Associated Banc-Corp Selects MetricStream for Integrated GRC
MetricStream to integrate and streamline the bank's compliance, risk, and IT GRC processes, and align them with broader strategic decision-making efforts
PALO ALTO, Calif., Aug. 6, 2013 /PRNewswire/ -- Leading Midwestern-based financial services company, Associated Banc-Corp, recently selected MetricStream to provide integrated solution management for its various Governance, Risk, and Compliance (GRC) processes.
Built on a single scalable GRC platform, the solution will help unify, streamline, and improve visibility into Operational Risk Management (ORM), Enterprise Risk Management (ERM), vendor risk management, IT GRC, and compliance with banking regulations and other laws and regulations applicable to financial institutions. The solution will also aggregate critical risk and compliance intelligence from across the enterprise in real time, enabling management to make proactive and actionable strategic decisions.
With total assets over $24 billion, Associated ranks among the top 50 publicly traded U.S. bank holding companies. Headquartered in Wisconsin, Associated is home to more than 4,800 employees working across approximately 240 banking locations. The company offers a broad range of financial products and services to over 150 cities across Wisconsin, Illinois, Minnesota, Indiana, Michigan, Missouri, Ohio, and Texas.
"Our main challenge around risk and compliance management has been the fragmentation of information across the organization. Therefore, we chose to make the investment and leverage technology to have a unified view of the enterprise-wide GRC program," said Laurie Flom, Senior Vice President, Director of Enterprise Risk Management at Associated. "MetricStream is our chosen vendor because of the comprehensive solution sets offered, the integrated and flexible data model structure, and the multi-dimensional hierarchy mapping. We look forward to implementing the system and continuing our strong relationship."
MetricStream's Integrated GRC Solution will scale across multiple locations, consolidating and harmonizing risk, compliance, and IT GRC processes into a single common point of reference. Associated will be able to streamline compliance and control assessments and monitoring, in line with SOX and the Office of the Comptroller of the Currency (OCC) regulations. The company will also be able to simplify and strengthen risk identification, assessment, monitoring, and mitigation across operational risks, vendor risks, and enterprise risks.
All risk data, including risk-control self-assessments, Key Risk Indicators (KRIs), losses and near misses, issues and remediation plans will be brought together in a single framework for increased top-level visibility. Powerful dashboards, analytics, and reports will deliver valuable risk insights, enabling Associated to optimize risk-reward outcomes.
The solution will also provide a centralized IT GRC framework to support IT risk identification and analysis, control design and monitoring, and issue remediation.
"We look forward to working with Associated on this important journey towards integrated and pervasive GRC," said Gaurav Kapoor, Chief Operating Officer at MetricStream. He continued, "Faced with volatile markets and increasing regulatory oversight, financial services institutions are rapidly replacing point systems with GRC frameworks. MetricStream helps organizations of all sizes approach GRC in a collaborative and comprehensive manner by breaking down restrictive silos, automating resource-intensive processes, and providing real-time risk and compliance intelligence. This enables organizations to thrive on risk by leveraging their GRC processes to drive better business performance."
Associated will also leverage world-class content from RiskSpotlight, a MetricStream partner, to support and strengthen its risk management programs. RiskSpotlight is a best of breed library of defined risks linked to relevant causes, controls, KRIs, and impacts. RiskSpotlight has partnered with MetricStream to deliver content-rich risk management applications to customers as a part of Zaplet, MetricStream's open and flexible cloud platform and ecosystem for building and distributing specialized and niche GRC applications that address specific industry challenges.
About Associated Banc-Corp
Associated Banc-Corp has total assets of $24 billion and is one of the top 50, publicly traded, U.S. bank holding companies. Headquartered in Green Bay, Wis., Associated is a leading Midwest banking franchise, offering a full range of financial products and services through approximately 240 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.
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 can be reached at www.metricstream.com.
Ms. Autumn M Latimore
Senior Vice President
Public Relations Director
Phone: +1 414-278-1860
Cell: +1 262-880-4195
Mr. Vinay Bapna
Senior Director Marketing
Read more news from MetricStream.
More by this Source
Tronox Chooses MetricStream Solution for SOX Compliance
Dec 03, 2013, 08:45 ET
Announcing the MetricStream GRC Summit 2014 in Las Vegas
Nov 07, 2013, 08:30 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.