DUBAL goes online with MetricStream for Enterprise Risk Management

MetricStream, the market leader in enterprise-wide Governance, Risk, and Compliance (GRC) solutions, today announced that Dubai Aluminium (DUBAL) has gone live with MetricStream Enterprise Risk Management (ERM) Solution to centralize and streamline its corporate risk management program. As a result, DUBAL has achieved standardization of risk management across divisions and business units, improved visibility into enterprise risks, and strengthened risk management.

MetricStream will host a webinar on DUBAL’s ISO 31000-based ERM Program on Wednesday, August 8, 2012 at 3pm GST (Dubai). The live webcast will feature Toby Shore, Corporate Treasurer and Chief Risk Officer at DUBAL.

Among the top 10 aluminum-producing companies in the world, DUBAL is one of the largest industrial corporations in the UAE serving over 330 customers across 48 countries. As DUBAL grew rapidly in the last few years, it evolved into a global aluminum producer of significant size and scale. The company undertook a strategic transition from a business unit centric risk management approach to an enterprise level approach in order to drive greater standardization in risk management processes, improve risk visibility, and enable meaningful correlation of different types of risks across the organization.

“We recognized the need for an integrated risk management framework to get a strong grip on our risk related data and processes, and manage them efficiently and proactively,” says Toby Shore, Corporate Treasurer and Chief Risk Officer at DUBAL. “We selected MetricStream as our risk management technology partner for this important initiative because of the comprehensive capabilities of the MetricStream solution as well as its simplicity and usability. MetricStream’s industry leading position in GRC, its ability to easily configure the solution and map it to our requirements, and its deep expertise in risk management methodologies validated our decision. We are pleased with how the MetricStream solution has enabled a more collaborative, proactive, and centralized approach to risk management which is critical for driving business performance and growth.”

The MetricStream solution will provide capabilities for qualitative and quantitative risk analysis, control assessments, a risk-control library, scenario modeling, risk monitoring, and loss and incident management. Powerful dashboards and risk heat maps will provide in-depth and real-time risk intelligence, enabling executives to set their priorities and make decisions around business strategies, budget allocations, and project planning. The solution will also enable DUBAL to adopt the best of both the COSO and the ISO 31000 risk management standards through various capabilities such as enabling a structured and systematic approach to risk management; improving risk identification, analysis, evaluation, and monitoring; and aligning risk management with decision-making.