How to save days on your DFAST process

 

Transcript

DFAST is a process where you have to run multiple reiterations of the results because there could be a management overlay, and during one of the committee meetings one of the senior board members might say, you know what if this might happen? Running those numbers within the framework, the software that we use for our results is probably a day and a half long process. But then to take that number and compile it in PowerPoint and the presentation that we are going to give to the committee is another day and a half process. We were able to cut that day and a half of compiling the results and making a PowerPoint presentation out of it into two hours.

So with that kind of leverage we had we were like fine, we will run any number of iterations. We knew we couldn't reduce the time in the software we use but because of Wdesk we were able to save a day and get the results sooner to the ECC.

I know that there are banks doing their DFAST process in Word and Excel, but how many days and nights does it take for them to get there? Can they sleep peacefully and know that they have governance and control over their documentation? I can do that and I know the CFO can do that because of Wdesk. Where it is going to take us and where we have Wdesk today.

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