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UBS selects MetricStream for audit management

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CIOL Bureau
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BANGALORE, INDIA: UBS, a global financial services firm, and MetricStream, a Bangalore-based enterprise-wide governance, risk, compliance (GRC) and quality management solution provider, announced that the former selected MetricStream GRC platform to support its internal audit management processes.

Markus Baumann, COO, Group Internal Audit, UBS, said: "UBS Group Internal Audit supports the board of directors and its committees by independently assessing the effectiveness of UBS’ system of internal controls and compliance of the firm with statutory, legal and regulatory requirements. Therefore, it is important to the success of our business that internal audit processes are supported by a versatile, best-in-class system that helps us to maximize our effectiveness and efficiency. We believe that MetricStream will help us to streamline and optimally support our processes through its robust and yet configurable internal audit management system."

Shankar Bhaskaran, Senior Director at MetricStream, said: “UBS’ selection of MetricStream for its Global Internal Audit function speaks to our functional and technical excellence in helping banks and financial services companies meet crucial GRC challenges in critical areas such as internal audit, risk management, regulatory compliance and overall integration of these applications with business performance and corporate governance. In addition to application functionality, customers are increasingly focusing on technology and architecture when selecting GRC systems.”