Any out of the box functionality for Market Conduct exams in servicenow GRC/IRM?

[KshitijaS]

Does Servicenow IRM provide any out-of-the-box functionality for Market Conduct Exams?

We are evaluating how to handle Market Conduct Exams in IRM. I'm trying to determine if there is anything available ootb to support these regulator driven exams or if this needs to be modeled through customization.

Specifically:

* Is there an existing GRC table or module that supports regulatory exams such as market conduct exam?

* If not, what should be the recommended approach - extend any grc table or build a custom exam table and relate to issues ?

The idea is to treat the exam as an "appendix" to an issue - not every record will have one but those that do need to capture additional data such as users involved (legal, business, other roles) with start and end dates with indicator if a fine was encountered.

Any guidance or examples from others who have implemented this would be helpful.

[Rakesh Chigari]

@KshitijaS  I don't think there is out of the box solution for your use case (reach out to your ServiceNow account executive for confirmation, if there is anything as such, or if it is there in future roadmaps)

If you can share more details on the use case, possible workaround can be explored. 

[KshitijaS]

Sure, so regulators periodically conduct Market Conduct exams to evaluate compliance with regulations. These exams involve a defined set of participants (legal, business etc) and may result in findings, fines or regulatory issues. Currently, IRM tracks issues, loss events and financial impacts, but there is no native mechanism to track the exam itself as a discrete object. Instead of overloading the issue form with conditional fields, the business requires a lightweight structured way to capture exams and associate them with related IRM objects - related issues, related loss events, related policies or controls. Also, ability to associate a small number of users to each exam, may be leverage the event tracker for tracking fine dollars. 

So, what could be the best approach? 

Should we create a custom table for market conduct exam which will also have reference to authority document or external entity and then create a child table for exam participants to capture who was tagged to the exam? After that maybe we can associate exams with issues.