US based SunTrust selects MetricStream for GRC

BANGALORE, INDIA: SunTrust Banks, Inc., a banking organizations in the US, has chosen Bangalore based MetricStream, a provider in Governance, Risk, Compliance (GRC) solutions, to integrate audit, compliance and risk management functions across the enterprise on a common GRC platform.

SunTrust would 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 would deliver comprehensive functionality to support the execution of SunTrust’s key GRC disciplines with capabilities for Audit Management, SOX Compliance, Regulatory Compliance and Operational Risk Management (ORM), said a press release.

David Bilko, senior vice president and corporate operational risk officer, at SunTrust, said, “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 added that 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,” he said.