Regulatory Research Product Overview
Establishing AI-powered regulatory research can help your organization build an inventory of applicable rules to your business, gathering and compiling information from multiple agencies and sources of guidance, rules, regulations, laws, and enforcement actions at lightspeed.
Business Drivers
- Provide a complete view of the regulatory obligations of my organization accelerate performance and respond to market changes faster
- Prevent our business from being exposed to regulatory enforcement actions and reputational damage
- Identify related requirements across jurisdictions, agencies, products, and services
- Collaborate on rulebooks across all our teams in regulatory affairs, compliance, privacy, legal, and IT/Security
- Attest to the board, regulators, and external stakeholders that we know and are meeting our compliance obligations
- Generate our compliance obligations, in plain language
WATCH OUR REGULATORY RESEARCH PRODUCT OVERVIEW VIDEO HERE
4CRisk.ai’s AI-powered Regulatory Research product allows professionals to seamlessly search authoritative sources and specific regulatory agencies, including the Federal Register, to identify regulations, rules, laws, standards, guidances and news. The product then builds curated rule books applicable to your organization and finally generates business obligations, merged across similar sources, aligned with your legal requirements.
YOUR PROGRAM PROCESS
Summary: Search manually across different websites to identify sources of regulations, rules, laws and standards, including infosec standards, that apply to your organization, to create an inventory of obligations.
Your team does these tasks... manually
- Identify sources applicable to your organization
- Create rule books based on your jurisdictions and the products you sell
- Parse the PDF rule documents into citations or sections (manual cut and paste)
- Determine applicability based on actionable and non-actionable nature of requirements and identify key areas relevant to your business (disclosures, policy, procedures, reporting, recordkeeping, fees/rates, liability, licensing, and other actionable information)
- Generate plain language obligations from business rules.
4CRISK AI VALUE
Summary: 4CRisk can do this 5 X faster by generating an accurate inventory in minutes, scanning information from over global 2300 sources such as federal or state regulations, or InfoSec standards.
Our product helps your team with AI that can:
- Create a data lake of regulatory requirements by extracting large and complex unstructured and structured data from agencies and sources in minutes
- Allow SMEs to scope their research by selecting a particular agency or set of topics
- Break down large documents into granular parsed sections to support mappings and analyses, including topics and subtopics
- Identify the applicability of rules based on AI-suggested type (informative, definition, prescriptive, permissive, prohibitive) to clearly identify actionable vs. non-actionable requirements
- Identify your potential governance documents to be reviewed based on AI-suggested “impacted matter”
- Allow you to prioritize your work
- Provide a heads-up to impacted business units and the documents they support.
YOUR PROGRAM PROCESS
Summary: From your inventory of obligations, ensure there are no duplicates; create a ‘gold source’ obligation, merged from various, similar and related requirements.
Your team does these tasks... manually
- Merge similar obligations across multiple regulatory sources and standard bodies i.e. ISO and NIST, GDPR and CCPA etc to ensure there are no duplicates or partially matching obligations from different sources
- Create common obligations manually through inspection and editing documents
- Craft simple English business language obligations, that can be used to influence compliance artifacts.
4CRISK AI VALUE
Summary: 4CRisk can do this 5 X faster by merging similar obligations from multiple sources in the inventory in minutes, with an indication of overlapping requirements from similar sources.
Our product helps your team with AI that can:
- Automatically create distinct rulebooks for each regulation
- Merge similar and related requirements to create a single, common obligation, with audit trail to the original sources
- Generate plain, simple English business language obligations, that can be used to influence compliance artifacts such as policies, procedures, control objectives, risks, controls, tests, help/guidance for first line.
YOUR PROGRAM PROCESS
Summary: From your inventory of obligations, collaborate across SMEs, to curate rules for the entire organization and specific groups that apply to them.
Your team does these tasks... manually
- Share inventories and collaborate with SMEs for review, comment, and approve of rules
- Determine which rules would need to be included based on SME’s expertise, to ensure teams are working with requirements that are truly actionable, and not simply informational
- Search and collaborate between SMEs to finalize rule books
- If your process supports it, generate recommendations of which policies and controls should be reviewed based on the applicability analysis
- Create rules inventory for distinct business units, regulations, rules, laws, or standards
- Answer questions on queries, researching source documents as required
- Create/wordsmith plain, simple English language obligations, for the first line.
4CRISK AI VALUE
Summary: 4CRisk can do this 3 X faster by generating rulebooks in minutes, mapped to your business units, products and services, supported by collaboration.
Our product helps your team with AI that can:
- Allows SMEs to identify regulatory information published by agencies to create a set of requirements, or rule book, by pinning only the applicable rules or auto selecting all the rules for a domain
- Enable product-specific teams to group and manage rules that apply to their domain (i.e. legal, compliance, privacy, fair lending, AML, products and services)
- Clearly see what requirements for a particular group are actionable, or merely informational, or not relevant at all
- Collaborate on a common platform for review, comment, approve and finalization of rulebooks, with a complete audit trail of changes
- Leverage Ask ARIA Co-Pilot to provide answers to queries quickly, and to generate plain, simple English language obligations, for the first line.
YOUR PROGRAM PROCESS
Summary: From your rulebooks, ensure the right information is reflected in your GRC systems, and other systems of record.
Your team does these tasks... manually
- Load your enterprise taxonomy such as risk category, control category, products, and services to identify applicability
- Use various methods, mostly manual, to update GRC and other system libraries with up-to-date mappings.
4CRISK AI VALUE
Summary: 4CRisk can do this 2 X faster by generating mappings to your GRC system(s) and keeping them in sync.
Our product helps your team with AI that can:
- Automatically map external requirements to the enterprise taxonomy and/or GRC Libraires
- Ensure your systems reflect your business units, products and services, and other library definitions such as risks and controls.
If you have 4CRisk’s Compliance Map product
- You can leverage your robust AI-generated rule books and plain language business obligations to complete the gap analysis against your internal policies and controls, see comprehensive linkages at granular levels and create a traceability map between all your compliance artifacts.
If you also have 4CRisk Regulatory Change Management
- Using your rule books and inventory, you can enhance your Regulatory Change Management process to keep pace with changes in rules, regulations and laws while mitigating compliance risks by aligning policies, procedures, and controls.
If you also have Ask ARIA Co-Pilot
- Using our AI assistant provides immediate and reliable answers to your most complex compliance questions, saving you countless hours of research.
Qualitative Benefits
Effectiveness - reduction of risk of non-compliance
- Create and manage a full spectrum of global regulations aligned with business
- Eliminate human errors and biases when connecting rules to internal control framework
Efficiency - improvement in the regulatory research process
- Eliminate manual effort and cost in discovery, analysis, and mapping between diverse regulations
- Drive transparency and improve insight and ensure plain language synthesis of obligations
Agility - faster time to create accurate, up to date rulebooks
- Quickly review requirements and create rule books based on robust requirement inventories
- Incorporate AI driven insights into regulatory requirements create strategic and business advantage
4CRisk is an award winning AI-powered platform for Risk and Compliance professionals
