Regulatory Change Management
Respond to rapid regulatory shifts.
The nature of compliance is change, that is why managing regulatory change requires an innovative approach. With Regulatory Change Management on Connected Risk™, your team can experience benefits ranging from refining your compliance strategies to gaining deeper insights on the emerging risks.
Unlock heightened possibilities with an all-inclusive solution that furnishes real-time regulatory intelligence, alerts for regulatory shifts, relevant news feeds, and flexible assessments of change impacts – all unified in an integrated solution.
We understand that to stay compliant, you need confidence that your firm’s policies and procedures are always aligned with emerging regulatory rules.
Our Policy Management module enables your organization to connect regulatory change to your policy lifecycle.
This complementary solution provides a comprehensive breadth of agile, integrated, and smart policy management functionality including library management, authoring, review and publication as well as attestation and breach and policy exception management.
Your function is part of a broader risk ecosystem, encompassing neighbouring risk and compliance functions, you will have access to several pools of relevant risk data. Often this will not necessarily abide to a common standard and may reside on multiple legacy solutions that are not integrated. The Connected Risk™ platform, which underpins Regulatory Change and Policy Management, can draw upon this data using advanced data modelling and mapping capabilities that also facilitates a greater degree of standardisation.
The solution maximizes the value these capabilities bring. We offer flexible assessment matrices that draw on data from any risk and compliance functions you choose to connect with. Based on the intelligence these connections provide, you can apply mid-cycle directional changes in your assessment plan to ensure it remains focused on what matters most at any given time.
Empower your regulatory change practices with features available right out of the box and designed specifically for compliance professionals.
Adapt
Regulatory Change Management offers enhanced content integration and mapping capabilities to ensure your compliance teams do not miss a relevant regulatory development. Content can be seamlessly integrated from third party data feeds, ensuring teams receive the essential information needed to interpret emerging legislation and regulation.
Identify
A core part of any regulatory change management process is performing impact assessments to determine the applicability of the event to your business and assess compliance risk. With our solution, your organisation can undertake impact assessments on the relevant business units, controls, policies, and procedures.
To ensure your organization has the right policies in place and knows which policies need to be updated, Regulatory Change Management helps your compliance team to connect your regulatory obligations to policies, policy details, owners and documentation.
Clear Reporting
Regulatory Change Management connects your team to the ever-changing regulatory environment, helping you foster a deeper understanding of the rule changes affecting day-to-day business processes.
To clearly outline what steps were taken during the change management process, as well as evidence risk and controls, this solution enables you to identify what compliance decisions were made across the business with a full audit trail.
As part of our reporting capabilities, your compliance team can:
- Identify overdue items and critical data by status
- View regulatory change as it occurs, by status, region, sector, theme, and level of risk
- Understand how regulations relate to business units and identify which policies are in place to manage compliance risk
Regulatory Interactions
Regulatory Change Management includes extensive regulatory relations management capabilities. The solution creates a single source of truth of all contact details avoiding duplication and minimising the risks of miscommunication. The engagement is captured including users and their roles and every engagement can also be tied to a business unit(s) which helps organise and report all associated exams, attestations and controls tied in one place.
Connected Risk™ provides you with a single source of truth that provides infinite linkage capabilities, and in turn, increases data quality and knowledge sharing.
Connected Risk™ utilizes enhanced drag-and-drop and powerful data mapping capabilities for creating additional taxonomies and linkages into neighboring risk areas.
Our Regulatory Change Management solution is highly configurable and can help your teams:
Tailor-made, just for your organization
Tailor the solution to meet your organization’s growing regulatory needs.
Evolve with regulatory change
Ensure evolving regulatory needs and internal policy updates are incorporated into your team's regulatory inventory.
Provide evidence with integrated reporting
Provide evidence of the latest taxonomies and relationships with our integrated reporting capabilities.
Expand with our RESTful API
Connected Risk™ leverages RESTful web service endpoints that allow bidirectional integration of your data.
React and adapt to regulatory change with ease.
Talk to a compliance expert.
Fill out the form to the right to be connected to one of our Solutions Experts that can assist you with standing up a proof of concept or even working within your parameters to get a demo started for your group today.
Learn more about our Connected Risk™ Regulatory Change Management solution and how it can manage the entire GRC lifecycle within your business.
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Learn more about regulatory change management from Empowered Systems
Expand and integrate your solution with
Policy Management
Manage your organization's policy changes with regular reviews and checkpoints.
Compliance Management
Aggregate & streamline compliance programs and reveal an understanding of your risks.
Operational Risk Management
Quickly identify, capture and manage multiple sources of risk across the enterprise.
"Powerful Platform For Compliance With Dynamic Regulatory Environment"
“The product is a powerful platform for regulated firms in the financial industry to comply with the ever-changing regulatory environment. The software helps my organization navigate rules and regulations, internal processes, and regulatory reporting requirements.”
Senior Associate, Finance Organization with an annual return of $1-3BN
