14 Wall Street, New York, NY
Regulatory Change Management
Enable Legal, Government Relations, Regulatory Affairs, and Compliance teams to enhance performance and respond more swiftly to market changes.
Scan Horizon for Regulatory Change
Workflow the key steps for change
Applicability Analysis
Conduct Impact Assessment
Manage change to Completion
Scan the Horizon for Regulatory Change
Your challenge
Scan all applicable websites and sources to identify upcoming changes to regulations, rules, laws, and standards that impact your organization.
Your team does these tasks... manually
Your team does these tasks... manually
- Monitor Regulatory Changes: Research and track modifications to laws, regulations, rules, and standards that affect the organization by reviewing alerts and notifications from relevant agencies and sources.
- Curate Regulatory Intelligence: Gather and organize regulatory information from various channels, such as feeds, emails, and subscriptions, considering context and applicability (e.g., guidance documents, examination findings).
- Prioritize Relevant Changes: Categorize changes by topic and identify those directly impacting the organization.
RiskCounts' value addition
- Capture Regulatory Changes: Automatically track changes to laws, regulations, rules, and standards relevant to your organization across 50+ document types, including bills, proposals, and both final and interim rules, with real-time alerts from agencies and authoritative sources.
- Data Extraction: Extract and parse large volumes of complex unstructured and structured data (including PDFs) to summarize changes in regulatory requirements and identify obligations.
- Generate Topics and Tags: Facilitate filtering of information, store alerts in an archive, or collaborate on them immediately with colleagues.
RiskCounts can achieve 20 times faster results by automatically scanning the regulatory landscape within minutes to identify upcoming changes, new guidance, and other pertinent information.
RiskCounts' product helps your team with AI that can:
Workflow the key steps for change
Your challenge
Develop a comprehensive change management plan, encompassing activities from initial scoping to final implementation. This plan should include a detailed analysis of impact and risk, as well as strategies for effectively managing the change process.
Your team does these tasks... manually
Your team does these tasks... manually
- Develop a Change Management Plan: Outline the specific steps your team must take to address each group of regulatory changes.
- Assess Change Impact: Determine whether a regulatory alert is relevant to your organization, assess the necessary level of analysis, and identify immediate action items.
RiskCounts' value addition
- Optimize the process through an AI-generated Conditional Workflow tailored to your specific questions and answers, including:
- Is the scope alerted?
- Is an Applicability Assessment necessary?
- Is an Impact Assessment required?
- What action items need to be addressed?
- Is the scope alerted?
RiskCounts achieves this four times faster by offering an AI-generated customized workflow that streamlines scoping, assessment, and change processes, while also tracking the changes.
RiskCounts' product helps your team with AI that can:
Perform an Applicability Analysis
Your challenge
Evaluate the impact of the regulatory change on your organization by conducting a detailed analysis to identify the specific requirements that apply to your business operations.
Your team does these tasks... manually
Your team does these tasks... manually
- Compare Regulatory Versions: Conduct a detailed comparison between the current and upcoming versions of the regulation to identify specific changes.
- Identify Common Requirements: Establish a shared understanding of regulatory obligations by grouping similar requirements.
- Map Regulatory Impact: If feasible, map the applicability of requirements to organizational units, risk categories, business units, products, and services. Flag actionable items and identify trends to prioritize efforts.
- Generate Review Recommendations: If supported by your process, recommend specific policies and controls for review based on the applicability analysis.
- Assess Organizational Impact: Map your enterprise taxonomy (e.g., products, documents, businesses) to evaluate the potential risk of regulatory changes.
Prioritize Realignment: Prioritize the necessary adjustments to ensure ongoing compliance and mitigate risks.
RiskCounts' value addition
- Generating Difference Analysis: Quickly compares the current version of regulations with upcoming versions within minutes.
- Parsing Documents: Automatically extracts changes from document feeds, including titles, sections, and types (informative, prescriptive, prohibitive) to distinguish between actionable and non-actionable changes.
- Mapping Applicability: Automatically aligns requirements with the organization, risk categories, business units, products, and services, flagging potentially actionable items and identifying trends for prioritization.
- Generating Recommendations: Suggests which policies and controls should be reviewed based on the applicability analysis.
- Continuous Improvement: Utilizes 4CRisk’s Private AI Model to learn and predict organizational relationships, such as business units, functions, products, and services.
- Confidence Rating: Provides a confidence rating on what is mapped or matched effectively.
RiskCounts can generate an Applicability Analysis 5 times faster by parsing and conducting a Difference Analysis in just minutes.
RiskCounts' product helps your team with AI that can:
Conduct Impact Assessment
Your challenge
Conduct an analysis to identify and rank the effects of changes in regulations, laws, rules, and standards on your internal documents, including policies, contracts, procedures, and controls.
Your team does these tasks... manually
Your team does these tasks... manually
- Conduct a structured analysis to evaluate the impact of regulatory, legal, and standards changes on internal policies, contracts, procedures, and controls.
- Prioritize items that require adjustments to maintain effective risk management and alignment of policies, procedures, controls, and contracts.
- Develop summaries of changes and their impacts to support legal and compliance documentation, such as Law Memos and Action Plans.
- Ensure the impact assessment maps relationships across business units, functions, products, and services.
RiskCounts' value addition
- Support for SME’s Judgement: Assists in evaluating Criticality, Priority, and Due Date to enhance AI-generated Impact Analysis.
- Gap Assessment Visualization: Offers a Sankey Diagram for reviewing gaps, highlighting the impact of proposed or new obligations on compliance and governance documents, making it easy to identify full, partial, or missing coverage of upcoming changes.
- Ask Co-Pilot: Quickly answers queries related to risks, policies, procedures, controls, and contracts.
- Summarized and Prioritized Changes: Provides support for legal and compliance reports, such as Law Memos and Action Plans.
RiskCounts can achieve a 3X faster impact assessment generation, completing it in minutes while prioritizing changes needed to internal artifacts to align with upcoming regulatory changes.
RiskCounts' product helps your team with AI that can:
Manage change to Completion
Your challenge
Develop issues and action plans with relevant details about the change to ensure it is managed by the appropriate subject matter experts (SMEs).
Your team does these tasks... manually
Your team does these tasks... manually
- Prioritize actions needed to close identified gaps.
- Raise issues and establish action plans to assign tasks to the appropriate SMEs for changes in the Issue Management system of record.
- Update documents, including policies and controls, based on identified gaps from the impact analysis.
- Develop and report program updates to regulators, business stakeholders, and third parties.
RiskCounts' value addition
- Automatically track remedial actions: Integrate seamlessly with existing Issue Management systems.
- Utilize Co-Pilot: Quickly and accurately address queries to assist in action planning, providing language suggestions to bridge policy and control gaps.
- Deliver intuitive metrics, dashboards, and reports: Offer insights on program performance for regulators, businesses, and third parties.
RiskCounts can achieve results three times faster by generating issues and action plans with relevant information for SMEs regarding changes.
RiskCounts' product helps your team with AI that can:
By improving the efficiency and responsiveness of legal, government relations, regulatory affairs, and compliance teams, we can better adapt to market fluctuations.
We aim to assess the broader implications of regulatory changes on our business and external risks, streamline updates to customer products while minimizing legal and compliance burdens, ensure alignment of our policies and procedures with regulatory requirements, foster collaboration across teams to implement changes efficiently, and enhance our enterprise taxonomy to streamline compliance artifacts.
