Regulatory Change Implementation

Workflow for implementing new or changed regulations affecting bank operations. Covers gap analysis, policy updates, training, and compliance verification. Timeline varies by regulation. Best for: Compliance officers, department heads.

4 steps

Banking

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Process steps

Analyze regulation and identify impacts

2 weeks from previous step

task

Read the full regulation and any agency guidance. Identify which departments, products, and processes are affected. Create an impact assessment documenting current state vs. required state. Note any ambiguities that need clarification.

Form fields in this step

Impact Assessment Completed *

Departments Affected *

Clarifications Needed *

Update policies and procedures

4 weeks from previous step

task

Draft or revise policies to address regulatory requirements. Update procedures to implement new requirements. Get appropriate approvals - board approval for policies, management approval for procedures. Version and date all documents.

Form fields in this step

Policies Updated *

Procedures Updated *

Approvals Obtained *

Develop and deliver training

6 weeks from previous step

task

Create training materials for affected staff. Deliver training before the effective date. Document attendance and comprehension. Update training materials in your learning management system for ongoing use.

Form fields in this step

Training Developed *

Staff Trained *

Training Documentation Filed *

Verify compliance and document implementation

8 weeks from previous step

task

After effective date, verify compliance through testing or monitoring. Document any gaps and remediation plans. Create an implementation memo for your files summarizing all actions taken. Present results to management and/or board.

Form fields in this step

Compliance Verified *

Implementation Memo Filed *

Board/Management Briefed *