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Gepostet am 29. April 2021 von  Norman Nehls, Partner bei Severn Consultancy

Event Report: DORA - Leveraging regulation to mitigate the risks of digital transformation

As a result of the pandemic, financial services institutions rely more than ever on their IT-infrastructure to provide services to employees and customers. As part of an European risk event presented by our partner ServiceNow, we interviewed David Vorih, CIO at Siemens Financial Services, presented the approach his company takes to mitigate the accompanying risks of digital transformation. Together with Norman Nehls from Severn Consultancy, we discussed the expectations for the European Commission’s upcoming DORA (Digital Operational Resilience Act) and how it could help a financial institution improve operations, in financial services as well as across the entire Siemens group.

 

In this discussion we shared our thoughts on:

  1. What are the key challenges for a global financial institution?
  2. How to mitigate the accompanying risks of digital transformation?
  3. What are typical pitfalls or success factors?
  4. Which steps are important to establish a resilient organization?

The Digital Operational Resilience Act, provides a comprehensive regulatory framework at the European level that includes regulations on digital operational resilience for all supervised financial institutions. As a leading management consultancy Severn - and our clients - appreciate this regulation to improve the necessary security measures to prevent or mitigate IT-related threats and it has set up the foundations for a sustainable and reliable compliance readiness.

These experiences are not only relevant for IT responsibles within financial institutions.  Moreover, compliance officers, continuity managers, data protection officers, security managers and last but not least (senior) executives should benefit from these lessons we have learned.  In Addition, what are the three unique hints from an CIO perspective? … Enjoy a coffee and join the Interview here.

If you have any questions about successful digital transformation, please don’t hesitate to contact our Partner Norman Nehls [Norman.nehls(at)severn(dot)de].

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