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Understanding PCI DSS 4.0 and DORA: A Roadmap for Scalable Risk Management

John Crossno

Navigating the labyrinth of regulations can feel overwhelming, yet crucial to building a robust cybersecurity framework. Today, we’ll delve into PCI DSS 4.0 and DORA—two pivotal standards shaping the landscape—and explore how they can serve as comprehensive guides for your long-term risk management strategy.

Discover the full breadth of impact DORA and PCI DSS 4.0 will have on your organization’s security strategy by watching the full webinar for the latest updates and how you can establish a scalable foundation that to set your organization up for long-term resilience.

PCI DSS 4.0 and DORA: More Than Compliance

When it comes to PCI DSS 4.0 and DORA, checking regulatory boxes isn’t enough. These standards are designed to be living documents, evolving in response to the ever-changing threat landscape. They offer a blueprint for thinking about and implementing a scalable risk management strategy that goes beyond mere compliance.

Why Should You Care?

Here's the catch: non-compliance isn’t just a slap on the wrist—it’s a financial disaster. The average revenue lost from a single non-compliance event is a staggering $5.8 million. To avoid such pitfalls, it's imperative to adopt a holistic, scalable risk management approach.

The 5 Pillars of a Scalable Risk Management Strategy

To foster a robust and scalable risk management strategy, you must incorporate these five key components:

1. Vulnerability Management

Start by identifying and addressing vulnerabilities before they become exploitations. Regular vulnerability assessments and timely patch management are essential. Implement a scalable vulnerability management program, including on systems like the mainframe, considering requirements from regulations like DORA and PCI 4.0.

2. Business Resilience

The essence of business resilience lies in your ability to adapt and continue operations despite disruptions. This involves a blend of proactive planning and reactive measures. Ensure your organization can withstand incidents through robust disaster recovery plans and continuous testing.

3. Authentication

Robust authentication mechanisms form the cornerstone of any security strategy. By implementing multi-factor authentication (MFA), you add an essential layer of protection. Conduct compliance assessments to evaluate system access and mitigate the risk of unauthorized entry, thereby strengthening your overall security posture.

4. Encryption and Data Privacy

Safeguard sensitive data both in transit and at rest with essential encryption. Implement strict data privacy policies to maintain compliance and build stakeholder trust. Define clear business goals and document restricted data sharing use cases. Engage in scenario planning to showcase the potential value of easing these restrictions.

5. Response and Recovery

Despite best efforts, breaches can occur. A robust incident response plan is essential. It should outline immediate actions, minimize damage, and speed up recovery. Regular drills ensure everyone knows their role during a crisis. Enhance disaster recovery documentation by detailing procedures, roles, responsibilities, and recovery strategies, and store plans centrally for easy access. Precise data recovery at the file or dataset level is critical.

Join the discussion with Rocket Software’s Director of Product Management John Crossno and Director of Customer Solutions Engineering Cynthia Overby to deep dive into the nuts and bolts of building a scalable risk management strategy in the full webinar.

Bridging the Gap: PCI DSS 4.0 and DORA as Guides

Both PCI DSS 4.0 and DORA move beyond mere prescriptive requirements, urging a strategic approach to scalable risk management. Their guidelines are crafted to evolve, providing a robust foundation that adapts to emerging threats and new regulations. Embrace this forward-thinking framework to stay ahead in the ever-changing landscape of security and compliance.

Conclusion

Adopting a scalable risk management strategy isn't just about compliance; it's about safeguarding your organization's future. PCI DSS 4.0 and DORA provide invaluable frameworks to help you build a robust, resilient, and scalable risk management strategy. By incorporating vulnerability management, business resilience, authentication, encryption, and response and recovery into your approach, you’ll be well-equipped to tackle the challenges ahead.

To uncover the full impact that DORA, PCI DSS 4.0, and future regulations will have on your security strategy and how you can prepare for them watch the full webinar here.