December 17, 2014 | Palo Alto, California: A leading California-based bank has chosen MetricStream to provide a comprehensive solution for risk and compliance management. The solution will streamline risk assessments of general ledger records, enabling the bank to detect and prevent erroneous financial transactions in near real time.  It will provide a federated framework for managing Enterprise Risk Management (ERM) and Operational Risk Management (ORM), as well as manage quarterly certifications with regulations including the Federal Deposit Insurance Corporation Improvement Act (FDICIA). The solution will minimize the bank’s dependence on spreadsheets and manual tools, thereby improving the overall efficiency and efficacy of the bank’s risk and compliance management program.

Given our extensive regulatory compliance and risk management requirements, the bank was looking for a partner with the technological capabilities and the industry expertise to help them optimize the efficiency of their risk and compliance program.

The MetricStream solution will be used by over 100 employees across the bank’s multiple office locations to manage and track risks, controls, business processes, and regulatory certifications in a systematic and standardized manner. The solution will also integrate with the bank’s General Ledger system to enable financial transaction risk assessments based on advanced methodologies and algorithms.

All of the bank’s risk and control data will be automatically routed by the MetricStream solution to the bank’s internal audit system. The results and status of audits and testing can be easily tracked through the solution. Any issues or incidents that arise can be addressed through a streamlined process of investigation and remediation.

The solution will be deployed over the MetricStream GRC Cloud, enabling the bank to realize faster time-to-value, while also enjoying the benefits of high-grade security, flexibility, and agility. The bank can also extend the underlying GRC platform to address other GRC requirements in the future, including MetricStream solutions for regulatory intelligence, vendor governance, audit management, Credit Asset Review, and policy management.

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).

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Molly Palm : pr@metricstream.com | (925) 451-1468

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