Undervalued and undetected: End-User Computing Risk- The Elephant In The Room
The pivotal role that end-user developed applications play within the financial industry is blatant to all. From spreadsheets and databases to programming applications and email applications, it goes without saying that a large proportion of financial services’ business-critical processes- at face value- facilitate the smooth running of day-to-day business.
Developed outside the confines of internal IT however, beneath the surface a distinct proportion of such applications in use contain significant mistakes - and human error is largely to blame. With an estimated $50bn exposure for the financial industry as a whole, the importance of EUC risk still lacks the attention that it rightly deserves.
It’s not however, that operational risk heads are simply avoiding the subject. Rather, most firms are unaware of the sheer scale that the problem presents and are blindly falling into the classic trap of not paying attention until it’s too late i.e when losses occur.
This webinar, in partnership with Cluster Seven and Chartis Research, will address this paradox and give insight into the following issues:
- A risk without an owner - understanding end user computing risk and the threat that it poses to your firm
- You can’t manage what you don’t measure- the business case for investing in appropriate EUC risk management processes
- How can firms stay ahead of the game? Finding a solution before it’s too late