DORA Compliance in 2025: What Financial Institutions Need to Know About Their Atlassian SaaS Estate

The Clock Has Struck: DORA Is Now in Effect

The Digital Operational Resilience Act (DORA) has reached its compliance deadline of January 17, 2025. For financial institutions operating in the EU, this marks a crucial turning point in how they manage their digital resilience.

Critical Timeline

• January 16, 2023: DORA entered into force
• January 17, 2024: First batch of technical standards published
• July 17, 2024: Second batch of technical standards released
• January 17, 2025: Mandatory compliance deadline

Who Must Comply?

• All EU financial institutions (banks, insurers, investment firms, leasing companies etc..)
• Critical ICT service providers
• Third-party suppliers providing essential services

Understanding the Penalties: The Cost of Non-Compliance

DORA brings substantial penalties for non-compliance:

For Financial Institutions

• Fines up to 2% of total annual worldwide turnover
• Individual penalties up to €1,000,000

For Critical Third-Party ICT Providers

• Organizational fines up to €5,000,000
• Individual penalties up to €500,000

Additional Consequences

• License restrictions
• Public notices of violations
• Potential criminal penalties
• Reputational damage

Core Requirements

1. ICT Risk Management Framework: A robust framework for identifying, assessing, and mitigating ICT risks.
2. Incident Response: A comprehensive incident response plan with mandatory reporting procedures.
3. Security Testing: Regular security testing, including mandatory Threat-Led Penetration Tests (TLPTs) every three years.
4. Third-Party Risk Management: Robust assessment and management of risks associated with third-party service providers.
5. Threat Intelligence Sharing: Participation in threat intelligence sharing mechanisms.

Spotlight: Managing Atlassian SaaS Tools Under DORA

Financial institutions using Atlassian tools like Confluence must implement specific controls to comply with DORA's third-party risk management requirements. Here's how to approach this:

Risk Assessment Framework for Atlassian Services

1. Critical Service Classification
   • Evaluate whether Confluence, Jira and other Atlassian tools store critical business information
   • Determine if these tools support essential business processes
   • Assess the impact of service disruption on operations
2. Specific Control Requirements
   • Access Management
     • Implement strict role-based access control
     • Regular access reviews and attestation
     • Multi-factor authentication for all users
     • Integration with enterprise identity providers
   • Data Protection
     • Regular backup of critical Confluence spaces
     • Data encryption requirements for sensitive information
     • Data residency verification for EU compliance
     • Clear data recovery and business continuity procedures
   • Monitoring and Incident Response
     • Real-time monitoring of Atlassian service status
     • Integration with security information and event management (SIEM) systems
     • Incident response procedures specific to Atlassian service disruptions
   • Configuration Change Management
     • Establish a change management process for all modifications to Atlassian configurations.
     • Implement change control boards to review and approve all changes.
     • Thoroughly document all changes, including the rationale, impact assessment, and testing results.
     • Utilize audit logs to track all configuration changes.
     • Conduct regular security configuration reviews
3. Contractual Safeguards
   • Review and enhance Atlassian Enterprise agreements
   • Ensure service level agreements (SLAs) meet DORA requirements
   • Establish clear incident reporting mechanisms
   • Define operational resilience requirements
4. Continuous Monitoring
   • Track Atlassian's security updates
   • Monitor service availability and performance
   • Regular assessment of security controls
   • Documentation of all security incidents

How Revyz Solves DORA Compliance Challenges

Revyz provides comprehensive solutions specifically designed for financial institutions using Atlassian tools:

1. Automated Backup and Recovery

• Granular recovery of Jira and Confluence data
• Point-in-time restoration capabilities
• Data residency compliance

2. Enhanced Security Features

• Malware detection for attachments
• Configuration change monitoring
• Comprehensive audit trails

3. Extended Compliance Capabilities

• Audit trail storage beyond Atlassian's 180-day limit
• Detailed change management tracking
• Compliance reporting tools

4. Configuration Control

• Change management policy enforcement
• Configuration monitoring
• Comprehensive audit trails

Actionable Steps for Compliance

Immediate Actions

1. Conduct gap analysis
2. Review current ICT framework
3. Update incident response processes
4. Implement Revyz solutions for Atlassian tools

Ongoing Management

1. Monitor compliance continuously
2. Review security controls regularly
3. Document all incidents
4. Maintain audit trails

Conclusion

With DORA's compliance deadline now passed, financial institutions must ensure their systems, including Atlassian tools, meet all requirements. Revyz provides a comprehensive solution to help organizations achieve and maintain compliance while avoiding severe penalties.

The combination of robust compliance features, automated backup solutions, and comprehensive security controls makes Revyz an essential tool for financial institutions seeking to maintain DORA compliance while using Atlassian products.

Remember: The cost of non-compliance far exceeds the investment in proper tools and processes. With Revyz, organizations can confidently meet DORA requirements while maintaining efficient operations.