Regulatory Compliance Management Glossary

  • September 26, 2018
  • Quantivate

Compliance management is no easy task. Tracking constantly changing regulations and deciphering complex requirements can become overwhelming. To keep up, you need a good grasp of important compliance concepts. Get a head start with this glossary of key terms you need to know:

Get a copy of this compliance glossary in PDF format. 


Compliance Management Terminology


The verification of the identity of an individual, system, machine, or any other unique entity


The process of allowing access to specific areas of a system based on the role and needs of the user


Any type of modification to your organization; can stem from internal changes or regulatory changes


Conforming to regulatory guidelines

Due Diligence:

The process of assessing new vendors, performing vendor risk assessments, and approving compliance program policies


Processes and structures implemented to communicate, manage, and monitor organizational activities


The influence and effect of a risk

Key Control:

A primary control that is essential for a business process; typically takes place during the process it applies to


The probability of a risk occurring

Mitigation Actions:

The necessary steps, or action items, to reduce the likelihood and/or impact of a potential risk

Non-Compliance Risk Assessment:

An assessment of organizational risk associated with failing to comply with industry laws and regulations or internal policies


A potential event or action that would have an adverse effect on the organization

Risk Appetite:

A statement that broadly considers the risk levels that management deems acceptable

Rule or Regulation:

A description of how a law will be implemented

Secondary Control:

An important control that typically takes place after the process it applies to (i.e., reporting or ongoing monitoring)

Tertiary Control:

A non-essential control that can still be applied effectively to a business process

Could your organization benefit from a compliance management partner?

Learn more about how Quantivate’s Regulatory Compliance Management Software can help you stay a step ahead of regulatory change and streamline your management processes.