As anyone who works in a compliance or regulatory role knows, regulation is not static. Every highly regulated industry operates in a dynamic environment, where the regulatory framework is constantly evolving. The drivers for regulatory change make a huge impact on the industry, such as new risks emerging, changes to the superannuation industry, external shocks (in walks the coronavirus pandemic), operational resilience in a post-pandemic digital world and events that are endemic to the financial system.
The ultimate challenge for compliance officers is effectively managing regulatory horizon scanning and tracking changing regulations to develop your organization’s policy and process frameworks.
- Which regulatory areas are experiencing the most change now and in the near future?
- Are any of these areas more complex to manage than others and if so, why?
- What is the interaction between managing regulatory change and various accountability regimes?
- What innovations - regulatory, technological, operational - would make managing regulatory change less challenging?
Understanding emerging trends in the Regulatory Change landscape highlights the importance of investing in Governance, Risk, and Compliance (GRC) software and why it is so much more than just a preventative measure for future losses and giving your company the competitive edge.
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Learn more about SAI360 for Regulatory Change Management, or explore our additional webinars and whitepapers on best practices in RCM and scanning the regulatory horizon. Or, contact us to see how we've helped organizations like yours.