The ServiceNow® Regulatory Change Management application provides a streamlined end-to-end process for managing regulatory changes. You can integrate content from various regulatory intelligence providers and constantly monitor your regulatory horizon. Use robust workflows to assess the applicability and impact of regulatory events, map them with internal GRC objects, and execute the regulatory changes. Configurable reports and dashboards with notifications and alerts increase the transparency of regulatory compliance across the organization.
• Integrate with regulatory intelligence providers and RSS feeds (see ServiceNow Store for integrations) for horizon scanning to proactively manage changes before they are implemented.
• Easily create and manage regulatory taxonomy in ServiceNow that is agnostic of any regulatory intelligence provider. Map the taxonomy from multiple providers to an internal taxonomy.
• Perform impact assessments on regulatory events using highly configurable impact assessment methodologies and overall impact rating calculation formula.
• Implement changes that have been identified, track the implementation progress, create issues, if required, and record the changes as evidence.
• Get an overview of your regulatory compliance program and drill into details as required using configurable reports and dashboards.
New
- The regulatory alert summarization skill uses additional input data when generating a summary. The summary output includes new sections such as alert overview, scope, actions and outcomes, and velocity analysis.
- AI Data Explorer integration is supported to enable regulatory change managers and users to analyze regulatory data using natural language queries.
- Question bank is supported in Smart Assessment templates.
- The Regulatory assessments tab in GRC Tasks displays regulatory alert for an assessment in the Record column.
- Compliance library records, including citations, control objectives, controls, and policies, include a Regulatory action tasks tab that links the action tasks linked to these records for improved traceability.
- Impacted entities can be filtered by AI recommendations and impacted areas when initiating a risk assessment.
- Regulatory alert number is displayed on the Details tab of an alert.
Changed
- Functional domain field updated in regulatory body management. The functional domain field is now a list instead of a reference field, with active reference qualification applied in regulatory agency and regulatory feed tables.
Fixed
- Component not configured pop-up has been resolved on the regulatory alert form.
- Smart Assessment due date behavior in Regulatory Change Management has been corrected.
Required plugins and products dependencies
- GRC: Policy and Compliance
- GRC: Advanced Risk
Role required to install the application : System administrator (admin)
When you upgrade this application, make sure to upgrade any other installed GRC applications to the equivalent release version. For example, Regulatory Change Management version 18.x is certified to work with other version 18.x GRC applications.