Regulatory Change Management Statistics 2024 – Everything You Need to Know

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Are you looking to add Regulatory Change Management to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Regulatory Change Management statistics of 2024.

My team and I scanned the entire web and collected all the most useful Regulatory Change Management stats on this page. You don’t need to check any other resource on the web for any Regulatory Change Management statistics. All are here only 🙂

How much of an impact will Regulatory Change Management have on your day-to-day? or the day-to-day of your business? Should you invest in Regulatory Change Management? We will answer all your Regulatory Change Management related questions here.

Please read the page carefully and don’t miss any word. 🙂

Best Regulatory Change Management Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 208 Regulatory Change Management Statistics on this page 🙂

Regulatory Change Management Market Statistics

  • RegEd is the market leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms. [0]

Regulatory Change Management Software Statistics

  • 3 44% of organizations plan to implement or expand/upgrade their existing implementation of GRC or risk management software. [1]
  • This trend is changing, as 40% are now using dedicated business continuity planning software, which is “essential for complex organizations, particularly those with limited staff, and with the growing importance of BC to business operations and strategy.”. [1]

Regulatory Change Management Latest Statistics

  • Employee productivity (62%). [1]
  • Employee safety (29%) Competitive differentiation (29%) Brand and reputation (28%). [1]
  • Enhancing the quality, availability, and timeliness of risk data (79%) Enhancing risk information systems and technology infrastructure (68%). [1]
  • Financial institutions rank their top ERM program priorities as 6 Collaboration between business units and the risk management function (66%). [1]
  • Managing increasing regulatory requirements and expectations (61%) Establishing and embedding the risk culture across the enterprise (55%). [1]
  • Boards devote a relatively small amount of their meeting time to risk management about 9% on average. [1]
  • Only 6% of directors believe their organization’s board is effective at managing risk. [1]
  • 16 65% of organizations are operating “reactive” or “basic” policy management programs. [1]
  • 15 Credit unions in the U.S. face a combined $6.1 billion in annual regulatory costs, or about 15% of operating expenses. [1]
  • More than half (51.75%). [1]
  • 7 56% of organizations lack a formal program for assessing the BC readiness of third parties. [1]
  • Only 27% of organizations rank their BC program maturity as a 4 or 5 out of 5, according to COBIT maturity level definitions. [1]
  • The remaining 73% fall into maturity levels 0­–3. [1]
  • For important projects, that number is commonly 80% to 100%. [2]
  • By leveraging artificial intelligence and machine learning to fully automate an otherwise tedious manual process, Vital4 can eliminate false positives by up to 100%. [3]
  • Our 350+ clients who utilize our digital KYC solutions have experienced reductions in onboarding costs of 90%,. [3]
  • TAT reductions from days to minutes, and a 20% reduction in KYC drop. [3]
  • CardX provides solutions for businesses to accept credit cards at 0% cost, making payments more fair for everyone. [3]
  • rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationHigh school diploma or equivalentWork experience in a related occupation5 years or moreTypical onthe. [4]
  • rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthejob trainingModerateterm onthe. [4]
  • Number of new jobs99,200Growth rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs4,300Growth rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs1,400Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • rate9 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs4,400Growth rate3 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs600Growth rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs200Growth rate1 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs1,200Growth rate3 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs3,400Growth rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs200Growth rate1 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs5,800Growth rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs4,800Growth rate9 percent Click here for additional projections detail Education and trainingTypical entrylevel educationMaster’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationDoctoral or professional degreeWork experience in a related occupation. [4]
  • Number of new jobs1,100Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs67,800Growth rate13 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs60,200Growth rate16 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs100Growth rate1 percent Click here for additional projections detail Education and trainingTypical entrylevel educationMaster’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs10,500Growth rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs2,700Growth rate9 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs0Growth rate0 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs11,400Growth rate34 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs2,600Growth rate5 percent Click here for additional projections detail Education and trainingTypical entrylevel educationMaster’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs2,000Growth rate7 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs900Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs5,700Growth rate15 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs10,600Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs2,800Growth rate35 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs15,800Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs77,800Growth rate19 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs16,200Growth rate23 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs50,400Growth rate62 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs2,400Growth rate44 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs3,200Growth rate26 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,400Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs7,400Growth rate20 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs12,800Growth rate29 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs13,400Growth rate12 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs19,900Growth rate25 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs2,900Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs13,600Growth rate23 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,200Growth rate25 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs11,700Growth rate8 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs8,300Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs2,300Growth rate9 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs35,600Growth rate22 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs16,300Growth rate36 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs3,400Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs400Growth rate5 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [4]
  • Number of new jobs4,600Growth rate9 percent. [4]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entry. [4]
  • Number of new jobs9,300Growth rate6 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs800Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs2,700Growth rate30 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs4,000Growth rate26 percent Click here for additional projections detail Education and training. [4]
  • Number of new jobs100Growth rate7 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs2,200Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry. [4]
  • Number of new jobs1,100Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry. [4]
  • Number of new jobs12,100Growth rate16 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,900Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,100Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs100Growth rate15 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs300Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs700Growth rate25 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs500Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • rate18 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entrylevel educationHigh school diploma or equivalentWork experience in a related occupationLess than 5 yearsTypical onthe. [4]
  • Number of new jobs5,000Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry. [4]
  • Number of new jobs500Growth rate7 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs100Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs400Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs4,800Growth rate17 percent Click here for additional projections detail Education and trainingTypical entry. [4]
  • Number of new jobs15,900Growth rate10 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs7,300Growth rate17 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • rate14 percent Click here for additional projections detail Education and trainingTypical entry. [4]
  • Number of new jobs1,200Growth rate14 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,100Growth rate22 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,400Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs2,900Growth rate15 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs3,000Growth rate12 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs700Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs500Growth rate10 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,100Growth rate6 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs300Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs500Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs4,900Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs2,500Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs4,600Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,900Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs900Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs800Growth rate9 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs200Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs7,400Growth rate7 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs200Growth rate1 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs10,800Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • rate8 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs1,300Growth rate13 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs0Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs100Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs17,500Growth rate14 percent . [4]
  • Number of new jobs1,300Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Number of new jobs4,500Growth rate14 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [4]
  • Anti Fraud Controls Organizations that used proactive data monitoring had 54% lower loss and halved the time to detect the fraud. [5]
  • Similarly, management review and whistleblower hotlines also reduced the losses by 50% and decreased the detection time by 50%. [5]
  • The most common anti fraud controls implemented by organizations include an external audit of financial statements (81.7%), code of conduct (81.7%) and an internal audit department (73.7%). [5]
  • In more than 88% of background checks conducted, no prior misconduct or redflags were discovered since perpetrators are often first. [5]
  • Weak implementation of anti fraud controls, such as lack of internal controls (29%), overriding of existing internal controls (20%), and lack of management review (19%). [5]
  • Bribery and Corruption Corruption schemes were often due to a lack of internal controls (29.3%) and overriding of existing internal controls (20.3%). [5]
  • In a 2013 national survey, 2% of employees witnessed a colleague offering a bribe to a public official. [5]
  • Almost 20% of employees observe bribery and corruption related misconduct. [5]
  • Bribery and corruption related misconducted is more likely to be observed at multinational companies (19%) and supplier companies (20%). [5]
  • In the private sector, 75% of bribery cases involve management. [5]
  • Corruption cases cost a median loss of $200,000 and occurred 35.4% of the time. [5]
  • More than 90% of CCOs report their Board or a committee of the Board is adequately informed of compliance risks and mitigation efforts. [5]
  • 36% of CCOs do not know, or disagree, that their lines of business management take ownership of the compliance culture and agenda. [5]
  • Only 15% of CCOs strongly agree with this statement, indicating that for many organizations room exists for growth. [5]
  • 31% of CCOs do not know, or do not communicate, conduct and culture lessons across their organizations. [5]
  • Further, 29% of CCOs have not documented, or do not know if they have, formalized compliance roles and responsibilities for their staff it is foundational for employees to understand the importance of compliance and their role within the compliance structure. [5]
  • Only 29% of organizations report that they assess compliance proficiencies and skills of their staff on an ongoing basis. [5]
  • At least 94% of organizations report that compliance requirements are embedded within their policies and procedures and separately also within their code of conduct, which is accessible to all employees. [5]
  • Only 27% of CCOs strongly agree that the compliance function has a change management process in place to identify and incorporate changes in laws and regulations and to incorporate such changes into their policies and procedures. [5]
  • Only 69% of CCOs say their organization leverages technology to support its compliance initiatives, while less than half just 47% say they use data analytics and other technology processes to conduct root cause and trending analysis. [5]
  • 33% of CCOs report they do not have, or do not know if their compliance testing program includes transactional, process, and controls testing, and only 27% of CCOs strongly agree that they monitor and track for regulatory changes. [5]
  • 84% of organizations provide reports on the enterprise wide state of compliance including culture, conduct, governance, and key issues. [5]
  • Yet, only 47% of CCOs say their organization has an enterprise wide reporting system that is integrated with compliance monitoring and across functions and business units. [5]
  • In a 2015 survey, 30% of compliance professionals in the United States do not measure the effectiveness of their compliance programs. [5]
  • Similarly, in a 2016 survey, 44% of organizations do not measure the effectiveness of their policy management program. [5]
  • Almost two thirds of organizations (63%). [5]
  • Corporate Fraud Corporate fraud caused losses of $1 million or more in 23% of cases studied. [5]
  • Retrieved 13 January, 2017) 8.4% of organizations victimized by fraud were fined as a result of the fraud. [5]
  • The most common form of fraud was asset appropriation (> 83%). [5]
  • Meanwhile, financial statement fraud occurred in less than 10% of cases but cost a median loss of $975,000. [5]
  • The accounting department is responsible for more occupational frauds than any other business unit (16.6%). [5]
  • The perpetrator attempted to conceal the fraud in 94.5% of the cases studied. [5]
  • In a 2013 national survey, 3% of employees were aware of financial reports that contained misleading information. [5]
  • January, 2017) 60% of 200 security leaders surveyed indicated that their organizations were victims of at least one social engineering attack in the past year. [5]
  • Employees’ credentials were compromised in 65% of the cases. [5]
  • 60 percent of enterprises have fallen victim to social engineering in 2016. [5]
  • Phishing via links in emails represents 88% of all reported phishing. [5]
  • An annual preparedness study found that 81% of organizations have a data breach response plan in place. [5]
  • 37% of companies that participated in the study do not have procedures in place for data breaches that occur overseas. [5]
  • Only 25% of companies in the annual preparedness study update data breach response plans once or twice a year. [5]
  • 25% of companies that participated in the study have not reviewed the incident response plans of their 3rd party partners. [5]
  • According to research conducted between January 2015 and July 2016, office themed email phishing simulations have the highest rates of success, at 20%. [5]
  • Themed Phishes Have 20% Success Rate. [5]
  • Malicious or criminal attacks were responsible for 48% of all breaches in the 2016 study. [5]
  • Among organizations currently using or considering GRC technology solutions, nearly two thirds (61%). [5]
  • In a 2014 national survey, 27% of American workers indicated that they have been the victim of abusive conduct at work. [5]
  • 56% of bullies are people in positions of authority. [5]
  • Less than 20% of American employers take actions to stop workplace bullying. [5]
  • To escape bullying, 48% of the bullied targets quit their jobs. [5]
  • Additionally, 13% of targets are fired from their jobs. [5]
  • Pace of Regulatory Change Keeping policies current with changing regulations is the number one challenge for 47% of organizations. [5]
  • Related, it was also noted that training employees (40%) and managing policy version control (32%). [5]
  • In 2012, 40% of senior risk executives working for large organizations were very or extremely concerned about their existing risk system’s ability to adapt to forthcoming regulatory requirements. [5]
  • 44% of respondents from mid size organizations and 12% from smaller institutions shared similar strong concerns. [5]
  • In the past three years, 44% of organizations have faced “legal or external regulatory actions where a policy came under review as part of the action or defense”. [5]
  • In a 2016 survey of risk management employers, two thirds (68%). [5]
  • In a 2016 survey, 47% of surveyed internal auditors feel that their internal audit department is “sufficiently resourced for the demands that are made on it”. [5]
  • Around half (51%). [5]
  • There is a degree of regional variation, with respondents in Australasia reporting that only 28% of firms have a senior manager for conduct risk. [5]
  • Retaliation Approximately one third (median value 36%). [5]
  • 34% of American workers do not speak up about misconduct due to fear of retaliation from senior leadership. [5]
  • Additionally, 30% were concerned about payback from a supervisor and 24% were worried about their co. [5]
  • The top three topics most likely to be covered by training programs within the next two to three years include code of conduct (93%), conflict of interest (76%), cybersecurity (69%). [5]
  • Only 12% of organizations have an advanced compliance and ethics training program. [5]
  • Nearly 40% of organizations rate their programs as basic or reactive. [5]
  • More than one half (51%). [5]
  • More than one third of firms (37%). [5]
  • 23% of companies do not have a formal compliance training plan in place. [5]
  • Only 13% of Boards are given training on cybersecurity. [5]
  • Whistleblowing Organizations with reporting hotlines detected fraud through tips 47.3% of the time whereas organizations without hotlines only detected 28.2% of fraudulent cases through tips. [5]
  • In organizations that have a formal reporting structure, telephone hotlines were the most common method to report a tip (39.5%). [5]
  • However, all forms of online reporting (such as email (34.1%) and web based or online form (23.5%). [5]
  • Whistleblowers report fraud to their direct supervisors 20.6% of the time and company executives 18% of the time in the cases studied. [5]
  • However, it should be noted that the Ethics Resource Center reports 56% of initial complaints are made to direct supervisors. [5]
  • Over a six year span, the number of tips that are determined to have merit has increased from 30% in 2010 to 41% in 2015. [5]
  • According to the Ethics Resource Center 91% of whistleblower tips are first reported internally. [5]
  • If not addressed properly, 84% of those go on to report the misconduct externally. [5]
  • Whistleblower hotlines are only implemented in 60.1% of organizations. [5]
  • In small organizations, hotlines are only implemented in 25.7% of the cases studied. [5]

I know you want to use Regulatory Change Management Software, thus we made this list of best Regulatory Change Management Software. We also wrote about how to learn Regulatory Change Management Software and how to install Regulatory Change Management Software. Recently we wrote how to uninstall Regulatory Change Management Software for newbie users. Don’t forgot to check latest Regulatory Change Management statistics of 2024.

Reference

  1. reged – https://www.reged.com/resource-webinar-regulatory-change-management-the-state-of-insurance-regulation-and-compliance-best-practices-in-a-pandemic-world/.
  2. quantivate – https://quantivate.com/blog/grc-risk-compliance-statistics/.
  3. prosci – https://www.prosci.com/resources/articles/why-change-management.
  4. deloitte – https://www2.deloitte.com/lu/en/pages/technology/articles/regtech-companies-compliance.html.
  5. bls – https://www.bls.gov/ooh/about/data-for-occupations-not-covered-in-detail.htm.
  6. navexglobal – https://www.navexglobal.com/compliancenext/understanding-the-basics/the-ultimate-list-of-compliance-program-statistics/.

How Useful is Regulatory Change Management

One of the primary benefits of regulatory change management is that it helps organizations stay ahead of the curve when it comes to compliance. By monitoring regulatory changes proactively, organizations can identify potential risks and take steps to mitigate them before they become significant issues. This proactive approach can help organizations avoid costly fines, legal actions, and damage to their reputation that could result from non-compliance.

Additionally, regulatory change management facilitates better decision-making within organizations. By understanding how regulatory changes impact their operations, organizations can make more informed decisions about their business practices, investments, and strategic initiatives. This awareness can help organizations align their goals and objectives with regulatory requirements, leading to more efficient and effective operations.

Furthermore, regulatory change management helps foster a culture of compliance within organizations. When employees are educated about changes in regulations and why compliance is necessary, they are more likely to adhere to regulatory requirements in their day-to-day activities. This can help prevent compliance violations and unethical behavior, creating a more ethical and responsible organizational culture.

Another key benefit of regulatory change management is improved risk management. By closely monitoring regulatory changes, organizations can identify potential risks related to compliance, reputation, and operational disruptions. By addressing these risks through proactive measures, organizations can reduce their exposure to potential threats and build a more resilient and sustainable business.

Overall, regulatory change management is a valuable tool for organizations across all industries. While it may require time and resources to implement and maintain, the benefits far outweigh the costs. By staying informed about regulatory changes, organizations can ensure compliance, make better decisions, foster a culture of compliance, and improve risk management.

In today’s rapidly changing business environment, regulatory change management is more important than ever. Organizations that prioritize regulatory compliance and take a proactive approach to managing regulatory changes are better positioned to succeed in the long run. As regulations continue to evolve, organizations must adapt and embrace regulatory change management as an essential part of their overall strategy.

In Conclusion

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