eGRC Solutions for Financial Services

Manage risks to your enterprise and achieve compliance with GLBA, PCI, FFIEC and SOX.

Financial services companies have some of the most mature and established security functions of any industry. Risk management and regulatory requirements have driven these companies toward robust IT practices. However, the requirements imposed by the Gramm-Leach-Bliley Act (GLBA), the Payment Card Industry (PCI) Data Security Standard, the Federal Financial Institutions Examination Council (FFIEC) and the Federal Trade Commission’s Red Flags Rule have added even more pressure. Publicly traded companies are also required to comply with the Sarbanes-Oxley Act, and financial institutions that offer health insurance benefits face the Healthcare Insurance Portability and Accountability Act (HIPAA).

Costs associated with demonstrating compliance to these requirements can be substantial, and those companies that can transition the risk and compliance effort into an operational facet of their business will be more successful. The challenge lies in meeting regulatory requirements in the context of the business and clearly articulating control infrastructures. Financial services firms need an extensible framework to manage control definition, regulatory compliance and enterprise risks with real-time measurement and reporting capabilities.

eGRC Challenges for Financial Services Firms

• Decentralized policies, controls and risks are captured in multiple tools and systems
  
• Redundant controls increase complexity and drive overspending on testing activities
  
• There’s a disconnect between those who set policies and those who must comply
  
• Limited coordination and communication exists among risk and compliance teams
  
• It’s difficult to prioritize resources for managing risks, threats and deficiencies across the enterprise
  
• Regulatory audits are time consuming, unpredictable and stressful
  
• Lack of visibility of the risk and compliance landscape can lead to poor business decisions

RSA Archer eGRC Solutions

With RSA Archer eGRC Solutions, you can manage risks, demonstrate compliance, automate business processes, and gain visibility into corporate risk and security controls. The out-of-the-box RSA Archer eGRC Content Library delivers policies, control standards, procedures and assessments mapped to global regulations and standards, including GLBA, FFIEC, FACTA Red Flags Rule and others.

Global financial services firms rely on RSA Archer eGRC Solutions to:

• Manage the lifecycle of corporate policies and their exceptions
  
• Comply with regulations in the most efficient way possible
  
• Visualize and communicate risk at all levels of the business
  
• Investigate and resolve cyber and physical incidents
  
• Centralize business continuity and disaster recovery planning
  
• Enable risk-based, business-aligned internal audit

Because our solutions are built on the RSA Archer eGRC Platform, business users have the freedom to tailor the solutions and integrate with multiple data sources through code-free configuration.

Financial Services Case Study

Learn how UMB Financial gained an aggregate view of enterprise risk. Download the case study.