Are your Risk Registers too risky?

Approximately twenty years ago, during a pitch meeting to sell a very early enterprise risk software application, a senior banker told me they used spreadsheets for most of their risk management processes. He concluded this meeting with the statement “the city runs on spreadsheets, and that won’t change soon”.

As I look around me today, my iPhone has replaced my much-loved Palm Pilot and Nokia 3310. Connecting to the internet is seamless and no longer accomplished by the once-familiar sound of a dial-up modem. And rather than starting my day running across the city, going from meeting to meeting, I am productively Zooming and Teaming from home, overlooking the green and sunny Hampshire countryside.

But as I get off another TEAMS meeting, with another capital markets firm discussing their approach to enterprise risk management, including their widespread use of spreadsheets, I realise one thing.

Despite all the technology change around me, one thing has not changed; spreadsheets are still the most widely used risk management technology today.

KRM22’s Global Risk Platform provides applications to help you address your firm’s regulatory, market, technology and operations risk challenges and to manage your entire enterprise risk profile. KRM22 is a public Group listed on AIM and headquartered in London, with offices in several of the world’s major financial centers.

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