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Operational Resilience
Need to comply with Operational Resilience Regulations, or simply looking to improve your business resilience efforts?
The Digital Operational Resilience Act (DORA), established by the European Union, seeks to guarantee that financial entities can endure, react to, and recover from disruptions Information and Communication Technology (ICT) and cyberattacks. Additionally, UK-focused businesses must comply with Operational Resilience requirements. , Operational Resilience extends beyond financial services; both regulated and non-regulated businesses must also ensure they deliver resilient services.
The Five Pillars
Risk
Management
Organisations must:
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Conduct regular and thorough risk assessments to identify potential threats and vulnerabilities within their information and communication technology (ICT) systems.
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Create comprehensive incident response plans to effectively handle and recover from ICT-related incidents
Incident
Management
Organisations must:
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Establish a clear incident classification to categorise incidents based on their severity and potential impact
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Conduct regular reviews of incidents to identify and implement lessons learned
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Report major ICT incidents to the relevant authorities
Digital Operational Resilience
Organisations must:
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Regularly test ICT systems and processes to assess their resilience and identify potential weaknesses
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Simulate different types of disruptions to evaluate the effectiveness of response and recovery plans
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Conduct reviews of test results to identify and implement improvements
Third-Party Risk Management
Organisations must:
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Evaluate the risks associated with ICT service providers, ensuring appropriate security standards are met
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Conduct thorough due diligence on third-party providers, including assessing their security practices
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Continuously monitor third-party providers, taking required corrective actions
Information
Sharing
Organisations should:
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Share relevant information with competent authorities
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Contribute to the development of threat intelligence by sharing information about observed threats and vulnerabilities
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Participate in information sharing initiatives with other financial institutions and industry stakeholders
How we can help!
01.
Readiness Assessment
02.
Compliance Roadmaps
03.
Risk Assessments & Management
04.
Incident Planning & Exercises
05.
Third-Party Risk Management
We assess your compliance against the requirements of the Digital Operational Resilience Act, Uk Operational Resilience and best practice, identifying gaps and providing contextualised, actionable recommendations. This approach ensures you have the foundations to meet your regulatory requirements and ultimately protect information and further develop your operational resilience.
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