Bridging the Gap
How ISO 27001 Compliance Paves the Way for DORA Success

DORA aims to ensure that financial institutions possess the operational resilience to withstand and recover from disruptions, including cyber attacks. This aligns perfectly with the risk-based approach advocated by ISO 27001, which establishes an Information Security Management System (ISMS) to identify, assess, and mitigate information security risks.

Posted on: Friday, March 22nd, 2024

The Digital Operational Resilience Act (DORA) has brought about an unprecedented change to the financial sector. This regulation, which will go into effect in 2025, requires financial institutions to have strong digital resilience and protect their vital operations from cyber attacks and disruptions. While entering this new landscape might seem daunting, organizations already practicing good information security practices through ISO 27001 compliance have a significant head start.

ISO 27001: A Solid Foundation for DORA Compliance

Fundamentally, DORA aims to ensure that financial institutions possess the operational resilience to withstand and recover from disruptions, including cyber attacks. This aligns perfectly with the risk-based approach advocated by ISO 27001, which establishes an Information Security Management System (ISMS) to identify, assess, and mitigate information security risks.

Here’s how ISO 27001 compliance significantly helps in achieving DORA compliance:

  • Shared Focus on Risk Management: Both frameworks emphasize a robust risk management framework. By following ISO 27001’s established methodology, organizations have already identified and addressed critical information security risks, creating a strong foundation for complying with DORA’s risk management requirements.
  • Pre-existing Security Controls: Many DORA requirements map directly to existing ISO 27001 controls. Organizations with an ISMS already have safeguards in place, such as incident response plans, access controls, and security policies, which directly contribute to DORA compliance.
  • Streamlined Implementation: Organizations already familiar with the structured approach of ISO 27001 will find it easier to adapt their existing ISMS to meet DORA’s specific requirements. This minimizes redundancy and streamlines the compliance process.
  • Increased Efficiency: By leveraging their existing ISMS framework, organizations can avoid re-inventing the wheel when working towards DORA compliance. This translates to cost savings and faster implementation timelines.
  • Demonstrating Commitment: Achieving and maintaining ISO 27001 certification showcases an organization’s commitment to cybersecurity best practices. This instills confidence in regulators and stakeholders, demonstrating a proactive approach to digital resilience, a key aspect of DORA compliance.

Beyond the Bridge: Bridging the Gap to Full Compliance

While ISO 27001 provides a solid foundation, full DORA compliance requires additional steps. Organizations need to:

  • Identify DORA-specific requirements not directly addressed by ISO 27001. These might include incident reporting obligations, third-party risk management procedures, or operational recovery testing.
  • Conduct gap analysis and assessments to evaluate their current state against DORA’s requirements.
  • Tailor their ISMS to incorporate DORA-specific controls and processes.
  • Develop and implement additional documentation mandated by DORA, such as incident reporting procedures and recovery plans.

How we can help

Transitioning to DORA compliance can be complex, but it doesn’t have to be a solo journey. Partnering with experienced consultants can provide invaluable guidance and support throughout the process. They can help you:

  • Understand DORA’s specific requirements in the context of your organization.
  • Identify and address gaps in your existing ISMS.
  • Develop a tailored implementation plan to achieve DORA compliance.
  • Provide ongoing support throughout the journey.

Kyte can assist with all documentation requirements to achieve compliance as well as provide technical solutions which are mandated under DORA, like Penetration Testing and Incident Response.

By leveraging the existing foundation of ISO 27001 compliance and seeking expert guidance, organizations can navigate the DORA complexities with confidence, ensuring their digital resilience and safeguarding their critical operations in the face of evolving threats.

 

Get in touch with us on sales@kyte.global if you would want to discuss further the DORA compliance service. We are happy to assist you.

Raising standards since 2006.

Kyte Global, with clients in over 65 countries has established itself as a unique company providing a one-stop-shop to all your information security and compliance requirements.

At Kyte Global we attempt to add value in everything we do. Our services have evolved as a result of the growing needs of our clients. Regulations keep getting stricter, compliance requirements keep getting more onerous and clients find themselves spending more time addressing these issues rather than focusing on their business. At the same time, resources with the right knowledge and experience are hard to come by. Kyte Global tries to tackle these issues by providing a one stop shop to all the client’s needs. Kyte Global understands that Compliance is an effective way of ensuring that controls are implemented.

Internally, Kyte Global is organised in teams, each dedicated to a specific service, usually revolving around a specific standard or regulation. Some of these are PCI DSS, ISO 27001, GDPR, Internal Audit, AML, Gaming, Penetration Testing, Training to name a few. Each team is made up of trained professionals, all experts in their own field.

Over the years, Kyte Global has established partnerships with suppliers that develop and implement industry leading solutions so that it can make recommendations to clients who require such services or products. Kyte is proud to have a network of partners that can assist its clients, big or small, in virtually all of the industries it operates in.

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