Digital Operational Resilience (DORA) introduces key obligations and broad ICT Risk Management Framework - how to cope with your obligations?

DORA has created a regulatory framework whereby the financial firms will have to make sure they can withstand, respond to and recover from all types of ICT-related disruptions and threats, with the objective to prevent and mitigate cyber threats.
 
There are a wide range of entities that are affected by DORA. It covers banks, payment institutions, investment firms, crypto assets service providers and more. Additionally, critical third-party ICT providers are also regulated under the regulation.
 
Some of the requirements will not pose major changes to current frameworks and arrangements whereas others will require a lot of time, coordination, and effort from very different professionals within organisations.
 
Given the broad scope of DORA, it addresses many topics that already apply to Financial Services firms operating in the EU, the United Kingdom and Gibraltar, while for example being more prescriptive around ICT and cyber resilience than current UK operational resilience regulation. 
 
Even for those entities that are familiar with financial markets resilience regulation, certain capabilities such as more detailed operational resilience testing around ICT (particularly threat-led penetration testing) and threat intelligence sharing require attention, while other areas (such as third party risk management) need to be carefully aligned with existing and emerging UK and Gibraltar regulatory requirements.
 
GACO is happy to inform you that we have partnered up with Formalize and with Herbert Smith Freehills to deliver a practical webinar on DORA requirements and how to navigate through the complexity of the same as well as providing practical examples on how you can become compliant with the requirements. 

Event type: Online Webinar 
Date: 20th November 2024
Time: 9.30hrs - 11.00hrs
 
The following Senior Partners will deliver the Webinar: 

Jaime Bofill – Partner, Herbert Smith Freehills

Jaime is a partner in the litigation and arbitration practice in the Madrid office, specialised in insurance, reinsurance, financial institutions, retail banking, payment services and the emerging areas of Fintech and Insurtech. He regularly advises on corporate transactions and insurance and reinsurance distribution, including M&A, the creation of joint ventures and business restructuring in the insurance sector, as well as advice on insurance and reinsurance policy cover. He has designed, coordinated and had a hand in numerous cross-border mergers between European insurers and is a renowned expert in portfolio transfers (at domestic and international level) and the sale and purchase of insurance companies.

Jaime also specialises in regulatory law and relationships with the Spanish authorities, having been involved in countless complex cases before the Directorate-General for Insurance and Pension Funds. He has acquired vast experience in the payment services sector where he has worked for domestic and international enterprises on aspects relating to the Payment Services Directives and their implementation in Spain, not to mention his work on money laundering and its corresponding obligations. He has also previously worked for payment services companies on international matters.

Jaime Blanco - Country Manager Spain, Formalize

Jaime has 10 years of experience in the implementation of software for companies. Since the establishment of Formalize in Spain, he has been directly involved in the implementation of compliance operations systems in organizations in both the public and private sectors.

Miguel Carbonell - Account Executive Formalize

Miguel has extensive experience optimizing and assisting with the compliance of private and public entities, working with the most prominent national and international law and consulting firms.

Formalize helps companies to effortlessly navigate and stay ahead in the ever-changing landscape of compliance. Our platform adapts to regulatory changes, continuously adapting to meet, and foresee, the evolving needs of our users - ensuring businesses remain compliant and confident in their operations.
https://formalize.com/en/about-us