Spreadsheet Accuracy & EUC Risk Insights

Craig Hattabaugh

Recent Posts

Model Inventory: There is a Better Way

Posted by Craig Hattabaugh on Oct 23, 2018 1:35:17 PM

Creating and maintaining a Model Inventory is simple in concept but much harder in practice. Identifying the existing models to include can be challenging, especially given the fact that the line of business aren’t usually enthusiastic about documenting their model usage. Some model owners would prefer that you just go away, thank you very much. But it’s the “maintain” task that is really difficult. Keeping a model inventory accurate and up to date takes a lot of work. From chasing down various owners and users for updates to reporting on KRIs, it is a thankless job that never ends. Model Inventories are very resource intensive but there is an easier way that is better, faster and cheaper.

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Topics: model risk, Model Inventory, SS3/18

What I learned from Walmart’s CIO about EUC Risk Management

Posted by Craig Hattabaugh on Aug 24, 2018 11:49:09 AM

Earlier this year, Peter High wrote on Forbes.com about an interview he had with Clay Johnson who currently is the CIO of Walmart.  Although the topics of discussion weren’t specific to end-user computing risk management, I found Clay’s lessons learned from his early experience at FedEx to be very applicable to my work focused on Model risk and EUC risk management.

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Topics: Manage Risk, risk management policy, model risk, EUC risk management

New Woes for the UK Model Risk Manager

Posted by Craig Hattabaugh on Jul 13, 2018 3:29:53 PM

The Prudential Regulatory Authority’s Supervisory Statement SS3/18 concerning model risk management principles is the latest in a long line of financial industry guidance that started with OCC 2011-12, The Federal Reserve’s SR 11-7 and others. Although it is highly focused on the models used for determining capital adequacy (stress testing) in UK banks, and the principles are sound, it is not good news for model risk managers. 

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Topics: Manage Risk, PRA SS3/18, Prudential Regulation Authority SS3/18, Model Inventory, SS3/18

Should the CEO care about Spreadsheet Risk? Yes! Three Current Headlines Reveal Why.

Posted by Craig Hattabaugh on Apr 24, 2018 4:10:00 AM

Why would a senior executive with strategic responsibilities even remotely think about something so seemingly tactical as spreadsheet risk?  Read on: This article discusses a series of recent cases that illustrate how a spreadsheet error can quickly evolve into a material - and public - business crisis.

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Topics: Spreadsheet Errors, Manage Risk

Ignore the CFO: 3 Reasons to Keep Your Spreadsheets!

Posted by Craig Hattabaugh on Jan 9, 2018 10:14:00 AM

Two recent articles in The Wall Street Journal reignited the debate between spreadsheet defenders and foes. Excel is perennially derided by software marketers selling replacement solutions, yet its usage continues to proliferate. So we need to ask, why are spreadsheets used so often within critical business processes? More often than not, the smart business decision is to keep those spreadsheets in place. 

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Topics: Spreadsheet Errors, Manage Risk

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