Reduce regulatory risks and costs
Attivio has unveiled Active Regulatory Management (ARM), which, the company says, has been designed to monitor regulatory agencies, notify staff members responsible for revising corresponding internal rules and policies, document completion, flag delinquent updates, distribute policy changes and provide an on-demand audit trail.
By automating risk management practices, Attivio's Active Regulatory Management solution reduces the number and size of fines, improves productivity and compliance and ultimately enables a reduction in self-insurance requirements.
ARM monitors hundreds of regulations published online in a variety of formats and automatically detects changes and updates, says the company, then matches them with internal policies that comply with those regulations. Attivio says that each person in the risk organization views the changes in regulations and the associated updating of policies on a role-specific dashboard. Risk managers can see the rolled-up status of their teams, or horizontally, for example, across a geographic region. The system updates in real time and also reports metrics, such as the rate of change and the most frequently changing sources of regulation.
Other key ARM features include:
- internal policy indexing and linking them together;
- a dashboard showing change across regulation and impacted rules--this view is hierarchical, meaning that each person sees only the regulations and policies relevant to them;
- business process automation by automatically "ticketing" policies that need to be updated; and
- content and activity metrics and records of all updates.