Consumer finance institution · Financial · Europe
The challenge
With DORA, the EU’s Digital Operational Resilience Act, coming in, this institution had to take a hard look at where it stood. It needed a full gap analysis, an audit of its critical ICT third-party providers and updated cybersecurity and incident management policies to meet the demanding new framework.
What we did
- We designed a DORA readiness programme combining a technical audit, carried out by auditors from our network, with regulatory advice.
- We implemented software to manage and continuously monitor ICT third-party risk, one of DORA’s key requirements.
- Lawyers from our network updated the contracts with those providers.
The outcome
- Gap analysis completed and action plan implemented within 4 months.
- Third-party risk management platform in place, automating 70% of the reporting process.
- Institution ready for the supervisor’s first inspection under DORA.
Services involved: Global Regulatory Strategy · Implementation and Technology · Global Law and Integrated Legal Advisory.
