Regulatory Compliance Project Template

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Stay ahead of regulatory changes and ensure your bank's compliance with privacy laws using this comprehensive template. Designed for privacy counsels and consultants in the banking industry, this project template helps you monitor changes, update policies, conduct training, and perform regular audits.

With clearly defined tasks and subtasks, you can efficiently manage compliance activities, maintain records, and communicate with regulatory bodies, ensuring your bank remains compliant and avoids costly penalties.

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Regulatory Compliance Project for Priority Matrix

Regulatory Compliance Project in Priority Matrix

Ensure your bank stays compliant with ever-changing privacy laws and regulations.

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Proposed Tasks

Critical Updates

  • Monitor Regulatory Changes - due in 1 day
    ☐ Identify new regulations ☐ Review changes to existing regulations
  • Update Data Breach Response Plan - due in 1 month
    ☐ Review current plan ☐ Update as necessary
  • Test Data Breach Response Plan - due in 3 months
    ☐ Conduct test ☐ Update plan based on results
  • Data Protection Impact Assessment - due in 6 months
    ☐ Conduct assessment ☐ Implement recommended changes
  • Test Incident Response Plan - due in 10 months
    ☐ Conduct test ☐ Update plan based on results
  • Conduct Privacy Risk Assessment - due in 1 year
    ☐ Conduct assessment ☐ Implement recommended changes

Compliance Tasks

  • Update Compliance Policies - due in 1 week
    ☐ Revise policies to reflect regulatory changes ☐ Get approval for changes ☐ Disseminate updated policies
  • Review Data Processing Activities - due in 1 week
    ☐ Review data processing for compliance ☐ Make necessary changes
  • Conduct Compliance Training - due in 2 weeks
    ☐ Develop training materials ☐ Conduct training sessions
  • Review Data Sharing Agreements - due in 2 months
    ☐ Review agreements for compliance ☐ Update as necessary
  • Review and Update Privacy Notices - due in 3 months
    ☐ Review current privacy notices ☐ Update as necessary
  • Review and Update Data Retention Policies - due in 6 months
    ☐ Review policies ☐ Update as necessary
  • Update Data Protection Officer Training - due in 6 months
    ☐ Review current training ☐ Update as necessary
  • Review and Update Incident Response Plan - due in 9 months
    ☐ Review plan ☐ Update as necessary
  • Review and Update Data Subject Rights Procedures - due in 9 months
    ☐ Review procedures ☐ Update as necessary

Regular Monitoring

  • Maintain Compliance Records - ongoing
    ☐ Document compliance activities ☐ Store records securely
  • Monitor Industry Best Practices - ongoing
    ☐ Keep abreast of best practices ☐ Implement as appropriate
  • Monitor Vendor Compliance - ongoing
    ☐ Review vendor compliance ☐ Address any issues
  • Regular Compliance Auditing - due in 1 month
    ☐ Plan audit schedule ☐ Conduct audits ☐ Address any compliance issues

Miscellaneous Activities

  • Communicate with Regulatory Bodies - as required
    ☐ Respond to enquiries ☐ Submit required reports