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Your DORA Explorer

A Practical Guide to Digital Operational Resilience Regulation for Technology Leaders

Digital Operational Resilience regulations are coming. Get your guide.

UK and EU regulators are concerned that spiralling technological complexity in financial services industries poses a systemic risk to the financial system. If a major bank were to experience an outage like Facebook's in 2021, it could have wide-ranging consequences. 

To combat this risk, from March 2022, regulated firms will be required to comply with new FCA regulations in the UK. Following hot on its heels is the EU’s Digital Operational Resilience Act (DORA).

Firms will now have to ensure the resilience of their Important Business Services and the availability  of these services to end-users. This requires a more holistic, top-down approach to technology resilience and will require technology leaders to implement new resilience solutions. 

Download your guide now for practical guidance on how to meet new regulatory demands and build greater continuous resilience.

FCA and PRA regulations

By March 31st 2022, regulated firms must have:

  • identified their important business services
  • set impact tolerances for the maximum tolerable disruption
  • carried out mapping and testing to a level of sophistication necessary to do set impact tolerances
  • identified any vulnerabilities in their operational resilience. 

As soon as possible after this, and no later than 31 March 2025, firms should operate within these impact tolerances and be prepared to demonstrate their processes in writing to the regulator.

The countdown to compliance is on. Are you ready? A Resilience Readiness Assessment can help to identify areas for improvement and get you on track to comply.

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Getting ready for DORA

The EU's Digital Operational Resilience Act (DORA), due to be passed later in 2022, will require banks and financial institutions to comply with similar regulations to the FCA; but there are some key differences and some unknowns.

These raise are real, practical concerns for technology leaders such as:

  • how can I ensure 100% application resilience?
  • how can I map and manage my entire IT estate?
  • how can I quickly detect, respond and resolve availability issues?

Your DORA Explorer sets out the deadlines, requirements and the practical solutions you can implement to make sure you’re compliant in time.