Regulatory Intelligence - Regulatory Change Management

 RIG assists financial institutions in establishing clear ownership and accountability for regulatory changes through a robust regulatory strategy and governance operating model. This includes creating escalation protocols to address emerging risks while aligning oversight committees, policies, procedures, and reporting structures with enterprise risk management and board governance to enhance regulatory intelligence and regulatory change management. 

We collaborate with financial institutions to proactively map domestic and global regulatory authorities, legislators, government agencies, and industry bodies to each financial institution’s specific legal entities, licenses, jurisdictions, products/services, and operations.  The automation of regulatory surveillance and monitoring addresses full coverage of regulatory, legislative, and supervisory developments. By combining regulatory intelligence to anticipate regulatory changes across the financial services sector, RIG helps firms develop an effective regulatory strategy and ensure accurate identification and capture of applicable regulatory changes.

 Using data-driven, context-rich analysis, we help financial institutions to accurately identify and assess the regulatory, financial, operational, and reputational impacts of regulatory surveillance and content. By leveraging practical regulatory intelligence, we enable financial institutions to prioritize regulatory, legislative, and enforcement actions and to incorporate best practices tailored to their risk exposure. This approach enhances their regulatory strategy and optimizes resource allocation to align with supervisory expectations and align policies, standards, regulations, and controls. 

  RIG provides financial institutions with a well-defined framework to manage regulatory change enterprise-wide, including analyzing existing processes to support the regulatory change management program and identifying gaps and opportunities for improvement. Our expertise spans developing regulatory strategies tailored to each financial institution, including rule interpretation, control updates, and policy and procedure changes. RIG works with clients to create job aids to support the execution of the regulatory change management program and to develop and implement key metrics to monitor its execution. We also focus on training, communications, and assurance to enhance risk management and ensure timely compliance and traceability by identifying weaknesses, gaps, and opportunities for improvement across processes and platforms that impact our clients.

Whether a financial institution leverages RegTech automation, artificial intelligence (AI) for compliance and risk management, or is considering a GRC platform, our goal is to enhance regulatory intelligence while streamlining regulatory monitoring, mapping, and reporting. This approach not only supports a robust regulatory strategy but also improves data accuracy, auditability, and the speed of regulatory implementation, all of which are crucial for effective risk management. RIG helps clients optimize technology to analyze, streamline, and consolidate issues and risks from all sources across the 3LOD into a clear, prioritized list for line-of-defense consumption and actioning

RIG provides forward-looking insights that contextualize regulatory intelligence, legislative, and policy trends. We translate complex developments into actionable guidance for leadership, risk management, and compliance teams, enhancing their regulatory strategy. 

The regulatory intelligence capability supports business lines in identifying, assessing, and implementing regulatory change, including overseeing business changes to policies, procedures, systems, and/or controls via action plans or projects. The early identification and assessment of regulatory developments and their potential impact on a financial institution are key to oversight of material enterprise-wide compliance.