June 12, 2011 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced its participation in the American Bankers Association (ABA) Regulatory Compliance Conference which will be held from June 12-15, 2011 in Washington D.C. The conference will provide a vast array of best-in-class resources, interactive sessions and insights on regulatory compliance management in banks, from leading regulatory experts.
The US banking industry is experiencing sweeping changes with the passage of landmark reforms such as the Dodd-Frank Act Wall Street Reform and Consumer Protection Act. The efficiency with which these new reforms are managed and integrated into operations isbecoming an indicator of success. In fact, regulatory compliance is increasingly being leveraged by banks to differentiate themselves from the competition, and enhance the trust of stakeholders and customers.
The ABA conference will help banks learn how to enhance their regulatory compliance programs for optimal effectiveness. Now in its 25th year, the event is set to bring together experienced bank compliance officers, auditors, legal counsel, regulatory officials, bankers and consultants to share their experiences and insights on compliance management.
MetricStream will be participating in the conference and showcasing its market-leading compliance management solution. Recognized for its rich features, flexibility and extendibility, MetricStream Solution is chosen by leading global financial institutionsincluding Central Banks, Federal Financial Agencies, Asset Management firms, Retail Banks, Broker-Dealer firms, Investment Banks, Stock exchanges and Clearing corporations.
The solution provides a common framework to integrate and manage all compliance regulations, ranging from corporate compliance policies and standards, to external mandates such as the Dodd-Frank Act, Basel laws, AML provisions, SOX and PCI-DSS. Built on a central platform, the solution helps streamline and sustain compliance and controls processes across the enterprise. Redundancies are eliminated, errors are minimized and a closed-loop compliance framework is established.
Powerful dashboards and risk heat maps provide real-time visibility into the compliance status at an enterprise-level, highlighting issues that need to be addressed. Simultaneously, an integrated content management module provides a centralized repository for the efficient organization and management of compliance regulations, standards and policies. Integrated collaboration and workflow tools can be used to access, create, modify, review, and approve regulatory policies globally in a structured manner.
MetricStream Solution is embeddedwith regulatory intelligence management features thattrack and capture data from variousexternal regulatory sources. Coupled with automatic alerts, these features help ensure that banks are always up to date on new regulations and changes to existing ones.
MetricStream also provides a Regulatory Relationship Management Solution which enables banks to efficiently plan, organize and manage regulatory examinations. It helps compliance managers ensure the effectiveness of controls, respond quickly to regulatory examinations, and thus strengthen the institution’s reputation among regulators. It also assists examiners by facilitating a risk-focused examination that targets higher risk areas, and helps determine the appropriate review process.
MetricStream is the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream’s customers include UBS, Société Générale, Pﬁzer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, and NetApp. MetricStream also owns and operates the www.ComplianceOnline.com portal - the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).