Regulatory change management
Your feed says four hundred things changed. Three of them touch you.
Continuous regulatory monitoring, scoped to your regulatory inventory, with each change mapped to the requirements and controls it affects and routed to the person who owns the decision.
Your problem
The reading is the expensive part, and it is the part examiners ask about
- A regulatory change feed tells you everything that changed, for everyone.
- Someone on your team then decides which changes apply to you and what each one means for your policies and controls.
- When an examiner asks how you handled a rule change, the answer is in someone's inbox, if it's anywhere.
What you get
Only what applies, and a record of what you decided
- A change log scoped to your requirements, with the text of each change and its source.
- For each change, what it touches: the requirements and controls it affects.
- A decision record your examiner can read.
How we do it
Collect, filter, map, route
- We monitor regulators, rulemakings, guidance and enforcement actions every day, collected from the issuing sources.
- Each change is filtered against your regulatory inventory, so you see what applies to you rather than everything that moved.
- We show what changed in the text, and which of your requirements and controls it affects.
- Each change that needs a decision goes to the person who owns it, and the record of what was decided is kept.
Monitoring of regulation is continuous. Assessment of your own controls is point in time, through independent testing or control testing.
How the work is done
The audit you already buy, performed by an engine.
- Every record testedControls are tested against the full population of accounts and transactions, not a sample of twenty-five.
- Every requirement citedEach requirement the work runs against is cited to the rule it comes from, with the facts behind it labelled.
- Findings pricedFindings arrive priced in dollars, so remediation is ordered by what each gap is worth.
- A signed reportThe report is signed, and any reader can check that nothing in it changed after signing.
Pricing
The feed and the analyst hours behind it
This replaces a regulatory change feed subscription, and the analyst time spent deciding what each item means for you.
Price: Priced at scoping. How pricing works
The published method
How this is normally done
The regulator's and the standard-setter's own method for this work, explained in plain English and cited to the source. We have nothing to hide about how we do it: check our process against it.
- ReferenceRegulatory Change Management: Definition, Process and Supervisory ExpectationsIdentifying new and amended rules, assessing applicability, analysing impact on policies and controls, implementing and documenting the change, and where the CFPB, OCC and FFIEC expect it.
- ReferenceRegulatory Inventory (Compliance Obligations Inventory), DefinedThe maintained list of laws, rules and guidance that apply to an institution, mapped to business lines, owners, policies and controls: where the expectation comes from, what each entry holds, and how it is kept current.
- CMSCompliance Management System (CMS): The CFPB FrameworkWhat a CMS is under the CFPB framework: board and management oversight plus a compliance program of policies, training, monitoring and audit, and consumer complaint response. How examiners assess it and how to build one.
What happens next
Three steps from here.
- 01
A short call
What you do, where you operate, and who owns decisions on your team.
- 02
Your regulatory inventory
The rules that apply to you, cited, so every change can be checked against them.
- 03
The first change log
What moved that touches you, what it affects, and who needs to decide.