Robust compliance dashboard and enhanced mapping improve ability to mitigate risk in volatile environments
Organizations facing regulatory overload can now benefit from powerful new tools to help them better manage their compliance workflow as Thomson Reuters introduces Regulatory Change Management (RCM), its new end-to-end compliance solution.
RCM, offered by Thomson Reuters Enterprise Risk Services, is a versatile compliance workflow system. Via the RCM dashboard, compliance teams can connect standardized regulatory rules to their own procedures for optimal mitigation of their risk. Users can tailor the information they receive through predefined and customized taxonomies, as well as the frequency of their notifications about regulatory changes.
Integral to the adaptability of RCM is how it integrates regulatory content from Thomson Reuters and third party platforms, mapping this data directly into firms’ internal policies and procedures. This allows organizations to manage their regulatory change management processes from end-to-end and is fully auditable, enabling easy tracking for regulators and examiners. The launch of RCM follows Thomson Reuters acquisition of Empowered Systems, a UK-based regulatory technology provider in March 2016.
Users of the integrated RCM module can reduce an organization’s administrative workflow and costs, as it enables it to consolidate, verify and process more effectively the often duplicative requirements lodged within regulations and directives, as well as in regulatory and legislative materials.RCM has been implemented successfully by organizations in the Americas, the UK, and Continental Europe.
Source: Thomson Reuters Press Release