September 08, 2011 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced that one of the world’s largest investment management companies has selected MetricStream Operational Risk Management (ORM) solution for a firm-wide deployment.
The company is one of the world's largest investment management firms and provides investment products and services to individual investors, institutions, and financial professionals. With an assets base of over a trillion dollars, the company offers mutual funds, exchange-traded funds (ETFs), individual stocks and bonds, and convenient access to other funds.
With thousands of employees and extensive worldwide operations of the firm, it is essential for the top managers to assess operational risks when shaping business strategy and making decisions. The company recognized the need for a new platform to manage risk as multiple legacy systems and applications were being used in silos limiting the management’s ability to get a holistic view of risk data and metrics. This upgrade of the company’s operational risk management infrastructure is part of its goal to build a risk-conscious culture, increase collaboration and build resilience for dealing with increased globalization, uncertain business environment, technology advancement and complex financial products.
The firm will use MetricStream ORM solution to provide a central, group-wide risk management and reporting system and obtain a consistent and quick view of overall risk exposures across risk types, departments and geographies. Supported with a flexible data model and extensive workflow capabilities, the solution will centralize all data and processes related to operational risk management in a reusable library of risks and their corresponding controls and assessments, results from individual assessments, key risk indicators, risk data aggregation, internal and external events such as losses and near-misses, issues and remediation plans.
MetricStream is a 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 Procter & Gamble, UBS, Societe Generale, 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).