MBA Announces Webinar on DORA Compliance

The Malta Bankers' Association (MBA) is set to host a crucial webinar titled “DORA – 4 Months to Go.” Scheduled for September 17, this event marks exactly four months before the European Union’s new regulation, the Digital Operational Resilience Act (DORA), takes effect on January 17, 2025. The webinar is designed to guide stakeholders through the intricacies of DORA, offering a timely update as the implementation date nears.

Purpose of the Webinar

The primary objective of the webinar is to equip stakeholders with the knowledge and tools required for effective compliance with DORA. While many organizations are already advancing their preparations, this session aims to provide critical insights and practical advice. Participants will have the opportunity to explore the regulation’s demands and how to meet them effectively.

Key Topics Covered

The webinar will delve into several important areas:

Origins and Objectives of DORA

Understanding the foundation and goals of DORA is crucial for effective compliance. The session will cover the Act's background, its purpose in enhancing digital operational resilience across the EU, and its implications for financial institutions and ICT service providers.

Milestones and Deadlines

With the enforcement date approaching, it is vital to be aware of key milestones and deadlines. This segment will outline the timeline of significant events and deadlines leading up to and beyond January 17, 2025.

Risks and Penalties

Non-compliance with DORA can result in severe consequences. The webinar will detail the potential risks and penalties associated with failing to meet the regulation's requirements, helping organizations understand the importance of adherence.

Core Requirements Under DORA

A comprehensive overview of DORA’s core requirements will be provided. This will include the regulation’s key provisions, the expectations for financial entities, and the necessary steps for compliance.

Leadership Responsibilities

DORA places specific responsibilities on leadership roles within organizations. This part of the webinar will address the expectations for senior management, board members, and executives, including their roles in ensuring compliance and fostering resilience.

Overcoming Common Obstacles

The implementation of DORA may present various challenges. This segment will explore common obstacles organizations might face and offer strategies for overcoming them.

Expert Advice

The webinar will feature expert advice from distinguished specialists in cyber security and risk management. Attendees will gain insights from Shreeji Doshi and William Rimington from Thomas Murray, who will provide practical tips and strategies for ensuring compliance and enhancing operational resilience.

Interactive Q&A Session

A key feature of the webinar is an interactive Q&A session, where participants can pose specific questions and receive tailored responses from the experts. This segment is designed to address individual concerns and provide additional clarity on complex issues.

Statements from the MBA

Karol Gabarretta, General Secretary of the MBA, emphasized the significance of the webinar in light of the upcoming regulatory changes. “We are at a critical juncture where ensuring the financial sector's resilience is more important than ever,” said Gabarretta. “As an Association, we believe it is essential to provide ongoing support to our members throughout the lifecycle of this regulation. This webinar is part of our commitment to assist the banking community and its stakeholders in understanding and implementing the requirements of DORA effectively.”

Collaborators and Experts

The MBA has organized this webinar in collaboration with Diligex and Thomas Murray. Shreeji Doshi and William Rimington, renowned for their expertise in cyber security and risk management, will lead the discussions. Their involvement promises to offer valuable perspectives and guidance on navigating the complexities of DORA.

Registration and Participation

Registration for the webinar is now open. The event is accessible to all financial entities, ICT service providers, and other stakeholders within the financial ecosystem. Interested parties are encouraged to register early to secure their participation in this critical discussion.

For additional details and to register, please visit MBA Diligex Thomas Murray Webinar.

Conclusion

In conclusion, the upcoming MBA webinar on DORA presents a crucial opportunity for stakeholders to gain the necessary knowledge and insights to ensure compliance with the new EU regulation. With expert guidance and a detailed agenda, the event is poised to help financial entities and ICT service providers navigate the complexities of DORA effectively. As the January 2025 deadline approaches, this webinar offers timely and essential support to strengthen digital operational resilience across the financial sector.

FAQs

What is the focus of the MBA webinar?
The MBA webinar focuses on preparing stakeholders for the implementation of the Digital Operational Resilience Act (DORA), which takes effect on January 17, 2025. It provides guidance on regulatory expectations and practical steps for compliance.

Who are the experts leading the webinar?
The webinar will be led by Shreeji Doshi and William Rimington, specialists in cyber security and risk management from Thomas Murray.

When is the webinar scheduled to take place?
The webinar is scheduled for September 17, exactly four months before DORA comes into force.

What topics will be covered during the webinar?
The webinar will cover the origins and objectives of DORA, key milestones and deadlines, risks and penalties, core requirements, leadership responsibilities, common obstacles, expert advice, and an interactive Q&A session.

How can I register for the webinar?
Registration is open to all interested parties. You can register by visiting the MBA’s official webinar page at MBA Diligex Thomas Murray Webinar.

What is DORA and why is it important?
The Digital Operational Resilience Act (DORA) is a new EU regulation aimed at enhancing the digital operational resilience of financial institutions and ICT service providers. It is important because it sets out requirements for managing digital risks and ensuring operational continuity.

What are the potential risks of non-compliance with DORA?
Non-compliance with DORA can result in significant penalties, including fines and reputational damage. It is essential for organizations to adhere to the regulation to avoid these risks.

Who should attend the webinar?
The webinar is intended for financial entities, ICT service providers, and other stakeholders within the financial ecosystem who need to understand and comply with DORA.

What are some common obstacles in DORA implementation?
Common obstacles include understanding complex regulatory requirements, integrating new processes into existing systems, and ensuring leadership engagement. The webinar will address these challenges and offer solutions.

Will there be an opportunity to ask questions during the webinar?
Yes, the webinar will feature an interactive Q&A session where participants can ask specific questions and receive tailored answers from the experts.