Leading European Wealth Management Firm Chooses MetricStream for ORM

MetricStream to provide an integrated work-flow based-solution for operational risk identification, assessment, and monitoring, as well as loss data analysis, scenario analysis, and risk reporting.

Online PR News – 05-April-2013 – London, United Kingdom: – April 03, 2013| London, United Kingdom: A leading Luxembourg-based financial solutions provider with clients across Europe has chosen MetricStream for Operational Risk Management (ORM). MetricStream’s integrated web-based solution will enable the company to consolidate a wide range of ORM processes in a single framework, enhance risk assessment and analysis, and improve top-level visibility into risk and loss data, thereby strengthening compliance with Solvency II and Basel II risk management requirements.

The firm is a group of companies that provide sophisticated financial solutions designed to meet clients’ objectives around investment planning, inheritance, and retirement planning. The group caters to affluent and high net worth clients across Europe.

The company decided to upgrade their risk management processes and systems to more efficiently comply with Basel II and Solvency II regulations. They found the comprehensive solution that MetricStream offered aligned best with their OpRisk Management strategy. The solution’s ability to integrate operational risk events and risk exposure data from other internal systems, standardize and aggregate risk data for roll-up and analysis, and enhance risk control across their group of companies will help the firm to both anticipate and mitigate operational risks more effectively.

MetricStream Governance, Risk, and Compliance (GRC) solutions are widely employed by a range of financial services organizations including asset management, investment management, and wealth management companies. MetricStream solutions are used to integrate, streamline, and strengthen end-to-end GRC processes, including operational and enterprise risk management, regulatory compliance, audits, policy management, issue or incident management, and reporting.

The MetricStream ORM Solution will be leveraged by the company to implement a more systematic, cohesive, and transparent approach to ORM. The solution will help the organization seamlessly map operational risks to the corresponding business processes, regulations, and controls. It will also interface with enterprise systems to capture, analyze, control, and monitor risks and loss data.

Advanced capabilities for risk-control self-assessments will enable each business unit to independently assess the impact of risks and the effectiveness of controls, while simultaneously rolling the information up to be tracked at the enterprise level. Key Risk Indicators (KRIs) will be continuously monitored, and alerts will be triggered if a risk threshold is breached. The solution will also support scenario analysis as per the AMA and Monte Carlo simulation models, and any identified issues will be proactively routed through a streamlined process of investigation and resolution.

Powerful reporting and dashboard functionalities will provide real-time risk intelligence into risk data to enable executives make more informed and proactive decisions. In addition, integration with analytical and simulation tools will help the organization effectively calculate the economic capital required for Basel II compliance.

Financial institutions are seeing real value in MetricStream’s easy-to-use interface, underpinned by its sophisticated, configurable, and advanced architecture. Highly respected and visionary banks, insurance firms, and financial services organizations across Europe are choosing MetricStream solutions to power their ORM programs and help them build a more resilient business.

About MetricStream
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions for global corporations. MetricStream solutions are used by leading corporations such as UBS, P&G, Constellation Energy, Pfizer, Philips, BAE Systems, Twitter, SanDisk, Cummins and Sonic Automotive in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as several million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and has European offices in London, Paris, Basel and Milan and can be reached at www.metricstream.com.

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