Regulatory change management is the process of centralizing the necessary updates to an organization’s business and operations based on changes or updates to regulations. Updating policies should be followed by the creation of a plan to identify the impact these regulatory changes will have on the organization. This may include required changes to the product, service, or offering; education of leadership and staff; risk assessments and auditing; and any other changes that may be required to stay in compliance or to create a full picture of the risks and costs of noncompliance.
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