As the clock struck midnight on January 17, 2025, the Digital Operational Resilience Act (DORA) officially came into effect. For many financial institutions, the DORA deadline marked a significant compliance milestone. However, at DigitalBank (a fictional bank used for illustration purposes), we saw DORA as an opportunity to go beyond mere compliance, embedding resilience deeply into our operations and using DORA as a foundation for strategic growth.
As the Chief Risk Officer, my goal was to operationalize DORA in a way that integrated it with our existing Governance, RiskAs the clock struck midnight on January 17, 2025, the Digital Operational Resilience Act (DORA) officially came into effect. For many financial institutions, the DORA deadline marked a significant compliance milestone. However, at DigitalBank (a fictional bank used for illustration purposes), we saw DORA as an opportunity to go beyond mere compliance, embedding resilience deeply into our operations and using DORA as a foundation for strategic growth.
As the Chief Risk Officer, my goal was to operationalize DORA in a way that integrated it with our existing Governance, Risk, and Compliance (GRC) processes. We wanted DORA not just to meet regulatory standards but to become a critical part of our business strategy, enhancing efficiency, trust, and competitive advantage. With the power of GIEOM’s DORA 360 platform, we transformed DORA from a regulatory checklist into a cornerstone of our organization’s resilience.
The Challenge: Embedding DORA Without Additional Bureaucracy
DORA comes with rigorous demands, especially in the areas of ICT resilience, incident management, and third-party oversight. However, adding more governance layers or redundant processes would only slow us down and make compliance a burden. Our objective was to weave DORA’s principles into our existing frameworks, minimizing disruption while strengthening our resilience. Here’s how we operationalized DORA across DigitalBank with the help of DORA 360.
1. Automated Risk Assessments and Incident Management
DORA requires firms to conduct comprehensive risk assessments focused on digital and ICT resilience. Rather than creating a new assessment process, we integrated these DORA-specific requirements into our existing operational risk assessments with DORA 360. This tool automated DORA compliance checks within our routine assessments, allowing us to capture ICT risks and resilience metrics in real time.
With DORA 360’s automated workflows, incident management was also streamlined. DORA places a high priority on incident classification and reporting for ICT-related incidents. Instead of developing a new framework, we incorporated DORA’s incident requirements into our existing incident management process. Incidents could be flagged, classified, and escalated automatically, with DORA 360 triggering relevant alerts to ensure immediate response. This integration minimized manual tasks, allowing our teams to focus on analyzing risks rather than managing workflows.
2. Integrated KRI/KPI Monitoring with Real-Time Data
Key risk indicators (KRIs) and performance indicators (KPIs) play a vital role in tracking DORA compliance, especially around system uptime, cyber threat levels, and third-party resilience. DORA 360 allowed us to integrate these resilience-focused KRIs and KPIs into our existing risk monitoring dashboards.
Now, our Board can view real-time resilience metrics in the same dashboards they use to track other risk and performance indicators. This integrated monitoring system allows us to make faster, more informed decisions and ensures that DORA compliance is seamlessly aligned with our broader risk management strategy. Automating KRI and KPI tracking also helped us eliminate redundant reporting, ensuring accuracy and efficiency.
3. Enhanced Third-Party Management and Oversight
One of DORA’s focal points is third-party resilience, especially with vendors critical to ICT infrastructure. DORA 360 was instrumental in strengthening our third-party risk management by automating vendor assessments and due diligence processes. Through DORA 360, we integrated DORA-specific resilience checks directly into our existing vendor review process, allowing us to monitor vendor risks in real time.
DORA 360 also provides proactive alerts if a vendor’s resilience profile changes, helping us manage risks before they impact our operations. By embedding DORA compliance into our standard third-party oversight process, we ensured that critical vendors met resilience standards without the need for additional manual checks or oversight.
4. Embedding Resilience Testing into Business Continuity Planning (BCP)
DORA mandates rigorous resilience testing, but we wanted to avoid creating a separate testing framework solely for DORA. Instead, we used DORA 360 to incorporate DORA-specific ICT resilience scenarios into our regular business continuity planning (BCP) exercises.
Using DORA 360, we scheduled, documented, and reviewed these resilience scenarios as part of our continuity testing cycle. Teams were trained to handle potential disruptions, building their familiarity with DORA compliance while enhancing overall preparedness. This approach ensured our continuity planning addressed both DORA requirements and our broader resilience goals, making resilience an integral part of our DNA rather than a one-time compliance activity.
5. Governance Without Extra Layers
At DigitalBank, our goal was to achieve DORA compliance without adding redundant layers of governance. We designated DORA oversight to our existing Risk and Compliance Committee, adding it as a standing agenda item. This approach allowed us to leverage our current governance structure while ensuring that DORA compliance received the necessary attention at the executive level. DORA 360’s dashboards made it easy to report on compliance and resilience metrics to the Board and senior management, facilitating visibility and oversight without requiring new committees or reporting structures.
6. Training and Awareness through Automated Compliance Tracking
DORA is only as effective as the people who uphold its principles, which means training and awareness are critical. Through DORA 360, we were able to assign DORA-specific training modules to key employees and track completion automatically.
By integrating DORA content into our standard risk, compliance, and IT security training programs, we ensured that all employees understood the importance of digital resilience. Teams in high-impact areas like ICT and operations received additional role-based guidance, helping them align with DORA requirements in their daily responsibilities. Automation here helped us maintain compliance without increasing the administrative burden on our training teams.
What “Good” Looks Like: A DORA-Compliant DigitalBank
In a DORA-compliant DigitalBank, “good” means that resilience is embedded within our culture and processes. With DORA 360, our DORA compliance isn’t a one-time checklist—it’s an integral part of how we operate. For us, a compliant, resilient DigitalBank looks like this:
- Proactive Risk Management: We don’t just react to risks; we anticipate ICT disruptions and adapt in real time, guided by automated insights.
- Integrated Resilience Testing: New products, systems, and third-party relationships go through resilience testing as part of their onboarding, ensuring DORA standards are met from the start.
- Cultural Resilience: Employees see resilience as part of our commitment to customers, not just a regulatory requirement. DORA compliance has become part of our culture, and employees understand how their actions contribute to DigitalBank’s security and stability.
Sustaining Compliance with DORA 360
Sustaining DORA compliance requires continuous monitoring and adaptation. DORA 360’s automated features enable us to maintain resilience and stay compliant in a cost-effective way:
- Automated Self-Assessments and Audits: DORA 360’s audit scheduling and self-assessment tools ensure we can conduct DORA checks without manual follow-ups, keeping our audit process lean and effective.
- Real-Time Compliance Monitoring: Key DORA-aligned KRIs and KPIs are embedded within DORA 360 dashboards, providing instant visibility across the organization and enabling quick responses to potential threats.
- Ongoing Training and Compliance Engagement: DORA principles are woven into our annual training updates and assigned role-specific modules, ensuring that all employees remain aware of their roles in resilience as our business evolves.
DORA as a Strategic Enabler for DigitalBank
DORA compliance, powered by DORA 360, has become much more than a regulatory mandate—it’s a strategic asset that drives growth and builds customer trust. Here’s how we’re using DORA to fuel our strategic advantage:
- Building Customer Trust and Loyalty: Automated resilience monitoring and transparent reporting demonstrate our commitment to digital security, helping us build and retain customer loyalty.
- Operational Efficiency Gains: By automating incident response, vendor oversight, and compliance tracking, DORA 360 has allowed us to save on compliance costs, freeing resources for strategic projects and customer-focused innovation.
- Competitive Advantage in the Market: DORA compliance has positioned DigitalBank as a secure and resilient choice, appealing to clients who prioritize digital security. We’ve turned regulatory compliance into a selling point, differentiating DigitalBank in a competitive landscape.
Final Reflections and a Call to Action
DORA and DORA 360 have transformed DigitalBank into a future-ready institution, resilient in the face of digital threats and prepared for growth. Compliance isn’t just about checking boxes; it’s a powerful way to protect our business, build customer trust, and strengthen our market position.
With DORA 360, we’ve shown that automation and strategic thinking can turn regulatory requirements into a foundation for resilience and growth. Are you ready to make compliance a competitive advantage? Embracing resilience with tools like DORA 360 could be the key to driving efficiency, building trust, and securing your future. How can DORA and automation help your organization not only comply but thrive?
Simplified Compliance for DORA Regulation – DORA360
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