Article 8Identification
What it says
1. As part of the ICT risk management framework referred to in Article 6(1), financial entities shall identify, classify and adequately document all ICT supported business functions, roles and responsibilities, the information assets and ICT assets supporting those functions, and their roles and dependencies in relation to ICT risk. Financial entities shall review as needed, and at least yearly, the adequacy of this classification and of any relevant documentation.
2. Financial entities shall, on a continuous basis, identify all sources of ICT risk, in particular the risk exposure to and from other financial entities, and assess cyber threats and ICT vulnerabilities relevant to their ICT supported business functions, information assets and ICT assets. Financial entities shall review on a regular basis, and at least yearly, the risk scenarios impacting them.
DORA, the European Union regulation on digital operational resilience, Article 8Show the rest of the text(5 more paragraphs, about 200 words)
3. Financial entities, other than microenterprises, shall perform a risk assessment upon each major change in the network and information system infrastructure, in the processes or procedures affecting their ICT supported business functions, information assets or ICT assets.
4. Financial entities shall identify all information assets and ICT assets, including those on remote sites, network resources and hardware equipment, and shall map those considered critical. They shall map the configuration of the information assets and ICT assets and the links and interdependencies between the different information assets and ICT assets.
5. Financial entities shall identify and document all processes that are dependent on ICT third-party service providers, and shall identify interconnections with ICT third-party service providers that provide services that support critical or important functions.
6. For the purposes of paragraphs 1, 4 and 5, financial entities shall maintain relevant inventories and update them periodically and every time any major change as referred to in paragraph 3 occurs.
7. Financial entities, other than microenterprises, shall on a regular basis, and at least yearly, conduct a specific ICT risk assessment on all legacy ICT systems and, in any case before and after connecting technologies, applications or systems.
What it means in practice
Know what you have before protecting it. Entities must identify, classify and document all ICT-supported business functions, roles and responsibilities, the information and ICT assets supporting them, and their roles and dependencies in relation to ICT risk — reviewing the adequacy of that classification at least yearly.
They must continuously identify all sources of ICT risk, in particular exposure to and from other financial entities, assess relevant cyber threats and vulnerabilities, and review risk scenarios at least yearly. Entities other than microenterprises must perform a risk assessment on each major change to the network and information system infrastructure or to processes affecting ICT-supported functions or assets.
All information and ICT assets must be identified, including those on remote sites, network resources and hardware, with the critical ones mapped, along with configuration and the links and interdependencies between assets. Processes dependent on ICT third-party service providers must be identified and documented, with interconnections identified where the services support critical or important functions. Inventories must be maintained and updated periodically and on every major change.
Entities other than microenterprises must also conduct a specific ICT risk assessment on all legacy ICT systems at least yearly, and in any case before and after connecting technologies, applications or systems.
What is in the packs for this
Each one helps with this requirement.
- Excel
DORA Article-to-Control Mapping Library
in DORA ICT Risk & Resilience ReadinessRequirement Library rows RQ-12, RQ-13: Know your functions, assets and dependencies; Risk assessments on change and on legacy systems. Each gives the provision in plain words, what to show and the documents that help. - Excel
DORA Readiness Self-Assessment
in DORA ICT Risk & Resilience ReadinessReadiness items RM-04: Functions, assets and dependencies identified and assessed. Each rates how ready the entity is, with the evidence and the gap. - Word
ICT Risk Management Framework Document Template
in DORA ICT Risk & Resilience ReadinessStatement FW-17 on functions, assets and dependencies. - Excel
Scan Coverage & Asset Scope Register
in Vulnerability & Exposure ManagementThe scope, criticality and inventory columns hold the asset inventory that its reference list ties to identifying and documenting ICT assets and keeping the inventory current. - Word
Risk Identification & Assessment Operating Procedure
in Information Security Risk ManagementStep 22 reviews the asset and service list yearly, Stage 1 identifies risk sources continuously and reviews scenarios yearly, and Stage 8 assesses risk on major change. - Excel
Risk Assessment Workbook
in Information Security Risk ManagementThe regulated-entity instruction sets a risk assessment on each major change to systems, processes or procedures. - Excel
Information Asset Register
in Information Classification & HandlingHolds identified and classified information assets, including those at remote sites and suppliers, reviewed at least yearly, with a change log that keeps the inventory updated. - Excel
End-of-Life Software & Unsupported System Register
in Patch ManagementThe Register and Reviews sheets list legacy systems and assess their risk on a regular basis.
Text: Regulation (EU) 2022/2554, as published in the Official Journal of the European Union, from EUR-Lex. Only the Official Journal text is authentic.