Manage the regulatory change tasks

  • Release version: Washingtondc
  • Updated February 1, 2024
  • 2 minutes to read

    • Manage the regulatory action tasks in the Regulatory Change Tasks module so that you can use these tasks to identify and comply with the regulatory changes.

    Before you begin

    Role required: sn_grc_reg_change.manager or sn_grc_reg_change.user

    About this task

    Regulatory change tasks are automatically created whenever a regulatory event alert is marked as applicable after the applicability assessment. Regulatory Compliance team members craft an action plan to identify the changes that need to be implemented so that your organization complies with the regulatory change.

    Procedure

    1. Navigate to All > Application > Regulatory Change Management > Regulatory Change Tasks.
    2. Select a regulatory change task.
    3. On the form, fill in the fields.
      Table 1. Regulatory Change Task form
      Field Description
      Assignment group Assignment group of the task. The group is selected from the Group Hierarchy table.
      Approver type User or group who approves the task.
      Due date Due date for the regulatory change task.
      Regulatory alert Name of the regulatory alert.
      Instructions Instructions for the task.
      Assigned to Name of the user who is assigned the task.
      Approver Approver of the regulatory change task. When the approver type is Group, the request is sent to the group members.
      Approved on Date when the regulatory change task is approved.
      Watch list Watch list to add interested users.
      Worknotes list Users interested in the work notes.
      Work notes Log of the work notes.
      Activities Log of the activities.
      Related list
      Action Tasks Action tasks related to the regulatory change tasks. Click New to create an action task in response to the regulatory change task.
      Note:

      If there are action tasks that are in progress when the parent regulatory task is closed manually, all the associated action tasks are moved to the Cancelled state with the following warning message: Action tasks for this Regulatory Change Task/Document Import Task are in-progress. Clicking OK will cancel them. Do you want to proceed?

      If there are no action tasks associated or if the action tasks are closed, the following message is displayed: Are you sure you want to close this task? Click OK to close the task.
      Issues Issues observed during the regulatory change workflow or source document workflow.
      Approvers Approval records that get created when an approval is requested.
    4. Click Update.
    5. If you want to add new action tasks that are related to the regulatory change task, click New in the Action Tasks related list.
    6. To request an approval on the regulatory change task, log in as an approver and click Request Approval to request an approval.
      The state of the regulatory change task is updated to the Awaiting Approval state. In the Approvers related list of the regulatory change task, the state of the approval is updated to Requested. The manager with the sn_grc_reg_change.manager role, the user with the sn_grc_reg_change.user role, or the admin user with the sn_grc_reg_change.admin role can view the request in My Approvals of the regulatory change tasks.
    7. Select Approve to approve the request.

    Result

    The request is approved. The regulatory change task moves to the Implementation state. When the action task associated with the regulatory change task is completed, the regulatory change task is closed.