EU Digital Operational Resilience Act Advisory

This white paper provides an advisory on the European Union Digital Operational Resilience Act (DORA) and its implications for financial institutions. It outlines the objectives and scope of DORA, which aims to establish a comprehensive ICT risk management framework for the financial sector within the EU. The document details how DORA seeks to address ICT risk management comprehensively, harmonize existing regulations across EU member states, and enhance IT security to ensure resilience against operational disruptions. Additionally, the paper describes SAS's services and the shared responsibility model regarding risk management. It includes information on SAS's typical offerings, such as on-premises software, managed cloud services, and professional services, emphasizing the importance of understanding the regulatory landscape when adopting these services. The advisory serves as a foundational resource for EU financial institutions to assess their risk and compliance strategies in light of DORA's requirements, which must be implemented by January 2025.