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In this third article in our series on building a strong compliance program, we turn our attention to change management strategies to ensure your organization is agile and effective in the face of ongoing regulatory change.


Navigating the Changing Regulatory Landscape

Maintaining a strong compliance program is a continuous effort. To stay on course, it’s crucial to proactively monitor regulatory changes to ensure that your organization can respond promptly to its evolving regulatory obligations.

Leverage Automation to Identify New Rules and Obligations

In the dynamic world of compliance regulations, automation is your ally. Compliance automation tools, such as Ascents, employ AI to continuously monitor multiple financial services regulatory sources for rule changes and new obligations, filtering out irrelevant information, identifying rule changes that are directly applicable to a business. This eliminates the need for your compliance team members to read through large numbers of regulatory reports searching for relevant information.

Manage Dynamic Compliance Updates

Additionally, employ a centralized obligations library that updates automatically in response to regulatory changes, streamlining the process of staying compliant and driving efficiency among your compliance team.

For example, Ascent provides a regulatory obligations library that automatically delivers relevant changes to these obligations based on new regulations that are pertinent to your business. This makes it easier for compliance teams to stay current on regulatory changes without having to read through mounds of regulatory reports – to not only save time, but also enhances the accuracy and completeness of your compliance efforts.

Procedures & Proof

Tracking compliance tasks is vital. A comprehensive system that reports in real-time on task status—whether open, closed, or assigned—is indispensable. Internal documentation detailing how tasks were closed out provides transparency and accountability. Similarly, having a well-defined process for handling regulatory changes, from notification to review, analysis, and closure of tasks, ensures that your organization can respond effectively and efficiently.

Proactive Compliance Documentation

Documenting compliance efforts is more than just a box to check—it’s a strategic advantage. Well-documented procedures and proof of compliance not only provide a clear record of your organization’s commitment to compliance but also serve as a shield against potential regulatory scrutiny.

Plan & Expand: Preparing for the Future

Finally, it’s essential to anticipate growth and expansion. Implement a system to capture information on new initiatives, offerings, or acquisitions that may subject your organization to new regulatory requirements. This forward-thinking approach allows you to accelerate and de-risk expansion into new jurisdictions or service offerings by swiftly identifying the exact obligations that apply to those activities.

Planning for expansion with compliance in mind isn’t just about ticking boxes; it’s about ensuring the sustainability and resilience of your organization. By proactively addressing compliance challenges as you grow, you position your organization for long-term success and stability.

A strong compliance program encompasses the identification, definition, creation, centralization, monitoring, and management of regulatory obligations. This program, supported by robust procedures and proof of compliance, empowers organizations to plan and expand confidently in a complex regulatory environment. By embracing these key components, businesses can navigate the intricacies of compliance with agility and precision, mitigating risks and securing a solid foundation for sustainable growth.


As you continue to refine and strengthen your compliance program, consider evaluating your organization’s readiness with Ascent’s Regulatory Compliance Scorecard. This tool can help you gauge your preparedness for compliance and regulatory change, ensuring that you remain a pillar of compliance excellence in your industry.