Bajaj Finance Joins Hands with MetricStream to Digitize its Governance, Risk & Compliance Framework

By SiliconIndia   |   Tuesday, October 18, 2016
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BENGALURU: The financial arm of Bajaj Group, Bajaj Finance Limited, partners with MetricStream to boost its ongoing GRC framework. The adoption of MetricStream’s solution has led Bajaj Finance to MS Cloud hosted solution, enhancing Loss Event Data Upload (LSM) functionality, creating uniformity across the Audit & ORM Apps, and extending training to over 150 personnel.

With the partnership, the entity goes live with MetricStream’s internal audit management and operational risk management Apps which will be helping Bajaj Finance to track and manage risks in a scheduled manner. Further, the apps will also provide centralized governance through the organization’s ORM team, including loss data capturing across the entity. The audit team of Bajaj Finance will also be facilitated through MetricStream’s solutions in managing audit planning, execution and issue tracking as a third line of defense.

Commenting on the partnership, Rakesh Bhatt, COO, Bajaj Finance Limited, asserts, “As one of India’s fastest growing and most diversified NBFCs, we have been straddling multiple business lines. This makes it imperative for us to leverage GRC solutions that will further strengthen our business objective of combining sustainable profitability with controllership. We are hopeful that MetricStream’s Internal Audit Management and ORM Apps will improve usability of prepackaged customer reports as well as increase our overall ability to measure and manage risks”.

Established in 1999 by Ramana Mulpury, Arvindh Balakrishnan & Gunjan Sinha, MetricStream is headquartered in California. Simplifying the Governance, Risk, and Compliance (GRC) for modern and digital enterprises, MetricStream‘s solutions are used by leading global corporations. The entity along with its network of partners provides hosting, implementation, post-sales support, and validation services for its solutions to ensure that customers realize the maximum value from their investments.

Shankar Bhaskaran, General Manager of International Operations, MetricStream proclaims, “As organizations become more complex, they are exposed to a variety of threats and vulnerabilities that can have a direct impact on growth and business performance. Our Internal Audit Management and ORM Apps assist Bajaj Finserv streamline internal audit and ORM processes in order to create synergy across its enterprise governance, risk and compliance functions”.

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