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Backplanning and Gap Analysis: Proactive Approaches to DORA Compliance

The Digital Operational Resilience Act (DORA) has introduced new requirements for financial entities to ensure the resilience and security of their digital infrastructure. In this article, we’ll discuss two proactive approaches to DORA compliance: backplanning and gap analysis. These methods can help organizations identify and address any shortcomings in their current systems and processes, ensuring a smooth transition to full compliance.  

Backplanning: Working Backwards to Meet Deadlines  

Backplanning, also known as reverse planning, is an approach where you start with the final goal (in this case, DORA compliance) and work backward to create a detailed plan with milestones and deadlines. This method allows organizations to prioritize tasks and allocate resources effectively, ensuring that all necessary steps are completed in a timely manner.  

To implement backplanning for DORA compliance, begin by identifying the key requirements of the regulation and the deadline for compliance. Next, work backward from this deadline to create a detailed plan with milestones and deadlines for each task. This approach can help your organization stay on track and meet regulatory deadlines while minimizing the risk of last-minute surprises.  

Gap Analysis: Identifying and Addressing Weaknesses  

A gap analysis is a process used to identify areas where an organization’s current systems and processes fall short of regulatory requirements or best practices. By conducting a gap analysis, organizations can pinpoint areas of weakness and develop targeted strategies to address these shortcomings.  

To perform a gap analysis for DORA compliance, begin by reviewing the regulation’s requirements and comparing them to your organization’s current systems and processes. Identify any areas where your organization may not meet the standards set forth by DORA, and prioritize these areas based on their potential impact on compliance.  

Once you’ve identified gaps in your organization’s compliance, develop a plan to address these weaknesses. This may involve updating policies, implementing new technologies, or providing additional training for employees. Regularly monitor progress and make adjustments as needed to ensure that your organization remains on track to achieve full compliance.  

The Role of Training and Board Awareness  

As part of your DORA compliance efforts, it’s essential to ensure that board members and other stakeholders are aware of the regulation’s requirements and their responsibilities. Providing ongoing training and awareness programs can help foster a culture of compliance within your organization and ensure that everyone is working towards the same goal.  

In addition to training board members, consider offering targeted training programs for other stakeholders involved in DORA compliance, such as IT, compliance, and risk management teams. This can help ensure that everyone involved in the compliance process has the necessary knowledge and skills to contribute effectively. 

Monitoring Progress and Adjusting as Needed  

As you work towards DORA compliance, it’s important to monitor progress regularly and make adjustments to your plan as needed. This may involve revising deadlines, reallocating resources, or updating your gap analysis to reflect changes in the regulatory landscape.  

By staying vigilant and adapting your approach as needed, your organization can ensure that it remains on track to meet DORA compliance deadlines and maintain the resilience and security of its digital infrastructure. 

By adopting proactive approaches like backplanning and gap analysis can help organizations navigate the complexities of DORA compliance more effectively. By identifying weaknesses early on and developing targeted strategies to address them, organizations can ensure a smoother transition to full compliance and minimize the risks associated with non-compliance.

Join our free webinar Empowering Boards for Digital Operational Resilience Success: Bridging Competencies and Demystifying DORA to learn more.