Manage regulatory change tasks
Manage the regulatory change tasks that are associated with the regulatory event alert. When a business entity owner completes the impact assessment on the regulatory event alert, the user with the sn_grc_reg_change.user role reviews the assessment summary and marks the alert as applicable.
Before you begin
Role required: sn_grc_reg_change.manager, sn_grc_reg_change.user
About this task
The coordinator of the regulatory event alert identifies the steps to comply with the regulatory change and manages the regulatory change task.
Procedure
Navigate to All > Regulatory Change Management application > Compliance Workspace.
The Regulatory Change Management application in the Compliance Workspace is displayed.
Navigate to Lists > Regulatory Alerts view.
Select the regulatory event alert for which a business entity owner has completed the assessment.
Review the impact assessment and mark the alert using one of the following options.
| Field | Description |
|---|---|
| Applicable | Mark the alert as applicable. After marking the regulatory event alert as Applicable, a new regulatory change task is automatically created in the Regulatory Tasks related list in the regulatory alert UI page. |
| Not applicable | Mark the alert as not applicable. When you mark the alert as not applicable, a message window displays. Select one of the following reasons in the Reasons list and select Submit:
|
| Cancel regulatory alert | Cancel the regulatory alert. |
| Defer | Defer the alert to a later date. |
For the applicable alert, select the Regulatory Tasks related list and select the regulatory change task that is created automatically for the alert.
In the Details tab, fill in the form.
| Field | Description |
|---|---|
| Regulatory Change Task | |
| Regulatory alert | Title of the regulatory alert associated with the source document import task. This field is automatically set to display the title of the alert. |
| Instructions | Instructions related to the source document import task. |
| Assignment | |
| Assignment group | Assignment group for the record. The group is selected from the Group Hierarchy table. |
| Approver type | Approver type for the task. Choices are as follows:- User - Group |
| Assigned to | User to whom the regulatory change is assigned. |
| Approver | If the approver type is a group, the Approver group field is displayed. |
| Approver group | If the approver type is a user, the Approver field is displayed. |
| Schedule | |
| Due date | Due date for the source document or regulatory event alert import task. |
| Approved on | Date when the source document import task is approved. This field is automatically set to display the approval date. |
| Activity Journal | |
| Watchlist | Users whom you want to add as watchers for this task. |
| Work notes list | Users who have added the work notes for this task. |
| Work notes \(Private\) | Work notes related to the task. |
| Compose | |
| Worknotes | Worknotes typed in by the users. These work notes can be posted for reference. |
| Activity | |
| Activity | Activity and state of the task. |
| Attachments | |
| Attachments | Attachments related to the task. |
Verify that the mandatory fields such as Approver, Assigned to, and Due date are updated.
Select Respond.
The Respond action triggers the impact radius calculation in the background. For information on impact radius calculation, see Impact radius for regulatory alerts of type regulatory event. The regulatory change task is updated with the Responded state.
Add an action task if necessary.
See Create a new action task for the alert for creating an action task.
Add issues if necessary.
See Create or add an issue related to a regulatory task for more information.
After creating necessary action tasks and issues, select Request Approval.
Depending on the state of the approval, the action task is activated. When the action task is closed, the associated source document import task is automatically closed.
Result
Verify that the regulatory change task is updated with the Responded state and the Action tasks related list is displayed for the regulatory event alert.