European financial entities must comply with regulation (EU) 2022/2554, before the 17th of January, when DORA comes into full effect.
However, even entities, like payment processors, investment firms, electronic money institutions e.g., Revolut, and ICT 3rd party service providers, which operate outside the EU, must carefully consider if they have/want to comply with EU DORA and to what level. For example, ICT providers, like TLPTs, especially if they are not headquartered in the EU, must be certified by an accreditation body in a Member State or adhere to formal codes of conduct or ethical frameworks (article 27.1.c).
With that being said, what is EU DORA?
Digital operational resilience’ means the ability of a financial entity to build, assure and review its operational integrity and reliability by ensuring, either directly or indirectly through the use of services provided by ICT third-party service providers, the full range of ICT-related capabilities needed to address the security of the network and information systems which a financial entity uses, and which support the continued provision of financial services and their quality, including throughout disruptions.
The first activity, a financial entity, falling under the scope of the regulation, would like to perform is a gap assessment. At velocitycheck we have created, a completely free, detailed, do it your self assessment tool based on Microsoft excel, to assist personnel, consultants and assessors to go through, at their own pace, the rigorous process of identifying any missing controls.
"DORA applicability and gap analysis framework ver0.2.xlsx", with size of 304,517 kb (kilobytes), and file hash using the hashing algorithm SHA-256 has the value : 67a0180c51b121cd004316c043f5d2d7aeea64481727c05f13df4ca5440c42fa.
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