GARP: Stress Testing: A View from the Trenches

Since the global financial crisis of 2008, stress tests have taken on growing importance and prominence in financial institution supervision and regulation.

It sheds light on the state of stress testing as perceived by those who are “in the trenches.” From these results, a picture emerges of the level of maturity and effectiveness of the processes and procedures that these organizations have put in place to implement stress tests.

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Five Reasons for Moving Off Excel for Consolidation and Close

Even a small amount of growth can make a once simple financial close process aggravating. Major changes can cause hair-tearing frustration, and change is the new norm. The flexibility of Excel becomes fragile and brittle after years of formula tweaking by different people. Time is spent providing increasingly more reports for each group in the organization – showing information sets in their own special way. The Financial Close and Consolidation process slows to a crawl as data accuracy is called into question or the auditors look for more detail.

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