Vulnerability Management for NIS2 and DORA Compliance

Vulnerability Management in NIS2 and DORA Compliance

Cybersecurity is critical in the current world and managing risks is one of the critical aspects of cybersecurity especially in regards to the NIS2 and DORA. As the technological environment continues to evolve, there are risks that are inherent in the systems and data of organizations as well as the need to protect the organizations’ image.

The modern world can be defined as a world with a system’s weakness, which gives hackers a chance to enter your corporate network, violate your data, and jeopardize corporate processes. It is not just advisable but mandatory for organizations to practice vulnerability management that is now part of the NIS2 and DORA regulation and incurs penalties.

By mastering the vulnerability management, besides you will be able to follow these fundamental frameworks, but also offer a more robust security position, reduce the possibilities of data leakage and ensure your company’s future.

NIS2 Compliance and Vulnerability Management

The NIS2 directive currently under preparation to replace the current NIS directive paid more attention to vulnerability management as one of the key components of the protection of critical infrastructures. With regards to NIS 2, all organizations performing in the energy, transport, healthcare, etc. sectors must implement reliable measures to identify and respond to threats in an effective manner to prevent such attacks.

Specifically, NIS2 mandates that organizations:

Maintain an inventory of assets: To ensure an effective inventory of the organization’s hardware and software resources and the risks that are associated with each resource, the following should be done.
Conduct regular vulnerability assessments: Perpetually scan your systems and networks for vulnerabilities and utilize the scanner tools as well as the penetration testing.
Prioritize and remediate vulnerabilities: A suggested approach is to treat the vulnerabilities by their priority: the most critical and likely to be exploited should be solved first; the measures that should be taken are to apply the security patches to fix the outdated software, properly set the access rights or replace the old equipment.
Establish incident response and reporting: Security incidents or vulnerability incidents shall also be planned and rehearsed, and the organization shall also report such major incidents to the relevant authorities.

As a result, when your organizational vulnerability management is aligned with the NIS2 regulation, it is not only the compliance that is treated, but also the security of the sectors along with the assets essential for your functioning.

DORA Compliance and Vulnerability Management

The second regulation that also pays much attention to the issue of vulnerability management is the Digital Operational Resilience Act (DORA). DORA aims at fulfilling the aim of making sure that the institutions- financial and otherwise- within the European Union are capable of handling, mitigating and recovering from operational risk occurrences including cyber risks.

Under DORA, organizations are required to:

Conduct regular risk assessments: Ensure that their organisation conducts risk assessment on their Information and Communications Technology (ICT) systems at least on an annual basis, in relation to identification of risks and their assessment.
Implement vulnerability management processes: Establish adequate control of vulnerability that will improve the identification, assessment as well as control of vulnerability in an efficient way.
Develop incident response and business continuity plans: Sustain the incident response and business continuity plan that should be revised and updated regularly to ensure the organization’s readiness to respond to and recover from security incidents concerning the identified vulnerabilities.
Report significant incidents: Where necessary, report the incidences of security to the regulatory authorities such as those that relate to vulnerabilities.

When dealing with vulnerability and when using it for the DORA compliance management, you are not only meeting the legal requirements but you are also enhancing the stability and security of the financial institution or the regulated entity.

Vulnerability Management: Challenges and Solutions

As it is now evident, vulnerability management is a key component of organizations; still, these organizations encounter the following challenges when it comes to the implementation of the programs.

Complexity of the IT environment: The IT structure of today’s organization can be complex and can have multiple layers through the implementation of different types of hardware, software, and cloud services. The management finds it very hard to track all the possible risks that are likely to happen.
Lack of visibility and asset inventory: Most organizations have issues regarding the inventory of their IT assets and most of them do not have up to date databases of their inventory.
Resource constraints: This means vulnerability management is, time consuming, resource intensive and needs financial capital something that a company especially the start up may find difficult to provide.
Prioritizing remediation efforts: Because of the limited resources in an organization particularly when it is operating on a small budget, it is difficult to determine which vulnerabilities ought to be fixed first.

To overcome these challenges, organizations can implement the following solutions:

Adopt a centralized asset management system: Make sure that there is an IT asset management program to assist in documenting all the organization’s hardware and software and their risks.
Leverage automation and vulnerability scanning tools: It is recommended that your IT environment should be constantly scanned by automated vulnerability scanning tools just that your security personnel will not be bogged down by this task while at the same time seeking to attend to the more critical vulnerabilities that have been identified and other issues.
Prioritize remediation based on risk: Adopt vulnerability management that is based on risk which means that vulnerabilities will be addressed based on the level of risk and the tolerance level of the organization.
Invest in training and upskilling: Make it a point that the security team should be trained from time to time because this will assist the team to acquire the relevant skills and knowledge on how to handle the different risks.
Collaborate with third-party providers: This is why it is advisable to engage MSSPs or other third-party vendors as and when needed, to build up your internal capability and also call on the expertise of such specialists where vulnerability management is concerned.

If these challenges are met and proper solutions applied, one can establish a good and sufficient VM program that could meet the NIS2 and DORA requirements as well as add value to the organization’s cybersecurity.

The Vulnerability Management Program

Implementing a comprehensive vulnerability management program involves several key steps:

Establish a vulnerability management policy: Design a detailed policy for managing vulnerabilities that would outline your organizations approach, who does what and how, and ways of identifying, assessing, and addressing vulnerabilities.
Conduct a thorough asset inventory: Make sure that there is documentation of all the hardware and software assets in the organization with the details of the vulnerabilities and the risks associated with them.
Implement vulnerability scanning and assessment: Conduct security scans or audits, either via automated programs or manually, to identify security vulnerabilities in your IT system. Check the findings with regards to remediation priority.
Prioritize and remediate vulnerabilities: Develop a risk management matrix regarding the threats, how acute the risk is, the impact that it may have on your business, and your risk appetite.
Establish incident response and reporting: Develop and set up, as well as review from time to time, the procedures for managing security events, associated with vulnerabilities. Ensure that large events are escalated to the appropriate stakeholders as required by NIS2 and DORA.
Continuously monitor and improve: There is a constant need for monitoring the emergence of new vulnerabilities, regulating the activities of IT specialists on their elimination, and periodic evaluation and adjustment of the functioning of the vulnerability management program.
Thus, it can be concluded that by implementing a vulnerability management program, it is possible to satisfy the requirements of both NIS2 and DORA, as well as enhance an organization’s protection against the various threats present in the modern environment.

Conclusion

Security risk management is one of the significant components of cybersecurity with a special focus on NIS2 and DORA regulations. When it comes to mastering the vulnerability management, you can not only address such significant regulations but also enhance the organization’s security state and prevent it from the data breaches that can have a negative impact on its future.