1. Compliance Lifecycle Management:
Best Practices For Efficient and Effective Regulatory Change Management
Larry Gross, CPCU
Compliance Assurance Corporation

2. About Compliance Assurance Corporation
Compliance Assurance Corporation provides unique, comprehensive, regulatory risk management to the insurance industry. In addition to software solutions, our team of Regulatory
Analysts and Compliance Specialists work to increase the value that compliance programs can add to their overall organizations.
To learn more about Compliance Assurance Corporation or Comply On Demand Enterprise™ (CODE™) software, please visit or call (877)

3. Finding Your Way – A Road Map
“Success in today’s dynamic business environment requires the organization to integrate, build, and support business processes with an enterprise view of governance, risk management, and compliance (GRC.)” Michael Rasmussen/ Corporate Integrity
What is your plan? Have you charted out your direction?

4. Compliance Lifecycle Management -
Set of best practices
Intuitive?
Rapidly expanding regulatory environment with increasing requirements
“New” risk impacting reputation/branding which is felt by all the corporation’s stakeholders
What does the road map look like?

5. Compliance Lifecycle Management
Identify & Document Regulatory Changes
Assess Relevance
Translate Changes into Business Requirements
Communicate
Execute
Monitor & Validate
Report

6. Identify and Document Regulatory Changes
Large volume to capture from multiple sources
84% of Compliance Officers see increase in 2012 from prior years and volumes increasing
How do you avoid missing things?

7. Assess Relevance to the Insurer
Just because it came in the door does not mean it applies to you
Make this your first focus
Triage what comes in the door so that in enters the process in the right spot

8. Translate Changes Into Business Requirements
The “heavy lifting” of the compliance process
Collaborative analysis of proposed changes and the full extent of their impact on relevant business processes
A clear understanding of what needs to be done at the outset will save time and money

9. Communicate
Create the ability for dialog that is both cooperative and collaborative
Recognize the need to communicate with your “extended enterprise” and the level of compliance risk they pose
The complexity of communication – it’s more than the words

10. Execute Have the right tool
Technology allows all stakeholders to have a place to work together
A compliance process that is adopted across the enterprise creates a common language regarding how things get done for effective management in a timeframe necessary for success

11. Monitor and Validate What about a Business Process Manager?
Validation is critical because there are many moving parts
Use technology to create the necessary “follow through” to initial compliance activity regarding a business requirement

12. Report The ability to demonstrate compliance performance is critical
Compliance has a valuable voice in how data is managed within an organization
What should you be thinking about to add that value to that conversation?

13. Getting There…. or Not
Not having a map causes uncertainty and added risk
Avoid getting “lost” and not getting where you need to be when you have to be there
Make Compliance Lifecycle Management the framework for your enterprise’s compliance management process

14. Questions Larry Gross, CPCU, AU, AIM
Director of Business Development – Compliance Solutions
Compliance Assurance Corporation
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