areas buyers should consider, including:
✔ Functionality
✔ Security
✔ Compliance
✔ Cost
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