Analyst Content

Operational Resilience: The Global Deluge of Incoming Regulatory Requirements and the Need for Compliance

Operational resilience is top of mind for every regulator and market participant in 2024. The increase in cyberattacks and ransomware, along with the amplified industry focus on decreasing operational risk, have resulted in a rise of new regulations like DORA for banks and financial firms. This paper by Virginie O’Shea of Firebrand Research examines the coming compliance regulations and what that means for financial services firms now and in the future.

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Overview

Along with an overview of the regulations, this paper outlines ways that firms can proactively meet these compliance requirements through a range of best practices, including:

  • Protection and review: Assess existing dependencies and resilience of infrastructure – both on cloud and on premise.
  • Readiness for changes: Examine the need for multiple layers of data protection, mirroring of environments and workflows for mission critical systems with back-up environments.
  • Detection of attacks: Scan for attacks and cyber-weaknesses as threats evolve.
  • Recovery: Prepare for recovery within the regulatory timeframes.