- Unique combination of content, taxonomy and enterprise software
- Driven by Thomson Reuters award-winning regulatory and risk content
- Empowers compliance risk management across your organization
- Implemented by our world-class professional services team of risk and compliance experts
In today's highly-regulated environment, effective regulatory change management needs to be a sustainable and repeatable process. Compliance organizations need to be able to implement change programs without having to focus on managing the process itself. Evidencing these changes to senior management, the board and regulators, is also of crucial importance. Compliance professionals need to be enabled to actively manage regulatory change with speed and precision. Our structured approach helps your organization avoid the high cost of non-compliance, better manage compliance resources, and drive a more strategic approach to business decisions.
Capture Regulatory Change
The use of traditional 'manual' approaches such as spreadsheets and ad-hoc processes to manage regulatory change are no longer sufficient in the current regulatory landscape. If your organization is not able to anticipate compliance risk, how can your team take regulatory change into account when shaping business strategy?
Thomson Reuters Compliance Manager connects regulatory change management processes to Thomson Reuters Regulatory Intelligence. Thomson Reuters Regulatory Intelligence is powered by a global team of Thomson Reuters journalists, editors and subject matter experts, providing the information you need to interpret emerging legislation and regulation and apply it to the context of your own industry and organization. Thomson Reuters Regulatory Intelligence covers more than 500 regulators and over 900 rulebooks globally. The Thomson Reuters Regulatory Intelligence team issues an average of 130 regulatory alerts daily, coupled with expert analysis to ensure your organization is receiving all of the relevant information necessary to make informed business decisions. This information powers the regulatory change management engine, ensuring that you never miss an important regulatory event and that you action the necessary changes quickly and effectively.
Content sets include:
- Financial services
Understand Your Regulatory Profile
The Thomson Reuters team of compliance experts provides organizations with a view of their baseline regulatory position across jurisdictions. Our compliance experts can assist organizations in creating an inventory of regulations relevant to the business. After understanding your organization's risk categories and taxonomies, the Thomson Reuters team will perform a gap analysis by reviewing each rule and mapping it to the appropriate business unit, policy and procedure.
Communicate about Compliance
Thomson Reuters Compliance Manager enables organizations to report on compliance quickly and easily, using:
- Online dashboards, to provide organizations with real time views of data in a graphical format, and are configurable, drillable, and the information can be exported for further reporting.
- Ad hoc reporting, which enables end users to render reports in HTML, Microsoft Word, or Excel formats. Report templates can be stored for re-use and may be made private or public.
- Enterprise Board Reporting, which combines the features and capabilities of Microsoft Word with compliance information to enable report designers to configure information. Organizations can adapt the 'look and feel' to match the preferred business template.
- Advanced reporting, which provides organizations' report designers with increased capabilities, which include full charting features, heat map creation, embedded calculations, and conditional formatting.
Manage the Change Process
Through Thomson Reuters Compliance Manager, compliance executives can:
- Establish precise relationships between regulations and internal business structures, policies, and risks
- Link regulatory events to the relative risk, policies and controls and communicate this to the respective business owners
- Manage and share regulatory information, risks, policies, controls, tests, and management remediation data stored in a central library
- Document and manage impact assessments related to the impact and applicability of regulatory events, and the required actions to be in compliance
- Centralize issue management and remediation plan documentation for compliance-related processes
- Increase compliance transparency with robust, configurable reporting delivered through alerts, status reports, and dashboards
- Enable data capture, workflow and reporting to support compliance activities including: investigations, supervisory controls, filing tracking, and regulatory certifications
Create Connected Compliance
Thomson Reuters Compliance Manager is an integrated part of the Thomson Reuters portfolio of risk management solutions, designed to help your organization drive a connected, value-enhancing approach to governance, risk and compliance (GRC) as well as enterprise risk management. By connecting Thomson Reuters Compliance Manager with your organization's other GRC efforts you can:
- Increase alignment between the risk and compliance functions
- Make audits of compliance operations easier and more efficient
- Deliver a joined-up view of compliance risk to senior management and the Board