Banks audit, compliance and risk management to be integrated on MetricStream GRC Platform
(PRWEB) June 22, 2010 -- SunTrust Banks, Inc., one of the largest banking organizations in the US, has chosen MetricStream, the leader in Governance, Risk, Compliance (GRC) solutions, to integrate audit, compliance and risk management functions across the enterprise on a common GRC platform.
SunTrust will consolidate various risk, compliance and audit processes on an integrated, enterprise-wide architecture with MetricStream GRC Platform serving as the underlying technology framework. MetricStream solution will deliver comprehensive functionality to support the execution of SunTrust’s key GRC disciplines with capabilities for:
- Audit Management: Risk-control assessments, annual audit planning, project resource estimation and management, audit project management, time capture and reporting, workpaper management, control testing, issues management and audit reporting
- SOX Compliance: Process assessments, internal control assessments, control management, control testing, surveys and certifications, issue management, compliance reporting and document management
- Regulatory Compliance: Risk assessments, control assessments, issue management, compliance reporting, control testing and document management
- Operational Risk Management (ORM): Risk-control assessments, Key Risk Indicators (KRIs), loss data capture, scenario analysis, control testing, risk reporting, issue management, document management
David Bilko, Senior Vice President and Corporate Operational Risk Officer, at SunTrust, says: “Using MetricStream as the technology backbone to integrate and streamline our processes for audit, compliance and risk management will further strengthen our ability to have a common integrated data-model for risk and compliance across the enterprise”
Gaurav Kapoor, CFO and General Manager at MetricStream says: “Through an integrated GRC initiative, financial institutions are taking a strategic view towards the changes in the regulatory environment, the critical role of internal audit and the evolving models and standards in risk management. We are looking forward to helping SunTrust in this important initiative.”
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, NASDAQ, UBS, SanDisk, BP, Subway, Fairchild Semiconductor, Hitachi and TaylorMade-Adidas Golf in diverse industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.
Read the full story at http://www.prweb.com/releases/2010/06/prweb4168294.htm.
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