Impact radius for regulatory alerts of type regulatory event
Summarize
Summary of Impact radius for regulatory alerts of type regulatory event
The Impact Radius feature in the Regulatory Change Management application enables ServiceNow customers to assess and quantify how regulatory events affect various aspects of their organization. Specifically designed for regulatory alerts of the typeregulatory event, this capability goes beyond just citations to include a broader range of impacted areas. This helps in calculating the overall impact of regulatory changes on compliance and risk posture.
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Key Features
- Impacted Areas: A new table named
sngrcregchangeimpactedareacaptures multiple impacted items such as citations, control objectives, policies, authority documents, controls, acknowledgment campaigns, policy categories, policy exceptions, risk statements, risk frameworks, and risks. This comprehensive approach allows customers to consider all relevant business operations affected by regulatory events. - Impact Radius Calculation: When impacted areas are added to a regulatory alert and assigned to a user, marking the alert as applicable automatically generates regulatory tasks. These tasks are assigned to users who, upon responding, trigger the creation of action tasks for each impacted area. Customers also have the flexibility to manually add additional action tasks beyond those generated automatically.
- Regulatory Alerts Types: The system supports two types of regulatory alerts—Regulatory Event and Source Document. The Impact Radius functionality applies specifically to alerts of the Regulatory Event type.
- Compliance Workspace Integration: The Compliance Workspace is enhanced to visually display regulatory changes organized by impacted areas within the Tracking widget, providing a clear and actionable overview for users.
Key Outcomes
- Comprehensive assessment of regulatory events across multiple impacted areas, improving visibility into the breadth of regulatory change effects.
- Automated generation and assignment of regulatory and action tasks based on impacted areas, streamlining regulatory response workflows.
- Improved ability to track and manage compliance risks through integration with the Compliance Workspace, enabling timely and informed decision-making.
- Reduction of reliance solely on citations, enabling a more holistic approach to regulatory change management.
Adding impacted areas to a regulatory alert of type regulatory event helps to calculate the impact radius of a regulatory alert. Impact radius typically refers to the extent to which a regulatory change affects an organization.
Impacted areas
The regulatory events that could have an impact on the compliance or risk posture of your organization should be assessed. Calculating the impact radius is a method for assessing the impact of the regulatory event on the GRC objects and for suggesting action tasks based on the assessment of the impact. The Regulatory Change Management application supports the impact radius calculation process for a regulatory alert. Calculating the impact radius is a method of automatically creating action tasks for the users.
- Regulatory event
- Source document
- Citation
- Control objective
- Policy
- Authority document
- Control
- Acknowledgment campaign
- Policy category
- Policy exception
- Risk statement
- Risk framework
- Risk
Impact radius calculation
When you add impacted areas to regulatory alerts of type regulatory event, assign it to a user, and the user marks the alert as applicable, regulatory tasks are automatically generated. The regulatory tasks are then assigned to a user. When the assigned user of the tasks chooses to respond to the tasks, action tasks for each impacted areas are generated. However, you can also manually add more action tasks, other than the ones that are automatically created based on the impacted areas.