nNovation LLP’s Post

In an era of rapid digital transformation, the importance of robust Governance, Risk management and Compliance(GRC) frameworks is more critical than ever. As businesses and governments face rising threats from cybercrime and financial fraud, staying ahead of these challenges is crucial for maintaining economic stability and public trust. Read more here👇👇 https://lnkd.in/djBt8cCd

The Digital Operational Resilience Act (DORA) is poised to have a more profound impact on financial institutions than they may anticipate. A common mistake is treating DORA's five pillars as a linear, step-by-step checklist, which can render their efforts ineffective. Two critical areas will significantly affect financial entities: third-party risk management and reporting. These aspects are where DORA focuses most of its attention, addressing gaps in current frameworks. Financial institutions must start addressing these areas now to ensure timely compliance and begin the process of reaching the regulatory deadline. #informationsecurity #digitaloperationalresilienceact #DORA #cybersecurity #regulatorycompliance

Are you ready to stay ahead of the key trends impacting the financial industry in 2024? ViClarity - US’s annual governance, risk, and compliance (GRC) trends report is here to help financial organizations and their risk and compliance leaders focus on what matters. - Regulator Focus on Third-Party Risks & Consumer Financial Protection - Testing Plans for Continuously Changing Cybersecurity Threat - The Use of AI in GRC - The Pursuit of a Single Source of Truth Stay informed: https://lnkd.in/gmaWdXyu #GRC #RiskManagement #Compliance

🚨 The Impact of DORA on Financial Institutions 🚨 DORA is reshaping the landscape for banks, financial institutions, and insurers by addressing critical gaps in cyber security and operational resilience. 🔑 Key Areas of Focus: ▶ Third-Party Risk Management: Institutions must ensure their entire supply chain is DORA-compliant—a complex task that may extend several layers deep. ▶ Reporting: Continuous monitoring and swift reporting are crucial. If your processes aren’t automated, start working on it now. With just 5 months until the January 2025 deadline, don’t wait. Begin your gap analysis, assemble your team, and create a comprehensive plan. #DigitalResilience #FinancialCompliance #DORA #CyberSecurity #DORARegulation #ContinuousMonitoring #ThirdPartyRisk #ContinuousCompliance #Compliance #RiskManagement

DORA may impact financial institutions more than expected. Explore what's required and begin your compliance journey now to ensure you're ready for the January 2025 deadline... #DORACompliance #FinancialRegulation #OperationalResilience #RiskManagement #ContinuousMonitoring

DORA and THIRD PARTIES 🔻🔻🔻 In today's digital landscape, #TPRM is crucial for protecting organizations from potential 💻 vulnerabilities. 📍 The #DORA emphasizes the importance of strong risk management, particularly in third-party relationships. So, which #GRC vendor is the best fit for TPRM aligned with DORA? ⚖️ 🔻🔻🔻 Regardless of whether you're: 🟢 financial institution 🟢 tech giant, or 🟢 small business choosing the right GRC partner can greatly improve your operational resilience. Together with Jana Štubňová we evaluated 6️⃣ top vendors for each of the major areas outlined in the DORA framework. Are you interested in learning more about how we assessed GRC vendors for other areas? -> 🔔 If you need more information about DORA itself, we have skilled professionals on our team, such as Jakub Ptáčník and Jakub Ponec who are ready to assist you. Jakub Höll, Lucia Roncakova

The new EU has released new regulations covered by the Digital Operational Resilience Act (DORA), with the aim to strengthen the Cybersecurity and operational resilience of Financial Institutions... If this is relevant to you and you don't know where to start, 6clicks has put together a ready to use DORA Risk Libary to get you started... #CISO #GRC #Compliance #Finance #DORA #EU

As new regulations on #DataPrivacy and #DataRights continue to emerge, the need for effective compliance strategies becomes increasingly critical. Join us on June 18 at 12:00pm ET, as Gary Brickhouse, CISO at GuidePoint Security, will be joined by our panel of Governance, Risk & Compliance (#GRC) experts for a live discussion of successful compliance programs, governance gaps, upcoming regulatory changes and more. Register today. https://okt.to/S2WMiE

A proposed rule from the Federal Deposit Insurance Corporation (FDIC) will establish new regulatory standards and increase the focus of #cybersecurity risk management and governance while bringing an expectation of faster response times and real-time remediation of deficiencies. Read the blog, Cybersecurity Risk 2024: Keeping Pace with Evolving Standards to learn more: https://lnkd.in/gXtNeGti #financialservices #cyberriskmanagement #riskmanagement #banks #creditunions #compliance #governance

With all this #Governance change in #cybersecurity, how are you really doing with "doing the right things right"? Do you have software to track things or old school with your spreadsheet? Interested to see as things change, if #banks and #creditunions change with it. #financialservices #riskmanagement #compliance