What It Is

Regulation (EU) 2022/2554, the Digital Operational Resilience Act (DORA), is an EU regulation bolstering ICT resilience in the financial sector against disruptions like cyberattacks and failures. Applicable from January 17, 2025, it covers 20 entity types and critical third-party providers (CTPPs), using a proportional, risk-based approach for harmonized, proactive strategies.

Key Components

• **ICT Risk ManagementFrameworks for identifying, mitigating risks with annual reviews.
• **Incident Reporting4-hour notifications, 72-hour updates for major events.
• **Resilience TestingAnnual scans, triennial TLPT.
• **Third-Party OversightDue diligence, ESA supervision of CTPPs. No certification; compliance enforced by authorities.

Why Organizations Use It

Mandatory for EU financial entities to avoid 2% turnover fines. Enhances resilience amid 74% ransomware rates, ensures continuity, builds trust, and unifies cross-border compliance, spurring cybersecurity investments.

Implementation Overview

Conduct gap analyses per RTS, develop frameworks, run tests, manage vendors. Proportional for size; targets ~22,000 entities. Preparation since 2023 involves simulations, audits for 2025 deadline.

What It Is

NIST SP 800-53 Rev. 5, titled Security and Privacy Controls for Information Systems and Organizations, is a control catalog framework from the U.S. National Institute of Standards and Technology. Its primary purpose is to provide flexible, customizable safeguards to protect confidentiality, integrity, availability (CIA) and manage privacy risks across diverse threats. It employs a risk-based, outcome-oriented approach integrated with the Risk Management Framework (RMF).

Key Components

• 20 control families (e.g., AC Access Control, SR Supply Chain Risk Management) with over 1,100 base controls and enhancements.
• Baselines in SP 800-53B: Low, Moderate, High impact levels plus a privacy baseline.
• Built on FIPS 199 categorization; supports tailoring, overlays, and OSCAL machine-readable formats.
• Compliance via assessment procedures in SP 800-53A; no formal certification but RMF authorization.

Why Organizations Use It

• Meets FISMA/OMB A-130 mandates for federal agencies/contractors.
• Enhances risk management, operational resilience, and supply chain security.
• Provides competitive edge via FedRAMP, reciprocity, and cross-framework mappings (CSF, ISO 27001).
• Builds stakeholder trust through auditable, evidence-driven controls.

Implementation Overview

• Follow **RMF stepsCategorize, Select/Tailor (baselines), Implement, Assess, Authorize, Monitor.
• Phased rollout with automation (OSCAL, tools); documentation in security plans.
• Applies to all sizes/industries processing federal data or seeking robust programs; U.S.-focused but globally adopted.
• Requires independent assessments, continuous monitoring; no central certification.