Regulatory Relationship Management

Financial institutes undergo various types of examinations conducted by federal, state, and international supervisors. The frequency of these examinations varies depending on the purpose - to ensure safety and soundness, or compliance with applicable laws and regulations. Specialty examinations can occur at a different frequency. In certain cases, especially for large financial institutes, these examinations may run throughout the year, as regulators examine each regulatory area of the bank.

The expanding scope of the examinations and the fast changing regulatory landscape, with newer regulations such as the Dodd-Frank Act, Consumer Protection Act, Anti-Money Laundering AML, necessitate effective and efficient management of the examination process.

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MetricStream Regulatory Relationship Management Solution

For successful examinations, financial institutes must be “ examination-ready ” at all times. The prerequisite for this is to organize all the necessary documents and regulatory reports in a centralized repository that is easily accessible. The financial institute must also be adept in planning, preparing, and managing regulatory examinations.

However, most financial institutes use disconnected silos of point-based solutions or MS Excel spreadsheets for examinations. This makes it extremely difficult to manage the entire regulatory examination aspect from a centralized location.

MetricStream provides a common framework and an integrated approach to manage all aspects of regulatory relationship management. The MetricStream solution comes with built-in regulatory content, industry standards, and best practices.

The MetricStream solution also provides function laities to facilitate regulatory reporting. The built-in reporting engine includes a reporting wizard to allow authorized users to create ad-hoc reports on the fly.

The solution includes other intelligent and content-driven features such as access to best practices and training from an expert community. It also integrates business processes with notifications and industry alerts.

Benefits of the Solution

  • Organizes all the necessary documents for the forthcoming examination, and ensure that they are easily secured and accessible
  • Helps the examination team, supervisors, and compliance personnel effectively prepare for and assess the readiness of their organization for the examination
  • Documents, assigns, manages, and tracks to closure all examination findings and resolution plans
  • Automates the examination process, significantly reducing time as well as the costs of for preparation
  • Helps utilize resources effectively for value-added activities such as constructive interactions with the examiners, and appropriate resolution of findings with the business
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