How Redjack Addresses Key Aspects of DORA
The Digital Operational Resilience Act (DORA) (European Union (EU) Regulation 2022/2554) is the European Commission's effort to address the existing patchwork of digital operational resilience on an EU-wide level. DORA entered into force on January 16, 2023, and financial entities subject to the regulation will be expected to comply with DORA requirements by January 17, 2025. The Redjack cyber resilience platform addresses key aspects of DORA, playing a crucial role in your compliance efforts.
This blog is not an exhaustive description of every DORA requirement. You can find the complete text of DORA available here.
The DORA framework is built around five main pillars:
Risk management
Incident management, classification, and reporting
Digital operational resilience testing
Third-party risk management
Information sharing
The Redjack cyber resilience platform helps you address requirements found in four of these five pillars.
How Redjack aids risk management
At a high level, the contents of this pillar of DORA can be loosely summarized as:
Governance and organization
Risk management framework
Identification
Protection and prevention
Detection
Response and recovery
Learning and evolving
Communication
The Redjack cyber resilience platform helps you meet several of the standards outlined in the Identification portion of this pillar.
Article 8: Identification
Maintain relevant inventories and update them periodically (Paragraph 6)
The Redjack cyber resilience platform creates a comprehensive inventory of all digital assets and resources within your organization, including cloud, on-premises, and container-based assets. It does this by using software sensors in your network to collect communications data. This objective data is used to create a comprehensive map of your IT infrastructure, including uncovering assets that may not be included in existing records. It gives you the visibility into your environment that you need to identify, evaluate, and prioritize potential risks to your organization.
The Redjack platform continuously monitors your environment and detects changes in your IT technology, updating the asset inventory as it goes along. This ongoing process ensures a dynamic and up-to-date understanding of your organization's security posture.
Identify, classify, and adequately document business functions and the assets supporting those functions (Paragraph 1)
Critical business functions (CBFs) are the core activities that keep an organization running smoothly and generate revenue. In a financial institution, critical functions may include transaction processing, risk management, and regulatory compliance. The Redjack cyber resilience platform uses communications data to identify which assets in your environment are connected to your critical business functions. Beyond the assets you were already aware of, the Redjack platform also identifies connected assets that you may not have been aware of before.
Identify all critical assets and map the links and interdependencies between the different assets. (Paragraph 4)
The Redjack cyber resilience platform elevates your asset inventory from a passive data store to an active insight engine. It uses data science techniques like pattern recognition, anomaly detection, and predictive analytics to identify and assess the relationships and interdependencies between critical business functions and assets within your organization's environment. This allows you to see how your IT ecosystem functions, and where your biggest risks are.
The Redjack platform also assigns assets a criticality score (a numerical value assigned based on the asset’s importance to your organization's operations and objectives). The score reflects the potential impact of a disruption to the asset or function on the organization's overall performance, revenue, reputation, or compliance. Assets with higher criticality scores typically require greater attention and resources for protection, mitigation, and recovery efforts.
These insights help you optimize your resource utilization and planning and play a crucial role in threat modeling, risk assessment, and the development of effective security strategies.
Identify interconnections with third-party service providers that provide services that support critical functions. (Paragraph 5)
The Redjack cyber resilience platform gives you complete visibility into the true extent of your environment, including third-party vendors and contractors whose systems are communicating with assets in your environment. This evidence-based list of external vendors allows you to accurately understand your third-party dependencies and measure your third-party risk.
Article 11: Response and recovery
Put in place, maintain, and periodically test business continuity plans
The Redjack cyber resilience platform gives you the complete visibility into your IT infrastructure that you need to create an effective BCDR plan and perform successful testing. In addition to creating an asset inventory, it can identify which assets are required for your critical business functions to work properly and understand how your assets are interconnected. This information is vital to understanding which parts of your environment are most critical. The Redjack platform gives you the information you need to build an effective BCDR plan and be truly resilient.
Conduct a business impact analysis (BIA) as part of the overall business continuity policy
The Redjack cyber resilience platform plays a pivotal role in business impact analysis by creating a comprehensive asset inventory that identifies your assets and the dependencies between them and between critical business functions. By accurately cataloging and prioritizing assets, you can identify critical assets supporting key business functions and more accurately assess the financial and operational impacts of a disruption. Moreover, it facilitates the identification of dependencies between assets, enabling the development of accurate and resilient continuity plans. Ultimately, an accurate and complete asset inventory forms the foundation of effective business impact analysis, ensuring that your organization can build realistic recovery plans and adapt to evolving infrastructural changes.
How Redjack aids incident management, classification, and reporting
The Redjack cyber resilience platform helps enhance incident response capabilities by providing complete visibility into your IT environment. In the event of a cybersecurity incident, its comprehensive asset inventory provides a foundation for incident response teams to quickly identify affected assets and take appropriate action to contain and mitigate the incident. In addition, having a map of your asset dependencies makes it easier to identify where an intrusion may have spread to. After an incident, it supports comprehensive forensic analysis so that lessons learned can be documented and incorporated into improving procedures and policies.
How Redjack aids digital operational resilience testing
The Redjack cyber resilience platform provides you with a comprehensive understanding of your assets. Using this, you can identify critical components and dependencies, allowing you to design realistic testing scenarios that more accurately assess the impact of potential disruptions on your operations. This proactive testing helps enhance operational resilience by identifying vulnerabilities, improving response capabilities, and ensuring the continuity of essential functions in the face of various types of disruptions.
How Redjack aids third-party risk management
As outlined under Article 8 above, the Redjack cyber resilience platform uses communications data to provide you with a comprehensive view of the assets in your environment. This can include third-party vendors and contractors whose systems communicate with assets in your environment. This allows you to go deeper than a survey of your business units may be able to go and gives you solid evidence as to exactly what is connected to your environment. This allows you to accurately understand your third-party dependencies and measure your third-party risk.
Achieve Cyber Resilience Through Infrastructure Visibility
The Redjack cyber resilience platform addresses key DORA requirements, particularly focusing on risk management, incident management, digital operational resilience testing, and third-party risk management. It not only gives you complete visibility into your connected infrastructure but also maps how your assets are connected to each other and to your critical business functions. Furthermore, Redjack helps you identify how resilient your assets are through asset resiliency scoring. This approach helps you meet DORA standards effectively, ensuring operational resilience in the face of cyber threats and disruptions.
