Digital Operational Resilience Act
Understanding the regulatory framework and ensuring compliance
The digital transformation taking place in our society is accompanied by the growing complexity of technological infrastructures. Financial institutions are no exception to this process. Against this backdrop, the European Union has adopted new legislation to strengthen the operational resilience of financial institutions: the Digital Operational Resilience Act (DORA).
DORA harmonizes the EU's regulatory landscape regarding digital operational resilience, including the rules relating to ICT risks, ICT third-party service providers.
The stakes and new obligations are high. Banks, insurers, investment firms, fund managers, stock exchanges and all other financial institutions operating in the European Union must take significant measures by 17 January 2025 (date of application of DORA).
This morning session will be led by Thomas Faelli, Partner at Ethikos (law firm), member of the certification panel for compliance officers in Belgium at Febelfin and specialised in Regulatory and Compliance.
To help you find your way through the requirements imposed by DORA, Thomas Faelli will present a very concrete and pragmatic “road to compliance”.
The objective of the training is:
- to leave with a detailed overview of DORA;
- to understand the impacts of DORA on your company;
- to leave with a very concrete road to compliance to be ready for 17 January 2025.
Accrditations:
- Training provider accredited by the FSMA - accreditation number: 500036 A - 1 point per hour
- Abilways Belgium (IFE Benelux) is a training institution accredited by the FSMA for the ongoing training of compliance officers.
- Master all the legal and compliance aspects arising from DORA
- Examine the impact on your practice
- Identify your options for action
- Assess what you need to manage in your relationships with stakeholders
- Integrate the impacts of the new resilience and transparency requirements
- Make sure your practices are compliant by taking account of practical advice
- Master all the legal and compliance aspects arising from DORA
- Examine the impact on your practice
- Identify your options for action
- Assess what you need to manage in your relationships with stakeholders
- Integrate the impacts of the new resilience and transparency requirements
- Make sure your practices are compliant by taking account of practical advice
- CEOs, directors, chairmen, managing directors and executives of financial institutions
- Chief Compliance Officer (CCO), Head of compliance, Compliance managers, compliance, Compliance Officers in banks, insurance companies, funds, stock exchanges and investment firms
- Compliance officers and Compliance analysts
- Data analysts
- CROs and risk departments
- Heads of legal departments
- Legal counsel, legal advisers, lawyers, legal staff
- Audit and internal control
- Lawyers
- Specialist consultants
- Dematerialisation managers, digital transformation managers, digital product managers, technical consultants
- Chief Information Officer, IT architects, IT and/or information systems directors, information systems security managers, IT project managers, IT research managers
- Data Protection Officer (DPO)
- Anyone involved in digital transformation in the financial sector who needs to integrate compliance constraints
09:00 Understanding the challenges of the DORA regulation
- Towards digital operational resilience in the financial sector
- What DORA provides for
- The main changes that have been made as a result of the negotiations
- Scope: to whom does it apply? Which entities are covered by the regulation?
- What are the new obligations for financial institutions?
- What are the typical ICT risk management concerns?
- How can you prepare?
- The new responsibilities of supervisors
- Exercise registers with dependencies on third party ICTs
- Impact on existing supervisory expectations regarding IT/cyber risk, outsourcing, cloud computing, ...
Compliance guidelines and considerations
- Reinforced requirements for managing operational risks related to the use of digital technologies
- Notification of security or system availability incidents: scope and deadlines
- Cooperation between national supervisory authorities and financial institutions to better manage operational risks
- New publications of information on information and security systems: form and regularity
12:00 - 12:30 Q&A and end of the webinar
This morning conference will be given remotely in English