Complex Regulatory Change - DORA Adherence - Davies

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Complex Regulatory Change - DORA Adherence

Time is running out and the deadline is fast approaching. Act now to ensure your organisation is fully compliant.

The Digital Operational Resilience Act (“DORA”) is an EU regulation, which entered into force on 16 January 2023 and requires adherence as of 17 January 2025.​

DORA is viewed as addressing previous gaps that existed in operational resilience efforts. Previous regulations focused more on capital adequacy, rather than risk-bound elements that could impact firms, clients, customers and the broader financial markets.​

In-scope institutions must now establish frameworks, policies and processes for the “protection, detection, containment, recovery and repair capabilities” against ICT-related incidents.​

DORA explicitly includes requirements associated with:

ICT risk management

ICT-related incident management, classification and reporting

Digital operational resilience testing

Managing of ICT third-party risk

Information sharing arrangements

How Davies can help

 

 

We help firms:
• Design and deliver methodologies, to ensure successful parameters for delivery, i.e. around the proportionality principle.
• Interpret the ‘As-Is’ DORA regulatory requirements. As the technical standards are finalised, we will help firms to react appropriately, where change is required.
• Perform gap analysis to understand where gaps exist in relation to the DORA, and to create a plan to close these gaps.
• Create and project-manage roadmaps to achieve compliance with the DORA.
• Create robust audit trails to evidence compliance with the DORA.

Davies differentiators

  • Our involvement in DORA-implementations enables us to opine on industry-wide best practices, bringing an advisory lens to change implementations.
  • Our teams are a powerful blend of subject-matter-experts and change specialists enabling us to rapidly deliver high-quality outputs for our clients.
  • Our network within the Operational Resilience space enables us to facilitate knowledge-sharing discussions across the industry.

Contact us to find out more

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