Streamline and simplify policy management
Organizations that have a streamlined and aligned approach to policy management reduce their compliance risk and improve their performance. Our solutions help to simplify all aspects of policy management across your business.
Aligning policies with change
Tracking regulatory change and understanding how this change applies to your organization can be a very resource-intensive task. Many organizations devote hundreds of person-hours each year to tracking new rules issued by the relevant regulators and mapping them to their internal policies.
Even when significant resources are devoted to this task, organizations still struggle with collating, analyzing, and then disseminating the relevant information to the right people at the right time.
As a result, policy change implementation projects can fall behind, or even worse, fall off the radar screen altogether.
Creating repeatable policy processes
As a result, many organizations are now creating policy management frameworks. The drive behind this is the need to reduce compliance risk by making regulatory change “business as usual.”
By simplifying and streamlining the policy change management process, organizations can remove the complexity that arises from policy change implementation, thereby eliminating additional layers of compliance risk. These organizations are finding that such frameworks, once implemented, also help provide evidence to regulators and other stakeholders that policy changes have been identified and implemented properly.
Organizations who are considering policy change frameworks are asking themselves if they:
- Have failed to identify required policy changes in the past
- Spend significant time and resources on identifying potential policy change issues
- Struggle to manage sign-off processes to changes in policy
- Find implementing policy change education programs difficult and time-consuming
- Are challenged to present proper evidence of effective policy change to key stakeholders, including the Board and regulators.
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