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How our new regtech solution can help compliance professionals

Gareth Evans
Managing Director, Enterprise Risk Management

Our new solution connects regulatory change management processes to organizational structures, fed by world-class regulatory intelligence.

In January 2017, we announced the release of Regulatory Change Management, a new solution that helps firms manage their end-to-end compliance processes.

This regtech solution leverages our Connected Risk platform, providing additional flexibility and robustness to firms’ compliance processes in a single location.

How does it work?

Organizations can incorporate insight and content from Regulatory Intelligence, or third party data feeds, and map relevant policies to rule changes to comprehensively evaluate their effect on the business.

Compliance teams can tailor the information they receive through predefined and customized taxonomies, as well as the frequency of the notifications about regulatory changes.

Example of the Main Dashboard in Regulatory Change Management

With Regulatory Change Management, compliance teams can:

  • Track hundreds of regulators across global geographies and jurisdictions
  • Schedule periodic risk assessments and impact analyses of regulatory events and requirements
  • Map these to policies and procedures impacted by these requirements
  • Create action plans; assign tasks to business owners
  • Empower compliance workflow to address regulatory needs
  • Evidence risks and controls to management and regulators
Example of the Management Dashboard in Regulatory Change Management

A few examples of analyst report coverage we have had from the launch include:

Regulatory Change Management

Download full infographic for a step-by-step overview of the activities involved in each part of the regulatory change management process

What is Connected Risk?

A shift in regulation toward personal accountability is currently underway. This has created a need for executives to access personalized risk dashboards and reports supported by frequently changing and modifiable formats.

While senior leadership need a consistent and holistic view of risk, it is unrealistic to assume the component parts in a risk hierarchy can all be standardized.

Connected Risk provides next generation data mapping capabilities. These advance what’s possible when seeking to aggregate non-standardized data.

Available in toolkit form, customers can develop their own bespoke solutions, or take our solutions and customize it for their needs without extensive external support.

The platform enables customers to seamlessly integrate risk and compliance duties with their daily workflows. Whether that’s setting risk appetite, defining and executing processes to understand and monitor risk – like risk assessments, risk indicators and loss event tracking – or completing tasks for issue remediation.

Connected Risk supports our new-to-market Regulatory Change Management and Model Risk Management solutions; and our Internal Audit, Operational Risk and Compliance solutions that will be available later this year.

Discover a connected approach to the regulatory change management process with Regulatory Change Management