The challenges of policy, model and EUC risk during COVID-19
Moderated by Mitratech’s Henry Umney, SVP Commercial, this panel drilled down into the EUC-related risks caused by the COVID-19 pandemic and the pivot to newly remote workforces. One question they mulled? “How well have we fared?”
Igor Prizant, Managing Director at Ernst & Young, Deepa Ghosh, Head of EUCT Governance Technology and Reporting at Wells Fargo, and Jon Hill, Professor of Model Risk Management at New York University, explored the topic in fascinating depth, starting with the proliferation of Shadow IT in the form of EUC spreadsheets and models.
Companies are being faced with the need to uncover and manage their Shadow IT estate at the same moment workforces have become remote. Regulators, meanwhile, continue to ratchet up pressures around EUCs and EUC modeling. |
|
“We’re going to see an even greater proliferation of EUC models,” Jon Hill said, as companies try to cope with a dynamic economic situation. That, he explained, increases the need to inventory and monitor those models and maintain compliance. Which in turn demands the use of better technologies for discovery, risk assessment, and reporting.