Automate obligation and regulatory event management

The Problem Statement

Enterprises are swamped with the number of Legislative Instruments and associated Obligations that must be complied with. The ability to manage all Legislative Instruments and Obligations in a single consolidated process and system is a significant challenge in all enterprises, and all regulated Industries.

Compliance Teams must identify, assess and respond to multiple regulatory change events every month. This involves numerous stakeholders including but not limited to:

• Compliance and Risk teams
• Legal teams
• Obligation owners
• Control owners

Regulatory events may be a new obligation, a change to an existing obligation, or an indicator of a change, such as a consultation paper, or guidance note released by the regulator.

The number of regulatory events is increasing and so automation to accommodate the change management process is essential.

The current volume of Obligation changes is increasing year on year, for example, the number of Acts and Regulatory changes within Australia for 2017 are shown below:

The Answer

Use the Enable developed ServiceNow GRC and LexisNexis integration rapid seed, to fast track the creation, and management, of your Legal and Regulatory Obligation register.

Receive daily Regulatory Events directly from LexisNexis into ServiceNow GRC and manage the review and actions needed to stay up to date, and on top of Regulatory Events.

Manage LexisNexis Core and Industry-specific content directly in ServiceNow GRC:

 

 

Key Benefits of combining LexisNexis and ServiceNow

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