With Dora, operational resilience is getting more attention – from a low level

VIDEO | It was meant to be a broader panel, but few speaker candidates could relate to the topic, and many pros are not yet familiar with the incoming Digital Operational Resilience Act (DORA). Euroclear Finland’s Kati Honkajuuri-Kokkonen and ERI’s Alan Goodrich are, though, and on Tuesday, they shared their insights with the audience of PostTrade 360° Helsinki.

Kati Honkajuuri-Kokkonen is Chief Administration Officer with Euroclear Finland, while Alan Goodrich is Regional Sales Manager for the Benelux, Nordics, Baltics & SEE, with banking system provider ERI.

Largely, the resilience measures after the financial crisis around 2008 were focused on the financial numbers. With many such achievements now in place, and with various forms of threats on the rise, the spotlight is now panning towards the systems for information and communication, to make sure they don’t risk breaking down.

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When incidents happen, organisations need “muscles” to fix things – and resilience preparation can be seen as training of those muscles, suggested Kati Honkajuuri-Kokkonen. The approach differs from the idea of trying to predict and counter precise features of the next crisis. Still, the unpredictability that has manifested itself through the world in recent year have contributed to growing awareness of the need for preparations. The EU’s Digital Operational Resilience Act (DORA), currently under implementation at some 20,000 companies across the EU, is just one concrete example of how this field is growing on us as a very practical one.