2000 attendees, 1100 organizations, 76 global speakers, 57 sessions!
San Jose, California, November 19, 2020: The final day of the MetricStream GRC Summit 2020 proved to be a fitting culmination to the relevant and insightful discussions that had begun two days earlier. Speakers threw light on the importance of staying compliant in a dynamic regulatory environment, using technology to optimize risk management and the increasing importance of enabling the frontline. Watch the videos.
A compelling customer story on frontline risk management and GRC technology was narrated by Thomas Asare, UNICEF Comptroller and Director of the Division of Financial and Administrative Management (DFAM). He shared his experience on running the business in the context of a pandemic: how UNICEF’s experience and focus on GRC technology can serve as a model for dealing with diverse and unknown risks.
He spoke of how before deploying MetricStream’s solutions it was challenging to analyze data in several decentralised locations - 162 countries with field offices, without a common framework. He said, “Without the tech, it was difficult for our decision makers to really make a risk informed decision in those decentralised locations.” He described how UNICEF implemented policy management and a risk assessment program so crucial when risk is managed at the front line. He added, "We made a point that the front line should be able to capture their risk." He continued, "MetricStream platform allows us to have a more coherent approach. Allowed us to analyse and manage risk systematically. Also manages policy compliance exceptions which were previously only manually documented."
In an insightful Panel Discussion on aligning organizational resilience with cyber resilience at UN agencies and international organizations panellists Clarissa Van Heerden, Chief Risk Officer - IOM - UN Migration, Flavio Aggio, Chief Information Security Officer, WHO and Daniel Dobrygowski, Head of Corporate Governance, World Economic Forum discussed how In IT & cyber risk management, the concept of business-driven risk scenarios seems to be lacking. The viewpoint of the business needs to go hand-in-hand with the viewpoint of the cyber team and that is not the case at enough organizations. The panel agreed that the identification of these risk scenarios should be led by the business and the process would be much more effective if it were informed by a model that enables business leads to better understand the impact security controls may have on those risk scenarios.
MetricStream COO, Gaurav Kapoor anchored a Fireside Chat with Nancy J. Luquette, Executive Vice President - Chief Risk Officer, S&P Global on the Future of Risk Management. The conversation covered some of the key risks that have come to the forefront this year - cyber risks, infectious diseases, climate change, and geopolitical conflicts are. Both Nancy and Gaurav agreed that the need of the hour was new strategies with a focus on improving risk visibility and the impact on business objectives, to be embedded in the risk program to manage risks in the new normal.
A superb and insightful presentation was made by Deepak Padaki, EVP, Strategy & Chief Risk Officer at Infosys on the importance and changing face of strategic risk management. Using the analogy of the plight of an automobile manufacturer during the current times, he began by asking a profound question, “How does a company have the opportunity to counter so many disruptive trends?” He stressed that organizations don’t have the luxury of sitting back and looking at all the options and scenarios and then embarking on innovation. What is needed is a quick reaction with the right amount of delegation and empowerment.
About the GRC Summit
This is the eighth year of the GRC Summit. Past keynote speakers include General Colin L. Powell, former U.S. Secretary of State and National Security Advisor; Nassim Nicholas Taleb, author of the New York Times bestseller The Black Swan; Jim Quigley, CEO Emeritus, Deloitte, and Member of the Board, Audit Committee Chair, Risk Committee & Credit Committee, Wells Fargo & Company; and Lowell McAdam, CEO, Verizon Communications, among others. The event is one of the most influential gatherings of GRC business leaders, board members, regulators and practitioners.
MetricStream is the independent market leader in enterprise cloud applications for Governance, Risk, Compliance (GRC)/Integrated Risk Management(IRM). MetricStream apps and software solutions improve business performance by strengthening risk management, corporate governance, regulatory compliance, audit management, vendor governance, and quality management for organizations across industries, including banking and financial services, healthcare, life sciences, energy and utilities, consumer brands, government, technology and manufacturing. MetricStream is headquartered in California, with centers in New York, London, Milan, Madrid, Dubai, Sydney and Bangalore, among several other cities globally (www.metricstream.com).