Regulatory Change Management

Regulatory Change Management (RCM) is a proactive approach to specifically manage when regulations change and the impact of those changes in organizations. Monitoring, identifying and tracking the your organization’s response to regulatory changes are key to RCM, such as financial institutions ensuring compliance when updates are issued from the U.S. Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and Office of the Comptroller of the Currency (OCC).

RCM should be one part of your overall compliance management program. Compliance Management (CM) is the broader process of ensuring that an organization complies with its legal obligations under applicable laws, regulations, codes as well as other standards, guidelines and compliance requirements. It includes evaluating existing procedures and systems to identify any gaps in compliance and implementing appropriate measures to close those gaps.

Yes. You can and it is recommended for a fully integrated compliance management program. You can include assessment reviews and corrective action plans as part of your overall compliance program or audit readiness as well as any control lifecycle management efforts.

Yes. To take full advantage of the automation and analytics capabilities of Onspring with regulatory data, you will need a subscription to a regulatory monitoring service. Adding data from a subscription to Onspring provides comprehensive coverage and centralized management of compliance operations, financial regulatory change, and risk exposure, eliminating the need to log into multiple software systems. Plus, you can initiate action plans from changes in rules or obligations automatically in Onspring.

You will first want to make regulation or rule selections with your preferred regulatory content provider. When Onspring integrates with your provider, that content ports to your Onspring instance, where you will map it to controls and any other compliance relationships. Once those relationships are linked, you can begin automated assessments and reviews.

When used in conjunction with Onspring’s Compliance Management software, your organization creates a fully integrated and automated compliance management program.

Yes. You can implement Onspring on your own once a designated administrator from your organization completes training. However, most customers choose to have Onspring implement for them, as that service is included when you purchase the GRC Suite with some licensing models.

Learn more about our product licensing model.

Yes. Onspring supports integration with systems like Docusign, Microsoft 365, Google Drive, Slack and many more. Expand Onspring’s capabilities further by integrating it with other systems through the Onspring API.

Onspring offers multiple types of training, which can be combined for an ongoing learning experience:

• Onspring Essentials: This immersive class for administrators teaches the fundamentals of configuration and best practices for end-user adoption.
• Bootcamps: These focused training classes for administrators dive deep into specific Onspring features to help you achieve your goals for data management, process automation, and reporting.
• Web Training: On-demand videos are available 24/7 so you can learn to use Onspring on your schedule. Topics include configuring apps, importing data, creating surveys, using formulas, automating processes, and more.
• Free Friday Training: The name says it all. It’s free and held on Fridays twice per month. These 30-minute remote learning sessions often highlight new features so you always know what’s available for use.

Learn more about training.