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.

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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?

Risk Management framework

Adopt (Information and Communication technology) ICT governance and control frameworks.

Assess the effectiveness of the risk management measures that have been undertaken.

Sterling Secure File Transfer

DIGITAL OPERATIONAL RESILIENCE TESTING

Perform assessments on a regular basis.

Provide to the authority summary of the relevant findings and the remediation plan.

Sterling Secure File Transfer

ICT THIRD PARTY RISK MANAGEMENT

Monitor third-party contractual arrangements at all stages.

Have a strategy on ICT Third Party risk.

IBM Partner Engagement Manager

INCIDENT REPORTING
Streamline ICT incident reporting through the logging and classification of ICT incidents.
Multitude of reporting requirements imposed on an entity.
INFORMATION AN INTELLIGENT SHARING
Provides a list of security measures that shall be implemented.
Regulations encourage collaboration among trusted communities of entities.

How can digital resilience operations elevate your business?

1. Enhanced Cybersecurity: State-of-the-art defenses against threats.

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.

2. Swift Incident Response: Quick identification and mitigation.

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.

3. Regulatory Compliance: Meeting industry standards.

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.

4. Data Protection: Safeguarding valuable assets.

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.

5. Uninterrupted Business: Minimising downtime.

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.

6. Preserved Reputation: Building trust with stakeholders.

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.

7. Employee Empowerment: Cybersecurity awareness.

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.

8. Competitive Edge: Preferred choice in the market.

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.

9. Future-Proofing: Adaptability to new risks.

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.

10. Confidence and Peace of Mind: Focus on growth.

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

So how do organisations prepare?

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.
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.

Who does DORA apply to?

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.

What type of organisations are mainly effected by DORA?

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

Who is responsible?

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.

What is the Penalty?

Penalty: 2% of global turnover as fine for orginisations

Individual fine upto €1 Million.

How to put ZERO Trust into action?

Protect your Investments
Save time, money and maximise your current investments by using the tools you have and adding only what you need.
Connect tools easily
Use and connect tools of choice to make your zero trust strategy a reality with ease.
Get help quickly
With experts within reach, you can put zero trust into action faster.
Ready-to-go integrations
Integrate your security tools and systems with an extensive partner ecosystem that can help you complete your overall zero trust strategy.

Coliance on Digital Operations Resilience Act (DORA)