Summary
Regulatory requirements refer to the rules, guidelines, and standards set by regulatory bodies or government authorities that organizations and individuals must comply with to operate within a particular industry or jurisdiction. These requirements ensure the safety, legality, and fairness of activities, products, services, and processes. These standards are enforced by regulatory bodies to maintain industry integrity.
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You can incorporate established requirements into your compliance program with appropriate controls and policies to manage them.
Navigating to Requirements
Access the Requirements page in the left-side navigation menu under Compliance Management.
Click “Requirements” to visit the page.
Creating Requirements
Create requirements from:
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Requirements list view
Authoritative documents
Reggi view
From Requirements List View
To get started:
Click Requirements in the main menu.
Click the Add icon in the top-right corner.
The ‘Add New Requirement’ modal appears.
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Add citations using the Create icon and the Citation modal.
Search and select the required citation.
Click on Map Citation(s) to map the citation(s) to the requirement.
Use the Requirement Information section to update details associated with the Requirement.
Click and select a Requirement Category.
Click and provide a Requirement Citation.
Click and provide a Requirement.
Click and provide a Requirement Notes.
Use the Stakeholders section to update the stakeholders associated with the requirement.
Click and select an Advisor.
Click and select an Editor.
Click and select a Reviewer.
Click and select a Business Risk Officer.
From Authoritative Documents
In any Authoritative Document, users can simply click on the requirements icon to create them, and use the Reggi icon to generate or draft requirements.
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Alternatively, extract requirements directly from text sections in an Authoritative Document by selecting the Requirements icon from the menu options. Complete the description details and save the Requirement form.
From the Reggi View
Requirements can also be generated from Reggi. Simply search for a regulation, review source links, select one of the authority documents, and generate requirements based on the selected source.
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Go to the Reggi page.
Enter a search term to generate the requirement. E.g. ‘Equal Credit Opportunity’
Click on the prompt “Draft the requirements”.
Review related source links and choose one.
Clicking on the source link will navigate to the corresponding Authoritative Document.
Use the instructions for creating a requirement from Authoritative Documents.
Requirement Creation Workflow by using Reggi
Reggi can generate requirements in a standardized format, using the provided information or selected text.
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This method ensures a seamless connection between the Authoritative Document and the generated requirements.
My Work Page for Requirement Tracking
This section is dedicated to monitoring and managing the requirements that you own or are assigned as an owner.
Creating Saved Views for Requirements
Save a set of preferred filters as Saved View, so you can quickly return to them when you revisit the Requirements page.
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The saved view now appears as a separate tab on the requirements page.
Optimizing the Requirements View
You can adjust your view and layout settings for a personalized interface. Use the Resize Grid button in the upper-right corner to expand the requirements view and resize the columns in the saved view.
Use the Layout Settings button to save or reset the layout.
Right-Side Panel: Tools for Requirement Management
When you open a requirement, Regology displays a range of options on the right-hand side available to manage this requirement. Click the Expand icon to view these options in detail.
Status
Assign and update the status of each requirement.
Owners
Assign and manage owners of each requirement by using the Search field.
Mappings
Link requirements to relevant areas or functions. Expand the Mappings panel, search and select areas where this mapping is applicable.
Click on Add to Mapping to add.
Policies & Procedures
Connect existing policies or upload new ones, detailing all the necessary information. Click the Attach button to search and add policies and procedures related to the requirement, or click the Upload button to add and attach a new policy.
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To choose a policy that already exists, simply click on the "Select an Existing Policy" button. This action will bring up the Upload Policy modal for further steps.
Risks
To manage risks associated with a requirement follow these steps:
Click the Risks dropdown in the right-hand panel.
Click the Assign Risk button. This will present you with various options for linking risks to the requirement.
To choose a risk that has already been uploaded to Regology, use the Search and Add a Risk field. If you want to introduce a new risk, select the Create option.
For selecting a risk that is already in the system, click on the Select an Existing Risk button. This action will bring up the “Assign Risk” modal.
Click Save.
Controls
To manage controls for a requirement in Regology follow these steps:
Click on the Controls dropdown in the right-hand panel.
Select the Assign Control button to reveal options for linking controls to the requirement.
Use the Search and Add a Control field to select controls already uploaded to Regology, or click Create to add a new control.
For using a control that is already in the system, click on the Select an Existing Control button. This action will open the “Assign Control” modal.
Click Save.
Review & Comments
The Review & Comments section in Regology is designed for collaborative feedback and discussion on requirements. Here's how to use it:
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