VAM@ARTEMEON update in the course of a potential repeal of BAIT on January 17, 2025

With this message we would like to inform you about upcoming adjustments in the standard version of VAM@ARTEMEON. The notification is linked to our customer information dated February 22nd, 2024 (DORA Rollout), January 19, 2024 (DORA Update) and June, 22 2023 (DORA Information).

Background: In its cover letter on Circular 06/2024 (BA) dated May 29th, 2024 to the banking industry associations, BaFin announced its intention to repeal the BAIT (Minimum Banking IT Requirements) on the date of entry into force of the EU DORA Regulation (Digital Operational Resilience Act), namely January 17th, 2025.

Adaptation requirements in the AGP@ARTEMEON Governance, Risk & Compliance Suite: From a current perspective, no adjustments are initially required to our ISMS@ARTEMEON (information network and information risk management with workflows for protection needs assessment, deviation inventory and analysis of deviations from IS policy requirements, IS risks and information risk assessment) and BCM@ARTEMEON (business continuity management with workflows for business impact analysis, business continuity plan, risk analysis for BCM resources and BCM testing) software modules.

However, the planned repeal of BAIT will lead to adjustments in the VAM@ARTEMEON module (contract, third party risk and outsourcing management). Adjustments in VAM@ARTEMEON relate to editorial changes in the initial categorisation workflow, the validation of the underlying ICT services in accordance with DORA and the already planned expansion of the analyses and filter functions.

The aforementioned adjustments will be taken into account as part of the planned further development of the AGP@ARTEMEON platform and will be made available with the upcoming release of the AGP platform.

If you would like to find out more about how ARTEMEON can support you in dealing with third-party risk management, information risk management and business continuity management, please do not hesitate to contact us.