Pune, October 6, 2016: Bajaj Finance Limited, the diversified retail lending arm of Bajaj Finserv, today announced that it has partnered with MetricStream, the industry leader in Governance, Risk and Compliance (GRC) and Quality Management apps and solutions, to strengthen its ongoing GRC framework.
The non-banking financial company has gone live with MetricStream’s Internal Audit Management and ORM Appsthis month. These digital solutions will not only enable Bajaj Finance Limited to measure and manage risk in a scheduled manner, but also provide centralized governance through the organization’s ORM team including loss data capturing across the organization. MetricStream’s solution will also support the Audit team to manage audit planning, execution and issue tracking as a third line of defense.
Speaking about the partnership, Rakesh Bhatt, Chief Operations Officer, Bajaj Finance Limited, said, “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.”
With the adoption of MetricStream’s solutions, Bajaj Finance Limited has been moved to an MS Cloud hosted solution, enhancing Loss Event Data Upload (LSM) functionality, creating uniformity across the Audit and ORM Apps and extending training to over 150 personnel.
“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,” said Shankar Bhaskaran, General Manager of International Operations at MetricStream. He continued, “Our Internal Audit Management and ORM Appsassist 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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2014 The Global Indian New Network (TGINN)