A Fortune 500 Financial Services Company Successfully Manages Compliance with Customer Interaction Polices and Regulations

Solution

MetricStream was chosen to help the client implement a legal GRC solution that could help overcome existing challenges, while also scaling up to meet future requirements. The selection of MetricStream was based on its vast experience in helping large global financial services companies successfully manage their risk and compliance requirements.
MetricStream Legal GRC Solution provided the client with the following capabilities:

Issue and Case Management

MetricStream Legal GRC Solution enables the client to efficiently track issues from start to finish while handling very large case volumes, as well as varied types of cases, multiple stakeholders, complex workflow procedures, and several review cycles. The solution also helps the company establish and follow consistent procedures for identifying fraudulent and unethical cases, managing tasks, and reporting case statuses. Transparent and real-time reporting capabilities provide clear visibility into all aspects of the case management process, assisting in proactive identification of risks, and timely corrective action.

Investigation Management

With a powerful workflow engine, the MetricStream solution helps the client receive various types of case entries, and then route them to assigned investigators. Post thorough investigations, the cases are moved to a legal officer or an attorney for review. The solution helps ensure that the case manager provides a final sign-off, and closes the case. It also enables each individual or department involved to record and report all important case investigation aspects such as case ID, event type, nature of the case, and witness details.

Compliance Management

Using the MetricStream solution, the client is able to effectively manage a host of regulatory compliance mandates from organizations such as NAIC, FINRA, DOI, SEC, OTS, FDIC, BBB, and FSA-UK. The solution supports compliance management through capabilities for document control, compliance training, on-going audits, recording and reporting of exception events, and corrective actions. By uniquely combining software and content, the solution enables strong and sustainable compliance.

Risk Management

With MetricStream Legal GRC Solution, the client is able to proactively identify and mitigate risks arising from multiple sources including non-compliance issues, litigation threats, protection of intellectual property rights, HR practices, and matters relating to the company secretary, board, and shareholders. The solution provides an integrated risk management framework for assessing and documenting risks, defining controls, identifying potential issues, and implementing risk mitigation plans.