Coliance on Digital Operations Resilience Act (DORA)

Coliance on Digital Operations Resilience Act (DORA)

Welcome to our web page dedicated to the Digital Operations Resilience Act (DORA). In today’s interconnected world, where technology plays a vital role in every aspect of our lives, safeguarding our digital infrastructure is paramount. DORA is a groundbreaking legislation designed to enhance the resilience of our digital operations and protect against cyber threats. With its comprehensive framework and forward-thinking approach, DORA aims to ensure the security, stability, and continuity of our digital ecosystem. Join us as we delve into the key provisions, benefits, and implications of this transformative act, paving the way for a safer and more resilient digital future. 

UPCOMING EVENT

Coliance Event | DORA Oversight Webinar

We are thrilled to extend a warm invitation to your esteemed organisation to join us at the upcoming Digital Operations Resilience Act (DORA) Oversight an unmissable opportunity to explore the latest trends in DORA and fortify your digital operations.

7 November 2023
9:30am to 12:30pm

Format

Webinar

What are the key areas that impact our customers?

How can digital resilience operations elevate your business?

Embracing digital resilience operations equips your business with state-of-the-art cybersecurity defenses. By investing in robust security measures and adhering to stringent standards, you fortify your digital infrastructure, creating a formidable shield against cyber threats.

A comprehensive incident response plan ensures that your business can respond swiftly and effectively to cybersecurity incidents. Timely identification and mitigation minimise potential damages, enabling a faster return to normal operations.

Digital resilience operations help you stay compliant with industry regulations and relevant cybersecurity standards. By reducing vulnerabilities and addressing risks proactively, you safeguard your company’s reputation and minimise legal and financial consequences.

Prioritising digital resilience safeguards your valuable data assets and sensitive information. This not only fosters trust among your customers and stakeholders but also protects your intellectual property and trade secrets.

In the face of cyber threats or disruptions, digital resilience operations enable your business to maintain uninterrupted continuity. The ability to swiftly recover and resume operations ensures minimal downtime and customer impact.

Demonstrating a commitment to digital resilience boosts your brand’s reputation and instills confidence among customers, partners, and investors. A strong cybersecurity posture showcases your dedication to protecting sensitive information.

Digital resilience operations include robust cybersecurity training for your employees. Cultivating a culture of cybersecurity awareness ensures that your workforce becomes a proactive defense against cyber threats.

Businesses with strong digital resilience enjoy a competitive edge. Customers and partners are more likely to trust organisations that prioritise cybersecurity, making your company a preferred choice in the market.

In the fast-paced digital age, digital resilience operations future-proof your business against emerging cyber threats. Proactive measures ensure you remain adaptable and agile in the face of evolving risks.

Knowing that your digital infrastructure is fortified with resilient operations provides peace of mind for both you and your stakeholders. Confidence in your cybersecurity posture empowers you to focus on innovation and growth.

How Coliance can help with
Products and Solutions

Plan, implement, and optimise your technology strategies and portfolios

Transform your business through unprecedented connectivity between applications, people, data, and devices

Innovate faster by modernising legacy systems and developing new applications

Increase agility and responsiveness through real-time supply chain visibility

Improve customer experiences across all channels by overcoming complexity

Leverage data and predictive analytics to gain competitive advantages

Plan, implement, and optimise your technology strategies and portfolios

Transform your business through unprecedented connectivity between applications, people, data, and devices

Innovate faster by modernising legacy systems and developing new applications

Increase agility and responsiveness through real-time supply chain visibility

Improve customer experiences across all channels by overcoming complexity

Leverage data and predictive analytics to gain competitive advantages

Frequently asked Questions

  1. Mandatory annual internal testing with a report of the results to be provided to the ESAs (European Super advisory Authority) following a specific format provided by the regulator. It is applicable to all actors of the financial sector.
  2. Is an advanced testing to perform three times a year. It is applicable to companies answering to specific criteria that the regulator will define in the coming months. This advanced testing, done by an external entity, will allow ESAs to issue a certificate stating the company’s compliance regarding penetration testing. Failing to obtain it could result in a potential halt of the company’s activities.

1. DORA applies to 22,000 EU financial entities and ICT providers

+ incl. infrastructure supporting them worldwide

2. DORA impacts ICT risk governance for financial entities substantially.

Industry has 2 years to prepare for DORA implementation by 17 January 2025.

3. DORA introduces holistic risk management framework to ensure consistent services, including ICT and cyber security.

4. DORA defines ICT providers as continuous digital and data service providers, including cloud computing and hardware services. DORA brings a paradigm shift to the ICT sector compared to the previous legal framework.

If you consider yourself one of these organisations then you are effected by DORA.

Credit Institutions   
Payment Institutions 
Account Information Service Providers   
Electronic Money Institutions   
Investment Firms
Crypto-asset Service Providers    
Central Securities Depositories    
Central Counterparties
Trading Venues 
Trade Repositories   
Managers of Alternative Investment Funds
Management Companies
Data Reporting Service Providers 
Insurance and Reinsurance Undertakings
Insurance Intermediaries 
Reinsurance Intermediaries
Institutions for Occupational
Retirement Provision 
Credit Rating Agencies
Administrators of Critical Benchmarks  
Crowdfunding Service Providers 
Securitisation Repositories ·    
ICT third-party service providers 

CEOs and Executive Committee responsible for defining strategy.

Prioritise Digital Resilience on roadmaps and agendas between all departments.

“Management body” oversight and accountability: NIS2 imposes direct obligations on “management bodies” concerning implementation and supervision of their organisation’s compliance with the legislation – leading potentially to fines and temporary ban from discharging managerial functions, including at the senior management C-Suite level. 

Penalty: 2% of global turnover as fine for orginisations

Individual fine upto €1 Million.

“Management body” oversight and accountability: NIS2 imposes direct obligations on “management bodies” concerning implementation and supervision of their organisation’s compliance with the legislation – leading potentially to fines and temporary ban from discharging managerial functions, including at the senior management C-Suite level. 

How to put ZERO Trust into action?

What is the change progress timeline suggested by Coliance?

Prepare (NOW)

Understand DORA

Identify elements most likely to affect the organisation
Communicate with internal stakeholders

Prepare (NOW)

Design (Q3 2023)

Develop project plan

– Identify gaps

– Define program approach and governance structure

– Identify dependencies between DORA and other initiatives

Design (Q3 2023)

Launch (Q4 2023)

Plan and Prioritise Activities

– Classify and prioritise actions for business functions, IT systems, and outsourcing

– Identify needed activities and resources

– Communicate with stakeholders

Launch (Q4 2023)

Full Readiness (Q4 2024)

Confirm and Close

– Check completion of all activities and transition to new operating model

– Activate new policies and procedures

– Communicate with stakeholders

Full Readiness (Q4 2024)

2025

DORA

– Entry of DORA into force 

2025

Contact us

A Coliance Event | DORA Oversight Webinar

We are thrilled to extend a warm invitation to your esteemed organisation to join us at the upcoming Digital Operations Resilience Act (DORA) Oversight an unmissable opportunity to explore the latest trends in DORA and fortify your digital operations.

Date

17 January 2024
11am till 1pm
Venue London

Format

Webinar