Banking and Financial Services
Providing collaboration, transparency, and intelligence for GRC


Compliance Risk Management Solution

Banking organizations have continued to grow and expand the scope, complexity, and global nature of their business operations. The regulatory environment where the banks operate has also evolved and turned much more complex today. The corporate compliance function is faced with the challenge of managing increasing compliance risks both within and across business lines, support units, legal entities, and jurisdictions of operations. However, most banks are using point-based legacy systems or excel spreadsheets to manage their compliance risk programs.

The Federal Reserve Bank (FRB) also requires large, complex and foreign banking organizations to adopt a firm-wide compliance risk management program to identify, assess, control, measure, monitor, and report compliance risks in adherence with compliance policies and procedures and risk management standards. This involves key regulatory requirements including laws such as anti-money laundering (AML) program, the Bank Secrecy Act (BSA), the U.S. Department of Treasury (DoT) rules and regulations, the Federal Reserve guidelines, and others. The Department of Justice, the SEC, the OCC, the IRS, and the Federal Reserve frequently conduct regulatory examinations to ensure that these programs are well documented and adhere to necessary guidelines.

MetricStream provides a comprehensive solution that helps banks comply with the wide range of rules and standards, while implementing a firm-wide compliance function to oversee and mitigate compliance risks, and promote a strong culture of compliance.

Some of the highlights of the solution are:

  • The solution is deployed by leading financial institutes and regulators to help them put in place a dynamic compliance framework that is effective and efficient.
  • The solution provides a consistent process to identify, assess, mitigate and document banks' compliance risks.
  • The solution monitors compliance activities and ensures that all gaps are appropriately highlighted and reported to the compliance team.

MetricStream Solution ensures consistent compliance and controls process across the enterprise, eliminating any deviations and errors as well as redundant activities resulting in reduced over-all compliance costs. The solution also has powerful MIS capabilities for streamlined regulatory reporting. In addition, the solution ships with embedded compliance dashboards and heat maps that provide enterprise-wide visibility into the compliance management process, highlighting issues that need to be addressed. The solution also provides tremendous flexibility by enabling users to configure ad-hoc or scheduled reports.

MetricStream Solution also provides other intelligent and content-driven features such as access to best practices and training from an expert community within the solution and integration of business processes with notifications and industry alerts.


Solution Brief: Sound and Effective Compliance Risk Management
Case Study: Global Bank Brings Compliance Risks under Control


Recorded Webinar: Rethinking Operational Risk
Expert Speaker: Christopher E. Mandel
September 28,2011

Select Customers in Banking