April 14, 2015 | Palo Alto, California: MetricStream, the market leader in Governance, Risk, and Compliance (GRC) Cloud Apps, will participate at the American Bankers Association (ABA) Risk Management Forum to be held in St. Louis, Missouri from April 15-17, 2015, at the Hyatt Regency. Notable banking and financial services industry professionals, risk management executives, auditors, and consultants will share their views on how to strengthen an organization’s risk management program in order to most efficiently and effectively manage risks. Over 500 attendees are expected to be in attendance at this event.

A recent Third-Party and Vendor Risk Management survey conducted by MetricStream and the Risk Management Association (RMA) survey assessed the vendor risk management programs of over 100 leading financial organizations and found that third-party relationships have evolved beyond traditional models of goods and service providers, to include agents, agency agreements, channel and distribution agreements, debt buyers, co-branded products and services, and correspondent bank agreements, among others. Some of the bigger organizations surveyed have thousands of supplier relationships to manage, which is extremely difficult without a mature vendor governance framework in place that is thoughtfully planned, dutifully executed and consistently monitored. The good news – 97% of the surveyed organizations have either defined, or are in the process of defining the ‘critical activities’ in their institution.

Regulatory bodies increasingly expect financial institutions to reduce manual third party management processes and establish more robust vendor risk management programs that span an organization’s entire global network of vendors and third parties. This can also help banks streamline their vendor risk management initiatives, enable continuous monitoring of vendor performance, reduce risk exposure, and drive decision-making, business performance, and customer satisfaction.

During this event, Ryan will share his views on the landscape, heightened regulatory compliance requirements and expectations, and best practices when it comes to building a vendor risk management framework at the Power Breakfast session on Friday, April 17 between 7:00 am-7:50 am. In addition, the three-day conference will have dedicated tracks and panel discussions to address major trends and key challenges facing the financial industry, ways to improve the risk identification process, and the enabling role of technology. The event will also offer delegates unique peer engagement and networking opportunities. MetricStream will be on-site at Booth #25 to meet with event attendees and share information about MetricStream’s leading VRM app, which is used by organizations around the world to strengthen vendor risk management.

MetricStream’s VRM app helps banks & financial services organizations assess, manage and monitor vendor risks efficiently, and enables a methodical and automated approach to managing the full range of processes in the vendor management life-cycle. The VRM app assists organizations in defining the risk profile of each vendor through advanced capabilities for risk identification and integration, risk analysis and classification, control evaluation, and risk treatment and reporting.

To learn more about this event, please click here.

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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