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Heavily regulated and complex organizations,including those with a vast legal entity global footprint, are challenged more than ever to understand and. manage regulatory requirements. This is a result of unprecedented business change and a shift in servicesand operatingmodels. Demand on these organizations to maintain compliance
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BetaThe PCT Model shows the interrelationship of four critical aspects of any successful change effort: success, leadership/sponsorship, project management and change management. Success – Clearly defining what success looks like for regulatory changes ensures that all those impacted have a shared understanding of the objectives.
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BetaTo manage this challenge, 45% of CCOs say they are targeting compliance around industry-specific regulations as the most critical area to improve, where regulatory mapping and change management are prioritized for automation over the next two years. 73% of the participants predict that the level of focus on compliance, particularly in relation to regulatory expectations and scrutiny, will rise.
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BetaWe set out below some practical steps for firms looking to manage global implementation and change projects in rule-mapping, regulatory change and governance, including dealing with potential emerging issues and managing regulatory enquiries. 1. Mapping your business and relevant jurisdictions
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BetaProjects should be in alignment with the regulatory requirements and this will help project managers to develop a favourable bond with regulatory agencies (Schwierking & Anantatmula, 2015).
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BetaSuccessfully realizing a construction project involves more than meeting the client's time, cost, and quality requirements, more that successfully managing, monitoring, and motivating a project team: It also involves complying with the requirements imposed by regulatory agencies. This article reviews the process of meeting the regulatory requirements involved in implementing construction projects.
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BetaChange Identification . Regulatory change management begins with the identification of change. These changes can be. Internal – stemming from within the organizational environment and thus subject to management’s control. Deciding to introduce a new product or reaching a targeted loan, volume threshold, or asset size are some examples of internal changes.
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BetaRegulatory change management is the process of aligning your organization to the regulatory environment in which your business operates – including industry, countries, and regulatory agencies – monitoring regulatory developments across applicable issuing bodies, and adapting your policies, standards, and controls to applicable regulations to ensure continuous compliance.
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BetaRegulatory Change Management refers to the processes and strategies organizations use to monitor, assess, and adapt to regulatory changes. This involves gathering critical regulatory updates, evaluating their potential impact, and making necessary adjustments to policies, procedures, and operations to ensure ongoing compliance.
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BetaNavigating the Tightrope: The Role of Project Managers in Regulatory Projects. Best Practices from the Field: According to Hamilton and McGowan, the best project managers in regulated environments excel not just by managing but by leading change. They write, “Tackling many of the problems that once were only the domain of senior leaders ...
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