Regulatory Change Management: Effectively Managing Regulatory Change in Financial Services

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Financial services organizations are under increasing pressure to be agile in a dynamic environment that has constantly expanding regulatory requirements. In the past five years the number of regulatory changes impacting financial services organizations has tripled while staff and process have not changed. Lacking an integrated view of regulatory change management results in scattered approaches that behave like leaves blowing in the wind. The amount of regulatory change impacting financial services requires a new paradigm for tackling regulatory change. No longer can organizations afford to focus on silos of regulatory change management with disconnected information. An integrated GRC strategy addressing regulatory change through common processes, regulatory change data feeds, and a supporting information and technology architecture is required for financial services organizations to remain agile in a dynamic business and regulatory environment.

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Description

Regulatory Change Management

Effectively Managing Regulatory Change in Financial Services

Financial services organizations are under increasing pressure to be agile in a dynamic environment that has constantly expanding regulatory requirements. In the past five years the number of regulatory changes impacting financial services organizations has tripled while staff and process have not changed. Lacking an integrated view of regulatory change management results in scattered approaches that behave like leaves blowing in the wind. The amount of regulatory change impacting financial services requires a new paradigm for tackling regulatory change. No longer can organizations afford to focus on silos of regulatory change management with disconnected information. An integrated GRC strategy addressing regulatory change through common processes, regulatory change data feeds, and a supporting information and technology architecture is required for financial services organizations to remain agile in a dynamic business and regulatory environment.

  1. Tsunami of Change Overwhelms Financial Services Organizations
    • Regulatory Change Overwhelming the Financial Services Organization
    • Broken Process and Insufficient Resources to Manage Regulatory Change
  2. Defining a Regulatory Change Management Process
    • Elements of a Regulatory Change Management Process
    • Value and Benefits of a Regulatory Change Process
  3. GRC Architecture to Manage Regulatory Change
    • Regulatory Change Management Architecture Goals
    • Regulatory Change Management Architecture Considerations
    • Regulatory Change Management Architecture Capabilities
  4. GRC 20/20’s Regulatory Change Management Maturity Model
    • Level 1 – Ad Hoc
    • Level 2 – Fragmented
    • Level 3 – Managed
    • Level 4 – Integrated
    • Level 5 – Agile
  5. GRC 20/20’s Final Perspective
  6. About GRC 20/20 Research, LLC
  7. Research Methodology

rasmussenMichael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 23+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures, and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.


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