Why Spreadsheets Won’t Save Your Risk Strategy

Article

Risk Control Self-Assessment (RCSA) is evolving as firms embrace AI, automation, and real-time risk monitoring. Traditional methods, like Excel, are no longer sufficient. Advanced tools such as AI-driven risk models, robotic automation, and APIs for cybersecurity integration are revolutionizing risk management, making RCSA more efficient, data-driven, and proactive.

Feb 28, 2025

Naresh Singhani, Director of Internal Audit Data Analytics, First Citizen Bank

Tags: Operational and Non Financial Risk Resilience

Why Spreadsheets Won’t Save Your Risk Strategy

The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization

AI and automation can modernize RCSA, replacing outdated tools and making risk assessments more efficient and engaging.
Integrating AI-powered risk models with cybersecurity and regulatory systems enhances real-time risk visualization and compliance monitoring.
Robotic Process Automation and real-time data triggers reduce stakeholder fatigue and enable proactive risk mitigation.
Tools like RiskGPT allow professionals to instantly analyze risk data, identify weak controls, and generate reports for better decision-making.