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May 06, 2014 | Palo Alto, California: MetricStream, a market leader in enterprise-wide Governance, Risk, and Compliance (GRC) solutions will participate at the Annual Governance, Compliance and Operational Risk conference hosted by the Risk Management Association (RMA) from May 7-8, 2014 in Cambridge, MA. The event sessions will provide attendees with a better understanding of emerging operational risks, industry best practices, and lessons learned. Susan Palm, Vice President of GRC Financial Services at MetricStream will lead a panel discussion on ‘Getting to Strong: Building a Real Time Risk Profile Through Effective Risk Assessments and Line of Business Control Testing.’ The discussion will shed light on the primary challenges that must be addressed and overcome in order to run a successful and sustainable risk management program.

Today’s ever changing, complex, and high stakes business environment is characterized by increasing cyber threats, heightened competition, and third party risks, in addition to a barrage of regulations governing quality of service and compliance requirements. As such, financial services institutions are forced to rethink the way they manage risk. The banking sector worldwide is struggling to ensure that their business operations are fraud-free and that they remain in strict adherence to regulations such as Sarbanes-Oxley Act. Federal regulations recommend that organizations conduct independent evaluations of their control testing procedures to measure the effectiveness of their operations environment, in order to detect vulnerabilities and emerging risks. At a time when brand value and reputation are at stake, efficient linking of data points, and frequent testing of internal controls remain imperative to increase effectiveness of the business operations, prevent fraud, protect assets, and reduce the cost of compliance. 

During this two-day event, Susan will lead a panel discussion with key industry experts; Frank Santora of Hudson City Savings Bank, Robert Gerden of Wells Fargo, and Kevin Slane of Whitney Bank (Hancock Bank Holding Company). The panel will discuss and share ideas on the importance and benefits of strong control testing procedures to obviate key risk issues in the financial sector. The session will also highlight the process of optimizing the risk & control relationship in the context of a cost benefit analysis, which is required for better decision-making. The panel discussion will also explore the deficits of a manual testing program, which is oftentimes laborious, unreliable, expensive, and prone to risks. The panelists will elaborate on the dire necessity of embedding an automated internal control testing system into the very fabric of their business operations. 

MetricStream GRC solutions are designed to facilitate the process of automated testing of internal controls to ensure adherence to compliance requirements and improve overall operational efficiency. MetricStream solutions, which received accolades as ‘Top Ranked GRC Offering - 2014,’ are built around a unified platform that brings together all aspects of Governance, Risk and Compliance, to support ongoing and real-time evaluation and monitoring of control elements that improve the organization’s ability to identify and manage evolving threats, risks, and compliance requirements. 

To learn more about the event, 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 contact

Sonia Sharma : pr@metricstream.com | India: +91 98450-19197

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