DORA- Digital Operational Resilience Act
Prepare Your Organisation for DORA Compliance- The Digital Operational Resilience Act (DORA) is a critical EU regulation coming into force on 17 January 2025, designed to strengthen the resilience of financial institutions. Its aim is to ensure organisations can withstand, respond to, and recover from operational disruptions, safeguarding both the institution and the broader financial system.
Key Requirements of DORA
DORA goes beyond cyber security, requiring financial institutions to:
- Identify and manage ICT risks across internal systems and third- party providers.
- Maintain an up-to-date Register of Information, detailing all critical ICT assets and dependencies.
- Implement and test incident response plans to ensure operational continuity.
- Oversee and manage risks from third-party ICT service providers, such as cloud services and software vendors.
Failing to meet these requirements can result in severe penalties, including fines up to 10% of annual turnover or restrictions on senior executives.
At PRG Consulting, working alongside our sister company Finitas and in partnership W A Chump & Sons, we provide practical, outcome-focused support to help financial institutions meet DORA’s requirements efficiently and effectively. Our services include-
Reviewing your ICT ecosystem to identify gaps and risks.
Implementing robust frameworks to identify and address vulnerabilities.
Helping you manage risks from external ICT providers.
Aligning your processes with DORA standards.
Act Now to Stay Ahead
Preparing for DORA compliance takes time. Starting early not only avoids last-minute challenges but also strengthens your organisation’s resilience and protects your reputation.
Get in touch to discuss your next steps. We’re here to help you navigate DORA’s requirements and achieve compliance with confidence.
