spreadsheets (5)

Time to revisit rushed Dodd Frank compliance?

Implementation deadlines have been and gone but banks are still living in Dodd-Frank’s shadow. One of the issues is that best practice hasn’t yet been agreed: the regulators still need to clarify standards. This is leaving many fumbling around in the dark for the right route to compliance.

While the regulators iron out the standards, several financial institutions have cobbled together ‘half-way house’ applications so they can tick the compliance box. Some have even resorted to Excel for a quick

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No one-size-fits-all approach for recs

We recently worked with Aite Group on a benchmark survey exploring the reconciliation challenges facing financial services firms. The benchmark threw up a number of interesting findings around issues such as an over-reliance on manual processes, delays in onboarding and issues in handling non-standard and inter-system recs. In this first of a series of blogs on the benchmark findings, I will examine how a ‘one-size-fits-all’ approach no longer fits the bill.

Many banks are trying to use yesterday

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Risk Management and Spreadsheets

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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5 Reasons Why You Need ERM Software

How do you manage the uncertainty of what has not happened yet?

ERM Heat MapThat’s where enterprise risk management software (ERM Software) also known as operational risk management software comes in. It tracks the emerging risks and changes to existing risks across the enterprise and connects these changes to the activities and business metrics that run the business. A change in risk at the business process level, demands a change in the operating procedures to prevent this risk from materializing or seize

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While spreadsheets are still an excellent tool for data manipulation and one-dimensional analysis, they fall significantly short of delivering the capabilities a risk manager really needs to analyze trends and see the relationships the job entails.

The limitations of spreadsheets verses ERM software are systemic and largely stem from the way they manage data, their inability to easily show relationships, and their general inaccessibility.

Impractical

Risk management is an iterative process that req

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