To comply with Stress Testing and Model Risk requirements the bank needed to show to regulators that it had validated its spreadsheet models. The bank used EXChecker Advanced Validation to systematically validate the models and document the validation work in detail. This enabled them to complete their task in a timely way with confidence in the results.
$60 bn US insurance company
The organization needed to monitor critical spreadsheets for SOX and other regulatory purposes. The requirements included a real-time audit trail of spreadsheets changes and a sophisticated workflow process to support financial and regulatory reporting. Spreadsheet Workbench was implemented in the USA and Asia within a few weeks, easing submission concerns by providing accurate and supportable data.
Large financial institution
The project leaders of this large financial institution had struggled to reduce spreadsheet risk and experienced a number of serious spreadsheet errors. We worked with them to devise a low impact registration and tracking environment. This included configuring a process that was tailored to their organization and had very little impact on the users. The result was a smooth rollout of ‘light-touch’ control. The organization is now moving forward with spreadsheet process automation in the financial control function.