Hudson City Savings Bank’S Approach to Issue Management

How HCSB Achieved Value in Issue Reporting & Management

Executive Summary 

Banks are struggling with disconnected approaches to issue reporting and management.  This is a particular concern with the growing regulatory requirements around the management and reporting of issues in the context of customer complaint management. To address this challenge, banks need to have a coordinated strategy and information architecture to provide consistent issue reporting and management. Hudson City Savings Bank (HCSB) is a bank that deployed MetricStream to manage the issue and complaint management program as part of a broader GRC strategy and architecture. GRC 20/20 has evaluated and verified the implementation of MetricStream at HCSB and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. In this context, GRC 20/20 has recognized MetricStream and HCSB with a 2014 GRC Value Award in the domain of Issue Reporting & Management. HCSB’s overall federated GRC approach and unified GRC framework and architecture provides a holistic view of issues, complaints, and associated risks that maps to subject matter experts who see things through to resolution. 

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