In late 2022, The EU Parliament published new laws regarding capital allocation and risk management of Information Communication Technologies (ICT). The laws start applying in January 2025, leaving teams the necessary time to get prepared.
The goal of these regulations is to address the previous lack of uniform regulation on ICT, given the growing reliance on said technologies. While regulations of this nature are certainly headache-inducing news for compliance and incident management teams, given the increased risks of fines or penalties, they should be viewed as an opportunity to optimize your internal operations to save time and money.
Here's how SLOs provided by Nobl9 Reliability Center can help:
Proactive Risk Management: SLOs enable teams to proactively identify and manage incidents, aligning with DORA's focus on operational resilience and risk mitigation.
Real-time Monitoring: By setting SLOs for critical services, teams can continuously monitor their performance, ensuring compliance with DORA's requirements for incident reporting and operational testing.
Efficient Incident Response: SLOs help teams detect and respond to incidents before impacting customers, enhancing compliance with DORA's incident reporting rules.
Third-Party Risk Mitigation: SLOs can be applied to third-party services, aiding in managing ICT third-party risk as mandated by DORA.
Streamlined Reporting: SLOs facilitate consistent and streamlined performance reporting, aligning with DORA's reporting requirements.
Long-Term Sustainability: SLOs are the backbone of a sustainable approach to digital risk management, ensuring long-term compliance, even if the laws do change.
Navigating DORA Compliance Webinar
On July 16th, 2024, we hosted a webinar with our partners at Deloitte and AWS for an informative session on how the new DORA regulations will change reliability management for financial institutions
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