BlackRock® is one of the world’s pre-eminent asset management firms and a premier provider of investment management, risk management and advisory services to institutional, intermediary and individual investors around the world.
BlackRock is a fast paced firm with new products and processes being created all the time. Excel plays an important role in innovation and is often used to prototype these products and processes. Whilst being innovative, it is important that controls are in place to prevent Blackrock being exposed to monetary, reputational and technology risk. The challenges presented were:
- Reduce and control spreadsheet risk
- Add control without making it onerous for users
- Meet regulatory requirements around the use of spreadsheets in business critical processes