September 05, 2013 | Palo Alto, California: MetricStream, the market leader in enterprise-wide Governance, Risk, and Compliance (GRC) solutions, will participate at the Risk Management Association (RMA) Operational Risk Management Discussion Group in Chicago, IL, on September 10th and 11th, 2013. Susan Palm, VP of Industry Solutions at MetricStream will moderate a panel discussion on ‘Business Continuity as an Extension of Information Security and Risk Management’, at this two-day event. Senior financial services industry practitioners will convene at this forum to learn and exchange ideas on the challenges and best practices involved in operational risk management.

The concept of operational risk is not new and has gained prominence only over the last few years. The financial services industry today operates in a market landscape dominated by growing consolidation, increasing regulatory requirements, sophisticated cyber-attacks, and fierce competition. These factors engender various operational risks ranging from inadequate or failed internal processes, people, and systems, to fraud and data mismanagement, to poor management quality and operational costs. Inadequate controls, a check-the-box and siloed approach to managing these risks will only increase the probability of failure or mistakes.

Companies need to adopt a robust and integrated operational risk management program to gain a better understanding of their operational risks and to manage them more efficiently. Organizations can utilize a technology solution to ensure that all operational risk management initiatives are well aligned with the corporate strategy and overall business objectives. Some of its other utilities comprises of assessing operational risks, defining controls, managing audits, and implementing recommendations and remediation plans.

This two-day event will witness industry experts sharing their successes and failures, exploring issues and exchanging insights on the major tactical and strategic challenges they had to deal with while heading their institutions’ operational risk management initiatives. Key discussion points include:

  • The essential measures to mitigate risk with the help of advanced ORM tools
  • Best practices that can be adopted for scoring of risks and controls
  • Ensuring compliance with recent regulations such as Unfair, Deceptive, Or Abusive Acts Or Practices (UDAAP)
  • Protecting an organization against sophisticated cyber attacks

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

Press contacts

Molly Palm : pr@metricstream.com | (925) 451-1468

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