New York based Transatlantic Holdings, Inc, (TransRe), a global reinsurer, has selected MetricStream’s risk and compliance platform citing its flexible, automated reporting capabilities. For TransRe, the main components of the solution are the ability to track regulatory changes, identifying and scoping risks, conducting risk control self-assessments, risk monitoring and risk reporting.
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Risk control self-assessment allows a centralized location for financial institutions to document and evaluate centralized risk frameworks on a corporate, business unit, and process levels. The documents are organized and the assessments are based on configurable methodologies and algorithms, according to the MetricStream website.
“Enterprise Risk Management is an evolving discipline, and one that touches every part of our organization,” says Julian Spence, chief risk officer for TransRe, in a statement. “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 also offers TransRe support for the full range of risk and compliance processes, enables multiple reporting facilities, and links to existing enterprise applications.