STEP 1
Define the monitoring universe
Identify the institution's activities, products, jurisdictions and responsible specialists. Maintain the authoritative sources and review cadence appropriate to that scope. Record the publication, effective date and affected business area for each item requiring assessment.
Decision to resolve: Which sources and activities are in scope?
STEP 2
Assess relevance before creating work
Assign a qualified owner to determine applicability and coordinate interpretation with the institution's legal and compliance teams. Record the rationale, dependencies and questions that remain unresolved. Distinguish a proposed change from an effective requirement and avoid presenting preliminary assessments as final conclusions.
Decision to resolve: Who decides applicability and records the rationale?
STEP 3
Track implementation and evidence
Translate an approved impact assessment into policy, system, training and control changes with owners and acceptance criteria. Verify implementation and retain the decision trail. Cicrim can help establish the intake register, workflow and reporting required to keep the process manageable.
Decision to resolve: What evidence confirms the change is complete?