DORA and Beyond: Navigating Europe’s Cyber Resilience Landscape

Article

The EU’s Digital Operational Resilience Act (DORA) marks a turning point in financial regulation by elevating cybersecurity to a priority on par with financial stability. Originating in response to the 2008 financial crisis, DORA aims to safeguard financial systems against the growing threat of ICT-related disruptions. This interview delves into DORA’s scope, its relationship with other mandates like Open Banking, and the role of Governance, Risk, and Compliance (GRC) technology.

Oct 17, 2024

Chika Okoli, GRC Consultant, Consultant

DORA and Beyond: Navigating Europe’s Cyber Resilience Landscape

The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization

DORA is a response to the 2008 financial crisis and treats cybersecurity as a systemic risk akin to financial stability threats.
DORA and Open Banking intersect in their treatment of third-party providers, balancing openness with strict risk management protocols.
Achieving DORA compliance requires robust ICT risk management, business continuity planning, and comprehensive third-party monitoring.
GRC technology facilitates DORA adherence by unifying risk data, automating processes, and minimizing redundant risk assessments.