In conversations regarding risk, particularly technology risk, there has long been one risk ignored by all of us. Recently, bank regulators have been taking a hard look at this risk. In fact, one large bank received criticism and financial fines because of poorly managing this risk. So what do we call this risk that is common, prevalent in some companies and pretty much ignored by everyone? End User Computing Risk!<\/p>\n\n\n\n
End User Computing Risk (EUC) is often defined as a system in which users are able to create and rely on work applications created outside of risk management oversight. In other words, risk exists in all organizations that use spreadsheets or databases that are not reviewed or managed by risk management departments.<\/p>\n\n\n\n
While regulators in financial services will continue to highlight weaknesses when found this is not a risk that management needs to wait on external oversight to address. The risks are easy to understand and recognize and steps can be taken now to address those risks.<\/p>\n\n\n\n
EUC RISK<\/strong><\/p>\n\n\n\n The risks associated with EUC\u2019s include:<\/p>\n\n\n\n There is no reason for any financial services company to risk censure and fines because of EUC\u2019s. For all those companies in other market segments, this is a great opportunity to learn from financial services and address these risks before they negatively impact your business.<\/p>\n","protected":false},"excerpt":{"rendered":" In conversations regarding risk, particularly technology risk, there has long been one risk ignored by all of us. Recently, bank regulators have been taking a hard look at this risk. In fact, one large bank received criticism and financial fines […]<\/p>\n","protected":false},"author":4,"featured_media":10267,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":["post-10984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-risk-management"],"yoast_head":"\n