Digital Operational Resilience Act – How to get ready for DORA

Operational resilience is often seen as a background concern, and not given proper care and attention. However, the degree of operational resilience that an organization can achieve through the application of a robust technology design is incredibly high.

DORA’s principal aim is to ensure that the financial services sector is resilient against IT, Cyber and Digital threats. The regulation sets out standards for the sector designed to harmonise rules, ensure that the highest standards of IT governance and risk management are met, and encourage investment in the requisite systems.

This report provides an overview of the DORA legislation, its aims, and its application. It also details how insurance businesses can prepare for DORA’s implementation and what actions they can take now to ensure a smooth transition.

Key Takeaways:

• Gain an understanding of the DORA legislation, as well as the benefits of compliance and consequences for getting it wrong
• Learn what organisations need to do to comply before the legislation comes into force on 17 January 2025
• See an example action plan along with some suggestions for next steps