The new Digital Operational Resilience Act (DORA): What’s worth knowing?

About the webinar

This session, organized by the Bulgarian Fintech Association, features expert speakers Cilhan V. Salihoglu from Mastercard, Andrei Dochia from Marsh and Dimo Katrandzhiev from Penkov, Markov & Partners. During the webinar, our experts will discuss:

• The most critical aspects of DORA
• Key obligations and requirements stemming from DORA
• Practical tips for the implementation of DORA

🗓️ Date: June 27th

🕙 Time: 10:00 AM – 11:30 AM

💻 Platform: Zoom

What is Digital Operational Resilience Act (DORA)?

DORA is a significant regulatory framework established by the European Union to strengthen the operational resilience of financial entities against ICT (Information and Communication Technology) risks. This regulation is part of the EU’s Digital Finance Package, aimed at creating a safer and more efficient digital finance landscape across Europe. The key objectives of DORA are:

• Enhanced ICT Risk Management
• ICT Incident Reporting
• Digital Operational Resilience Testing
• Third-Party Risk Management
• Information Sharing

DORA applies to a wide range of financial entities including banks, payment institutions, insurance companies, investment firms, and financial market infrastructures. ICT service providers, such as cloud service providers and data analytics firms, are also within the scope of DORA. They need to comply with the standards set forth by the regulation.

DORA is expected to be fully implemented by financial institutions within a specified timeline set by the EU. The regulation has transitional provisions to allow entities time to adapt and comply with the new requirements.