On Thursday, 25 May our first webinar on the upcoming Digital Operational Resilience Act (DORA) regulation took place.
During this webinar, our KPMG experts have discussed the governance requirements pillar of the DORA regulation, which sets out the framework for the overall management and oversight of operational resilience within the organization.
We have learned about the key elements of this pillar, including responsibility, governance, risk management, business continuity, reporting, and testing. This includes the setup of a successful internal control framework, considering risk assessment, control design, control testing, and reporting. We show how ServiceNow's IRM and ITOM solutions can support these activities by automating manual processes and improving visibility and reporting capabilities.
Via a demo we learned how ServiceNow’s platform can help you efficiently manage compliance with DORA requirements and establish a robust internal control framework and governance structure.
Below you can find the next steps to get started:
- Setup – establish a DORA program for 2024 and appoint a program director and sponsor
- Assess – set strategic goals, perform your readiness and gap assessment
- Mobilize – engage organizational teams and create the supporting structures. Identify your target maturity state and key dependencies
- Harmonize – develop a prioritized remediation program, which includes process harmonization. Create detailed requirements and select tools such as ServiceNow, to support transformation in-line with your strategic goals
- Institutionalize and embed – deliver the remediation program, turn the transformation into sustainable practice, operationalizing your technology platform
