The impact of the Digital Operational Resilience Act (DORA)

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Digital Operational Resilience Act (DORA)

Financial Services Technology Panel Looks at the impact of the Digital  Operational Resilience Act (DORA) on the industry

 

The Worshipful Company of Information Technologists in conjunction with ISITC Europe C.I.C. explores the implications of the Digital Operational Resilience Act on Financial Services and beyond.

 

On 24 September 2020, the European Commission published its draft Digital Operational Resilience Act (DORA). The DORA aims to establish a much clearer foundation for EU financial regulators and supervisors to be able to expand their focus from ensuring firms remain financially resilient to also making sure they are able to maintain resilient operations through a severe operational disruption. This will therefore impact not only Financial Services but also their service providers.

Just prior to lockdown the UK’s Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) published Consultation Paper 21 proposing measures to improve resilience of the UK’s financial sector. Similar yet slightly different to DORA, the UK’s authorities aim to bolster operational resilience and the ability of firms and the financial sector more generally to prevent, adapt, respond to, recover and learn from operational disruptions. So, what are the implications of this new regulation on the Financial Services industry and its Service Providers?

We have brought together an expert panel to help us begin to understand the changes facing our organisations as new regulations in Europe, in the UK and globally are rolled out.

Rob Scott – Global Head of Market Infrastructure, Participants and Services Commerzbank A.G. – Rob has over 25 years’ experience in the running and acquisition of front-office businesses lines and in the commercialisation of global core operations of Investment banks, broker dealers and investor service business lines, including Bank of America, Cantor Fitzgerald/BGC, Citi and Deutsche Bank. He was instrumental in the creation of the first major European outsourcing investment banking global back office whilst at Accenture (Accenture Post Trade Services).

Alasdair Hodge – Chairman of the ISITC Business Resilience Group, Senior Architect Cloudsoft – Alasdair is a solutions architect with 25 years’ experience. An authority in cloud, software applications and automation across all major cloud platforms, he has been engaged in the design and optimisation of cloud services in banking and finance and other service-based sectors such as telecoms, electronic design and supply-chain automation for over 12 years.

Sabia Sultan – Senior F.S. Programme Delivery Manager – “Sabia is a senior professional technology practitioner who has worked in financial services leading the delivery of large IT infrastructure transformation programmes over the past five years. With a wide range of experience including large-scale organisational change, IT infrastructure and application migration, outsourcing and third-party management in high availability market critical services .Sabia has been at the forefront of ensuring that operational resilience is delivered as an embedded part of core platforms. She has worked on high-profile projects, programmes and business initiatives with organisations such as Barclays, Deutsche Bank, the London Metal Exchange and the International Stock Exchange Group. A Freeman of the Worshipful Company of Information Technologists Sabia has a passion for building cross functional teams and engaging with business stakeholders to ensure that IT delivers services that meet both internal and external requirements.”

Richard Ellis, Senior Associate Charles Russell Speechlys – Richard Ellis advises financial services firms on regulatory matters. Richard is a Senior Associate in the firm’s Broking, Trading and Markets practice. He advises on the nature and scope of UK financial services regulation. He also regularly assists clients in the FCA authorisation process. Richard’s clients include exchanges, multilateral trading facilities, organised trading facilities, broker crossing networks, investment banks, brokers, dealers, proprietary trading firms and investment managers.

To Book please Register here

Tickets  per head are £20 (inc. VAT). This includes a donation to the WCIT Charity and refreshments.

Date: Tuesday, 16 November 2021

Time:18:00 – 21:00 GMT (5.30pm for 6.00pm start – join us and our expert panel as we explore the impact of the DORA and for a drinks and nibbles reception following our debate, where you can quiz our speakers further.)

Location: The Worshipful Company of Information Technologists Livery Hall 39A Bartholomew Close, London EC1A 7JN

 

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