Banking and Financial Services
Banks and financial services providers must comply with a vast number of national and international regulations. With the recent rise in regulatory oversight, executives and the boards require clear visibility into risk exposure and compliance status to effectively manage the organization's long-term strategies. As a result, companies are looking for a systemic approach to ensure accountability and transparency, to manage and mitigate risks, and to build customer and shareholder confidence.
MetricStream offers an integrated regulatory compliance solution for banks and financial service providers for successfully meeting these requirements while lowering the associated costs that can otherwise be substantial. MetricStream Compliance Platform, a proven infrastructure for building compliance application, provides core modules and services to automate and streamline compliance processes.
MetricStream solution streamlines information flow and issue tracking for effective risk assessment, compliance management and regulatory reporting. The system supports various CCO-level oversight programs, policies and procedure management, auditing requirements, recoding of trading errors, and compliance with Anti Money Laundering and Basel II regulations.
The solution provides a centralized risk framework that enables risk computations based on configurable methodologies and algorithms. It supports end-to-end audit management as well as issue capture, loss event tracking, task management, review and remediation, disclosure processes and status reporting. Risk heat maps and control charts allow risk monitoring and drilldown reports and dashboards provide easy access to granular data.
By leveraging MetricStream's flexible control-hierarchy, organizations can define and maintain a centralized compliance structure with processes, risks, and controls documented for SOx compliance, IT governance, and other risk management frameworks. Assessments can be scheduled and assigned to test and document the effectiveness of controls. Once issues are identified and documented, a systematic mechanism of remediation and disclosure is triggered by the underlying workflow and collaboration engine.
Role-based dashboards, control diagrams, and scorecards provide visibility into the ongoing compliance efforts and bring high-risk areas into focus. The solution has the ability to track issue, process ownership, assessment plans, remediation status, etc. on graphical charts with real-time information that can be accessed globally. Ability to drill-down to deeper levels of information with a single click provides an easy way to access the data at finer levels of detail.
