Further harmonisation of ICT risk management tools, methods, processes and policies
TL;DRThis article from the Digital Operations Resilience Act in the EU explains the process for the European Supervisory Authorities (ESAs) and the Joint Committee, in collaboration with the ENISA, to develop common draft regulatory technical standards in connection with a financial entity's ICT security policies, procedures, protocols and tools, access management rights, incident detection and response processes, ICT business continuity policies, and ICT response and recovery plans. By 17 January 2024, the ESAs must submit these draft regulatory technical standards to the Commission. The Commission will then use the Articles 10 to 14 of Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010 to supplement this Regulation and adopt the regulatory technical standards.
The ESAsEuropean Supervisory Authority shall, through the Joint Committeethe committee referred to in Article 54 of Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010, in consultation with the European Union Agency on Cybersecurity (ENISA), develop common draft regulatory technical standards in order to:
specify further elements to be included in the ICT security policies, procedures, protocols and tools referred to in Article 9(2), with a view to ensuring the security of networks, enable adequate safeguards against intrusions and data misuse, preserve the availability, authenticity, integrity and confidentiality of data, including cryptographic techniques, and guarantee an accurate and prompt data transmission without major disruptions and undue delays;
develop further components of the controls of access management rights referred to in Article 9(4), point (c), and associated human resource policy specifying access rights, procedures for granting and revoking rights, monitoring anomalous behaviour in relation to ICT riskany reasonably identifiable circumstance in relation to the use of network and information systems which, if materialised, may compromise the security of the network and information systems, of any technology dependent tool or process, of operations and processes, or of the provision of services by producing adverse effects in the digital or physical environment through appropriate indicators, including for network use patterns, hours, IT activity and unknown devices;
develop further the mechanisms specified in Article 10(1) enabling a prompt detection of anomalous activities and the criteria set out in Article 10(2) triggering ICT-related incidenta single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity detection and response processes;
specify further the components of the ICT business continuity policy referred to in Article 11(1);
specify further the testing of ICT business continuity plans referred to in Article 11(6) to ensure that such testing duly takes into account scenarios in which the quality of the provision of a critical or important functiona function the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law deteriorates to an unacceptable level or fails, and duly considers the potential impact of the insolvency, or other failures, of any relevant ICT third-party service provideran undertaking providing ICT services and, where relevant, the political risks in the respective providers’ jurisdictions;
specify further the components of the ICT response and recovery plans referred to in Article 11(3);
specifying further the content and format of the report on the review of the ICT riskany reasonably identifiable circumstance in relation to the use of network and information systems which, if materialised, may compromise the security of the network and information systems, of any technology dependent tool or process, of operations and processes, or of the provision of services by producing adverse effects in the digital or physical environment management framework referred to in Article 6(5);
When developing those draft regulatory technical standards, the ESAsEuropean Supervisory Authority shall take into account the size and the overall risk profile of the financial entity, and the nature, scale and complexity of its services, activities and operations, while duly taking into consideration any specific feature arising from the distinct nature of activities across different financial services sectors.
The ESAsEuropean Supervisory Authority shall submit those draft regulatory technical standards to the Commission by 17 January 2024.
Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010.