Regulatory alerts
Summarize
Summary of Regulatory Alerts
Regulatory alerts provide a consolidated view of various regulatory events and documents sourced from multiple intelligence providers. These alerts are essential for staying updated on regulatory changes, which can significantly impact compliance efforts. The Regulatory Change Management application organizes these alerts into tables, enabling effective management of regulatory changes.
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Key Features
- Types of Alerts: The system supports regulatory event alerts and source document alerts. Regulatory event alerts offer updates on general regulatory changes, while source document alerts focus on specific citation changes.
- Task Creation: Alerts generate specific regulatory tasks when marked applicable by users with appropriate roles, facilitating timely evaluation and updates of GRC objects or citations.
- User Role Management: Different user roles can access and manage alerts. Admin and manager roles have full access, while user roles can only view assigned alerts.
- Automated Cleanup: The application features table cleaners that automatically manage and clean records marked as not applicable, ensuring efficient data management.
Key Outcomes
By leveraging regulatory alerts, ServiceNow customers can enhance their compliance processes by:
- Staying informed about critical regulatory changes.
- Efficiently managing and implementing actions required for compliance.
- Utilizing machine learning to recommend citations, streamlining the compliance workflow.
- Assigning relevant alerts to appropriate users, ensuring accountability and timely response.
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.