Edgile, the leading cyber risk and regulatory compliance consulting firm and ServiceNow Elite partner, today announced the 2021 Q2 release of its Automated Regulatory Compliance (ArC) Content Service for ServiceNow.
Edgile’s award-winning ArC service delivers more than 570 harmonized laws, regulations and industry standards and automatically loads them into ServiceNow IRM. ArC subscribers also receive a quarterly summary of noteworthy regulatory news, risk trends and enforcement activities.
“As the complexity of regulatory environments evolves, organizations need a way to consistently add and remove mandates, and manage the downstream impacts to policies, controls, and processes,” said Brian Rizman, Edgile Partner. “We help organizations stand up fully integrated risk and compliance programs within weeks by bringing together the ServiceNow IRM platform and Edgile’s ArC Content accelerator. The result is a dynamic solution that enables our clients to measure both risk and compliance more efficiently and effectively.”
The 2021 Q2 content update adds 22 new authoritative sources to the ArC Master Library across Edgile’s three core risk taxonomies—Information Technology Risk Management (ITRM), Operational Risk Management (ORM) and Enterprise Risk Management (ERM).
This release onboards several new sources for expanded cybersecurity and data privacy control coverage, including:
- Virginia Consumer Data Protection Act
- Center for Information Security (CIS) Control v8
- NIST SP 800-53B controls
In addition, two utility and energy infrastructure-related content sources are being introduced this quarter—NERC Critical Infrastructure Protection (CIP) standards, and International Organization for Standardization (ISO) 50001 publications. The Q2 release also includes a series of new sources that enhance financial and operational risk management requirements, including:
- Federal Reserve Board (FRB) Supervisory and Regulation Letters
- Basel Committee on Banking Supervision Operational Risk Standards
- Farm Credit Administration (FCA) directives
- Federal Financial Institutions Examination Council (FFIEC) Joint Statement
- People’s Republic of China Laws on Banking and Cybersecurity
- Hong Kong Monetary Authority (HKMA) Cyber Resilience Assessment framework
- EU Solvency II mandates
Also Read: Top 5 Steps Businesses Can Take to Improve Their Cyber Strategy
The ArC Content Service is maintained by Edgile’s compliance experts in PCI DSS, Sarbanes Oxley, FFIEC, GLBA, FRB Reg A-YY, HIPAA, Privacy, FDA, NERC CIP, and more. ArC monitors federal regulatory amendments and state privacy laws, including state sources for personal information protection, security breaches, data sharing, identity theft and notification.
ArC subscriptions are available on a paid annual basis for the following 20 industries: Medical Device Manufacturer, Pharmaceutical Life Sciences, Healthcare Provider, Healthcare Provider + Research, Healthcare Payer, Healthcare Payer + Medicaid, Financial Services – Banking, Financial Services – Banking and Broker/Dealer, Insurance – Property and Casualty, Insurance – Property, Casualty and Life, Casino Gaming, Utilities, Oil and Gas, Manufacturing, Technology, Retail, Government, Media, Transportation, Real Estate.
GRC Quick Start packages
ArC Content—available through certified ServiceNow Built on Now Store apps—is the backbone of Edgile’s comprehensive ServiceNow GRC Quick Start packages. Quick Starts help clients avoid the costs of integrating content with ServiceNow, and the expense (both time and money) of continuously monitoring, updating and operationalizing regulatory changes.
Managing regulatory changes with Edgile ArC applications
Included in the ArC Content Service subscription is the “Built on NOW” Edgile Regulatory Change Management application developed by our expert team of risk consultants, software developers and lawyers. The solution provides a closed-loop process to surgically identify necessary changes to policies, standards and controls across the organization based on new statutes, regulations and standards delivered through Edgile’s quarterly ArC content updates.
Intelligent automation and sustainment workflows are leveraged to load the desired regulatory content changes into ServiceNow IRM, using an easy-to-navigate IT risk management framework.
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