Palo Alto, California (PressExposure) October 09, 2009 -- MetricStream, Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, announced that its Chief Executive Officer, Ms. Shellye Archambeau, joined prominent compliance and risk executives and experts from the energy and utilities industry at the FERC Compliance Summit, which was held from September 23rd to 25th, last week in Washington, D.C. at the AED Conference Center.
Ms. Archambeau moderated the panel discussion on "Best Practices for Creating a Compliance System that Satisfies FERC Requirements. On the panel, Ms. Archambeau was joined by Andrew Katz, Senior Counsel, Northeast Utilities, Kurt Krieger, Assistant General Counsel, Nisource Corporate Services Company and David Perlman, Senior Vice President, Bracewell & Giuliani.
The discussion addressed how to develop a proactive process for compliance and get buy-in across the organization. The group also discussed how best to integrate internal review and reporting mechanisms into compliance management systems, maintain appropriate documentation, and develop guidelines that should be followed in assessing a trading organization's compliance management system.
Some of the key issues that were answered during this discussion were:
1. General Approach to FERC Compliance: Does every company have to approach FERC compliance the same way? a. Best practices from trading and marketing perspective b. Centralized approach - how it works, benefits & challenges c. Decentralized approach - how it works, benefits & challenges
2. Is there more regulatory emphasis on transparency & accountability? 3. How is this affecting the approach of an organization to compliance, if at all? 4. What changes do are expected in near and distant future? 5. Is risk management an increasing area of focus? If so, what's the implication? 6. How do organizations garner cross organizational support for the compliance initiatives?