What is regulatory change management?

Regulatory change management refers specifically to the systematic process designed to track, analyze, and respond to changes in laws and regulations that affect an organization. This approach is essential for maintaining compliance with legal and regulatory requirements, ensuring that the organization stays updated with any new or modified regulations that could impact its operations or governance.

By employing regulatory change management, organizations can proactively adapt their policies, procedures, and compliance strategies to align with evolving requirements. This proactive stance helps mitigate legal risks, maintain operational continuity, and uphold industry standards.

In contrast, the other options pertain to aspects of business operations that are not related to compliance or regulatory oversight. Improving employee satisfaction, increasing customer sales, and enhancing leadership capabilities are all important focuses for organizational growth and development, but they do not encapsulate the essence of tracking regulatory changes and ensuring compliance. Therefore, understanding regulatory change management is crucial for professionals tasked with compliance and governance responsibilities.