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The elephant in the room: End-user computing risk is undervalued and undetected

Sponsored webinar: ClusterSeven

THE PANEL

  • Henry Umney, vice president of sales, ClusterSeven
  • Smita Baliga, director, PwC
  • Sam Lee, head of operational risk, EMEA, Sumitomo Banking Corporation
  • Peyman Mestchian, managing partner, Chartis Research
  • Moderator: Joel Clark, consulting editor, Risk.net

The pivotal role that end-user developed applications play within the financial industry is clear to all. From spreadsheets and databases to programming applications and email applications, 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 $50 billion exposure for the financial industry as a whole, the importance of end-user computing (EUC) risk still lacks the attention that it rightly deserves.

It is not, however, that operational risk heads are simply avoiding the subject. Rather, most firms are unaware of the sheer scale of the problem and are blindly falling into the trap of not paying attention until it’s too late – that is, when losses occur.

This webinar, in partnership with Cluster Seven and Chartis Research, addresses this paradox and provides 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 cannot manage what you don’t measure – the business case for investing in appropriate EUC risk management processes 
  • How firms can stay ahead of the game. Finding a solution before it’s too late 
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