October 29, 2014 | Palo Alto, California: Dubai Aluminium PJSC (“DUBAL”) – an operating subsidiary of Emirates Global Aluminium PJSC (“EGA”), one of the five largest aluminum producers in the world – and MetricStream, a leading provider of Governance, Risk, and Compliance (GRC) solutions have been jointly honored with the GRC 20/20 Research “2014 GRC Value Award” in the category of Risk Management.
The annual GRC Value Awards recognize real-world implementations of GRC programs and processes that have returned significant and measurable value to an organization. EGA and MetricStream were honored for implementing a world-class ERM architecture which provides an integrated view of risk in near real time, and enables a systematic and automated approach to the entire risk lifecycle.
“Together, EGA and MetricStream have demonstrated measurable value in terms of GRC efficiency, agility, and effectiveness,” said Michael Rasmussen, Chief GRC Pundit at GRC 20/20 Research. “EGA’s ERM framework, enabled and supported by MetricStream, spans the organization like a central nervous system, mapping risk and control information, and rolling up data from across business units to provide a cohesive, enterprise-wide view of risk. These are signs of a mature risk management program that is able to protect and enhance shareholder value.”
The MetricStream ERM Solution has enabled EGA to streamline, automate, and harmonize their risk management processes, strengthening compliance with ISO 31000:2009 and other risk management standards. The solution spans across various organizational silos, improving coordination on risk management activities, while strengthening risk visibility and accountability. It also enables quantitative risk assessments and Monte Carlo simulations to help EGA quickly understand risk probability and impact.
“We are very pleased to be recognized by GRC 20/20 for a leading risk management program, enabled by MetricStream,” said Toby Shore, Corporate Treasurer and Chief Risk Officer at EGA. “By integrating and standardizing our risk processes and risk language, we have been able to better quantify and articulate enterprise risks, drive more risk-intelligent business decisions, and ensure that resources and focus are directed to the areas of greatest risk.”
“We are delighted to receive the 2014 GRC Value Award with EGA,” said Shankar Bhaskaran, GM and VP of International Business Operations at MetricStream. “Organizations today face unprecedented risks related to distributed business operations, virtual and mobile technologies, mounting regulatory pressures, and the explosion of big data. Overcoming these challenges is far from easy, but with MetricStream’s ERM solution, leading organizations like EGA have successfully transformed their ERM programs to become more streamlined and pervasive across the organization, transforming their risk data into meaningful insights that enable them to mitigate threats proactively.”
Please click here to access GRC 20/20 Research’s case study document on the company’s Risk Management program.
To register for the webinar “Building an integrated and sustainable ERM framework” on December 17th, 2014 at 8am EST | 5pm GST, with panelists from EGA, GRC 20/20 Research, and MetricStream, please click here.
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.
Emirates Global Aluminium (“EGA”) is a jointly-held, equal-ownership company formed by Mubadala Development Company of Abu Dhabi and the Investment Corporation of Dubai by combining their respective aluminium industry interests. EGA’s core operating assets are Dubai Aluminium (“DUBAL”) and Emirates Aluminium (“EMAL”), whose combined production capacity of 2.4 million tonnes per annum places EGA among top five primary aluminium producers in the world, by volume. The UAE-based EGA also owns Guinea Alumina Corporation (“GAC”), a strategic bauxite mine and alumina refinery development project in West Africa. In addition, EGA has plans for significant local growth and international expansion.