Regulatory Change Management

Understanding the 'WHY' of regulations is critical. This includes the three 'I's- Intent of the law, Interpretation of the law and Implementation of the law. This is the number one reason why most organizations fail in operational risk management. As regulations/standards change, it warrants changes to policies, procedures, processes, and documents. Most financial institutions don’t have a sophisticated system to push the changes in regulations to the rest of the organization so people are not caught off guard.

Automating the process of mapping regulations to internal controls or operational controls helps build internal consensus around internal controls library and a common taxonomy which is hard to get through manual and disjointed tools such as excel, sharepoint, and other homegrown non-intuitive tools.

Unlike other solutions, our Risk and Compliance system offers a fully automated regulatory change management feature integrated with a repeatable governance process. This unique combination delivers operational agility, reduced compliance burden, and continuous improvement. Coforge empowers businesses with comprehensive manual and compliance tools, centrally managing regulatory changes across all departments. This integrated approach streamlines compliance workflows, ensures consistent application of regulations, and reduces risk exposure.

We provide real-time dashboards, automated reporting, and regulatory impact analysis. Our services assist large banks globally with RCM (Regulatory Change Management) in the areas of Regulatory Intelligence, Regulatory updates, Change Assessment, and Change Implementation.