Spreadsheet Accuracy & EUC Risk Insights

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

Protect Personally Identifiable Information (PII) in Unstructured Documents & Spreadsheets in Support of GDPR

Posted by Rosanne Peterson on May 30, 2018 9:22:06 AM

You have millions of end-user controlled files in your organization. Do you know which documents, spreadsheets and other files contain personally-identifiable information (PII)? If not, how can you comply with the EU General Data Protection Regulation (GDPR)? How can you ensure effective security for this unstructured information?

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Topics: Manage Risk, PII, GDPR Compliance, information security

The Elated Financial Director

Posted by CIMCON Software on May 9, 2018 4:10:00 AM

Steve's team finished  the month-end close ahead of schedule without any mistakes. This humorous 15-second video shows how he celebrates! 

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Topics: Spreadsheet Errors, Videos

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

Imogen, The Happy Actuary

Posted by CIMCON Software on Apr 18, 2018 4:10:00 AM

Imogen doesn't worry about errors in her models - she has automated controls!  This humorous 15-second video explains why she is so relaxed. 

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Topics: Spreadsheet Errors, Videos

The Consequences of a $100 Million Spreadsheet Error

Posted by CIMCON Software on Mar 20, 2018 5:03:00 AM

A small error in a spreadsheet can cause a very public material error.  Easily find all your spreadsheet errors BEFORE you finalize your acquisition.

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Topics: Spreadsheet Errors, Videos

Microsoft has Ended Support for Audit & Control Manager/Prodiance. Who You Gonna Call?

Posted by CIMCON Software on Mar 8, 2018 10:22:00 AM

Given your dependence on Microsoft Audit & Control Manager's Server, are you concerned about the sustainability of your spreadsheet risk management now that official support has ended. Or, are you migrating your critical Excel files to the cloud (e.g. SharePoint Online) which is not supported in Microsoft ACM Server?  CIMCON Software can help you maintain effective governance on Excel & Access files whether they’re stored in the cloud or on-premises.

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Topics: Manage Risk, Microsoft ACM, EUC Controls, Data Governance in the cloud

Why are you Wasting Time Manually Hunting for Errors in your Excel Spreadsheets?

Posted by David Noble on Mar 1, 2018 4:37:00 AM

Just one tiny spreadsheet error can snowball into a disaster for your company and for everyone responsible. No organization wants to suffer a material financial loss due to a spreadsheet error. And yet, most firms use ineffective,  manual methods to find errors in their critical spreadsheets.  There's a highly effective and much more productive way to detect and correct spreadsheet errors!

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Topics: Spreadsheet Errors, Manage Risk

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