DORA
EU regulation for financial sector digital operational resilience
ISO 22301
International standard for business continuity management systems
Quick Verdict
DORA mandates ICT resilience for EU finance firms via risk management and testing, while ISO 22301 offers voluntary BCMS certification for global organizations. Companies adopt DORA for regulatory compliance, ISO 22301 for resilience and trust.
DORA
Regulation (EU) 2022/2554 Digital Operational Resilience Act
Key Features
- Mandates comprehensive ICT risk management frameworks
- Enforces 4-hour major incident reporting timelines
- Requires triennial threat-led penetration testing (TLPT)
- Oversees critical third-party ICT providers (CTPPs)
- Harmonizes resilience across 20 financial entity types
ISO 22301
ISO 22301:2019 Business continuity management systems Requirements
Key Features
- PDCA cycle for continual BCMS improvement
- Business Impact Analysis (BIA) for critical functions
- Risk assessment and recovery time objectives (RTO)
- Leadership commitment and policy requirements
- Integration with ISO 27001 via Annex SL
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
DORA Details
What It Is
Digital Operational Resilience Act (DORA), Regulation (EU) 2022/2554, is an EU-wide regulation enhancing financial sector resilience against ICT disruptions like cyberattacks and third-party failures. Applicable from January 17, 2025, it harmonizes rules for 20 entity types using a proportional, risk-based approach.
Key Components
- **ICT Risk ManagementFrameworks for risk identification, mitigation, annual reviews.
- **Incident Reporting4-hour initial, 72-hour intermediate notifications for major incidents.
- **Resilience TestingAnnual basic tests, triennial TLPT for critical entities.
- **Third-Party OversightDue diligence, monitoring of CTPPs by ESAs. Enforced via RTS/ITS, no formal certification but regulatory compliance.
Why Organizations Use It
Mandatory for EU financial entities to avoid 2% turnover fines. Mitigates systemic risks (74% cyber threat perception), boosts recovery, enables info sharing, enhances trust post-incidents like CrowdStrike.
Implementation Overview
Gap analyses, framework builds, testing programs, vendor contracts. Tailored by size; large firms adapt EBA rules, SMEs prioritize basics. Accelerated by 2024 RTS batches ahead of 2025 deadline.
ISO 22301 Details
What It Is
ISO 22301:2019 is the international standard titled Security and resilience — Business continuity management systems — Requirements. It establishes a certifiable framework for implementing, maintaining, and improving a Business Continuity Management System (BCMS) to protect against disruptions like cyberattacks, pandemics, and natural disasters. The standard uses a risk-based PDCA (Plan-Do-Check-Act) cycle for flexibility across organizations.
Key Components
The structure follows Annex SL with 10 clauses: Clauses 4-10 cover context, leadership, planning (including BIA and risk assessment), support, operations (recovery strategies), performance evaluation (audits, monitoring), and improvement. No fixed controls; tailored via RTO and MTPD. Certification lasts 3 years with annual surveillance audits.
Why Organizations Use It
It minimizes downtime, financial losses (e.g., 20% annual disruptions), ensures regulatory compliance (NIS Directive, NIST), boosts reputation, lowers insurance premiums, and provides competitive edges in procurement. Certified firms report enhanced resilience and stakeholder trust.
Implementation Overview
Start with gap analysis, BIA, policy development, training, testing exercises, and audits. Applicable to all sizes/sectors globally; 60-day plans or 6 months with tools possible, followed by 6-8 week certification.
Key Differences
| Aspect | DORA | ISO 22301 |
|---|---|---|
| Scope | Digital resilience in finance ICT | Business continuity for all disruptions |
| Industry | EU financial entities only | All industries worldwide |
| Nature | Mandatory EU regulation | Voluntary certification standard |
| Testing | Annual basic, triennial TLPT | BIA, regular exercises, audits |
| Penalties | Up to 2% global turnover fines | Loss of certification, no fines |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about DORA and ISO 22301
DORA FAQ
ISO 22301 FAQ
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