As the financial sector becomes more reliant on digital systems, regulatory bodies are introducing stricter rules to ensure firms are resilient in the face of rising cyber threats and operational disruptions. One of the most significant regulations is the Digital Operational Resilience Act (DORA coming into practice on 17th January 2025), which aims to strengthen the financial sector’s defence against digital risks. DORA requires financial institutions to develop frameworks that allow them to prevent, detect, respond to, and recover from ICT (Information and Communication Technology) incidents.

This practical guide outlines actionable steps your financial firm can take to ensure it meets DORA compliance. 

Step 1: Establish an ICT Risk Management Framework

Actionable Step:  

Develop and implement a robust ICT risk management framework that identifies, assesses, and manages all risks related to your technology infrastructure, including communication channels.

Step 2: Develop an Incident Reporting and Response System

Actionable Step:

Create a clear system for identifying, reporting, and responding to ICT incidents swiftly. Ensure the process complies with DORA’s guidelines for mandatory reporting of major incidents.

Step 3: Conduct Regular Resilience Testing

Actionable Step:

Regularly test your ICT systems to identify vulnerabilities and ensure they can withstand cyberattacks or operational disruptions. DORA requires ongoing evaluations of resilience.

Step 4: Manage Third-Party Risk

Actionable Step:

Assess and manage the risks posed by third-party ICT service providers. DORA places a strong emphasis on ensuring that third-party vendors meet the same resilience standards as financial institutions.

 Step 5: Strengthen ICT Governance and Oversight

Actionable Step:

Establish a clear governance framework for managing ICT risks. This includes defining roles and responsibilities for overseeing the implementation of ICT systems and ensuring compliance.

Step 6: Implement Continuous Reporting

Actionable Step:

Set up continuous reporting systems to track ICT performance and security. Regularly report key metrics, incidents, and compliance efforts to both internal stakeholders and regulatory authorities.

Step 7: Prepare for Audits and External Assessments

Actionable Step:

DORA requires regular audits and assessments to ensure ongoing compliance. Be ready by maintaining thorough documentation of processes, communications, and testing activities.

Achieving DORA compliance is crucial for financial institutions to safeguard their operations in an increasingly digital world. By following this checklist, your firm can ensure it is prepared to meet the Digital Operational Resilience Act’s requirements, from risk management and incident reporting to governance and third-party oversight.

Salt Communications plays a key role in supporting financial institutions through the compliance process. With its secure communication solutions, Salt enhances your firm’s resilience, protects sensitive data, and helps meet the strict standards set by DORA.

Start preparing for DORA compliance today with Salt Communications as your trusted solution in securing your financial operations Contact us at info@saltcommunications.com or visit https://saltcommunications.com/dora-compliance/ for more information. 

About Salt Communications:

Salt Communications is a multi-award winning cyber security company providing a fully enterprise-managed software solution giving absolute privacy in mobile communications. It is easy to deploy and uses multi-layered encryption techniques to meet the highest of security standards. Salt Communications offers ‘Peace of Mind’ for Organisations who value their privacy, by giving them complete control and secure communications, to protect their trusted relationships and stay safe. Salt Communications is headquartered in Belfast, N. Ireland, for more information visit Salt Communications.