Assess the impact of a regulatory event alert

Assess the impact of a regulatory event alert by creating an assessment on the regulatory event alert. Assign the impact assessment to the owner of the business entity that is affected by the alert.

Before you begin

Role required: sn_grc_reg_change.user

About this task

As a user with the sn_grc_reg_change.user role, you can review the regulatory event alert and initiate an impact assessment on the alert.

Procedure

1. Log in with the sn_grc_reg_change.user role.
2. Navigate to All > Regulatory Change Management > Compliance Workspace.
   The Regulatory Change Management application in the Compliance Workspace is displayed.
3. Navigate to Lists > Assigned Regulatory Alerts view.
4. Select the regulatory event type alert that is assigned to you as the coordinator of the alert.
5. Select Initiate Impact Assessment.
6. Select any entity from the Entities list for the impact assessment and select Create Assessments.
   Note:

   Perform an impact assessment on the regulatory event alert in the classic user interface as the form is not yet migrated to the Workspace. For more information, see Assess the impact of a regulatory alert.

   If no entities are configured, you can configure new entities.

Result

In the Impact assessments related list, the new impact assessment is listed and it is automatically assigned to the entity owner. The entity owner reviews it and sends feedback on the assessment. After completing the assessment, the calculated inherent risk is displayed under the Assessment Summary tab. When the entity owner selects Mark as complete on the impact assessment, it saves the assessment details and marks it as Complete.

What to do next

See Manage regulatory change tasks for information on marking the alert as applicable and managing the regulatory change tasks.