June 14, 2013 | Paris, France: MetricStream, the market leader in enterprise-wide Governance, Risk, and Compliance (GRC) solutions recently held a GRC and audit roundtable event for banks and financial services institutions titled “Aligning GRC for Delivering Greater Business Value.” The event took place on June 10, 2013 at the Renaissance Hotel - Paris La Defense, in Paris, France. Several distinguished France-based GRC leaders and executives were in attendance.

“MetricStream is delighted to provide a platform for such engaging conversations on improving business performance through efficient GRC programs,” said Piyush Pant, Vice President of Strategic Markets at MetricStream. He continued, “It is very exciting for MetricStream to exchange views and bring the benefits of global innovation in GRC to the French market as part of our ongoing commitment to the European business community.”

A discussion around the significance and role of an efficient GRC program to enhance compliance and business performance took center stage at the event. Several regulations including the European Market Infrastructure Regulation, the Dodd-Frank Wall Street Reform, the Consumer Protection Act, the upcoming Basel III guidelines, and the UK Bribery Act all govern the European business environment. The European economy is also currently in a state of flux, leading to more stringent regulations that provide more structure around various business activities. As a result, banking and financial services institutions are looking to implement effective compliance, audit, and risk measures in order to manage their risks and ensure compliance. A successful path forward involves the implementation of an integrated GRC technology solution that can manage a multitude of requirements within a single and central platform.

At this roundtable event, speakers discussed the various challenges faced when implementing and monitoring a proficient GRC program that adds real value to the business. Executives also shared best practices for implementing an enterprise-wide GRC program, and highlighted the importance of training employees to understand and leverage risk information effectively. The event sessions were interactive and elicited enthusiastic participation from the attendees.

In his keynote address, Mr. Pant, illustrated the importance and benefits of aligning GRC to business strategy, and detailed the pros and cons and best practices of an enterprise GRC implementation. He also moderated a panel discussion that explored how to create and demonstrate the value of Operational Risk Management. The panel was comprised of well-respected industry leaders including Christophe Canler, Chief Risk Officer at GE Capital SAS, and Cedric Merahi, Risk Management Specialist at MetricStream. During the panel discussion they explored the different factors to consider when choosing, designing, and implementing an effective operational risk management system. They also outlined existing and upcoming regulations that will impact European banking and financial services organizations.

Jonathan Curtis, Director of European Business Operations at MetricStream also moderated a panel on the contribution of Internal Audit in our highly-regulated and scrutinized business environment. The panelists included Hans Willert, the Managing Partner and Founder at Bleu Azur Consulting, and Nathalie Chauveau, Senior manager at Finaxium Consulting. The group provided valuable insight on the current market scenario, and addressed concerns such as whether existing internal audit systems are prepared to address today’s evolving risks, as well as what internal auditors need to do in order to help their organization meet the rising expectations of various regulatory bodies.

About MetricStream

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. 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, health care, life sciences, energy and utilities, consumer brands, government, technology, and manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India, and sales and operations support in 12 other cities globally.(www.metricstream.com).

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