Preparing Service Operations and Governance for DORA Webinar, co-created by Einar and Partners and The Cloud People, dives into how financial institutions can prepare for the Digital Operational Resilience Act (DORA) and leverage ServiceNow to streamline the process.
Key Points:
- DORA mandates enhanced operational resilience for financial institutions.
- Institutions need to thoroughly understand their IT infrastructure and its impact on core business functions.
- A criticality assessment is essential, identifying critical applications, system dependencies, and establishing clear ownership and governance models.
- Full compliance isn’t expected immediately, but a demonstrated commitment to achieving compliance is crucial.
- ServiceNow offers an Operational Resilience application that can assist with various aspects of DORA compliance.
- ServiceNow Operational Resilience Application
The ServiceNow application incorporates a five-step approach to getting started:
- Define Pillars and Performance Metrics: This involves outlining the institution’s resilience pillars and establishing key performance indicators (KPIs) to measure progress.
- Assess Service Importance: Here, critical business services and assets are identified and mapped to determine their impact tolerance.
- Build Relationships with Other Platforms: Data from various platforms is integrated to provide a comprehensive view, incorporating ServiceNow data with other business applications like ERP and vulnerability scanners.
- Continual Improvement: This stage involves ongoing monitoring of resilience metrics, automation of issue creation and resolution, scenario testing, and report generation for different management levels.
- Maturity Model Integration: The ServiceNow application integrates with existing ITSM functionalities and progressively incorporates features like risk management, continuous control monitoring, and broader integration tools for a holistic view.
Key Takeaways
- DORA compliance necessitates a proactive approach to managing operational resilience.
- Financial institutions should take inventory of their IT infrastructure and assess its strengths and weaknesses.
- Clear ownership, well-defined governance models, and continuous improvement are essential for DORA compliance.
Video Chapters
0:00 Intro
4:33 DORA Compliance
18:27 DORA and the CMDB
22:11 Onboarding Approach
24:38 Maturity Level
26:45 Services & Interdependencies
28:13 Roadmap Advice
30:58 Real-life Roadmap Example
34:18 How Can ServiceNow Support Platform You
40:59 DORA in ServiceNow
43:46 Five Pillars of DORA
48:33 Final Words
