Regulatory alerts
Summarize
Summary of Regulatory alerts
Regulatory alerts in ServiceNow’s Regulatory Change Management application aggregate regulatory events and documents from multiple intelligence providers. These alerts act like dynamic records of regulatory changes, helping organizations stay informed and compliant. The application transforms and maps these alerts into structured tables, initiating a lifecycle that supports translating, planning, and implementing compliance actions.
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Types of Regulatory Alerts and Associated Tasks
- Regulatory event alerts: These are general alerts that provide updates and insights on regulatory changes, typically generated from RSS feeds.
- Source document alerts: These signify specific changes to citations within authority documents, available when integrated with third-party providers like Thomson Reuters. They focus on precise updates to regulatory citations.
Each alert type triggers specific regulatory tasks upon being marked applicable by authorized users:
- Regulatory change tasks: Created for regulatory event alerts to evaluate and update GRC objects such as policies and controls.
- Source document import tasks: Created for source document alerts to update or insert citations in the regulatory library.
Alert Management and User Roles
Alerts can be assigned or unassigned. Assigned alerts have a coordinator and can be allocated to users with roles such as sngrcregchange.manager, user, or admin. Unassigned alerts can be actioned upon by authorized users with options like updating, deferring, initiating impact assessments, marking as applicable or not applicable, canceling, or deleting.
When an unassigned alert is marked applicable, the corresponding task is automatically created. Alerts marked not applicable are closed with comments.
Alerts go through different states: New, Deferred, Impact Assessment, In Progress, and Closed.
Role-based access: Admins and managers can access all alerts, while users can only view alerts assigned to them.
Maintenance and Automation
The application includes table cleaners to automatically remove alerts marked as not applicable and processed registry file records. Only admins can configure and execute these cleanup activities, specifying timing and frequency.
Practical Actions and Enhancements
- Users can perform various actions on alerts including assignment, impact assessment initiation, and applicability marking.
- Integration with the GRC: Predictive Intelligence application enables adding AI-recommended citations to alerts.
- Machine learning capabilities can be activated via the Governance, Risk, and Compliance Predictive Intelligence plugin to automatically recommend citations, improving accuracy and efficiency.
- Both regulatory event alerts and source document alerts can be managed and assigned to appropriate users for further action.
Regulatory alerts are an aggregation of different regulatory events and documents that are sourced from multiple regulatory intelligence providers. Similar to web feeds, a regulatory alert is a record of these regulatory changes. Such changes are frequently updated, and the alerts help you stay informed about the regulatory landscape.
The Regulatory Change Management application transforms and maps the alerts. The application provides the information in regulatory alert tables.
The Regulatory Change Management life cycle starts with the regulatory alert record. Each regulatory alert record contains metadata that helps stakeholders to translate the changes, create an action plan, and implement actions to comply with the regulatory changes.
With the Regulatory Change Management application, you can use the regulatory alerts to inform the users about regulatory updates.
Types of alerts and associated regulatory tasks
Different types of alerts are displayed under the Regulatory Alerts module in the Regulatory Change Management application.
- Regulatory event alerts: Signify alerts, provide updates to news, and provide insights on regulatory changes. Alerts are by default regulatory event alerts. All RSS feeds result in a regulatory alert record.
- Source document alerts: Signify changes to the citations. Citations are like various sections of an authority document. ServiceNow® GRC offers the Network Frontiers Unified Compliance Framework (UCF) integration. The integration creates authority documents after the import, and it creates corresponding citations under each authority document. When an existing citation is updated or a new citation is inserted, it signifies a change in the source document. Source document alerts are only available when integrating with a third-party regulatory intelligence provider; for example, Thomson Reuters.
The difference between a regulatory event alert and a source document alert is scope. Regulatory event alerts signify general alerts for general changes and for upcoming regulatory changes. In contrast, source document alerts signify changes that are specific to the citations. When an existing citation is updated or a new citation is inserted, it signifies a change in the source document.
- Regulatory change task: This task is created for regulatory event alerts. The task is used to evaluate the changes and to update the GRC objects, such as policies, controls, and risk statements in the library.
- Source document import task: This task is created for source document alerts. The task is used to update an existing citation or to insert a new citation that is received from the provider into the regulatory library.
Alerts and user roles
Alerts can have different states. The main property of an alert is whether it’s assigned or unassigned. For assigned alerts, the Coordinator field has a value. An alert can be assigned either to a user with the sn_grc_reg_change.manager role or the sn_grc_reg_change.user or sn_grc_reg_change.admin role. In contrast, an unassigned alert isn’t assigned to anyone.
- Update
- Applicable
- Defer
- Initiate Impact Assessment
- Not Applicable
- Cancel Regulatory Alert
- Delete
When an unassigned regulatory event alert is marked as applicable, a regulatory change task is created. When an unassigned source document alert is marked as applicable, a source document import task is created.
When an unassigned alert is marked as not applicable with due comments, its state is updated as Closed in the regulatory alert form.
- New
- Deferred
- Impact Assessment
- In Progress
- Closed
In terms of user roles, all alerts can be accessed by users with either the sn_grc_reg_change.admin role or the sn_grc_reg_change.manager role. Users with the sn_grc_reg_change.user role can view assigned alerts that are assigned to them, but they can’t view unassigned alerts or alerts that are assigned to other people.
Table cleaners for regulatory alerts
The alert records that are marked as not applicable must be cleaned at regular intervals. The Regulatory Change Management application provides table cleaners for cleaning the alert records automatically. Users specify the time and frequency for the cleanup activity. Only users with the sn_grc_reg_change.admin role can perform cleanup activities.
Similarly, registry file records that have been processed can be cleaned at specified time intervals.