Digital Operational Resilience Act Articles (Proposal)

The Articles (Proposal) of the Digital Operational Resilience Act

Digital Operational Resilience Act (DORA), Article 12, Learning and evolving.

1. Financial entities shall have in place capabilities and staff, suited to their size, business and risk profiles, to gather information on vulnerabilities and cyber threats, ICT-related incidents, in particular cyber-attacks, and analyse their likely impacts on their digital operational resilience.

2. Financial entities shall put in place post ICT-related incident reviews after significant ICT disruptions of their core activities, analysing the causes of disruption and identifying required improvements to the ICT operations or within the ICT Business Continuity Policy referred to in Article 10.

When implementing changes, financial entities other than microenterprises shall communicate those changes to the competent authorities.

The post ICT-related incident reviews referred to in the first subparagraph shall determine whether the established procedures were followed and the actions taken were effective, including in relation to:

(a) the promptness in responding to security alerts and determining the impact of ICT-related incidents and their severity;

(b) the quality and speed in performing forensic analysis;

(c) the effectiveness of incident escalation within the financial entity;

(d) the effectiveness of internal and external communication.

3. Lessons derived from the digital operation resilience testing carried out in accordance with Articles 23 and 24 and from real life ICT-related incidents, in particular cyber-attacks, along with challenges faced upon the activation of business continuity or recovery plans, together with relevant information exchanged with counterparties and assessed during supervisory reviews, shall be duly incorporated on a continuous basis into the ICT risk assessment process. These findings shall translate into appropriate reviews of relevant components of the ICT risk management framework referred to in Article 5(1).

4. Financial entities shall monitor the effectiveness of the implementation of their digital resilience strategy set out in Article 5(9). They shall map the evolution of ICT risks over time, analyse the frequency, types, magnitude and evolution of ICT-related incidents, in particular cyber-attacks and their patterns, with a view to understand the level of ICT risk exposure and enhance the cyber maturity and preparedness of the financial entity.

5. Senior ICT staff shall report at least yearly to the management body on the findings referred to in paragraph 3 and put forward recommendations.

6. Financial entities shall develop ICT security awareness programs and digital operational resilience trainings as compulsory modules in their staff training schemes. These shall be applicable to all employees and to senior management staff.

Financial entities shall monitor relevant technological developments on a continuous basis, also with a view to understand possible impacts of deployment of such new technologies upon the ICT security requirements and digital operational resilience. They shall keep abreast of the latest ICT risk management processes, effectively countering current or new forms of cyber-attacks.