When you have to be right

Financial Services

Regulatory Change Management

Today’s financial services organizations continue to be challenged with a seemingly never-ending flow of changes to laws and regulations impacting how they do business. Failing to fully appreciate the scope of these changes, or the impact to operations, presents real compliance risks. Solving these challenges while maintaining compliance and providing the required transparency for regulators and the business alike is essential to a solid compliance program.

The content you need. The solution that helps.OneSumX® for Regulatory Change Management takes complex regulatory changes and pares them down to what you need – structured, value-added content paired with a winning software solution. By linking regulatory changes to their respective regulatory rules, you receive immediately actionable content that allows you to focus your time on business impact and strategy, and less on enrichment and determining applicability. Additionally, this content flows through a single data feed format, which simplifies integration and makes reporting easier and more accurate.

An integral part of your compliance risk program It’s not enough to just update policies when regulations change. Project and action plans are necessary to assess the overall impact on your organization. Whether that impact assessment means a product that offers revisions, executive management education, compliance risk assessments, audit programs, or other compliance-required changes, you have to be able to move quickly and efficiently with accurate, tailored data. Increased attention to risk exposures means regulators want to know if your organization can:

• Catalog all laws and regulations that it is beholden to, across all business lines and jurisdictions in which it operates

• Manage these obligations in an appropriate manner

• Provide evidence at the point of examination, or to investors, that it has fully implemented and fulfilled all regulatory requirements using point-in-time reports

With so much on the line, you can’t afford to make a mistake or delay response.

A centralized approach drives greater control, efficiency and certainty. OneSumX for Regulatory Change Management treats compliance holistically as a program:

Track regulatory developmentsWith over 400 full-time content sourcing and analysis employees, and an extensive network of partners and contractors, we can deliver rules and regulatory changes from any line of business and jurisdiction on a global basis. Our content sets include policies and procedures, risk and control libraries, and compliance monitoring tests.

• Track developments across a comprehensive list of agencies

• Gain visibility into key regulatory information and link to original source content

• Continuously update changed regulatory information

Assess the impactOnce you have a continuously updated regulatory library, you need to manage the process of reviewing regulatory and legislative developments throughout your organization in order to ensure appropriate implementation plans are executed.

• Assess developments against existing regulations, directly referencing the letter of law, expert analysis, and regulatory guidance

• Generate workflows, assignments, tasks, and automate follow-ups

• Establish a centralized and holistic approach to compliance change management with full audit trail capabilities.

Gain transparency Finally, you need visibility into the current state of your regulatory management program. With consolidated reporting and dashboards designed to be shared with senior stakeholders, better decisions can be made.

• Create user-defined or ad hoc reports to track regulatory developments and the current state of your program

• Aggregate real-time reports into dashboards for senior management, individual lines of business, and regulatory agencies

• Get immediate visibility into development trends, providing critical insights for compliance and risk management committees

Regulatory changes linked to regulatory library

Consistent, actionable content

Regulatory changes NOT linked to regulatory library

Others

OneSumX®

Inconsistent un-enriched content

High risk of missing key regulatory change

Inefficient, manual processing needed

Quickly analyze business impact

Easy & accurate reporting

Contact us today to learn how our solutions can be tailored to your compliance needs. Please visit WoltersKluwerFS.com or call 1-800-261-3111. You can also email us at CPM-Sales@wolterskluwer.com.

When you have to be right

CS-19-5050 321705400 Regulatory Change Management Solution Primer

Contact information:

Wolters KluwerGovernance, Risk & Compliance111 8th Avenue, 13th Floor New York City, NY 10011 United States

Wolters Kluwer130 Turner StreetBuilding 3, 4th FloorWaltham, MA 02453United States+1 800 261 3111

Wolters Kluwer25 Canada Square, 41st Floor,Canary Wharf,E14 5LQ London,United Kingdom+44 20 3197 6600

For more information about our solutions and organization, visit WoltersKluwer.com, or for our financial services solutions, visit WoltersKluwerFS.com.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2018 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.

© 2019 Wolters Kluwer Financial Services, Inc. All Rights Reserved.