Brussels, 18 June 2024 - The European Association of Cooperative Banks (EACB) convened an ICT Compliance Roundtable, bringing together representatives from cooperative bank organisations and their experts. The event served as a platform for sharing invaluable insights, common practices, methodologies within the ICT compliance landscape, and to also align on the path to implementation of new ICT regulations.
The roundtable welcomed participants with diverse backgrounds, each possessing extensive experience in ICT internal controls, audit, risk, and compliance. Notably, attendees held key positions responsible for ICT compliance activities within their respective institutions, particularly within the Compliance Office, the second line of defense. Their responsibilities included governance and monitoring of the risk of non-compliance with essential ICT regulations, including the Digital Operational Resilience Act (DORA), the Directive on the Security of Network and Information Systems (NIS), the Cyber Resilience Act (CRA), and the Artificial Intelligence Act (AI).
The agenda was meticulously crafted to foster productive discussions and knowledge exchange. Participant introductions allowed for networking and provided insights into the diverse perspectives present. A session dedicated to the contribution of ICT compliance to general compliance facilitated engaging conversations on the evolving role of ICT compliance within cooperative banks, as well as thoughts for the future, including leveraging emerging technologies to enhance compliance frameworks.
A highlight of the event was the presentation of results from an ICT Compliance benchmarking exercise, underscoring its significance in assessing the current landscape and identifying key challenges facing the industry. The benchmark highlighted a variety of approaches in ICT Compliance, in term of organisation, but a common basis with respect to scope and activities, stimulating a rich interaction within participants.
Zooming in through the regulatory lens, Bert Truyman, Partner Risk Advisory at Deloitte, delivered a comprehensive presentation on the current landscape of ICT regulations, shedding light on the latest developments and implications for banks. His remarks were followed by an interactive Q&A session.
Additionally, representatives had the opportunity to delve into DORA-specific ICT compliance challenges.
The day concluded with insightful conclusions, summarising key takeaways. The ICT Compliance Roundtable underscored the critical importance of collaboration and information sharing and the progressively increasing role of ICT Compliance in each organisation in navigating the complex regulatory landscape. As organisations continue to navigate address evolving ICT regulations, forums like these serve as invaluable platforms for sharing practices and addressing challenges.