youtube i'll just run through my sphere one more time as we prepare to go live all right so again i want to welcome everybody and thank you for joining us today for this ex ask the expert event on discover new regulatory change management all right theresa take it away great well thank you as lisa said thank you so very much for joining us we have got um a couple of amazing experts here to talk about the new application regulatory change management we've got vishak who is with servicenow and then we've got andrew who's with thompson reuter who will be talking about the thompson reuters regulatory intelligence feed that is being integrated with regulatory change there is not actually a lot of things that are happening on the on the new release of on the store for irm not just the thompson royal regulatory feed we have a host of new applications and enhancements and that's what we're here to celebrate we've already had as part of our series celebrating these new enhancements and applications a webinar is in october around business continuity management and the new features there around the brand new application continuous authorization monitoring if you use nist rmf this is something you want to be looking at it's also very useful for csf for fedramp um and for a lot of other risk frameworks and then in november we've had our advanced risk assessments webinar that talks about the new application and project risk assessments that's there which is really exciting and getting a lot of buzz about that we've talked had a very very detailed um and action-packed webinar on policy compliance and audit and our cyber security accelerator for cis so don't miss that one and then in the end of november we had our risk management webinar we are now going to be talking about regulatory change management with our out of the box integration with thomson reuters and our really cool reports and dashboards that really bring this get a lot of visibility into what's happening but also mark your calendars for our last webinar which is next week around operational resilience and we're going to be talking about the also at that webinar we'll be talking about our new application with risk spotlight and their risk library so in total we've got seven different webinars in our series it's all available on our ask the experts playlist so please go back watch the previous webinars and mark your calendars for the december 10th webinar so now without further ado i'm going to hand it over to fajad who's going to walk you through what he's been doing around regulatory change over to yuvasha thank you teresa can you confirm if you're able to see my screen yeah it looks fabulous thank you hello all uh my name is rasha krishnan and i'm in the product management team here at servicenow in the riskview today i will walk you through the new regulatory change management application that was released last month we will also be covering the integration that we have built with the thomson reuters regulatory intelligence product which provides regulatory intelligence data which can be consumed by a grc platform like servicenow since this is an and this is an entirely new application i will first set the context with the help of a few slides and then we will move to the demonstration so starting with what exactly is regulatory change management so any organization has to comply with a lot of external regulations these regulations are issued by regulated bodies for a lot of purposes some of which are conducting businesses ethically ensuring fair competition cleaner environment and so on and so forth now the thing is that with the pace at which businesses and technologies are evolving the regulations are also updated accordingly and also very frequently which is why we need a system or a platform which can help organizations keep track of these changes organize it understand the impact of it to the org and then make necessary changes in order to comply with it so this slide substantiate whatever i just said in the previous one using data as you can see 300 million pages of regulated documents will be published by 2020 and in order to manage these insane number of changes if organizations are relying on spreadsheets emails and manual processes then it's not scalable and efficient also the fines for non-compliance have also been increasing over the years regulators in the u.s and europe have imposed almost 342 billion dollar of fines on banks since 2009 for misconduct including violation of anti-money laundering rules and that is likely to top 400 billion dollars by end of 2020 and that brings us to our product vision and what we wanted to build in order to help solve this problem so our vision as you see is very simple and straightforward we want to create a platform which is able to help our customers proactively manage these regulatory changes we are trying to help them move from a place where they are following a reactive approach and handling the changes at the last minute or after the rule or regulation is already in place so we are enabling them to look ahead into the horizon and see the upcoming changes and be prepared for it and how do we realize this vision so that's where we have the different features as part of the regulatory change management so as you see here this slide presents the different building blocks of the servicenow regulatory change management product now one of the prime challenges in any regulatory compliance program is to track your external regulatory landscape it is challenging to keep track of the ever-changing regulatory environment and checking it manually across multiple systems can lead to situations where you do not have enough time to comply with the regulatory amendment or you will have to rush to complete things at the last minute so the first building block of our application is targeted at solving this problem the ability to monitor your regulatory landscape in order to do that what we are offering is an integration layer where you can integrate with curated content providers who can give you regulatory intelligence data in the form of feeds based on the filters and parameters you would have set in the providers platform so we have designed our system architecture and our data model to ensure that it supports multiple search providers so this way you can track hundreds of regulators across multiple jurisdictions to identify any changes to the legislations and regulations and bring it into a single system of record which is your servicenow platform now as part of our first release we are offering an out of the box integration with thomson writers regulatory intelligence which we'll be covering in the presentation later now coming to the second component which as you would see complements very well with the first piece here the problem that arises with integrating with multiple sources or providers is that each of them would have their own regulated taxonomy and nomenclature now as your library grows over time it becomes super difficult to search and filter your legislation and regulation library that might have come from multiple sources even if you are integrating with multiple sources you can map the taxonomy of each of those into the servicenow taxonomy that you have created now this will enable you to categorize and direct the regulatory amendments coming in from multiple sources to the right teams within their organization also you can organize your related library by tagging your content with the taxonomy so that it can be filtered and searched easily now after you configure integrations and are all ready to start receiving updates you need a centralized repository where you can access all these regulatory changes or alerts at one places and once you go there the first step is to assess the applicability of these events now all of them might not be really applicable to your organization so you can track them and mark those that are not applicable and provide an action for that and in case you think that those are applicable you can take them for further action downstream now in case you want more inputs you can also trigger an impact assessment for the regulatory alert and determine the changes that need to be made in order to comply with the amendment talking about the impact assessment you have the ability to configure your own assessment methodology which can be a quantitative or a qualitative or even a combination of both so we are leveraging the advanced risk assessment engine for that also along with that you can determine the impact radius of the new amendment that has come in to understand how your internal grc objects like controls policies standards processes etc might get impacted and what kind of changes you might need to make to them in order to comply with the amendment now after you have identified the changes of course the next step is to make those changes right so that is the next piece that you see here which is the task management capability to manage and record the changes and associated artifacts as evidences so that these can be presented in later let's say audit an internal audit or even an external audit as well so these tasks can be tracked to completion to ensure that you have completed the necessary actions in order to comply with the amendments and also be ready as an organization to to comply with the regulatory change that has come in the last component is the reporting and dashboards which not only gives you a very high level overview of your overall risk and compliance posture with respect to external regulations but it also enables you to dig into the details if required slice and dice the data to identify trends and patterns and you can which can help you improve your overall regulatory change management program right so these are the six building blocks or components of our uh regulatory change management application and we will be covering all six of them in our demo so to shop with a question real real quick um does does the regulatory system that you're building there include the scope of environmental laws sustainability eco-labels or other chemical material regulations if not are there plans to expand into non-finance or taxonomy regulatory spaces and into environmental sustainability etc yes the answer to that is yes so as i said the regulatory change management application the the framework that we have built is very flexible and you can plug in any kind of regulatory data to that framework so that way even if it's something related to the the ones that you mentioned right you just have to plug in those data sources that provide you that kind of data and plug it into the regulatory change management application from where you can execute the change management workflows for the actions downstream perfect and then one more question and i think this is probably something that people are probably a lot of people struggling with is you know there really is no one silver bullet people um need multiple content sources feeds in order to get a true well-rounded view of of their regulatory needs essentially so it's not like if you have thompson reuters intelligence feed that you don't need ucf or um some of the ones on our store from agile for example correct one it's not one and done right right yes so that's why as i said the the architecture and data model that we have built as part of this application is very flexible and it's not that if you have one provider you can't integrate with another one you can have multiple providers at the same time and we have ensured in the application that uh you know you are able to map one provider's regulatory taxonomy to your internal taxonomy so that things are not you know things are basically uh managed easily and that doesn't matter if it's a security or privacy regulations it doesn't mean if it's in um britain or or down in asia or if it's in the united states it's really you know pretty much anything that's out there right right like yes perfect it's perfect thank you and i forgot to mention earlier anybody please ask questions um as we go along we want to make this interactive um engaging and valuable for you all that's all the questions for now i think okay sure so with that i think we can jump to the demo give me one second and there's um there actually is no standard list of plugins or apis you can go ahead and jump the demo while we're talking here um that service providers have already available for potential customers the thompson reuter is the first out of our the first out of the box um feed but we're going to be adding others right yeah that's right perfect okay i can see your screen yeah can you see the platform yep great okay so um so this is the new regulatory change management application as you see here uh you can you can search with regulatory change and you'll see here and once you once you click on install you'll see that there are two dependencies that that are there as part of this application which is the policy and compliance module and also the advanced risk module so if you are in the right if you have the necessary entitlements once you install rcm both policy and compliance as well as advanced risk assessment modules will also get installed in your instances right so this is where you can start from okay now uh coming to the regulatory change management app so once you install the application you will see it here and these are all the different modules as part of it uh now one of the first things if you remember from the presentation the first building block is to have a regulated intelligence provider or any source or even multiple sources where you will be getting the regulatory change alerts so as i had said we have designed our architecture in such a way that it can support any provider now we have an out of the box integration with thomson writers regulatory intelligence and it will be available in the store for a couple of uh in a couple of weeks so for the purpose of this demo i will i will be using the uh tr uh regulate intelligence data and that's why you see this module here as well now um when when you install the dr integration you will get something called as a guided setup which has all the steps that uh that will help you in setting up this integration right so it has it has some basic details on what exactly is this integration about and once you go here you will have different sections that lists out the different tasks that you need to do in order to set up this integration now in the interest of time i will not be uh going through the details of each of them uh except just these two modules because these are important also uh you know we are also shipping something called uh something called as an rcm it admin role so you can assign a user this rcmit admin role uh who can you know perform some of these some of these steps in case you don't want the admin to do it right so that's also something that we are shipping out of out of the box for this app uh now coming to these two steps which i wanted to talk about so if you remember the second building block from the my presentation was uh mapping uh the regulated taxonomy right so uh what we are doing is that uh basically we are uh we are creating or we are giving the uh option for the customers to create internal taxonomy so this internal taxonomy is basically five attributes uh which you can see here regulatory bodies content type jurisdiction themes and sectors so this is completely independent of any regulatory intelligence provider that you choose to integrate from so the advantage of having this is that you don't have to uh you don't have to keep on updating your uh internal taxonomy all you need to do is create it once and for all and then we have an option of mapping any providers external taxonomy to this internal taxonomy that you have created so for example if i go to the regulatory bodies you can see here that i have already created a few regulatory bodies each of them is multi-hierarchical meaning that it can have children of its own and this is something that you know you can create uh as per your business requirements right so you have regulatory bodies you have content types uh you have jurisdiction so let's say you operate in multiple geographies you can create all of them within that itself also you can you know specify uh you know you can create children right now uh once you do that right the next thing is to basically uh you know basically map this external taxonomy uh to to the internal one that you have just created so thomson writers provides uh their own regulatory taxonomy and uh if you want to map the thomson writers providers taxonomy to the internal taxonomy that you have created what we are providing is a taxonomy mapper which which will help you map the thomson writers regulatory taxonomy to the internal taxonomy that you have just created right so the left hand side is basically the related taxation that thomson writers is providing and this this one is the internal taxonomy that you just created right so all you need to do here is just go here and you know you can select the internal taxonomy it will it will be shown here you just have to select this and just have to save this right so as simple as that now the advantage of this specific mapper is that independent of any regulatory provider you can you can have your own internal taxonomy and you can map whichever providers tax on me to the one that you have created so this is this is something which which will help you manage multiple providers uh in case you choose to integrate with them right now uh coming to uh coming to the central repository so all these two steps so this was basically part of the setup of the regulatory change management application so once you set up the you know your app you have configured your integrations or providers you will start receiving these alerts or updates and as i said this will all come in a central repository which is called the regulatory feeds so this regulatory feeds is that central repository where you will see all the different uh feeds that you have sourced from multiple providers now all this data is sourced from uh from thomson writer so all of these uh all of this data is from rtr and uh from from pr there are basically two different types of uh events that samsung writers provide one one is a source document and the other is a regulatory event right so uh coming to what what are those so source documents are legislative and regulatory material which is hosted directly on the tr platform regiments on the other hand are regulatory material that tr tracks and we have two different workflows that get triggered for each of these types now let us go into one of these regulatory feed and see what what does it contain so as you can see each of these regulatory feed will have some metadata that helps us understand what is this particular regulatory feed all about so you have a title that shows what the feed is about you have a description which gives a brief summary of the this regulatory change you have a provider url which will take you to the thomson writers interface where you can see the same feed there is a regulatory body url that that points you to the actual regulation that has been published by the regulatory body which in this case is which in this case is the bureau of consumer financial protection and you have the provider which in this case is thompson writers and the type so as i said first we will be looking into the regulatory event or regulatory change workflow right so that is so the type is mentioned here now we have two sections here taxonomy and dates so this taxonomy is basically the your internal taxonomy that you have chosen to map as part of uh you know as part of the mapping exercise that i just showed you so uh all the mapping that you you saw on the right hand side that is what will be shown here right so this way you will be able to identify and quickly relate what exactly is this you know this classification will help you understand which team or which specific unit in the company should this regulatory feed be assigned to the date section gives multiple uh dates that the thomson writers feed provides and each of these dates when you hover over over it you will see that it gives you what the date is all about right uh yeah so these are the two sections other than that there is something called as related documents which gives you the the impacted citations so what citations are getting impacted because of this particular regulatory event that is what is shown here and uh how exactly are uh is this being used in our workflow is something that i will cover as we go ahead right one more thing that uh that i wanted to say was that uh this uh this particular user ellen rebeck is having a regulatory change manager role so there are two different roles that we are shipping as part of regulated change management application one is a rcm manager and the other one is an rcm user so an rca manager will be able to see all the different feeds that in fact all the feeds that are coming into the system our same user on the other hand will only be able to see the feeds that have been assigned to them okay so in this case you can also set up rules so that based upon let's say certain taxonomy you can auto assign it to a user in this case let me assign it to a to a single user also uh coming to the different uh you know different ui actions that we have here right so the first one is reassign which is uh pretty much self explanatory in case this is strongly assigned the user can really send it to another user the next one is differ so in this case this particular regulator event is not something that you want to act upon immediately you can defer it to a later date and you know the system will automatically send an email uh with the reason for different uh on on that particular date that you have specified so this is basically uh for the cases where you don't want to take an immediate action now in case you feel i think that the user thinks that this is something that is applicable to the organization they can click on applicable in case they think that this is you know they want more inputs or they want another pair of eyes to look into it they can also initiate an impact assessment so we are as i said we are leveraging the advanced risk assessment engine in order to do that so you can see that we have a pre-configured set of entities and uh i have configured this entities for this for the purpose of this demo so all you need to do is uh the admin what they need to do is that they can create a new uh or they can select an existing entity class and or add all the entities that they want to show up as part of this impact assessment right so in this case since this is related to uh since this is related to the retail banking maybe we can you know assign it to the retail banking subject matter expert and you can click on create assessments right so what happens here is that an impact assessment is created and is it is assigned to the entity owner right so uh i will show you how an impact assessment form looks like so this is how the impact assessment form is like so the one that we are shipping out of the box it has four different uh factors uh legal impact reputational financial and business impact and we are giving equal weightages to all of them uh again this is completely configurable if a customer does not want one of these factors or if they want more to be added if they want these weightages to be changed if they want the scoring criteria to be changed everything can be configured so in this case this is an assessment that has already been completed and you know we have got an overall score for this so this basically helps us in understanding the uh the priority of it and you can also use this uh you know if there are multiple assessments related to it you can use this field to give an overall impact based upon the different assessment scores that you might have received right now once an assessment comes in case you are not satisfied with that you can further trigger more assessment so you can trigger as many assessments as you want right and once you know that is done you get the assessment result you get that extra knowledge that you wanted to from the subject matter experts you can decide whether this is applicable or not applicable in case it is not applicable you can specify a reason and provide some comments this will not be deleted this will still be maintained in the system and this will be you know marked as not applicable uh you know so that in case you want to refer it later you can do that now uh in case you think that this is applicable which is what i will do for the purpose of this demo uh you will see that a new regulatory change task gets created so in this case since i have not completed this impact assessment it is showing that it is in progress and clicking ok will cancel them so which is fine so what happens here is that a new regulatory change task is created right so a new regulatory change task gets created and this regulatory change task is basically the container for you or your team to you know to go the next level and figure out uh what changes needs to be done in order to comply with this particular regulatory event that has come through right so uh this also has to be assigned to a regulatory change user so let me assign it to ebill let me provide an approval so in this case this has an approval workflow you you also need to provide a due date by which you want the user to complete this particular task you can provide some instruction also and you can basically save right so uh so this particular user gets a notification saying that a new exchange task has been assigned to them and they can come here and you know they can log in and get started so uh right now uh assuming that you know they come here and log in they all they need to do whenever they are ready to start this task is click on respond right so once they click on respond you'll see that you know this task has moved to the response state and at this point you can basically you know collaborate with the other other regulatory compliance team members you can tag other users in the system to basically you know craft that action plan that needs to be done in order to in order to complete the changes that that will help you to comply with this particular amendment right so these changes can be let's say update to your existing policies adding of new controls adding of new control objectives updating your existing control objectives and so on and so forth now in this case let's say after you know after a few days after the team has met and they have you know found out what are the different uh you know what changes that need to be done let's uh for the purpose of this demo let's say uh you know they found that we we need to update an existing policy right so what they can do is just click on update the policy you can specify whatever work notes you can there and the the other tasks that need to be created in order to do that updation of that policy right that can be created using something called as action tasks so action tasks are basically the vehicle which is used by the regulatory compliance team to create and assign tasks to the compliance team or even the risk team to complete or you know to do all the changes that has been identified as part of this process so in this case uh you know you see that updating a policy is one of the item one more thing that i wanted to cover here is that if you know if you see here when i clicked on refresh there were three action tasks that have been created automatically right so where did these three action tasks come from now if you remember this particular regulatory feed had three um you know it had three uh citations right so all these three citations had a few control objectives that were associated to it so what the system has intelligently done here is that it has gone ahead and created three action tasks automatically with that with those control objectives automatically attached to it so that way someone does not have to go ahead and manually go and figure out what are the other changes that needs to be done in order to you know in order to do those or find out the impacted objects in addition to it you can also create action tasks manually all you need to do here is select the category you can select the the compliance action target so in this case we said that we wanted to update a policy with respect to it so you can go ahead and select the policy you can actually select the specific policy that you want to update and you can you know you can provide that description here right so in this case let's say i give the policy and i just submit it right so once you submit it a new action task or is is added to this right now uh this one there is a field called uh applicable here which says that it is true so all the auto created uh tasks uh are automatically marked as false because you know in case all of these let's say control objectives are not impacted you can just mark go ahead and you know leave it as leave it as false in case you think that this is something that is actually getting impacted you can mark it as true the one that you are creating manually will automatically be tagged as true right so once all these changes are done you can request for approval and this goes to the person who you know who has been added as the approver in this case ln and uh you know once that approval task basically gets created uh you know this all the action tasks are basically assigned to the different different users who who have been assigned the specific tasks so uh this basically serves as the you know the action task basically serves as the vehicle for the regulatory compliance team to assign the task to the compliance or risk users so basically anyone uh to complete the different steps that have been identified as part of the action plan once the approval has been made it it goes into the implementation state and once all the implementation all the action tasks that have been created and which are applicable which are basically marked as true those will go into the implementation state and once all those are completed this particular regulatory change task gets closed which indicates that this particular uh regulatory event or whatever was needed to be done in order to complete the uh you know complete the work in order to comply with this particular regulatory change has been completed right and here you can see the different regulatory tasks that have been created in order to complete this uh amendment so this is the workflow that we have for the regulatory uh event so uh as i said we have another type of uh regulatory fee that comes from well i have a good question i have a question actually before you go too far here um in the work notes back when you were on your your one screen there um you were typing at name in the work notes but the recipient at name they need to have the record permission to view the record right yes so they would need to have the regulatory change user privilege at least that role at least yes and then um is regulatory change our new application here is it using the authority documents and citations table yes it is using so uh the the 30 documents and citations as you see here it is being used and referred to so the impacted citations that i showed you on the field record that basically compares the citation and then gives the you know the specific citation that is getting impacted and we're using the internal tables that we uh yes yes yes that's correct perfect thank you sure uh yeah so with that let me go to the other next type of uh feed which is the source document so the regulatory event was the one that we looked at so source documents are basically any legislative or regulated document that is published from from tr there are only two differences here with respect to regulatory event one is that there is no impact assessment step here so that's why you see only three and also there is an additional uh field here which is called citation that gives you the citation number for this right so in this case what happens here is that once you click on applicable a new type of task is created so this is not an regulated change start this is an import document task and the other procedures remains the same you have to assign it to a user you have there is an approval workflow here as well so you need to specify a an approver and any instructions and once you do that you can you know sort of you can actually move it to in progress right so uh again in this case the activity that we are looking at is since we have gotten a new citation recorded so this is actually a citation that you can see here the action here is to whether to uh you know whether to insert this as a new citation record in your in your instance or whether you want to update an existing citation uh which is there in the system so in this case uh you know i know that this is something that is not there this is something that is not present in my citation library because if it was present it would have shown up in the similar source documents so since uh you know since this is something that is completely new i would want to insert it as a new uh you know insert it as a new citation and i can also select the parent type authority document or citation so in this case i want to create it under under an authority document so you know so let's say in this case i want to create it under let's see this one all i need to do is select that and send for approval right so once i send for approval uh the approver can basically go ahead and approve it and this particular you know citation record is basically you know it it gets added to the authority document so let me quickly do an approval so this is approved and also for any input document task you also have the option of creating uh you know action tasks as well so in case you want to have some downstream activities which is there as part of this import document task you can do that as well right i created uh the site new citation as part of this authority document so if i come here and if i uh you know if i refresh it i see that this particular citation has been imported here so that is basically the workflow for import document task as i said the difference here is that in on a regulatory change task we are looking at the impact assessment and then seeing uh you know what needs to be done in order to comply with this in case of the source document the decision that we are making is whether it wants you want to import it or you know update an existing one with that let me jump to the last module which is the uh the dashboards so you know the there is a section called as overview in uh regulatory change management which will lead you to the to the dashboard so the dashboard here um gives us different different metrics so the first uh tile here is the new regulatory feed so anything that any new feed that comes into the system is coming into the new state uh the new tasks that are created uh as part of any regulatory event this style basically takes you there uh any regular so if you remember there is a due date on the regulatory change task so once you you know once that that date is crossed uh it will show up here and there is a priority on on every uh you know every action task so you know if you go to any action task there is something called as a priority field which basically shows you know what is the priority of it so that the critical priority ones are basically shown here all of these are so when you click on this it will take you to the list view where you can see which are those 96 regulatory feeds right so uh this is basically helpful for any regulatory change user to come ahead and see what are those new feeds or what are those new changes that have been assigned to you know which needs to be started working upon so each of these uh different tasks have their own uh you know their own states so this basically shows a pie chart of the distribution of these states uh in in case of action tasks we also have a option where we are stacking it up by the priority of it so on the x-axis you see the different states for it and on the y-axis you will see the number of tasks which are basically segregated by the priority right and we have a report as well on this dashboard where you can see the regulatory change tasks which have been sorted by the due date so the latest one will be at the top in addition we are also offering a regulatory calendar which will give you a calendar view of all the different tasks that have been created right so if you go to november you will see that on on the specific date uh you know this is a due date for uh for this particular regulatory task so uh so yeah so this is uh this basically summarizes the regulatory you know calendar and the dashboard that we have so uh with that let me let me jump back to the demo and give you a quick recap so if you see here at the top you have the thomson writers regulatory intelligence which gives you the regulatory feed and from that regulatory fee depending upon the type of document or type of you know the feed there can be two types of tasks that can be created regulatory change task or a source document import task uh for each of these you can basically i know for each of the regulatory change tasks you can trigger impact assessments and both of them actually you know once you have triggered an impact assessment and you have sort of created a regulatory change task or a source document import task you can create as many action tasks which basically serves as the bridge for uh you know where you can integrate with core compliance or core risk applications to get the to implement the changes that needs to be done so with that uh we have come to the end of this uh you know demo and presentation i will now pass it over to andrew we actually have a few questions for andrew as he gets set up here um why don't you go ahead and go in full screen mode there you go and andrew thanks for joining us thank you for having me alone excited to be here as the shock was showing the new regulatory event that popped up there were some questions coming in about how often you update the content is it quarterly it's pretty much in real time so we are monitoring the regulators uh constantly and we publish updates uh pretty much throughout the day um you can choose as a user you can choose how often you take at the latest delta of uh updates i'll get into the detail of that in a moment um but that we're we're updating effectively in real time and then if you're just a us company can you make can you select the kind of feeds that you want through the subscription uh yes there's two ways one commercially we'll license it just for the geography that you're interested in but also if you want to get more specific about it inside the tool you can configure just those regulators just those rulebooks that you're specifically interested in and just so everybody knows this is a an integration that's going to be on the store in about two weeks so be looking out for that and andrew maybe as you go through your presentation you can tell us a little bit about the store app and whether it's a subscription and if there's a fee involved and things like that for sure okay um well thank you that's a good segue so a quick high level about thompson reuters and who we are so our mission basically sits at the intersection between commerce and regulation we want to help people make a decision if they want to do a deal they want to make a transaction what are the regulations what are the things that you need to be considering in progressing with that so if you look across our full scope you'll see products in the legal space like west law and practical law in the tax base and global trade area you'll see one source um of course we're known for reuters as well the news agency but today we're going to focus specifically in the risk and compliance space where we have a few products um but in particular today we're just going to look at regulatory change and the management of regulatory change so behind the scenes we have a few teams that are helping curate and produce the content uh that is coming into um the uh servicenow platform and this group falls into sort of three very hey did i lose andrew yeah i think we lost a little audio there okay well while we're um waiting for andrew to come back i've got a couple questions that shaw could probably answer the the regulatory change app you only see it when you get um the thompson reuter integration sorry do you only see it when you get the regulatory change app okay so i'll refresh that question that says you mean to say that the the tr integration is only accessible if you have the rcm application yes yes that is true so there is a dependency on the regulatory change management application so only if you have the rcm app will you be able to use the thomson address integration awesome and then um let me just something real quick here and then um a couple more questions here um regulatory change management application it is a new application there was a question about whether it's a new application it is part of the grc packages um much like advanced risk and policy and compliance but it is a separate application but you don't need to purchase it completely separately and then the question here can i see my approved rcm records under service desk my approvals as well so out of the box you can't you will only be able to see it under the my approvals in the rcm module in the regulatory change management uh you know modules you have a section called as my approvals and you can only see it uh under that that's out of the box behavior yeah awesome and i think we have andrew back so andrew if you want to go ahead and take over yes no idea what happened there but let's keep going um so across and the final group of um people we have are data scientists and they're at the key of what we're working on here so we monitor uh something over a thousand regulators globally that are responsible for uh the regulation particularly of financial services um and across that group we have about two and a half thousand rule books that we're monitoring um we our coverage increases month by month um over the last 10 years it's gone up by a massive 650 but the core of that means that we are publishing on average about just short of 250 regulatory events regulatory alerts a day um so to your earlier question how often we update it's obviously pretty constant but a user can choose how often they want to take the delta between their last day update and today's [Music] so our content falls into really four key blocks source documents which uh the shark started to touch on earlier regulatory events which we've looked at some detail already how those flow into the platform uh news and analysis which i'm not going to cover in great detail today because it's outside the service we're looking at but also obligations um which which can be exposed through um the feed and the apis as well so the event monitoring is intended um to provide you with a trigger for regulatory change workflow um so through the now platform you bring in that feed you've seen the shark show that today and that can then trigger the workflow based on the regulators that you particularly care about our coverage globally is pretty much everywhere you want to be as i say we're covering about two and a half thousand rule books and growing uh you can see here in dark green the areas where we deem we've got very good coverage some others where we've got parcel coverage um and then there's some areas where we don't have coverage but as things stand today they're not markets that most of our customers are interested in but we are very much customer driven in how we um increase our coverage um and we add in additional uh rule books uh every month um so the material is published through really three different services through regulatory intelligence that's also delivered through a desktop the data feed that we've looked at today and an api that we've also seen some of the content flowing out of you've seen the feed but in essence the scope of that can be while it can cover two and a half thousand rule books most people won't need two and a half thousand rule books so it it can be scoped down to cover just those rule books that you're particularly interested in um capture the change around those uh we'll look at the taxonomy and how you can use that to again filter what what you listen to from any particular regulator and then through that you can use that to go and drive your workflow this is very much a horizon scanning solution because as well as looking at [Music] the rules and regulations you want to comply with today a big part of regulatory change is of course looking ahead so we are monitoring not just current regulation but changes to existing regulation and also proposed regulation and you can choose to follow that through its life cycle and clearly through the workflow trigger those different stages of a particular regulation to the right people within your team the power of this is really taking the disparate types of rule books that different regulators produce and bringing that into a standard taxonomy that that's really the the key to what thompson reuters does in many areas and in particular in this area we we bring everything down to a standard structure a standard taxonomy and you can see here some of the metadata some of the underlying um content within the taxonomy that you can choose to drive events and alerts off so if you're an interested let's say in final regulation you can choose to take that whereas you might be interested in some areas of your team impending regulation and again you can capture that and push it forward um we maintain also a library of rule books and through our analysts we also then extract what i would describe as plain language obligations um so the rule books are a library which effectively like any library you can take the current um document out of that library and view it but importantly it will be the current document that you look at all the previous versions we keep history um as well but we keep it fresh so it's a pull from our repository back through into the platform each time you want to use it and the scope of that's included in in somebody's license and with that will come that plain text obligation which will give you a general sense of what the regulator is driving at within that particular area so we deliver the events the change events through a feed you've seen that come in note once it's set up that's something you don't need to consider day to day uh and um bashar and team have done a phenomenally good job of making that very clean and uh straight forward for people um and then things like source documents the rulebooks are coming through an api call again how that's delivered a user is it's transparent to a user the platform has worked that out for you but that's how you're getting the latest version it's not stored locally on your system okay that was intended as an extremely uh rapid um fly through um the thompson reuters regulatory intelligence content and feed uh and the value that uh we seek to bring to uh the combined solution we're working through with servicenow so for shark um back to you so andrew did you i i admit to to missing did you address the cost of the app at all or i haven't addressed the specific cost but i can cover because it frankly varies depending on um what somebody needs but in principle um the the feed is scoped around um and the cost is scoped around effectively two parameters um which are all about how much value somebody's going to get out of it so one is how many regulators which region you're in which regulators you need so that's one dimension and then we have a second dimension which is really looking at the size and scale of the operation that's um going to be using our content that's perfect and then um speaking of the content it looks like another question here that the ad that you discussed proposed regulations so this is an app that could also be used by legal in some companies do you find that to be true uh yes i mean we have a number of products specifically focusing at legal but if one of the things you're trying to identify is the horizon scanning you know what's going to change in the future if a regulator has put forward a discussion document for example which typically happens to a community here's something that we're thinking of doing we'd like your feedback on the practicalities of it etc we publish that discussion that that proposed regulation and the taxonomy the metadata in that taxonomy um allows you to grab that proposed regulation and through the now platform use workflow to drive that to in this case the legal team perfect um and then a couple more questions um the shock mainly around reg change here um so i think there's a couple of different things going on the first one is you know red chain is a new application if you already have the professional or enterprise packages you automatically get rig change um but it is a plug-in that they would have to download or import correct that is correct yes and then i think the other thing is um i think people are trying to put their minds around content providers like ucf versus feeds like the thompson reuter intelligence feed and as we discussed earlier i think there's really value in having both of these but can you address how they would manage the dynamic requirements in rmf it looks like our rcm regulation regulatory change integrates completely with policy and compliance so policy changes are needed based on regulatory changes that this is is a very smooth and streamlined um also you know being able to bring ucf into regulatory change is that something that's possible so can you kind of touch on how those two aspects of getting content and staying on top of what's changing work together sure i'll address that so uh this the whatever you saw just now with respect to the data that we are sourcing from the thomson writers regulate intelligence so as andrew said this is more of a horizon scanning where you are keep keeping on checking your regulatory horizon as to what are the changes that are coming in and how to be prepared for uh for the changes uh you know proactively so let's say there is a proposed rule that is coming uh that is going to be implemented six months down the line so what is the impact to us from an organization uh and what what are the changes that we need to do so all of that will be covered as part of uh this uh the regulatory change management app now having said that uh content providers like ucf also give uh you know some additional data like control objectives or you know something which which is more than uh just the you know regulatory alerts so what we are we have planned in our roadmap is uh that we will be supporting ucf as well where the changes that the ucf the documents that ucf provides or the updates to those or the version changes to those will also or can also be managed through the regulatory change management application so as of now those updates will is not part of the regulatory change management app that you just saw but going forward in the future versions we will also be including that as well where the changes uh with respect to content providers like ucf can also be managed through the regulatory change management application yeah it's not it's not limited to ucf i mean we have content providers on our store there are other intelligence fees out there so we're really trying to make sure that people have the ability to select what's right for them to manage their regulatory needs you're right absolutely yes i think that's the questions for now cool okay so yeah so the last part of the presentation was basically to go through the uh to show you the thomson writer's data uh the good part is that we already saw a lot of it during the regulatory change management demo uh just before andrew spoke so a lot of it uh you know or you know much of it you will be able to relate now post uh andrew's presentation where he talked about the two different types of uh feeds that tr provides a regulatory event and the source document also the you know the key aspect of any of these feeds is the meta data that that comes along with it right so for example this summary so if you go to the the actual regulatory uh you know the regulatory event or the change that has occurred you'll see a lot of content so someone has to go through all of this uh now in this case you have a very brief summary where you know someone a regulatory compliance user can just come and go through this and get a sense of okay so this is the change that you know we uh is coming and this is how we need to be prepared off and then they can go ahead and hunt for specific changes within this larger document so that is really the advantage that this the feed provides and the different metadata provides and uh also the taxonomy assent you said so tr has a pretty rich taxonomy which you can use as as it is so if you want to use the thomson reuters taxonomy as it is you can you know in the mapping interface you can just replicate that and use it as it is and then that will get populated here which can help you identify and classify the different kinds of feeds and also create the create multiple rules in your you know in in the servicenow instance so that it is redirected to the right team and a lot of these manual processes of assignment and all that can be automated uh i already talked about dates so again uh uh there are a lot of dates that come along with uh any any of these feed we have tried to make sure that the it is you know you you get to know what exactly are those dates all about and i also talked about the related documents again this is being done using the api capability that andrew talked about in his presentation so we are tr also has an api which we are leveraging in order to get the related documents uh which which gives you the citations that are getting impacted because of a specific regulatory event right so these are on a high level these these are the different things that the thompson writers feed provides and uh you know that is what we are bringing in as part of the integration so with that i will pass on to you teresa now just say you're mute sorry about that i wanted to thank vishak and andrew for a fabulous demo and presentation i want to thank all of our listeners for some really good questions that made it really interesting don't forget we have additional webinar coming up next week but please visit us on our risk website or learn more about the thompson reuter intelligence feed through this link join us on our community we've got a very active community and as i said earlier you know please watch the other ask the experts webinars i don't see any other questions that have come in so i think we're going to end the webinar on this note and again thank you everybody and look forward to seeing you again later on another webinar thank you i think we just said one more quick question that came in did it oh my god yeah regulatory feeds is considered a module or an app so regulatory feeds is part of the regulatory change management application itself so it's not a separate module it will be available as part of the regulatory change management application itself so it's a module within the regulatory change management app and regulatory change management is part of our standard professional enterprise just a professional interface yes just professional enterprise so if you have that you'll automatically get access to it okay fantastic have a wonderful afternoon everybody evening and morning and we'll see you in our next event have a great day