TransRe Selects MetricStream's Risk and Compliance Management Software
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Redwood Shores, CA, 94065
Press release date: September 5, 2013
MetricStream delivers consolidated approach to enterprise risk management for global reinsurer
PALO ALTO, Calif. – When a leading global reinsurer needed an integrated, flexible solution for its risk and compliance management needs, it turned to MetricStream.
Julian Spence, TransRe's Chief Risk Officer, explains: "Enterprise Risk Management is an evolving discipline, and one that touches every part of our organization. As a multi-billion dollar business operating from 24 offices around the world, we need a risk and compliance platform that combines flexibility, ease of use with an intuitive, automated reporting capability. MetricStream's federated information architecture is well suited to our needs."
"We are delighted to support TransRe in integrating their risk and compliance processes," said Gaurav Kapoor, Chief Operating Officer at MetricStream. He continued, "Through our experience with clients in the financial services sector, and in particular (re)insurance, we were able to offer TransRe the package of solutions and expertise they needed to help support their business decisions and reporting requirements."
MetricStream's federated information architecture offers the flexibility needed to support the full range of risk and compliance processes, enables multiple reporting facilities, and links to existing enterprise. In doing so, it supports global operations. By bringing together all risk management and compliance activities into a common enterprise-wide framework, TransRe will 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 allows greater collaboration across business units, while maintaining the ability to deliver separate, local specific requirements. In doing so, manual processes are automated, best practices are more easily identified and shared, and more time is freed to focus on risk analysis. Company-wide dashboards will enable real-time tracking of risk assessments, Key Risk Indicators (KRIs), and risk mitigation activities, as well as providing support for decision-making.
In addition to risk and compliance, MetricStream's federated information architecture supports audit management, financial compliance management, regulatory exams management, vendor governance, IT security.
TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries (including Transatlantic Reinsurance Company). TransRe, wholly owned by Alleghany Corporation, is a reinsurance organization headquartered in New York with operations worldwide. Since 1978, TransRe has been offering its clients the capacity, expertise and creativity necessary to structure programs across the full spectrum of property and casualty risks. Visit www.transre.com for additional information.
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, PG, 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.
Mr. Vinay Bapna