Can Your ICT Vendors Put Your DORA Compliance at Risk?
Can your ICT vendors put your DORA compliance at risk? Even with strong internal cybersecurity controls, third-party ICT providers can introduce operational resilience risks that financial institutions cannot afford to overlook. Under the Digital Operational Resilience Act (DORA) financial entities must establish effective ICT third-party risk management practices, including vendor oversight, due diligence, contractual arrangements, ongoing monitoring and appropriate contingency planning.