MidCountry Financial Corp. to Implement MetricStream’s Integrated GRC Platform

Proquest LLC

MidCountry Financial Corp. has selected MetricStream to enhance its risk management and strengthen regulatory compliance and audit management across the enterprise.

According to a media release, MetricStream's integrated GRC solution will help MidCountry Financial streamline the full range of their risk management processes, establish a risk register and common risk taxonomy, and enhance risk visibility. Through the real- time integration of external regulatory feeds, MidCountry Financial will be able to stay one step ahead of their risks, and one step ahead of the regulations.

"As our business continues to grow, it became imperative that we create a centralized and scalable risk management program that streamlines all of our risk and compliance processes. A single, real- time view of risk data is critical to supporting sound and strategic decision-making," said Sandra Laughlin, Chief Risk Officer at MidCountry Financial. She continued, "We selected MetricStream because of their domain expertise, as well as the robust yet highly flexible functionalities of the solution, which will be deployed quickly and seamlessly over the MetricStream Cloud."

MetricStream noted that its solution will provide a centralized risk framework to manage, assess, and track all enterprise risks as well as their associated controls and issues. A risk register will maintain and map all risk and control information such as risk description, control ownership, risk impact, source, and likelihood, thus helping establish a common risk language across the enterprise. The solution will also help monitor and aggregate Key Risk Indicators (KRIs).

"We are pleased to have been selected by MidCountry Financial to enhance their risk management program," said Gaurav Kapoor, COO at MetricStream. He continued, "Mid-sized financial services institutions are under significant regulatory pressure to build stronger and more sophisticated risk management methods. Leading mid- sized financial institutions and community banks around the world are choosing MetricStream for our unique blend of world-class technology and content, which is based on industry best practices and standards such as COSO, COBIT, and ISO. MetricStream's Integrated GRC Platform is witnessing strong traction in the market, as validated not only by our customers, but also by leading analysts and financial services regulators."

MidCountry Financial Corp. is a diversified financial services provider.