Over the past few months, we've immersed ourselves in the complexities of the DORA register (Digital Operational Resilience Act).
01
What is the DORA register?
For those less familiar with the term: the DORA register is an essential component of European legislation aimed at strengthening the digital operational resilience of the financial sector. The DORA register contains information about the use of ICT services provided by external parties. It serves three purposes:
- Supporting financial institutions in their internal ICT risk management
- Enabling effective supervision by competent authorities
- Supporting the designation process of critical ICT service providers under the DORA oversight framework
All EU-regulated financial institutions, large and small, are required to establish, maintain, and report the mandatory information in this register.
02
The challenge and the solution
During this process, we've observed that many organizations struggle with practical challenges in setting up and managing this register, especially when using Excel for this purpose. This observation motivated us to create a solution.
We've developed an advanced technical tool that simplifies the creation and management of the DORA register. To arrive at this solution, it was necessary to dive deep into the subject matter. We've carefully studied the technical requirements set by the regulator and translated them into a user-friendly approach that aligns with the practical needs of organizations.
03
Our objective
In this series of blog posts, we're excited to share our acquired knowledge and insights. Our goal is to alleviate the challenges that come with setting up and managing the DORA register for everyone. We hope that our experiences and the information we share can make a valuable contribution to getting the DORA register up and running effectively.
04
A collaborative effort
We absolutely don't have the illusion that we have all the answers. The technical standards form a complex set of implementation regulations that, in our opinion, don't always excel in clarity and consistency. This means there's also room for interpretation.
We're very curious about the experiences of others who are knee-deep in DORA implementation on a daily basis. We invite you to share your practical experiences as well. We're convinced that this is a task that shouldn't be tackled a
Originally published on DORA Solutions Insights.