Prescriptive guide to be DORA compliant using ServiceNow, and readiness assessment.

[Max Mirian]

To help a bank become DORA (Digital Operational Resilience Act) compliant using the ServiceNow platform, the following practical steps can be taken:

1. Conduct a Readiness Assessment:
   • Assess the bank's current state of compliance with DORA requirements.
   • Identify gaps and areas that need improvement.
   • Prioritize the requirements based on risk and business impact.
2. Define the DORA Governance Framework:
   • Use ServiceNow's Governance, Risk, and Compliance (GRC) module to establish a DORA governance framework.
   • Define roles, responsibilities, policies, and processes for DORA compliance.
   • Establish a risk management strategy and risk appetite for DORA compliance.
3. Implement DORA Risk and Control Management:
   • Leverage ServiceNow's Risk Management module to identify and assess DORA-related risks.
   • Define controls and control objectives to mitigate identified risks.
   • Automate control testing and monitoring using ServiceNow's Integrated Risk Management (IRM) capabilities.
4. Manage DORA-related Incidents and Vulnerabilities:
   • Integrate ServiceNow's Vulnerability Response and Security Incident Response modules.
   • Streamline the identification, assessment, and remediation of DORA-related vulnerabilities and incidents.
   • Automate incident response workflows and reporting.
5. Establish DORA Compliance Reporting:
   • Use ServiceNow's Performance Analytics and Reporting capabilities to generate DORA compliance reports.
   • Configure dashboards and scorecards to track DORA compliance metrics and key performance indicators (KPIs).
   • Automate the generation and distribution of compliance reports to relevant stakeholders.
6. Facilitate DORA Audits and Assessments:
   • Leverage ServiceNow's Audit Management module to plan, schedule, and conduct DORA audits and assessments.
   • Maintain audit trails and evidence repositories for DORA compliance.
   • Manage audit findings, remediation plans, and follow-up activities.
7. Integrate with Third-Party Tools and Services:
   • Utilize ServiceNow's Integration Hub to connect with third-party tools and services relevant to DORA compliance.
   • Integrate with security tools, IT service management (ITSM) tools, and other essential systems.
   • Automate data exchange and synchronization between systems.
8. Provide Training and Awareness:
   • Use ServiceNow's Learning and Development modules to create and deliver DORA compliance training.
   • Develop training materials, courses, and assessments for employees and stakeholders.
   • Track training completion and certification status.
9. Establish Continuous Improvement:
   • Regularly review and update the DORA compliance program based on changing regulations, industry best practices, and feedback.
   • Leverage ServiceNow's Continuous Improvement Management capabilities to identify and implement process improvements.
   • Foster a culture of continuous learning and optimization within the organization.

By following these steps and leveraging ServiceNow's comprehensive GRC capabilities, banks can effectively manage their DORA compliance journey, mitigate risks, and demonstrate operational resilience in the digital landscape.

To conduct a DORA (Digital Operational Resilience Act) readiness assessment for a bank using the ServiceNow platform, you can follow this checklist:

1. Understanding DORA Requirements:
   • Review the DORA regulation and its requirements in detail.
   • Identify the specific articles and sections relevant to the bank's operations.
   • Understand the timelines and deadlines for DORA compliance.
2. Current State Analysis:
   • Assess the bank's existing risk management and operational resilience practices.
   • Evaluate the current governance, policies, and processes related to DORA requirements.
   • Identify the systems, applications, and third-party services that are in scope for DORA compliance.
3. Gap Analysis:
   •  Compare the bank's current state with the DORA requirements.
   •  Identify gaps in policies, processes, controls, and technology.
   •  Prioritize the gaps based on risk, impact, and compliance deadlines.
4. Stakeholder Engagement:
   • Identify key stakeholders across the organization (e.g., risk, IT, operations, compliance, legal).
   • Conduct interviews and workshops to gather inputs and understand their concerns.
   • Ensure alignment and buy-in from stakeholders on the DORA compliance strategy.
5. Data Collection and Documentation:
   • Collect and document existing policies, procedures, and controls related to DORA requirements.
   • Gather information on current risk management practices, incident management, and business continuity plans.
   • Document the bank's IT landscape, including systems, applications, and third-party service providers.
6. Readiness Assessment in ServiceNow (Optional)
   • Leverage ServiceNow's GRC modules (e.g., Risk Management, Compliance Management) to capture and assess DORA requirements.
   • Map the bank's current state to the DORA requirements within ServiceNow.
   • Identify and document gaps, risks, and areas for improvement using ServiceNow.
7. Readiness Report and Roadmap:
   • Consolidate the findings from the readiness assessment into a comprehensive report.
   • Prioritize and categorize the gaps and recommendations based on risk and compliance impact.
   • Develop a roadmap and action plan for addressing the identified gaps and achieving DORA compliance.
   • Present the readiness assessment report and roadmap to relevant stakeholders and executive leadership.
8. Continuous Monitoring and Improvement:
   • Establish mechanisms within ServiceNow for continuous monitoring and reporting of DORA compliance status.
   • Define processes for regular review and update of the DORA compliance program.
   • Encourage a culture of continuous improvement and adaptation to evolving DORA requirements and industry best practices.

This checklist provides a structured approach to conducting a DORA readiness assessment for a bank using the ServiceNow platform. It covers understanding the requirements, analyzing the current state, identifying gaps, engaging stakeholders, documenting findings, leveraging ServiceNow's GRC capabilities, developing a roadmap, and establishing continuous monitoring and improvement processes.

[Ravinder1]

@Max Mirian Great Article and insights provided here, Quick check - Do we have any automation/plugin to perform the "ICT asset management policy - Article 4) " to check all the assets within servicenow which are under the review scope and give recommendations and compliance score ? 

[externkhaja]

Any training added to SNOW University