Page 177 - Cyber Defense eMagazine December 2023

• Individual Awareness: Provide full-bodied training and resources that empower employees to
securely operate their systems.
• Systems and Platform Security: Establish a process of diligently and consistently reviewing and
enhancing security capabilities. Implement Zero Trust tenets, including practicing the least
privilege principle, breaking work into smaller units, always verifying access and implementing
micro-segmentation, among others.
• Ensure Business Continuity: Prioritize areas that could disrupt operations to maintain seamless
functionality.

The Road Ahead

While financial institutions grapple with issues surrounding cybersecurity and operational resilience,
DORA offers a holistic framework to address these matters with an emphasis on incident reporting, third-
party risk management and collaborative threat intelligence sharing. The financial sector must also adopt
and enact best practices, including promoting individual awareness, securing systems and making
business continuity a top priority. Through this combination of regulatory compliance and proactivity,
financial organizations can ensure the security of their operations and the trust of their customers.

About the Author

Boris Khazin is Global Head of Digital Risk Management/Governance,
Risk and Compliance at EPAM Systems, where he is passionate
about providing solutions that deliver business value and exist at the
intersection of people, processes and systems.

Mr. Khazin has more than 20 years of management, consulting and
product development experience in the financial services and fintech
sectors. During his tenure at EPAM, he has led several GRC, business
intelligence, enterprise analytics and organizational capability/maturity
assessments to help clients identify, define and prioritize frameworks
that guide them toward a desired future state. From this, he has
developed a keen understanding of opportunities and challenges that
arise when organizations adapt to change. Previously, Mr. Khazin worked at multiple financial firms,
including UBS, S&P and Bloomberg. He was also an Investment Oversight Officer at TD Ameritrade.
Mr. Khazin has a Bachelor of Science in Behavioral Economics from Pennsylvania State University and
an MBA from Pace University.

Cyber Defense eMagazine – December 2023 Edition 177
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