Course Overview
Our university-endorsed online course offers an in-depth exploration of DORA, providing participants with a comprehensive understanding of its objectives, requirements, and implications for the financial sector. Designed for professionals seeking to enhance their knowledge and ensure compliance, this course covers:
- ICT Risk Management: Learn about the frameworks and strategies to identify, assess, and mitigate ICT-related risks.
- Incident Reporting: Understand the protocols for reporting ICT-related incidents, ensuring timely communication with relevant authorities.
- Digital Operational Resilience Testing: Gain insights into the testing requirements to assess and enhance your organisation’s digital resilience.
- Third-Party Risk Management: Explore the guidelines for managing risks associated with third-party ICT service providers.
- Information Sharing: Discover the importance of sharing information related to cyber threats and vulnerabilities within the financial sector.
Who Should Enrol?
This course is ideal for:
- Compliance officers and risk managers in financial institutions.
- IT and cybersecurity professionals responsible for operational resilience.
- Legal and regulatory affairs personnel.
- Consultants and advisors in the financial services sector.
Course Features
- Flexible Online Learning: Access the course materials anytime, anywhere, allowing you to learn at your own pace.
- University-Endorsed Certification: Receive a prestigious certificate upon successful completion, demonstrating your expertise in DORA compliance.
- Interactive Content: Engage with case studies, simulations, and discussions to apply your knowledge in practical scenarios.
- Expert Instructors: Learn from industry professionals with extensive experience in financial regulations and operational resilience.
Course Duration
You can complete the course in approximately 45 to 60 minutes, depending on your pace and prior knowledge.
Certification
Upon successful completion of the final quiz, you will receive a CPD-accredited certificate, available for immediate download.
Corporate Packages
We offer tailored corporate packages to meet the specific needs of your organisation. Equip your team with the knowledge and skills required to navigate the complexities of DORA and ensure compliance.
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Deepen your understanding of the Digital Operational Resilience Act and its significance in shaping the future of digital operational resilience in the financial sector.
Study Academy – Training your team and remaining compliant has never been easier.
What Is the Digital Operational Resilience Act (DORA)?
You can watch our video here that covers what DORA is.
The Digital Operational Resilience Act (DORA) is an important rule from the European Union (EU). It aims to tackle the increasing dependence of financial services on digital technologies. As cyber threats and IT disruptions become more frequent and complex, DORA aims to ensure that financial institutions can continue to operate effectively, even in the face of digital challenges.
DORA was formally adopted as part of the EU Digital Finance Package and came into force in January 2023. It applies to a wide range of financial entities, including:
- Banks
- Credit institutions
- Investment firms
- Insurance and reinsurance companies
- Payment institutions
- Crypto-asset service providers
- ICT third-party service providers
DORA sets clear and enforceable rules across the EU. This creates a fair environment and highlights the need for ICT risk management. It is a key part of being operationally resilient.
Why DORA Matters
In the digital age, financial stability relies on good money management. It also depends on protecting data, digital systems, and technology. This affects not only the business but also the entire financial system.
DORA seeks to mitigate these risks through five key pillars:
- ICT Risk Management
- Financial entities must implement risk management frameworks that account for all ICT risks. This includes identifying vulnerabilities, securing systems, and developing action plans for ICT incidents.
- Incident Reporting
- Timely and standardised reporting of ICT-related incidents is mandatory. Organisations must be able to identify incidents quickly, assess their impact, and report them to the relevant authorities.
- Digital Operational Resilience Testing
- Firms are required to regularly test their digital systems to ensure they can withstand real-world threats. This includes advanced testing like Threat-Led Penetration Testing (TLPT) for critical institutions.
- Third-Party Risk Management
- Many financial organisations rely on external ICT providers. DORA requires clear governance and contractual arrangements to manage these relationships and ensure they don’t become a weak point.
- Information Sharing
- DORA encourages secure sharing of cyber threat intelligence and best practices between institutions. This helps the entire sector become more aware and prepared for emerging threats.
Who Needs to Comply With DORA?
If your organization works in EU financial services, DORA probably applies to you. This includes third-party technology providers that work with financial firms.
This regulation doesn’t just affect large multinationals. It helps banks, insurers, investment firms, and other financial organisations prepare for and respond to ICT disruptions. These disruptions can include cyberattacks or system failures. It also affects smaller firms, fintech companies, and any business that offers important digital services to financial entities.
Non-compliance with DORA can lead to serious consequences, including regulatory penalties, reputational damage, and loss of business. By understanding and implementing the provisions of DORA, organisations can strengthen their operational resilience and build trust with regulators and customers alike.
The Value of DORA Compliance
Complying with DORA is not just about ticking a box. It’s about embedding resilience into the culture and operations of your organisation. This regulation offers an opportunity to review and improve existing ICT systems, incident response capabilities, and risk governance structures.
In a financial landscape increasingly shaped by digital transformation, operational resilience is a key differentiator. Companies that align early with DORA will be better prepared for disruptions. They will gain a competitive edge and show a proactive approach to compliance and cybersecurity.
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