According to preamble 45 of the Digital Operational Resilience Act (DORA), to ensure full alignment and overall consistency between financial entities’ business strategies, on the one hand, and the conduct of ICT risk management, on the other hand, the financial entities’ management bodies should be required to maintain a pivotal and active role in steering and adapting the ICT risk management framework and the overall digital operational resilience strategy.
The approach to be taken by management bodies should not only focus on the means of ensuring the resilience of the ICT systems, but should also cover people and processes through a set of policies which cultivate, at each corporate layer, and for all staff, a strong sense of awareness about cyber risks and a commitment to observe a strict cyber hygiene at all levels.
The ultimate responsibility of the management body in managing a financial entity’s ICT risk should be an overarching principle of that comprehensive approach, further translated into the continuous engagement of the management body in the control of the monitoring of the ICT risk management.
According to Article 5 of the Digital Operational Resilience Act (DORA), the management body shall:
(a) bear the ultimate responsibility for managing the financial entity’s ICT risk;
(b) put in place policies that aim to ensure the maintenance of high standards of availability, authenticity, integrity and confidentiality, of data;
(c) set clear roles and responsibilities for all ICT-related functions and establish appropriate governance arrangements to ensure effective and timely communication, cooperation and coordination among those functions;
(d) bear the overall responsibility for setting and approving the digital operational resilience strategy , including the determination of the appropriate risk tolerance level of ICT risk of the financial entity;
(e) approve, oversee and periodically review the implementation of the financial entity’s ICT business continuity policy and ICT response and recovery plans;
(f) approve and periodically review the financial entity’s ICT internal audit plans, ICT audits and material modifications to them;
(g) allocate and periodically review the appropriate budget to fulfil the financial entity’s digital operational resilience needs in respect of all types of resources, including relevant ICT security awareness programmes and digital operational resilience training referred to in Article 13(6), and ICT skills for all staff;
(h) approve and periodically review the financial entity’s policy on arrangements regarding the use of ICT services provided by ICT third-party service providers;
(i) put in place, at corporate level, reporting channels enabling it to be duly informed of the following:
(i) arrangements concluded with ICT third-party service providers on the use of ICT services,
(ii) any relevant planned material changes regarding the ICT third-party service providers,
(iii) the potential impact of such changes on the critical or important functions subject to those arrangements, including a risk analysis summary to assess the impact of those changes, and at least major ICT-related incidents and their impact, as well as response, recovery and corrective measures.
3. Financial entities, other than microenterprises, shall establish a role in order to monitor the arrangements concluded with ICT third-party service providers on the use of ICT services, or shall designate a member of senior management as responsible for overseeing the related risk exposure and relevant documentation.
4. Members of the management body of the financial entity shall actively keep up to date with sufficient knowledge and skills to understand and assess ICT risk and its impact on the operations of the financial entity, including by following specific training on a regular basis, commensurate to the ICT risk being managed.
The Digital Operational Resilience Act must be implemented by financial entities and their service providers. According to Article 50, Member States must establishing appropriate administrative penalties and remedial measures for breaches of this regulation and shall ensure their effective implementation. The penalties and measures must be effective, proportionate and dissuasive. Financial entities need assurance that employees and contractors have the knowledge and skills needed to comply with the regulation, mitigate risks and accept responsibility.
Supervisors and auditors ask for independent evidence that the process owners are qualified, and that the controls can operate as designed, because the persons responsible for these controls have the necessary knowledge and experience.
The marketplace is clearly demanding qualified professionals that have the knowledge and skills needed to comply with this regulation.
The program has been designed to provide with the skills needed to understand and support compliance with the Digital Operational Resilience Act (DORA).
It also provides with the skills needed to pass the Digital Operational Resilience Act Trained Professional (DORATPro) exam, and to receive the Certificate of Completion, that provides independent evidence to firms and organizations that you have a quantifiable understanding of the subject matter.
The program is beneficial to risk and compliance managers and professionals, auditors, consultants, suppliers and service providers that work for companies and organizations that have to comply with the Digital Operational Resilience Act (DORA).
Who must comply with the Digital Operational Resilience Act (DORA)?
According to Article 2 (Scope) of the Digital Operational Resilience Act (DORA), this Regulation applies to the following entities:
(a) credit institutions;
(b) payment institutions, including payment institutions exempted pursuant to Directive (EU) 2015/2366;
(c) account information service providers;
(d) electronic money institutions, including electronic money institutions exempted pursuant to Directive 2009/110/EC;
(e) investment firms;
(f) crypto-asset service providers as authorised under a Regulation of the European Parliament and of the Council on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (‘the Regulation on markets in crypto-assets’) and issuers of asset-referenced tokens;
(g) central securities depositories;
(h) central counterparties;
(i) trading venues;
(j) trade repositories;
(k) managers of alternative investment funds;
(l) management companies;
(m) data reporting service providers;
(n) insurance and reinsurance undertakings;
(o) insurance intermediaries, reinsurance intermediaries and ancillary insurance intermediaries;
(p) institutions for occupational retirement provision;
(q) credit rating agencies;
(r) administrators of critical benchmarks;
(s) crowdfunding service providers;
(t) securitisation repositories;
(u) ICT third-party service providers.
For the purposes of this Regulation, entities referred to in paragraph 1, points (a) to (t), shall collectively be referred to as ‘financial entities’.
- The European Union (EU) - key institutions, the EU legislative process, the roles.
- The European System of Financial Supervision.
- The major changes after the Lisbon Treaty.
- Delegated acts - supplementing or amending certain non-essential elements of a basic act.
- Implementing acts.
- Regulatory technical standards (RTS), Implementing technical standards (ITS).
- The Committee of European Auditing Oversight Bodies (CEAOB).
- The European External Action Service, Common Foreign and Security Policy (CFSP), Common Security and Defence Policy (CSDP), European Cyber Defence Policy Framework (CDPF).
- The FinTech Action Plan of 2018.
- The Digital Finance Package.
- Understanding the need for the new DORA regulation.
- NIS, NIS 2 and DORA.
- Public security, defence, national security.
- Outsourcing in financial services.
- The Digital Operational Resilience Act, Important Articles.
- Subject matter, Scope.
- Proportionality principle.
- ICT risk management.
- Governance and organisation.
- ICT risk management framework, systems, protocols and tools.
- Identification, protection, prevention, detection, response and recovery.
- Backup policies and procedures, restoration and recovery.
- Learning and evolving.
- Further harmonisation.
- ICT-related incident management, classification and reporting.
- Incident management process, classification of ICT-related incidents, reporting of major ICT-related incidents.
- Harmonisation and centralisation of reporting of major ICT-related incidents.
- Incidents concerning credit institutions, payment institutions, account information service providers, and electronic money institutions.
- Digital operational resilience testing.
- General requirements for the performance of digital operational resilience testing.
- Testing of ICT tools and systems.
- Advanced testing of ICT tools, systems and processes.
- Requirements for testers for the carrying out of TLPT.
- Managing of ICT third-party risk.
- Key principles for a sound management of ICT third-party risk.
- Preliminary assessment of ICT concentration risk at entity level.
- Key contractual provisions.
- Oversight Framework of critical ICT third-party service providers.
- Designation of critical ICT third-party service providers.
- Structure of the Oversight Framework.
- Tasks of the Lead Overseer.
- Operational coordination between Lead Overseers.
- Powers of the Lead Overseer.
- Exercise of the powers of the Lead Overseer outside the Union.
- Information-sharing arrangements.
- Information-sharing arrangements on cyber threat information and intelligence.
- Competent authorities.
- Cooperation with structures and authorities established by Directive (EU) 2022/2555.
- Cooperation between authorities.
- Financial cross-sector exercises, communication and cooperation.
- Administrative penalties and remedial measures.
- Criminal penalties.
- Publication of administrative penalties.
- Data Protection.
- Delegated acts.
- Exercise of the delegation.
- Transitional and final provisions.
- Review clause.
- So many deadlines … Mark your calendar.
- All the 35 references to the NIS 2 Directive (Directive (EU) 2022/2555) in one list.
- Important national discretions (even in a regulation…).
- Other new EU Directives and Regulations.
- The European Cyber Resilience Act.
- The NIS 2 Directive.
- The Critical Entities Resilience Directive (CER).
- The Digital Services Act (DSA).
- The Digital Markets Act (DMA).
- The European Health Data Space (EHDS).
- The European Chips Act.
- The European Data Act.
- The European Data Governance Act (DGA).
- The Artificial Intelligence Act.
- The European ePrivacy Regulation.
- Closing remarks.
Become a Digital Operational Resilience Act Trained Professional (DORATPro)
This is a Distance Learning with Certificate of Completion program, provided by Cyber Risk GmbH. The General Terms and Conditions for all legal transactions made through the Cyber Risk GmbH websites (hereinafter “GTC”) can be found at: https://www.cyber-risk-gmbh.com/Impressum.html
Each Distance Learning with Certificate of Completion program (hereinafter referred to as “distance learning program”) is provided at a fixed price, that includes VAT. There is no additional cost, now or in the future, for any reason.
We will send the distance learning program via email up to 24 hours after the payment (working days). Please remember to check the spam folder of your email client too, as emails with attachments are often landed in the spam folder.
You have the option to ask for a full refund up to 60 days after the payment. If you do not want one of our distance learning programs for any reason, all you must do is to send us an email, and we will refund the payment, no questions asked.
Your payment will be received by Cyber Risk GmbH (Dammstrasse 16, 8810 Horgen, Switzerland, Handelsregister des Kantons Zürich, Firmennummer: CHE-244.099.341). Cyber Risk GmbH will also send the certificates of completion to all persons that will pass the exam.
The all-inclusive cost is 297 USD (US Dollars).
First option: You can purchase the Digital Operational Resilience Act Trained Professional (DORATPro) program with VISA, MASTERCARD, AMEX, Apple Pay, Google Pay etc.Purchase the DORATPro program here (VISA, MASTERCARD, AMEX, Apple Pay, Google Pay etc.)
Second option: QR code payment.
i. Open the camera app or the QR app on your phone.
ii. Scan the QR code and possibly wait for a few seconds.
iii. Click on the link that appears, open your browser, and make the payment.
Third option: You can purchase the Digital Operational Resilience Act Trained Professional (DORATPro) program with PayPal
When you click "PayPal" below, you will be redirected to the PayPal web site. If you prefer to pay with a card, you can click "Debit or Credit Card" that is also powered by PayPal.
What is included in the cost of the distance learning program:
A. The official presentations (994 slides).
The presentations are effective and appropriate to study online or offline. Busy professionals have full control over their own learning and are able to study at their own speed. They are able to move faster through areas of the course they feel comfortable with, but slower through those that they need a little more time on.
B. Up to 3 online exam attempts per year.
Candidates must pass only one exam. If they fail, they must study the official presentations and retake the exam. Candidates are entitled to 3 exam attempts every year.
If candidates do not achieve a passing score on the exam the first time, they can retake the exam a second time.
If they do not achieve a passing score the second time, they can retake the exam a third time.
If candidates do not achieve a passing score the third time, they must wait at least one year before retaking the exam. There is no additional cost for additional exam attempts.
To learn more, you may visit:
C. The certificate of completion, with a scannable QR code for verification.
We will send it via email in Adobe Acrobat format (pdf). You will receive it up to 7 working days after you pass the exam.
D. Cyber Risk GmbH will develop a web page dedicated to each certified professional (https://www.cyber-risk-gmbh.com/Your_Name.htm).
When third parties scan the QR code on your certificate, they will visit this web page (https://www.cyber-risk-gmbh.com/Your_Name.htm), and they will be able to verify that you are a certified professional, and your certificates are valid and legitimate.
In this web page we will have your name, all the certificates you have received from us, and pictures of your certificates.
This is an example:
You can print your certificate that you will receive in Adobe Acrobat format (pdf). With the scannable QR code, all third parties can verify the authenticity of each certificate in a matter of seconds. Professional certificates are some of the most frequently falsified documents. Employers and third parties need an easy, effective, and efficient way to check the authenticity of each certificate. QR code verification is a good response to this demand.
Frequently Asked Questions for the distance learning programs.
1. I want to know more about Cyber Risk GmbH.
“Cyber Risk GmbH” is a company incorporated in Switzerland.
Registered company name: Cyber Risk GmbH.
Registered address: Dammstrasse 16, 8810 Horgen, Switzerland.
Company number: CHE-244.099.341.
Cantonal Register of Commerce: Canton of Zürich.
Swiss VAT number: CHE-244.099.341 MWST.
EU VAT number: EU276036462. Cyber Risk GmbH is registered for EU VAT purposes in Germany (Bundeszentralamt für Steuern, Dienstsitz Saarlouis, Referat St III 4, One-Stop-Shop, Ludwig-Karl-Balzer-Allee 2, 66740 Saarlouis - Verfahren One-Stop-Shop, Nicht EU-Regelung) for the sale of services in the EU. The VAT One Stop Shop (OSS) simplifies VAT obligations for non-EU businesses selling goods and services cross border to final consumers in the EU. Cyber Risk GmbH declares and pays EU VAT in a single electronic quarterly return submitted to Germany, and the German Bundeszentralamt für Steuern forwards the EU VAT due to each member State of the EU.
“Cyber Risk GmbH Training Programs” are training programs developed, updated and provided by Cyber Risk GmbH, and include:
a) In-House Instructor-Led Training programs,
b) Online Live Training programs,
c) Video-Recorded Training programs,
d) Distance Learning with Certificate of Completion programs.
“Cyber Risk GmbH websites” are all websites that belong to Cyber Risk GmbH, and include the following:
a. Sectors and Industries.
14. Sanctions Risk
15. Travel Security
b. Understanding Cybersecurity.
c. Understanding Cybersecurity in the European Union.
2. Are your training and certification programs vendor neutral?
Yes. We do not promote any products or services, and we are 100% independent.
3. I want to learn more about the exam.
You can take the exam online from your home or office, in all countries.
It is an open book exam. Risk and compliance management is something you must understand and learn, not memorize. You must acquire knowledge and skills, not commit something to memory.
You will be given 90 minutes to complete a 35-question exam. You must score 70% or higher.
The exam contains only questions that have been clearly answered in the official presentations.
All exam questions are multiple-choice, composed of two parts:
a. A stem (a question asked, or an incomplete statement to be completed).
b. Four possible responses.
In multiple-choice questions, you must not look for a correct answer, you must look for the best answer. Cross out all the answers you know are incorrect, then focus on the remaining ones. Which is the best answer? With this approach, you save time, and you greatly increase the likelihood of selecting the correct answer.
TIME LIMIT - This exam has a 90-minute time limit. You must complete this exam within this time limit, otherwise the result will be marked as an unsuccessful attempt.
BACK BUTTON - When taking this exam you are NOT permitted to move backwards to review/change prior answers. Your browser back button will refresh the current page instead of moving backward.
RESTART/RESUME – You CANNOT stop and then resume the exam. If you stop taking this exam by closing your browser, your answers will be lost, and the result will be marked as an unsuccessful attempt.
SKIP - You CANNOT skip answering questions while taking this exam. You must answer all the questions in the order the questions are presented.
We do not send sample questions or past exams. If you study the presentations, you can score 100%.
When you are ready to take the exam, you must follow the steps described at "Question h. I am ready for the exam. What must I do?", at:
4. How comprehensive are the presentations? Are they just bullet points?
The presentations are not bullet points. They are effective and appropriate to study online or offline.
5. Do I need to buy books to pass the exam?
No. If you study the presentations, you can pass the exam. All the exam questions are clearly answered in the presentations. If you fail the first time, you must study more. Print the presentations and use Post-it to attach notes, to know where to find the answer to a question.
6. Is it an open book exam? Why?
Yes, it is an open book exam. Risk and compliance management is something you must understand and learn, not memorize. You must acquire knowledge and skills, not commit something to memory.
7. Do I have to take the exam soon after receiving the presentations?
No. You can take the exam any time. Your account never expires.
8. I want to receive a printed certificate. Can you send me one?
The cost of your certificate with a scannable QR code for verification is included in the cost of the program. We will send it via email in Adobe Acrobat format (pdf). You will receive it up to 7 working days after you pass the exam.
The cost of each printed certificate sent to your mail address is $75. It includes the administration, processing, and posting via registered mail with tracking number. Printed certificates are usually dispatched every 12 weeks. We accept payments with cards, QR, and PayPal.
You do not need to order a printed certificate. You can simply print your certificate that you will receive in Adobe Acrobat format (pdf). With the scannable QR code, all third parties can verify the authenticity of each certificate in a matter of seconds.
9. Why should I purchase this program?
Firms and organizations hire and promote “fit and proper” professionals who can provide evidence that they are qualified. Employers need assurance that employees have the knowledge and skills needed to mitigate risks and accept responsibility. Supervisors and auditors ask for independent evidence that the process owners are qualified, and that the controls can operate as designed, because the persons responsible for these controls have the necessary knowledge and experience.
There are many new Directives and Regulations in the EU, and our target audience is overwhelmed and has little time to spare. Cyber Risk GmbH has developed a program that can assist them in understanding the new requirements, and in providing evidence that they are qualified, as they must pass an exam to receive their certificate of completion.
The all-inclusive cost of our distance learning programs is very low. There is no additional cost for each program, now or in the future, for any reason.
There are 3 exam attempts per year that are included in the cost of each program, so you do not have to spend money again if you fail.
You have a 100 USD discount for your second and each additional program from Cyber Risk GmbH (the all-inclusive cost is 197 USD).
For example, you may consider:
1. The NIS 2 Directive Trained Professional (NIS2DTP) program at: https://www.nis-2-directive.com/NIS_2_Directive_Trained_Professional_(NIS2DTP).html.
2. The Critical Entities Resilience Directive Trained Professional (CERDTPro) program at: https://www.critical-entities-resilience-directive.com/Critical_Entities_Resilience_Directive_Trained_Professional_(CERDTPro).html.
3. The Digital Services Act Trained Professional (DiSeActTPro) program at: https://www.eu-digital-services-act.com/DiSeActTPro_Training.html.
4. The Digital Markets Act Trained Professional (DiMaActTPro) program at: https://www.eu-digital-markets-act.com/DiMaActTPro_Training.html.
5. The Data Governance Act Trained Professional (DatGovActTP) program at: https://www.european-data-governance-act.com/DatGovActTP_Training.html.
If you have already purchased one of our programs, please send us an email, to give you the URL for the discounted cost.
George Lekatis, a well-known expert in risk management and compliance, oversaw the development of this program. He has more than 20,000 hours experience as a seminar leader, and has provided training and executive coaching in information security and risk management to many leading global organizations, in 36 countries.
Cyber Risk GmbH
Tel: +41 79 505 89 60
We process and store data in compliance with both, the Swiss Federal Act on Data Protection (FADP) and the EU General Data Protection Regulation (GDPR). The service provider is Hostpoint. The servers are located in the Interxion data center in Zürich, the data is saved exclusively in Switzerland, and the support, development and administration activities are also based entirely in Switzerland.