Operational resilience remains one of the top priorities for regulators and leaders around the world. But keeping track of every new operational resilience regulation that is enacted around the world is no easy task. As an organizational leader, you might be grappling with the constant stream of regulatory updates and tech innovations that could either fortify or compromise your business.
As the enforcement date for the Digital Operations Resilience Act (DORA) approaches, we've been sharing resources to help financial firms and other businesses understand and adapt to the new requirements.
It can be frustrating when you encounter a software bug and must research through many long, technical threads to find a solution. When digging through message boards and bug tracker threads, it’s common to wish for something to simply hand you the answer you’re looking for. Or, at the very least, to structure and summarize the data you are manually parsing.
The Digital Operational Resilience Act (DORA) is a first-of-its-kind regulation in the EU. DORA was published in 2023 to regulate financial services and insurance firms operating in the European Union. This includes many US firms with operations in the EU. For a comprehensive list of industries that will be subject to DORA, see Chapter 1, Article 2 of the DORA regulation.
The Digital Operational Resilience Act regulation marks a significant shift in the landscape of IT operational risk. This new EU legislation is focused on IT Operational Resilience. It brings into scope Critical Third Party Providers and requires public reporting of all incidents, in addition to fines. The DORA regulation enforces this via policies that aim to ensure the maintenance of high standards of availability, authenticity, integrity, and confidentiality.
It’s no secret that IT systems are most at risk during change. But how can you help your IT team improve their change management maturity and elevate risk awareness during these changes? In this article, we’ll describe how new solutions are challenging the status quo of IT change management, helping your organization lower its risk.
No software is perfect. But when a software has defects, it can cause outages with a costly aftermath. That software might be storage controller firmware, it may be running your network infrastructure, or it could be your critical enterprise applications. Those defects might be security vulnerabilities, or they may be operational defects, more commonly known as bugs.
ITIC’s latest research shows the Hourly Cost of Downtime now exceeds $300k for 91% of mid-market, and large enterprises. Overall, 44% of mid-sized and large enterprise survey respondents reported that a single hour of downtime can cost their businesses over $1M.
It all started in January of 2018. My team and I had just completed the build-out of our third datacenter in 12 months. We had just begun moving production workloads when a VMware NSX bug brought everything crashing down. For the next 22 hours we worked to restore operations.