As part of our mission to promote industry standardisation by reflecting industry questionnaires for use by Financial Institutions (FI) in our products, we are extending our reach into new questionnaire creation.
To this end, we have reverse-engineered the Digital Operational Resilience Act, line-by-line, in the construction of a questionnaire that an FI can issue to any third-party provider, critical or otherwise, to measure the provider’s own compliance with the requirements of the Act.
In gathering and ingesting all satisfactory responses from its providers and sharing the information with the European Supervisory Authorities (ESAs), an FI will be able to demonstrate to the regulator that it has an effective ICT Risk Management framework in place, compliant with DORA.
Our Due Diligence platform, CODUDE, provides the ideal vehicle for this annual cycle, with clone, copy and delta management functionality immediately cutting the vast majority of the manual workload. This is designed to be an immediate solution to a business challenge as yet not legally in force. It will go on to be a repeatable and highly automated procedure following in the best traditions of our dedicated, low-cost due diligence platform.
The DORAQ will be available in CODUDE from January 2025 and we look forward to assisting you in your journey to DORA compliance. Please contact us as above.
