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Overview

In today’s highly regulated business environment, organizations need to successfully navigate their regulatory engagements with supervisors at multiple levels, including federal, state, and international levels. These engagements may vary in scope, ranging from examinations/reviews, to general inquiries, investigations, enforcements, and regulatory meetings. The frequency of these engagements may also vary depending on their purpose - to ensure safety and soundness, to assess capital adequacy, or to evaluate compliance with applicable laws and regulations.

The key to a successful regulatory engagement is to be examination-ready at all times. That, in turn, requires meticulous planning and preparation for each and every engagement with regulatory bodies. Organizations need to have clearly defined processes to securely store and organize examination letters from regulators, gather the requested information quickly and effectively, and successfully submit this information to the regulators.

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Metricstream Regulatory Engagement Management App

The MetricStream Regulatory Engagement Management App enables you to efficiently manage multiple types of regulatory engagements. The app supports each stage of engagement management, right from the time the engagement letter is received by the regulatory liaison office, to the time the final response is submitted to the regulator. It helps you develop a solid regulatory engagement process, thereby simplifying the preparation for impending examinations, regulatory agency visitations, meetings, or investigations.

The app provides a range of capabilities to create a regulatory engagement, manage various tasks and activities, and store regulatory engagement documents in a centralized location. It also helps manage regulatory findings, develop action plans, and submit the final response to the regulator.

Why Metricstream Regulatory Engagement Management App

  • Supports Multiple Types of Regulatory Engagements

    Provides the flexibility to manage various types of regulatory engagements, including examinations, inquiries, and meetings

  • Enables Engagement Management in Line with a Multi-Dimensional Organizational Hierarchy

    Helps users create, manage, and view regulatory engagements based on their access rights, defined according to the organizational hierarchy

  • Facilitates Effective Task and Sub-Task Management Through Outlook Integration

    Provides in-built integration with Microsoft Outlook; enables the effective management of various tasks and sub-tasks through email and calendar notifications

  • Simplifies the Management of Regulatory Engagement Documents

    Helps attach and store documents with all relevant details at each stage of the regulatory engagement; makes it easy to search and retrieve these documents

  • Assists in the Resolution of Regulatory Findings

    Helps in capturing and managing regulatory findings post the submission of responses; enables the creation of relevant action plans

  • Provides Comprehensive Visibility into the Regulatory Engagement Process

    Offers a bird’s-eye view of regulatory engagements, tasks, and findings through role-based dashboards and reports

M7 Platform Highlights

  • 1

    Engaging and Personalized User Experience
    Makes regulatory engagement management processes simple, context-sensitive, and personalized for each user; facilitates an intuitive and engaging user experience

  • 2

    Configurability
    Supports app configurations and extensions in an upgrade-safe and scalable manner through the MetricStream AppStudio configuration framework; helps the organization adapt to change quickly

  • 3

    Mobility and Layering
    Provides a responsive interface that allows the regulatory engagement process to be managed across devices; leverages a REST API integration framework to layer the process over heterogeneous IT systems and business critical infrastructure

  • 4

    Reporting and Analytics
    Delivers powerful visualization tools and analytics to manage and monitor regulatory engagement trends, data relationships, and actions in real time across the extended enterprise

  • 5

    Lean and Robust Architecture
    Is built on a lean, modern, scalable, and extensible architecture that enables the global digital enterprises of today to seamlessly scale up and support new users, while also adding new apps and solutions to meet changing organizational needs

Features

  • Engagement Creation

    Create multiple types of regulatory engagements, including examinations, meetings, inquiries, and other requests. Record all necessary engagement details including engagement title, type, regulator names, and important dates. Tag the engagement to the relevant region and country, as well as the applicable business unit and engagement owner. Document the contact details of both internal and external regulatory contacts. Attach engagement documents, and sort them into pre-defined categories. Record the details of the meetings that were conducted as a part of the engagement, including meeting date and attendee details. Map the engagement to existing engagements, as well as the associated risks, regulatory authorities, and areas of compliance. Specify the engagement materiality, and summarize engagement findings by management.

  • Task and Sub-Task Management

    • Task and Sub-Task Creation

      Create, view, and track tasks for the created regulatory engagements. Record the task details such as title, type, and description. Assign an owner and specify a due date by when the task is expected to be completed. Attach the relevant documents, specify their title, and classify them into pre-defined categories. For each task, add one or more sub-tasks, and provide any additional details, if required.

    • Task and Sub-Task Completion

      Identify and select the task or sub-task to be completed on the “My Tasks” dashboard (which shows all tasks or sub-tasks by status, i.e. due or overdue). View the task or sub-task details and description, and provide the desired response. Track the attachments added during the task or sub-task creation stage, and add more attachments if required. Enter additional details, and view the history of the task or sub-task before submitting the details.

  • Regulatory Findings Management And Action Planning

    • Create Findings and Action Plans

      Create findings for each engagement post the submission of the response to the regulator. Name the finding and classify it according to a pre-defined category list. Assign finding owners, and provide a brief background and summary for each finding. Specify the due date by which the finding needs to be completed. Attach the relevant documents, and enter their title and classification. Specify the root cause of each finding, and tag it as a repeat finding if it has already occurred. For the resolution of each finding, add one or more action plans with titles and descriptions. Assign action plan owners, and set a target date for completion.

    • Respond to a Finding

      Identify and select the finding to respond to on the “My Tasks” dashboard (which displays all tasks and findings with their status). View the details of each finding and its description before providing a response. Track the attachments added during the creation of the finding, and add new attachments, if required. Review the status and history of the finding, and respond to the related action plans.

  • Attachment and Management of Engagement Documents

    Centrally manage various types of regulatory engagement documents, including first day letters, findings response letters, regulatory notifications, supervisory letters, evidence of action plans, email records, and others. Attach supporting documents at each stage of the engagement or task management process. Drag and drop documents directly from your respective folders to the app for uploading. Search documents based on title and type.

  • Pre-Built Integration with Microsoft Outlook

    Leverage the app’s pre-built integration with Microsoft Outlook to collaborate with multiple stakeholders during the engagement process. Set up engagement tasks, sub-tasks, meetings, and action plans which are then automatically reflected in the Outlook calendar as appointments. Automatically trigger email alerts for all assigned tasks. Open the email alerts or appointments from the Outlook calendar, and click on the embedded link to directly access the assignment.

  • Dashboards and Reporting

    Leverage real-time dashboards and reports to gain comprehensive visibility into the regulatory engagement management process. Provide global and regional users with a quick and real-time overview of open engagements, aging engagements by region, open tasks and findings, and engagement trends. View the status of findings, aging findings by region, and closure trends among findings in the last year. Track the status of each engagement, drill down into the engagement details (including tasks and findings), and create new engagements through the “My Engagements” report. Leverage the centralized task inbox to view the most important pending tasks, sub-tasks and findings, with their status. Filter the task information by type, status, or date of completion.

  • Multi-Dimensional Organizational Hierarchy

    Define access rights and permissions at multiple security levels in line with the multi-dimensional organizational hierarchy – global level, regional level, country level, line of business level, business unit level, etc. Set up roles and responsibilities for each engagement and user based on the defined hierarchy. Import the hierarchy - including locations, roles, and users - into the app. Drill down into the access control details for each user. Enable group reporting views, and slice and dice information for regulatory engagements by region, country, and business unit.

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