TransRe, a global reinsurer has selected MetricStream’s federated information architecture, which is designed to support the full range of risk and compliance processes, enable multiple reporting facilities and link to existing enterprise.
By bringing together all risk management and compliance activities into a common enterprisewide framework, TransRe expects to benefit from enhanced process efficiency and transparency in tracking regulatory changes, identifying and scoping risks, conducting risk-control self-assessments, risk monitoring and risk reporting.
The architecture is also designed to enable greater collaboration across business units. In doing so, MetricStream says that manual processes will be automated, best practices more easily identified and more time freed to focus on risk analysis. Company-wide dashboards will enable real-time tracking of risk assessments, key risk indicators and risk mitigation activities, as well as providing support for decision-making.
In addition to risk and compliance, according to MetricStream, its federated information architecture supports audit management, financial compliance management, regulatory exams management, vendor governance and IT security.
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