Dear Global Risk Community Member,
The genius of Microsoft Excel for entity management is that it’s easy to use and there are free templates that exist online to get you started.
And yet, research shows that 23% of spreadsheets contain errors, companies spend an average of 18 hours trying to correct these errors and 72% of users regularly email spreadsheets with highly sensitive information, without considering the risk of breaching data regulations.
Download “Microsoft Excel & Entity Man
By looking at a case study in Monte Carlo and Loss Data, we are able to see how important it is to model loss experience and to categorise operational risk loss events.
Recently I had a discussion on modelling risk with a fantastic and successful business person who said to me : "I have read about Monte Carlo, you even make mention to it on your blog but it doesn't make great sense to me. The maths in Monte Carlo is even worse because it seems to confuse the concept by taking it into an academic
Many organisations are now using spreadsheets to monitor and manage their risks but research suggests that this could be inefficient and impractical for risk managers.
Software, such as StratexPoint, allows risks, that an organisation face, to be clarified, aligned and effectively managed. StratexSystems believe that every business should be able to execute their business strategy whilst operating within an acceptable level of risk exposure. With a series of easy-to-deploy visual tools, like thos
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