REGTECH SOLUTIONS
Regulatory Horizon Scanning
FinregE’s Regulatory Change Viewer© provides a regulatory horizon scanning and change management solution that harnesses the power of automation and intelligent software to deliver the following functionalities:
- A tailored feed of all applicable regulatory publications and data required to be tracked against an institution’s regulatory and legislative footprint, to support regulatory change management and horizon scanning.
- Regulatory publications can be tagged to institution specific topics, themes, products, services, customer types, sectors and businesses to reduce the noise from unwanted publications content.
- Connectivity of regulatory change publications to internal governance, risk and compliance data such as policies, processes and controls for informed impact information and analysis.
- Workflows for circulating relevant publications and items to relevant owners
- Customised analysis and actions management workflow to add institution and department specific commentaries on impacts, materiality, actions and implementation steps against regulatory change.
- Built in collaboration across departments such as legal, compliance, business, functional, product, risk and process owners to allocate responsibilities and oversight.
- Ability to add gaps against multiple existing versus future rule requirements and internal policies and processes
- Management information, reporting and dashboards on all relevant regulatory change items impacting an enterprise with identifiable by impacts rankings, ownership and status in lifecycle of regulatory change impact and implementation.
What is regulatory horizon scanning and regulatory change management:
What is regulatory horizon scanning and regulatory change management:
Regulatory horizon scanning is the process of identifying and staying informed on upcoming trends and changes in legal and regulatory requirements. It also involves analysing the requirements under the regulatory changes identified, logging the requirements, identifying and allocating owners who will deal with the requirements and actions that need to be taken, and implementing the actions against requirements and changes with recorded evidence of implementation.Performing regular horizon scanning can help institutions gain adequate time and organisation to respond and be prepared for regulatory changes and developments that can have an impact on regulatory compliance.
FinregE Regulatory Horizon Scanning Features
Regulatory publications, news and alerts organised by regulator, country, regulation name and links to source websites.
Large breadth of coverage across global jurisdictions, regulatory sources and types of publications.
Daily refresh of content with publication updates every hour throughout the day.
Regulatory publications content in local and translated languages as required.
Classified and tagged content by relevant applicable information such as sectors, themes, publication types and regulatory/legislative topics.
Suggested impact ratings driven by connected regulatory publications content to internal compliance data such as policies, processes, risks and controls.
Suggested impact and materiality analysis on areas of risk and control environment based on FinregE expert know-how.
Tracking of regulatory and legislative content through the evolution of policy development cycle.
Task and workflow management covering assigning, mapping, and tracking regulatory developments.
Impact assessments to determine impact by relevant change criteria and rank regulatory changes and developments by impact.
Dashboards, analytics and reporting driven by regulatory publications and internal workflow actions to generate informed management information for oversight and regulatory horizon monitoring.
Full audit trials of relevant versus discarded regulatory development items, and actions being taken across regulatory horizon scanning process.
NEWSLETTER
FinregE Weekly Regulatory News Alerts
Stay up-to-date with the latest regulatory changes. Sign up to FinregE’s weekly regulatory alerts news.
FEATURES
FinregE’s Compliance Solutions
Monitor compliance in real-time: both your status and processes
Access machine-readable libraries of financial global rulebooks
Extract insights on regulatory actions and requirements across rules
Map rule requirements automatically across your compliance policies
Use workflows to action and record the life cycle of regulatory compliance
Conduct compliance reporting with dashboards to view your landscape
FAQs
Frequently Asked Questions
Our regulatory horizon scanning tool can remove the complexity of financial compliance by bringing the latest updates from different regulatory bodies to your system. Our horizon scanning tool monitors regulatory news sources, providing alerts and regulatory updates on emerging issues and relays the latest information to relevant teams to ease the compliance process. The compliance horizon scanning platform is designed for client-facing, compliance, and capital-planning teams.
Horizon scanning compliance is a proactive and futuristic strategy that anticipates regulatory changes that might come into play so a financial institution is ready to implement the update from the day the relevant regulations are passed.
Horizon scanning seeks to make compliance more streamlined and effective by ensuring regulatory teams stay ahead of potential updates.
Banks can leverage this approach to compliance by using AI-driven RegTech to scan upcoming updates and stay informed about potential rule changes. Scanning updates in this way makes staying in line with industry regulations a more streamlined and efficient activity because regulatory teams can make pre-emptive changes instead of reacting to new policies and standards after they’ve been passed.
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