Spreadsheet Workbench BCBS 239 Solution

Handling spreadsheets and end user computing is central to the success of any BCBS239 project.  Whether you are implementing controls or automating spreadsheet based processes you need to act now to make sure you comply with all the requirements in time.

BCBS 239 states that where banks rely on end user computing or manual processes they should have mitigants in place such as end-user computing policies and procedures (Principle 3 paragraph 36b).  It also requires an appropriate balance between automated and manual systems (Paragraph 38).

In the Basel committee’s most recent progress report Principle 3 (accuracy/ integrity) was highlighted as having one of lowest reported compliance, with half of banks reporting material non-compliance. Clearly meeting the BCBS 239 requirements presents challenges.  And attempting to migrate from manual systems to automated ones in a short timeframe is one of the hardest parts of the challenge.

How We Can Help

End User Computing Control

While manual risk aggregation processes can be brought under control, manual controls are difficult and time consuming.  Spreadsheet Workbench is Finsbury’s market-leading spreadsheet management solution for BCBS 239 requirements.  By automating control you can demonstrate to regulators that your manual processes meet the highest standards and that they can have confidence in the results.

Spreadsheet Workbench can quickly and easily integrate with your existing system and reduce the level of change required of your processes – all whilst complying with BCBS 239.

Key benefits and features of this powerful tool include:

  • Complies with BCBS 239 data aggregation principle 3 requirement for accuracy and integrity
  • Automated audit trail of spreadsheet changes significantly reduces time, cost and manpower
  • Powerful spreadsheet analytics give you the ability to drill down and identify cell level problems
  • Validation of spreadsheet logic allows you to flag important data errors before problems get any bigger
  • Fast and automated approval workflows so you don’t need to involve IT
  • Rapid implementation means you can control your business critical spreadsheets in as little as 4 weeks

Manual Process Automation

Spreadsheet based processes do not have to be manual or error prone, Spreadsheet Workbench can create repeatable reliable and accurate data by automating existing spreadsheet based processes. By keeping your spreadsheets, you preserve your investment and retain the flexibility of a spreadsheet based solution. By automating you substantially reduce the time required to generate spreadsheet based data. The automation and built in controls of Spreadsheet Workbench ensure that the process is fast, reliable and controlled.

To see how Finsbury Solutions can meet the needs of your BCBS 239 project – contact us here