IBS Journal March 2017
33
reviewing and signing off changes in very specific, critical cells in high-risk files.
“Our inventory and EUC universe isn’t huge compared to other organisations, but because these trading spreadsheets are used in critical processes, it is important to have complete control,” adds Casswell.
The ClusterSeven solution has encouraged Rabobank to change its support model with the creation of a central administrative function to ensure continuous EUC control. It has also created a designated folder structure on the network drive from where all spreadsheets and EUCs can be monitored; all traders are required to relocate their spreadsheets into this Distributed File System. “IMS is an extremely powerful tool that has enabled us to gather information in a standardised way and attribute ownership of each spreadsheet and EUC to designated individuals,” says Casswell. “Ownership of EUCs is instrumental to achieving a controlled environment.”
Rabobank is now looking at the second phase of its EUC control and risk management programme, whereby it will aim to make comparisons of ‘like for like’ spreadsheets to assess the difference in approaches to risk assessment across regional offices. The ClusterSeven solutions will also be rolled out in other global locations and areas of the bank.
The IMS solution has provided Rabobank flexibility and enabled a thorough and even unique approach to risk management – saving time and effort, in addition to providing a full historical record and an audit trail. With
regulatory requirements increasing, particularly in the front office, demonstrating compliance effectively of the various laws and policies can be extremely manually intensive.
Rabobank has used IMS to create multiple registers that cover periodic regulatory, compliance and policy attestations. Traders are required to complete any relevant questionnaire and perform an attestation that is recorded using a time/date stamp and their individual login. This has eliminated ambiguity surrounding the compliance processes that have been followed by the traders. The process is totally automated with emails triggered when an attestation is due.
These registers cover a wide scope of policies ranging from regulatory to internal policy as well as identification of other control issues such as operational incidents. This ability has greatly reduced the administrative time wasted on the previous manual processes.
Alex Subba Row, Sales Manager at ClusterSeven, comments: “Rabobank is among a handful of organisations that has truly leveraged the functionality and flexibility of IMS to not only create a spreadsheet and EUC management approach that uniquely meets its business requirements, but also to leverage it for other attestation processes. We look forward to the next phase of the bank’s spreadsheet and EUC management programme and seeing what other processes IMS can support for Rabobank.”
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