Set up a regulatory governance system
Our solutions help you establish an effective regulatory governance system where all information about regulations and internal standards – including their connections to business processes, risks, and internal controls – is centralized within a shared repository. They automatically generate reports with drill-down capabilities that make it easier to determine existing compliance levels and update and prioritize action plans based on regulations’ risk levels.
You can set up a regulatory governance system in three phases:
- Analyze: Specify and describe the applicable regulations and internal standards
- Implement: Distribute information about regulatory requirements and internal standards to stakeholders, assess the likelihood of compliance risks, and determine the effectiveness of compliance controls
- Monitor: Keep a constant watch on new regulations and the ensuing impacts on your business