Digital Risk Solution
MetricStream digital risk management solution empowers businesses to stay competitive and agile in the constantly evolving digital environment. The solution enables organizations to gain better visibility into digital risks associated with technology, business operations, regulatory compliance, cybersecurity, and third-party relationships—strengthening risk awareness and decision-making. MetricStream’s digital risk management tool, built on the MetricStream Platform, simplifies the management of organizational risks related to digitization by providing contextual risk insights, with consistent risk taxonomies. This enables organizations to streamline governance processes and drive innovation while keeping up with the pace, volume, and complexity of digital change.GET MORE DETAILS
Enterprise Risk Management
IT and Cyber Risk Management
Vendor Risk Management
Intelligent Content Libraries
A lot of time may be spent on the design phase of a GRC program, but ultimately, it's about how the program is implemented. There needs to be a focus on engagement, communication, follow-up, and the sustainability of the GRC program.
Dr. Mark Hodgkinson
Operational Excellence Manager
Bahrain Petroleum Company
What drove us to go down the MetricStream route. We had 3 main drivers for change. The first of those was efficiency. The manual system was effective but it was very labor intensive, it was time consuming. There was a lot of people involved in moving a lot of paper around the organization and evidencing that we could do all the things that we needed to do.
Head of Crisis Management
Standard Chartered Bank
The subject of GRC is very new, but all industries are discussing it. GRC will become one of the most important subjects in the next decade.
In terms of benefits of implementation, we've achieved everything we set out to. We have a single source of the truth. The GRC platform is seen by the CRO as the place where all of the risk and control data and loss event data in Nationwide is mastered. It is the central record, the only record that we use to report to the regulator.
Nationwide Building Society
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Safeguard your enterprise in a digital world.
67% improvement in risk reporting visibility and efficiency for the executive management and board.
80% improvement in risk and control framework related operational efficiency.
80% reduction in third-party onboarding time.
50% reduction in the time and costs required to complete third-party risk assessments and identify risks.
Frequently Asked Questions
The Digital Operational Resilience Act (DORA), is a draft legislation designed to improve the cybersecurity and operational resiliency of the financial services sector. The legislation compliments existing laws like the Network and Information Security Directive (NISD) and the General Data Protection Regulation (GDPR). In May 2022, the EU reached a provisional agreement on DORA and this is now subject to approval by the European Union Council and Parliament before the formal adoption procedure.
The right technology can help your resilience strategy by providing a single solution to meet regulatory requirements and the tools to embed risk management practices. Technology can support you by:
- Ensuring that all aspects of an operational resilience framework are easily accessible to view in a single, connected platform simplifying the tracking and managing of the risk
- Enabling data harmonization across teams, business units, and functions
- Providing automation capabilities for risk assessments, control testing, continuous control monitoring, third-party due diligence, etc.
- Ensuring a common federated taxonomy in a central risk library
- Generating powerful reporting and analytics capabilities enabling organizations to create rich analysis and derive deep insights for driving business decisions
For over 20 years MetricStream has been a leader in Governance, Risk, and Compliance (GRC), supporting businesses to take a proactive risk-based approach to compliance, cyber, and third-party risk management and enabling them to manage, coordinate, and track multiple organizations risks across business siloes.
MetricStream brings together aspects of various regulatory frameworks into a single unified system. Enabling organizations to view and track regulation across various frameworks such as PRA, IDW PS 340 n.F, and DORA. The solution seamlessly embeds risk management practices into compliance, cybersecurity, vendor risk management, and business continuity planning to prepare for and prevent potential disruptions. MetricStream also shares best practices and key learnings with organizations, supporting future growth and helping build resilience strategies.
MetricStream Digital Risk Solution empowers businesses to stay competitive and agile in a constantly evolving digital environment. The solution enables organizations to gain better visibility into digital risks associated with technology, business operations, regulatory compliance, cybersecurity, and third-party relationships, thereby strengthening risk awareness and decision-making. Built on the MetricStream Platform, the solution simplifies the management of organizational risks related to digitization. It also enables contextual risk insights, establishes consistent risk taxonomies, and streamlines effective governance processes allowing organizations to drive innovation, while keeping pace with the volume and complexity of digital change.