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22nd November 2023 | Whitepapers

Third-Party Risk Management in the Time of DORA

Acuiti today publishes Third-Party Risk Management in the Time of DORA: The challenge for the sell-side reportin partnership with Compass Partners.

This report examines how firms operational in derivatives and wider capital markets are preparing for DORA and their overall approach to TPRM. It focuses on the sell-side, but also includes a look at how the asset management and proprietary trading communities are approaching the implementation of DORA. It is based on a survey of senior executives at 106 firms.

Some of the key findings included:

  • The top challenges firms are facing in preparing for DORA include the operational resources required; the criteria to analyse threats and getting information from vendors
  • While a majority of sell-side firms already map third-party relationships across their firm, the number that map nth party relationships, a key element of DORA, is much lower 
  • Few firms currently meet the full requirements of DORA with exit strategies for critical vendors and the frequency of reviews of third-party relationships identified as key areas of weakness
  • Almost 90% of firms are increasing investment in third-party risk management to meet the requirements of DORA and other regulations and many are considering outsourcing management and compliance on a managed service basis

Download the full report below.