As a financial institution expands, its responsibilities grow parallel with the increasing complexity and volume of financial data it must handle. The reliance on spreadsheets and manual processes becomes more efficient and fraught with operational risks, particularly those associated with key personnel. These outdated methods must be revised to manage the growing array of tasks, especially when the institution crosses thresholds that trigger new regulatory reporting and system requirements.
Additionally, this growth places a significant burden on the institution’s workforce. Individuals or teams may have handled multiple roles in smaller financial institutions, such as treasury and asset liability management (ALM). However, as the workload of these roles reaches critical levels, a crucial decision emerges: the need to invest in the best asset liability management solution that can automate routine tasks, mitigate operational risks, and enable effective oversight and management of various risks, including market risk, interest rate risk, and liquidity risk.