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Rabobank deploys ClusterSeven IMS CASE STUDY
Rabobank has automated spreadsheet ClusterSeven to ensure regulatory compliance control using
such as Audit, it was identified that the spreadsheet and End User Computing (EUC) landscape on Rabobank’s trading floor was vast with minimal management controls. The need to demonstrate control over these spreadsheets is imperative in recognition of the demands of regulators today to eliminate spreadsheet-related mishaps.
F
Foremost, this required an inventory of all relevant trading floor spreadsheets. A few years ago, the FI had invested in the ClusterSeven Enterprise Spreadsheet Manager (ESM), which applies a control framework to provide visibility of changes made to spreadsheets and EUC files over a period of time. However, the solution was located in a different part of the organisation and consequently was grossly under-utilised. Exacerbating the issue was the fact that due to a lack of enforceable spreadsheet and EUC policy, securing user participation to adopt ESM was proving a challenge. This made the process of spreadsheet discovery problematic.
The solution
Rabobank deployed ClusterSeven’s Inventory Management System (IMS) and, in parallel, devised a corporate policy to support the spreadsheet and EUC control and risk management exercise. This solution provided the bank with the capabilities it needed to create an up-to-date inventory of all the EUC files and spreadsheets. Chris Casswell, Business Manager, Rabobank, elaborates: “Additionally, IMS provided the ability to focus our attention on putting the emphasis of
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ollowing internal focus from departments
using spreadsheets back on the end users and to a large extent, make them accountable and responsible for the EUC files they used.”
The integration between the IMS and ESM solutions has automated the entire process – from registering and bringing an identified spreadsheet/EUC under control across its lifecycle, through to retirement and replacement in the enterprise system. The ClusterSeven solution is deployed in the main Market hubs at Rabobank.
For the trading floor, Rabobank today has complete visibility of its landscape of spreadsheets and EUCs, which run into hundreds of files. Using IMS, the bank has created a template solution, which provides the ability to categorise the criticality of every spreadsheet into high, medium and low risk, based on end user responses to a questionnaire, in-line with the requirements set out in the internal EUC policy.
All spreadsheets and EUCs with a high and medium criticality rating are habitually monitored by ESM. The solution automatically applies baseline spreadsheet controls using templates per risk rating. User defined controls are added after spreadsheet and EUC review. Through the application of business logic and workflow, the administrators are able to evaluate the files, and automatically send alerts for sign-off. For instance, post submission of prices, if there is a deviation from those last submitted, the inconsistency mechanically gets highlighted for resolution or clarification. ESM also enables the organisation to monitor structural changes to spreadsheets down to the granular level of even
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