Intelligent Regulatory Compliance
Marcus Spies, Rolf Gubser, Markus Schacher · 2010
This chapter presents an approach to intelligent regulatory compliance (IRC) in operational risk management. The approach relies on specifications by the Object Management Group (OMG) fostering a holistic view of enterprise resources, processes and performance management under the umbrella of a business motivation model (BMM). An additional model detailing business vocabularies and business rules, Semantics of Business Vocabularies and business Rules (SBVR) allows the definition of the directives, policies and rules of a regulatory framework in a formalized way. It shows that the integrative enterprise modelling approach based on BMM and SBVR is sufficient to set up suitable management processes and business scorecards for enabling intelligent regulatory compliance. The chapter concludes by showing how the next step of implementing IRC with appropriate software components could be reached, using the software engineering methodology advocated by the OMG, namely the model-driven architecture (MDA) together with Unified Modeling Language (UML). Controlled Vocabulary Terms business forecasting; statistical measures