There is an increased focus on digital operational resilience both from a sector specific perspective (e.g. the EU’s Digital Operational Resilience Act (DORA) applicable in the financial sector) and a general perspective (e.g. the implementation of the EU’s NIS2 Directive and the forthcoming EU Cyber Resilience Act).
Now is a good time to think about your digital operational resilience framework.
Digital operational resilience in the financial sector
In particular in the financial sector, we are expecting firms to be asked by their regulators to explain how their current operational resilience frameworks stand up. It is therefore important for businesses to take action now in line with their digital operational resilience frameworks.
This is what DORA, the new EU regulations coming into force in January 2025, aims to achieve by ensuring that all participants in the financial system have the necessary safeguards and response mechanisms in place to manage cyber threats and ICT-related disruptions effectively.
Please do not hesitate to reach out if you would like to discuss how we can assist you further.
