Maintain the change log, review it quarterly, and retain records seven years
Every change is recorded in a centralized change management log holding its identifier, description and rationale, compliance review findings, approval status and date, sponsor bank notification and response, implementation status, and testing and validation results. The log is reviewed quarterly as part of compliance monitoring and reported to the CEO, high impact changes are reported to the board annually, and all change documentation is retained for seven years.
Quarterly
Log kept continuously; quarterly review to the CEO; annual board report; seven-year retention
Keep every entry current as the change moves through the process, review the full log each quarter and report it to the CEO, summarize high impact changes for the board each year, and hold each record for seven years.
- Change management log
One entry per change with every required field
- Quarterly log review
Period, changes reviewed, findings, date reported to the CEO
- Annual board report
High impact changes in the year, date presented
Compliance Officer
Leela can watch for the trigger, keep the clock, and flag what is late.
Leela can flag log entries missing a required field, keep the quarterly and annual reporting dates, and track each record’s retention date.
Tell Leela about your company to see whether this applies.
Tell Leela how you handle it today, or hand it over: see what’s next.