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Financial Services – Spreadsheet EUC Governance and Controls

Apparity is the only spreadsheet governance and controls platform that can scale to the needs of the global banking and financial services sector.

Financial Services

Arguably, the financial services industry uses spreadsheets more than any other global industry. It is also a very heavily regulated sector. Regulatory mandates such as Basel III, Solvency II, Dodd-Frank Stress Tests (DFAST) and Comprehensive Capital Analysis and Review (CCAR) are the rules of the game. As a result, these regulations make financial institutions evaluate how they manage their unstructured data and require them to use rigorous control frameworks. Best practice suggests having an enterprise-level spreadsheet policy with controls that include access/security, back-ups/recovery, and retention/archiving. Spreadsheets that are considered critical to the organization must also comply with controls that address development, documentation, and change control.

EUC Financial Services

Apparity Impact

When it comes to scaling to the needs of global banks and financial institutions, Appairty is the only Excel Governance & Controls platform that can get the job done. From adherence to unique nation state data protection laws, we cater to your organization’s specific needs. Our product suite includes an array of modules that follow the life cycle of spreadsheets and other EUC (End User Computing) applications. From discovering files to risk assessment, inventory management, change management controls, and analytics and reporting, only Apparity can help you build a culture of compliance, while empowering end users.

SR 15 – 19, Managing CCAR Related Spreadsheet Models

In 2015, the Federal Reserve issued the SR 15-19: Federal Reserve Supervisory Assessment of Capital Planning and Positions for Large and Noncomplex Firms. In this regulatory letter, they outlined that banks must have a risk management structure. It should also be supported by thorough policies and procedures, paired with independent internal controls and clearly established responsibilities. This mandate applies to all models used in the Capital Planning Process, particularly those associated with spreadsheets and other EUCs. Apparity is specifically designed to help banks manage their spreadsheet and EUC risk infrastructure.

As a bank goes through planning cycles, Apparity validates the correct functioning of the spreadsheet models and monitors them for changes. At the same time, Apparity provides an extensive access and version control framework that ensures a complete inventory of all files and user activity. Before the planning process begins, the Apparity Integrity Check can be used to assess spreadsheets by identifying any errors or potential issues in the models. Once the updates to the planning models are underway, the Apparity Change Management workflow can be set up to initiate review and approval cycles. The Apparity reporting and analytics then provides management with an accurate view into each stage of the approval cycle, including which models have been modified but are not yet reviewed or approved.