October 08, 2013 | Palo Alto, California: MetricStream, a leading provider of Governance, Risk, and Compliance (GRC) solutions, and Sterling Bank, one of the largest community banks in the western U.S., have been honored with the 2013 GRC Value Award in the“Enterprise GRC” category by GRC analyst firm, GRC 20/20. The Inaugural GRC Value Awards recognize real-world implementations for Governance, Risk Management, and Compliance programs and processes that have returned significant and measurable value to an organization. MetricStream and Sterling Bank were recognized for their collaborative efforts towards implementing an automated and integrated GRC program, enabled by MetricStream’s Enterprise GRC Solution Suite.
“Together, MetricStream and Sterling Bank have demonstrated proven business value in Enterprise GRC,” said Michael Rasmussen, Chief GRC Pundit for GRC 20/20 and internationally recognized expert. “With the help of MetricStream’s GRC solutions, Sterling Bank has transitioned to a more collaborative and top-to-bottom approach to GRC that enables them to aggregate real-time GRC data from across the enterprise, and leverage this information to drive risk-based decisions and business strategy. These are commendable steps towards building a mature and sustainable GRC culture.”
MetricStream’s Enterprise GRC Solution Suite enabled Sterling Bank to replace hundreds of audit, risk, and reporting spreadsheets and documents with a single-source GRC solution that brings together various GRC functions including risk, compliance, internal asset review, and policy management to establish a single enterprise-wide view.
“We are delighted to be recognized by GRC 20/20’s 2013 Value Awards,” said Dan Gunther, VP, Enterprise Risk Manager at Sterling Bank. He continued, “Our efforts to integrate and consolidate GRC processes have helped us create more accountability and transparency around risk management, strengthen risk reporting to the board, and more quickly resolve issues that arise. Today, we are better positioned to focus our resources on addressing the risks that really matter to our organization.”
“It is an honor to be recognized alongside Sterling Bank by GRC 20/20’s 2013 Value Awards,” said Gaurav Kapoor, Chief Operating Officer at MetricStream. He continued, “Companies today are operating in a high-growth, high-risk, and highly regulated business environment. Sustaining growth while also staying ahead of risks and regulations requires that companies adopt a GRC solution that can enable flexible risk and compliance processes, while also supporting a culture of collaboration and information-sharing. Our world class GRC platform, solutions, and unrivaled domain expertise are why leading organizations choose MetricStream to power their GRC programs.”
Award recipients have been acknowledged in the GRC 20/20 blog at: http://www.grc2020.com/index.php/blog/680-announcing-the-grc-20-20-2013-grc-value-award-recipients
Solution providers and GRC practitioners were evaluated in the following categories: Enterprise GRC, 3rd Party Management, Audit Management, Business Continuity, Compliance Management, Control Monitoring/Assurance, Environmental Health & Safety, Fraud, IT Security Risk Management &Compliance, Identity & Access, Insurance & Claims Management, Investigations, Legal, Policy Management and Risk Management.
About GRC 20/20
GRC 20/20 is the authority in understanding how organizations implement GRC practices that are effective, efficient and agile. Through independent research and industry interaction, GRC 20/20 advises the entire ecosystem of GRC roles within organizations, technology and knowledge solution providers, and professional service firms. Organizations engage GRC 20/20 when they need insight, guidance and advice in dealing with a dizzying array of disruptive issues, challenges, processes, information and technologies while trying to maintain control of a distributed and dynamic business environment. Visit GRC 20/20 at http://www.grc2020.com/ and follow on Twitter at @GRCPundit.
About Sterling Bank
Sterling Savings Bank, the principal operating subsidiary of Sterling Financial Corporation of Spokane, Washington, is a Washington state chartered and federally insured commercial bank. Sterling Savings Bank does business as Sterling Bank in Washington, Oregon and Idaho and as Argent Bank and Commerce National Bank in California. The bank offers banking products and services, mortgage lending, and trust and investment products to individuals, small businesses, corporations and other commercial organizations. As of June 30, 2013, Sterling Financial Corporation had assets of $9.94 billion and operated depository branches in Washington, Oregon, Idaho and California. Visit Sterling Bank’s website at www.bankwithsterling.com.