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Mitigate more risks with a change management program

Henry Powell (hpowell@hjpowell.com) oversees training, reporting, and automation for a global financial institution in Dallas/Fort Worth, Texas, USA.

Nearly every compliance program is faced with finite resources, a wide-ranging scope, and ever-changing business and regulatory landscapes. In many companies, changes that occur—whether within the business, the compliance function, or the broader environment—are not centrally documented, uniformly analyzed, or tracked through disposition, which creates the very thing compliance is tasked with preventing: risk. Effectively managing system change is, therefore, paramount for any compliance management program. A comprehensive and effective change management program (CMP), in particular, is essential for timely identification, reporting, tracking, and remediation of compliance risk. It will also help to enhance your overall program’s risk mitigation capabilities and advance its maturity.

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