The “Digital Operational Resilience Act” (DORA) of the European Union is a law aimed at strengthening the digital operational resilience of financial institutions and market participants. DORA requires financial service providers to take appropriate measures to protect their critical digital services from failures, prepare for cyberattacks and other disruptions, and equip themselves accordingly.
Our consulting related to DORA encompasses various key aspects. We assist financial institutions and market participants in understanding the complex requirements of DORA and implementing effective compliance measures. Additionally, we support the identification of risks, develop and implement security strategies, plan responses to disruptions and security incidents, design training programs, and help in selecting and implementing appropriate technological solutions.
Prepare for DORA and enhance your company’s digital resilience. Contact us to find out how aPrio1 AG can assist you.
DORA defines uniform European standards as the foundation for data security, processes, and underlying infrastructure.
DORA core topic “Processes & Governance”
Compliance consulting
Financial institutions and market participants must ensure that they meet the requirements of DORA. This requires a comprehensive review and adaptation of their operational processes and security measures. aPrio1 can help you understand these compliance requirements and take appropriate action.
Risk assessment
An important component of DORA is the identification and assessment of risks to operational resilience. aPrio1 can support you in conducting risk assessments to identify vulnerabilities and potential threats.
Security measures
DORA requires financial institutions to implement appropriate security measures. aPrio1 helps you to develop and implement security strategies and measures
Incident Response Planning
The ability to respond appropriately to disruptions and security incidents is an important part of DORA. aPrio1 can support you in developing incident response plans and processes.
Training and sensitization
Employees in financial institutions need to be made aware of and trained in the requirements of DORA. aPrio1 can assist you in developing training programs to ensure that staff understand and implement best practices for operational resilience.
Technology assessment
DORA may entail the need to update or improve digital infrastructure and technologies in financial institutions. aPrio1 supports you in the selection and implementation of suitable technology solutions.
DORA core topic “Infrastructure & Technology”
Information Security Policy
The information security policy is a set of guidelines, regulations, rules and practices that dictate how an organization manages, protects and distributes information.
Network und System Management Policy
The aim of the Network and System Management Policy is to create binding guidelines for the maintenance, expansion and use of the infrastructure and the systems it contains.
Campus LAN und Wireless LAN Design Guide
Architectural specifications in the form of a Campus LAN and Wireless LAN Design Guide guarantee a company-wide homogeneous, scalable and secure infrastructure.
Global Infrastructure Security Concept
A company-wide Global Infrastructure Security Concept is the indispensable basis in networked corporate structures with data access from a wide variety of structures (on-premise, cloud, etc.) and heterogeneous requirements and users (customers, partners, internal employees, B2B, B2C, etc.).
Even with outsourced services, the company is not exempt from the responsibility of drawing up valid and binding regulations.
Cryptographic Concept
Data encryption in accordance with the Cryptographic Concept fulfills the authenticity, integrity and confidentiality obligation, although this is not explicitly mentioned in the regulation. Furthermore, the essential advantages of a VPN solution are emphasized in order to protect data, especially data “in use”. It is also explicitly pointed out that the same measures must be taken to protect the data of “third-party ICT providers” (provider management). Contracts with providers and third-party providers must guarantee that “availability, authenticity, integrity and confidentiality with regard to the protection of data, including personal data” are ensured at all times.
System Hardening
According to the description of the National Institute of Standards and Technology (NIST), system hardening can be defined as a process that aims to eliminate attack possibilities by eliminating (patching) vulnerabilities and deactivating unused services. Five subject areas must be taken into account:
- Server hardening
- Software hardening
- Operating system hardening
- Database Hardening
- Network Hardening
Application Security
The implementation of features such as authentication, authorization, encryption, logging and application security tests is part of ensuring application security, i.e. security within the applications used. The policy to be drawn up describes which criteria must be fulfilled by the applications used. Developers can also reduce dedicated security gaps in existing applications through secure programming using appropriate concepts.
Recommendations for implementing application security:
- Assume unknown and insecure infrastructure
- Optimize each application component with regard to the required security
- Automate the installation and configuration of security components
- Test the installed security measures
- Migrate non-strategic applications to Software as a Service (SaaS) apps
- Use cloud-based security products
- Focus on continuous security monitoring
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