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Amid increasing regulatory scrutiny, the call for greater financial transparency, and significant operational challenges, energy and utility firms face a rising demand for Governance, Risk and Compliance programs that improve accountability and enhance efficiency. Failure to effectively manage today’s regulatory and technological changes can be detrimental to the success of the organization, and can result in damages – costly both in terms of dollars and reputation.

Energy firms are always looking for new energy supplies, which frequently require huge upfront investments. There is greater uncertainty about the potential long-term outcomes resulting from such efforts. There is also greater volatility in the natural resource supply and trading environment, in addition to more complex stakeholder and business relationships. When it comes to today’s financial regulatory landscape, challenges are also complex, with the adoption of International Financial Reporting Standards and Section 404 of the Sarbanes-Oxley Act for US-based firms.

All of this necessitates that energy and utility firms adopt a more strategic approach towards their governance and compliance programs. Finding ways to manage corporate governance, internal controls and external reporting necessitates a governance, risk and compliance solution that can manage risks emerging from industry consolidation and market volatility, in addition to monitoring compliance and regulatory requirements.

In the utilities sector, organizations are actively seeking ways to minimize fines, negative publicity and lost business arising from compliance failures. Compliance systems and organizational structures for utilities need to be designed in a way to ensure compliance with the existing laws, and scale in a way that can keep pace with ever-changing regulatory requirements. Strong risk mitigation, compliance, and operational efficiency calls for robust data interpretation using records from various engines, business process models, and quantitative analytics.

Join Chris Humphreys, CEO and Director of The Anfield Group and Timothy Schmutzler, Regional VP of GRC Solutions at MetricStream during this webinar as they discuss best practices in helping energy and utility firms build an effective and sustainable GRC program.

Key points of discussion include:

  • Challenges faced by energy and utility firms
  • Key components of a robust GRC framework
  • Methodologies involved in building a sustainable GRC program
  • Utilizing technology to integrate different components of GRC

Attend this Webinar
This webinar is scheduled to take place on December 05, 2013, at 9:30AM Pacific Time. To register for this webinar, and to learn more about the webinar and the speakers, please click here.

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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