February 08, 2014 | London: MetricStream Inc., the market leader in Enterprise Governance, Risk, and Compliance (GRC) solutions demonstrated its proven solutions for operational risk management and compliance at the 8th Annual Banking Operational Risk Management Summit that was held in Berlin from February 4-6, 2014. The event brought together experienced risk and compliance professionals in the banking sector to share insights on best practices and key areas of concern for the industry. Brenda Boultwood, Senior Vice President of GRC Solutions at MetricStream addressed the complexities of today’s operational risk management landscape during her speech on the topic 'Levels of Integration in Operational Risk Management.'

Linking Risk and Control Self Assessments (RSCA) to control testing, Brenda examined different risk perspectives in association with Risk Assessment in Security Argumentation (RISA), as well as shared her expertise on unifying organizational efforts across Operational Risk Management (ORM), audit, internal controls, compliance, corporate policy, IT risk, third-party risk, business continuity management, and disaster recovery - all of which are key to developing a truly integrated operational risk management program.

The lingering global recession has exposed several major woes still plaguing the banking industry. Senior management and banking professionals remain concerned over existing and forthcoming regulations governing the industry. A review of the operational risk regulatory framework by the Basel Committee on Banking Supervision's Standards Implementation Group on Operational Risk (SIGOR) is crucially important for the sector.

The 8th Annual Operational Risk Management in Banking Summit was designed to present leading insights on the main challenges facing the industry, upcoming regulations, and innovative approaches to operational risk management. The latest technologies, tools, techniques and models that are essential to address operational risk management were also explored. Additionally, the conference sessions explored the strategies needed to identify and evaluate emerging risks and understand the differences between risk appetite and risk bearing capacity.

MetricStream’s Operational Risk Management Solution enables organizations to identify and assess risks, define controls, schedule audits, as well as provide recommendations and remediation plans to be considered throughout the risk management and risk mitigation process. The solution integrates ORM related data and processes to give management a holistic view that supports analysis and decision-making.

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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