Enterprise Architecture Tools: Key to DORA Compliance for Banks

How Tool-Supported Enterprise Architecture Management Helps Fulfill DORA Requirements

The financial industry is undergoing a significant transformation: with the introduction of the Digital Operational Resilience Act (DORA), new standards for the digital operational resilience of financial institutions are being set. To meet these requirements, Enterprise Architecture Management (EAM) plays a crucial role. This article explains how EAM tools can help you act in accordance with DORA while also strengthening your institution's operational resilience.

Transparency Through Integration Into an Enterprise Architecture Management System

Based on our experience, Enterprise Architecture Management tools can provide key support for the systematic monitoring, management, and securing of ICT system. These tools offer a structured method for managing a company’s IT architecture, helping to minimize risks, meet compliance requirements, and enhance operational efficiency.

EAM tools enable a holistic view of a company's entire IT landscape, including all business processes, applications, data, and technologies. This transparency is essential to meet the complex requirements of DORA.

Supporting Key DORA Requirements with Enterprise Architecture Management

ICT Risk Management: EAM tools provide a comprehensive platform to identify, assess, and manage ICT risks. Banks must develop a clear strategy for handling ICT risks under DORA. EAM tools help operationalize this strategy by providing an integrated view of the dependencies between IT systems and business processes. This makes it easier to identify vulnerabilities and take appropriate risk mitigation measures.

Resilience Strategy: Besides technical requirements, DORA emphasizes the necessity of a comprehensive resilience strategy. EAM tools support the development and implementation of this strategy by offering a central platform for managing risk reduction measures, disaster recovery, and continuous monitoring of system availability. By integrating information from various areas of the company, EAM tools help create a resilient architecture that meets DORA requirements.

Asset & Architecture Management: EAM tools facilitate the documentation and management of the entire ICT architecture, a central requirement of DORA. Banks are required to systematically record and monitor their ICT assets and their relationships to business processes. EAM tools provide the necessary transparency and support the classification and management of ICT assets to ensure all relevant regulatory requirements are met.

Change Management: Changes to the IT infrastructure must be carefully planned and controlled to ensure the integrity and security of the systems. EAM tools offer extensive change management functions, ensuring that all changes are documented, assessed, and approved. These functions are crucial to comply with DORA's stringent requirements, which demand a robust change management system.

ICT Third-Party Management: DORA sets strict requirements for managing ICT third parties, i.e., external service providers that deliver critical ICT services. EAM tools assist banks in maintaining a comprehensive overview of all third-party relationships and systematically managing the risks arising from these relationships. They help monitor contracts, service level agreements (SLAs), and compliance with security requirements to ensure that resilience is not compromised by external partners.

Testing: One of DORA's central requirements is regular testing to assess digital resilience. This includes penetration tests, vulnerability analyses, and other test procedures to ensure that ICT systems are robust against cyber-attacks and other threats. EAM tools play a crucial role in coordinating and documenting these tests. They enable the creation of test plans, analysis of test results, and identification of necessary corrective measures. This helps ensure operational security and rectify vulnerabilities early on.

Incident Management: The ability to manage ICT-related incidents swiftly and effectively is a core component of DORA. EAM tools support banks in setting up a systematic incident management process from detection and classification to escalation and resolution. This ensures that banks are prepared for incidents and can manage them efficiently to comply with regulatory requirements and protect business operations.

Functionalities of an EAM Tool to Meet DORA Requirements

Visual Modeling and Documentation: EAM tools enable visual representation of the entire enterprise architecture. This modeling is essential to understand and document complex relationships and dependencies. Such transparency is not only crucial for complying with DORA requirements but also for the strategic management of ICT risks.

Automated Analyses and Reporting: The ability to automatically analyze data and generate reports is another essential feature of EAM tools. This function helps banks meet regulatory requirements by efficiently preparing regular audits and reports for supervisory authorities. This not only improves compliance but also strengthens internal governance.

Integration and Collaboration: EAM tools are designed to integrate various systems and foster collaboration between departments. This is particularly important as DORA requires banks to develop a coherent and integrated ICT risk management strategy. Using an EAM tool, banks can ensure that all relevant stakeholders have access to up-to-date and consistent information.

How Deloitte Can Help You Leverage Enterprise Architecture Management to Meet DORA Requirements

Implementing an EAM tool not only provides banks with a way to meet DORA requirements but also strengthens their digital resilience. These tools offer a comprehensive solution for managing ICT risks, documenting, change management, and regularly conducting resilience tests. Moreover, they facilitate managing third-party relationships and developing a robust resilience strategy. They are an indispensable tool for coping with the increasingly complex regulatory requirements in the financial industry.

Deloitte can help you maximize the benefits of your EAM tool and efficiently meet DORA requirements. Our experienced team assists you in developing tailored solutions that enhance your digital resilience and offer a clear competitive advantage.

Get in Touch with us!

Nitin Malhotra ([email protected] ) is driving IT Strategy & Transformation in Financial Services – Banking industry; and has more than 23 years of experience in the delivery of large, global & complex IT Transformation Programs

Michael Pietrek ([email protected] ) is a Manager at Deloitte with years of experience in IT Strategy and Transformation within Financial Services, specializing in Enterprise Architecture and guiding financial institutions through complex challenges.