Achieve DORA Compliance with GO Business

The Digital Operational Resilience Act (DORA) is a landmark regulation aimed at bolstering the digital operational resilience of financial institutions across the European Union. As the financial services industry remains a prime target for cyber threats, DORA introduces a robust framework to ensure institutions can effectively manage ICT risks and protect their operations from digital disruptions.

Why DORA is Critical for Financial Institutions
DORA sets comprehensive guidelines that financial institutions must follow to manage and mitigate ICT risks. These include:

• ICT Risk Management: Financial institutions must develop and implement security frameworks to ensure the ongoing protection of their digital infrastructure.
• Incident Reporting: Entities are required to have processes in place for timely reporting of significant ICT-related incidents to regulatory authorities.
• Third-Party Risk Management: Institutions must ensure that critical ICT providers, such as cloud services and software vendors, comply with DORA regulations.
• Resilience Testing: Regular testing of ICT systems to verify their resilience against cyber threats is mandated.
• Information Sharing: Institutions are encouraged to share threat intelligence with peers to strengthen collective defence mechanisms.

DORA is not only applicable to major banks and investment firms but also extends to smaller institutions such as payment processors, investment firms, and providers of crypto asset services. Furthermore, third-party ICT providers that offer services to financial institutions are also subject to DORA, making compliance efforts industry-wide.

Steps to Achieve DORA Compliance
Achieving DORA compliance requires a systematic approach to identifying vulnerabilities, strengthening resilience, and implementing continuous monitoring. At GO Business, we partner with CyberSift, a leading cybersecurity provider, to help financial institutions navigate this complex regulatory landscape.

1. Maturity Assessment
   A thorough evaluation of your organization’s current cybersecurity and resilience framework is essential to understanding where your institution stands in relation to DORA requirements. This assessment identifies both strengths and vulnerabilities, laying the groundwork for a targeted compliance strategy.
2. Gap Analysis and Mitigation
   Once the maturity assessment is complete, a gap analysis pinpoints specific areas where the organization falls short of DORA compliance. A detailed mitigation plan is then developed to address these gaps, incorporating enhanced cybersecurity measures, stronger operational resilience frameworks, and a focus on continuous regulatory alignment.
3. Continuous Monitoring and Penetration Testing
   To meet DORA’s requirements, institutions must continuously monitor their digital infrastructure, identify threats in real-time, and conduct large-scale penetration testing. Tools like CyberSift’s DORA Tracker simplify the process by providing real-time insights and helping track compliance progress, ensuring that institutions remain aligned with regulatory mandates.
4. Centralized Log Management and Threat Detection
   Centralized log management, coupled with advanced security analytics, is crucial to meeting DORA’s rigorous compliance standards. CyberSift SIEM (Security Information and Event Management) offers continuous monitoring and real-time threat detection, enabling financial institutions to respond swiftly to potential security incidents while ensuring operational resilience.

How GO Business Can Help
As DORA compliance becomes an urgent priority for financial institutions, GO Business offers a suite of cybersecurity solutions designed to help businesses meet these requirements and safeguard their digital operations.

1. Cybersecurity Assessment Survey
   The first step toward securing your business is understanding where you stand. Our Cybersecurity Assessment Survey evaluates your organization’s current security posture and provides actionable recommendations. The survey covers key areas such as asset management, data protection, incident response, and access control. Based on your responses, our team of experts will provide tailored solutions to meet regulatory requirements, including DORA compliance.
2. Cybersecurity Solutions for Business
   GO Business offers a comprehensive range of solutions that can be customized to suit your specific needs. These include:
   
3. Consultation and Continuous Support
   Our cybersecurity experts, in partnership with CyberSift, are ready to guide you through the process of achieving DORA compliance. From conducting maturity assessments to continuous monitoring and improvement, we provide the support and tools necessary to protect your institution’s digital infrastructure.

• • Advanced threat detection and monitoring systems, designed to identify potential breaches in real-time.
  • Penetration testing to assess your resilience against cyber-attacks.
  • Centralized log management and security analytics to meet DORA’s strict reporting and monitoring standards.
  • User access control solutions, ensuring secure management of internal and external digital resources.
  • Incident response planning, including business continuity strategies and disaster recovery solutions.

As DORA’s regulatory deadlines approach, financial institutions must take proactive steps to secure their digital operations and meet the new compliance standards. GO Business, in collaboration with CyberSift, offers financial entities the advanced tools, expert guidance, and strategic frameworks necessary to achieve DORA compliance and strengthen their cybersecurity posture.

Take the first step by completing our Cybersecurity Assessment Survey, and let GO Business help you navigate the evolving regulatory landscape with confidence.