By Gatekeeper
5
22 ratings
The podcast currently has 30 episodes available.
We dive deep into the Digital Operational Resilience Act with Liam Mckenna, Partner at Mazars and Austin Kelly from Mazars. If you would like to work with Liam and Austin, please contact them here.
Book a call with a Vendor and Contract Management Expert here - https://www.gatekeeperhq.com/book-gk-demo-step-1
GATEKEEPER'S GUIDE TO VENDOR LIFECYCLE MANAGEMENT Actionable checklists, tips and best practices. Download the ebook now for FREE: https://www.gatekeeperhq.com/free-vendor-management-ebook
Contact Liam from Mazars here: https://www.mazars.com/Users/our-team/liam-mckenna
We dive deep into the Digital Operational Resilience Act with Liam Mckenna and Austin Kelly from Mazars. If you would like to work with Liam and Austin, please reach out to them here.
DORA (Digital Operational Resilience Act) is a new regulation that aims to address the increased digital risk organisations face. It focuses on five key pillars, including ICT risk management, incident management and reporting, digital operation resilience testing, and third-party risk. Non-compliance with DORA can damage an organisation's relationship with regulators and lead to remediation programs and penalties. Organisations need to start preparing for DORA compliance by scoping the project, conducting a gap analysis, developing a roadmap, and implementing mitigation actions. Key challenges include weaknesses in IT risk management, lack of asset management, and the need for standardised contract clauses. Organisations should take DORA seriously and not just treat it as a compliance project. They should invest in ongoing risk assessments, engage with third parties, and commit to implementing robust controls.
Key Takeaways
-DORA is a new regulation that addresses the increased digital risk faced by organisations
-It focuses on five key pillars: ICT risk management, incident management and reporting, digital operation resilience testing, and third-party risk
-Non-compliance with DORA can damage an organisation's relationship with regulators and lead to penalties.
-Organisations must start preparing for DORA compliance by scoping the project, conducting a gap analysis, developing a roadmap, and implementing mitigation actions. Challenges include weaknesses in IT risk management, lack of asset management, and the need for standardised contract clauses
-Organisations should take DORA seriously, invest in ongoing risk assessments, engage with third parties, and commit to implementing robust controls
Chapters
00:00 Introduction
00:55 Overview of DORA
06:09 Non-Compliance and Penalties
09:44 Preparing for DORA Compliance
13:16 Challenges in DORA Compliance
25:25 Key Considerations and Conclusion
Hello and welcome to another episode of Procurement Reimagined, brought to you by Gatekeeper. Joining us today is Reba Cox, Global Head of Procurement, Travel and Sustainability at MongoDB.
Join us as Reba shares her passion for procurement and discusses the importance of adapting to the changing world and industry. Learn how to build positive relationships with stakeholders and the need for continuous improvement. Reba also explains how technology and strong relationships can significantly impact an organization's efficiency and profitability.
Reba is the Head of Procurement, Travel, and Sustainability at MongoDB and has ten years of experience growing and scaling procurement organizations. She has led all of the FinOps launches for global internal tools as the company grew to 4,600+ employees. She has a strong passion for mentoring young women and empowering them to speak up and raise their hands. Reba is currently writing a (hopefully) future New York Times Best Seller called "What a Girl Wants, How to be who you are and get what you want".
Book a call with a Vendor and Contract Management Expert here - https://www.gatekeeperhq.com/book-gk-demo-step-1
GATEKEEPER'S GUIDE TO VENDOR LIFECYCLE MANAGEMENT Actionable checklists, tips and best practices. Download the ebook now for FREE: https://www.gatekeeperhq.com/free-vendor-management-ebook
Key Highlights:
Reba shares her passion for procurement and mentions that it is the only role in a company that allows you to learn how the company runs. As part of your day-to-day routine, you will get to interact with people from sales, operations, legal and finance teams. This gives you an insight on how they make decisions, the technology they use, and their pain areas. You can then piece this together to get a sense of how the company runs. Only procurement gives you this working knowledge across different business verticals.
The typical procurement workflow pivots around chasing multiple stakeholders to remove the workflow blockages. Now, think if the same stakeholders viewed you as an essential part of getting their work done, would there be fewer blockages? The way to cultivate positive relations with your stakeholders is to understand their pain points and current gaps. Next, identify the gaps as system, process, or communication issues and then fill them with efficient processes and automation. Your stakeholders will start viewing you as an asset that provides value. Go out of your way to get the vendor to sign up for a certification that your legal team requires. Provide solutions for sales in your purchase-to-pay cycle and automate routine tasks for the stakeholders.
Quotes:
Curated Episode List:
If you enjoyed this episode of Procurement Reimagined, here’s a curated list of some recent episodes that you will enjoy:
The podcast currently has 30 episodes available.