Regulatory Change and Effective Policy Management

Day 1 – Regulatory Change Management

Day 2 - Effective Policy Management

In the time it takes you to consider this workshop your business has changed. Business drifts in a sea of change. One particular area of change that bears down on the organization is the siege of changing laws, regulations, and enforcement actions.

When regulatory change management is an ad hoc process with little to no documentation, accountability, and task management, there is no possibility to be intelligent about regulatory risk that impacts your business. The typical organization does not have adequate processes in place to monitor regulatory change, determine impact on business processes, prioritize, and make changes to policies. Information itself is not enough organizations are overwhelmed by data through legal and regulatory newsletters, Websites, e-mails, and content aggregators.

The organization needs a defined regulatory change management process to assimilate the intake of relevant information, track accountability on who needs to perform what actions, model the potential impact on the organization, establish priorities, and determine if the organizations policies, procedures, and controls need to be adjusted to address the change.

This workshop enables the attendee to build a regulatory intelligence strategy and process that monitors regulatory change, measures impact on the business, while implementing appropriate policy, training, and control updates.

• Develop a regulatory taxonomy/framework indexed to your organizations enterprise risk taxonomy
• Understand roles and responsibilities in the regulatory change management process
• Conduct a business impact analysis to understand regulatory change impact on your business
• Map regulations to policies so that you know what policies to review when regulations change
• Revise communication and training programs to keep them current with regulatory change
• Monitor and audit action plans to ensure that changes to regulations are driven into the controls of the business

Policies & procedures must be in place to safeguard and educate staff, to protect the organization against unnecessary risk, ensure the consistent operation of the business, uphold ethical values of the organization, and to defend the organization should it land in turbulent legal waters.

However, effectively managing policies is easier said than done. Ad hoc or passive approaches mean that key policies are out-dated, scattered across the business, and not consistent– resulting in confusion for recipients; and an insufficient level of governance and reporting for auditors and regulators.

It is no longer enough to simply make policies available. Organizations need to guarantee receipt, affirmation AND understanding of policies across the business.

To consistently manage and communicate policies, organizations are turning toward defined processes and technologies to manage the Policy lifecycle. The continual growth of regulatory requirements, complex business operations, and global expansion demand a well thought-out and implemented approach to policy management.

This workshop provides a collaborative learning environment in which the attendees will be guided through lectures and discussions to learn how to implement an effective policy management process within their organizations.

• Defining a process lifecycle for managing policies
• Establishing policy ownership and accountability
• Providing consistency in policies through consistent style and language
• Communicating policies across extended business relationships
• Tracking policies attestation and delivering effective training
• Monitoring metrics to establish effectiveness and/or issues with policies
• Relating policy management to risk, issue/case, and other GRC areas