Regulatory Change Management workflow
The workflow for the Regulatory Change Management application involves separate stages for installation, setup, and management.
The Regulatory Change Management application workflow goes through the following
stages. These stages help you to manage regulatory changes:
- Prerequisites: Ensure that the following applications are installed:
- ServiceNow® GRC: Policy and Compliance Management application
- ServiceNow® Advanced Risk application
- Download and install the GRC: Regulatory Change Management application from the ServiceNow Store. For details, see Download and install Regulatory Change Management.
- Assign roles to the users as needed. For details, see User roles in Regulatory Change Management.
- To set up the Regulatory Change Management application, complete the
following steps:
- Create and validate the connections and credentials. For details, see Establish an SFTP or REST API connection.
- Activate the integration flows. For details, see GRC integration with Thomson Reuters Regulatory Intelligence and Set up the RSS feeds.
- Create and map the internal regulatory taxonomy. For details, see Map the taxonomy.
- To manage the workflow, complete the following steps:
- Assign the regulatory alerts. For details, see Manage and assign regulatory event alerts.
- Assess the impact of the alerts and create regulatory change tasks. For details, see Manage the regulatory change tasks.
- Evaluate the action tasks. For details, see Action tasks in Regulatory Change Management.
- Implement the changes and create action tasks. For details, see Create an action task.
- Create and view issues related to regulatory tasks. For details, see Create an issue related to the regulatory tasks
- Provide an overview of the regulatory changes via dashboards and reports. For details, see Regulatory Change Management dashboard.
- Ensure an overall regulatory compliance for your organization.