If you need to monitor fields on a module and email when some of them change, you need to use the Activity Log functionality:
1/ modify the field you want to monitor and check what was shown on the activity log so you get the field exact name. In this example i’m looking at the risk originator contact field.
2/ create a dynamic status that triggers when an “Edit” happens on that field. If your status is correct, the status should show on the row you identified on the previous step.
3/ create a warning notification that triggers against that status
4/ change any item to trigger this status, an email should have been sent
