DORA Implementation for a Financial Entity in Europe

Needs And Requirements:

The Digital Operational Resilience Act (DORA), a mandatory EU regulation for financial companies, has made it imperative for this organization to comply with industry standards and regulatory requirements. As the largest financial services provider in their region, they have been frequently targeted by cyber-attacks, making them particularly vulnerable to operational disruptions. This elevated risk environment emphasized the importance of aligning with DORA’s directives, driving the organization to enhance its resilience measures. As a result, they reinforced their commitment to operational continuity and cybersecurity excellence, ensuring they meet both regulatory expectations and industry best practices.

Main Challenges:

Evolving and Sophisticated Threat Landscape: Remaining vigilant and continuously improving security measures was necessary for a large company.

Complex and Interconnected Technology Infrastructure: Having thousands of sites all over the country required a very large infrastructure that needed to be secured.

Compliance with Regulatory Requirements: Adhering to financial services regulations for a company of this size was complex but necessary.

Solution:

Program Guidance and Operational Remediation: Hitachi Cyber provided expert guidance and specialized support to ensure the certification framework requirements were fully met, while also fostering opportunities for continuous improvement. Additionally, they carried out pre-defined operational remediation tasks on the client’s behalf, addressing key challenges and enhancing overall program efficiency.

Cyber Risk Evaluation: Hitachi Cyber proactively identified threats affecting the organization’s digital supply chain, addressing vulnerabilities before they could be exploited. They conducted a comprehensive assessment of the company’s digital infrastructure, data assets, and operational practices to identify, evaluate, and prioritize additional cybersecurity risks. This thorough analysis ensured a robust defense strategy against potential threats the organization might encounter.

Outcomes:

Following Hitachi Cyber’s intervention, the organization was compliant with DORA regulations on critical aspects. The company still requires further efforts to fully comply with DORA regulations; however, significant progress has been made in enhancing cybersecurity, with critical weaknesses already addressed.

Next Steps:

Looking ahead, the company will maintain its partnership with Hitachi Cyber to ensure full compliance with DORA regulations and beyond. Hitachi Cyber will continue to provide tailored guidance and expert support as needed. Additionally, the organization plans to conduct penetration tests and social engineering simulations to thoroughly assess and strengthen its defense against potential threats.