Manage regulatory change and impact assessment workflow
Regulatory Change Management
Enhanced content integration and mapping capabilities ensure you don’t miss relevant regulatory developments. Our innovative technology improves the quality of your information, increases transparency, and drives deeper insights into the risks impacting your business.
Why choose Regulatory Change Management?
Get a flexible, award-winning solution that integrates third-party feeds, perform impact assessments, and map your organizational structure and relevant policies to rules – in a streamlined way.
Regulatory Change Management, a solution on our Connected Risk platform, gives you the ability to fill gaps left by legacy and manual solutions, improving process automation and monitoring while reducing data consolidation and reporting effort.
Seamlessly consolidate all the components of your regulatory change management process into a single, unified solution, reducing manual effort and improving the accessibility and reliability of your work product.
Further simplify by automatically routing regulatory updates to the correct stakeholders for impact analysis and action planning, and connect the compliance process with existing technologies leveraged by other assurance functions enabling a best-fit, best-of-breed approach.
Features & benefits
What you get with Regulatory Change Management
Tailor the application to fit your needs, risk appetite, and methodology. Onboard and map third-party data with complete taxonomy support.
Incorporate content from third-party and internally curated sources to receive greater visibility of changing and emerging risk factors.
Robust, automated version control with a full audit trail lets you pivot in response to requests for expert independent reviews.
Present role and context-specific information for an enriched user experience that informs and evidences decision-making.
Robust, configurable reporting, delivered through alerts, status reports, and personalized dashboards.
How it works
Regulatory Change Management in more detail
Identify, evaluate, and assess regulatory impact
Compliance teams are prompted to conduct impact assessments and determine which business units, controls, policies, and procedures may be affected by a regulatory event and rule change.
Stakeholders are notified of relevant changes via their email and personal dashboard, minimizing the time spent manually monitoring supervisory websites and enabling skilled resources to be deployed to more value add activities. Upon identifying which policies require review, you can take the necessary steps to update and notify employees of relevant policy changes.
Automate the monitoring of internal and external factors that are indicative of a changing compliance environment. Then, initiate notifications and workflows as metrics near or exceed your defined thresholds, improving overall visibility and responsiveness to emerging risks.
Create an ecosystem of connected sources
Improve automation, insight, and decision-making to enable risk and compliance functions to take advantage of rapidly emerging digital technologies and analytic techniques.
Improve data sharing and process integration with third-party advisory services, regulatory agencies, and external auditors. This reduces the cycle time required to prepare for external exams and improves perception of program maturity.
Combine with other risk and compliance processes, extend into audit, and ensure core data and taxonomies are consistently used across the enterprise.
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