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Article
Risk and Control Self-Assessment - This Time it is Personal
From humble beginnings at JP Morgan to revolutionizing risk management, the RCSA journey has shaped how businesses measure and mitigate risk. Learn how a shift from basic templates to exposure-based approaches transformed the effectiveness of internal controls across industries.
Jan 27, 2025
Craig Spielmann, Risk Intelligence Leader, CNM LLP
Tags:
Stress Testing
Operational and Non Financial Risk
Resilience
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
The RCSA process at JP Morgan began as a response to the Sumitomo copper trading scandal, focusing on improving internal controls across all processes.
The initial simple template evolved into Horizon, a system that revolutionized risk measurement with advanced algorithms and graphical presentations.
A shift from traditional red, yellow, and green boxes to exposure-based risk measurement provided management with clearer insights into potential risks.
Over time, RCSA’s approach adapted across industries, helping organizations, including banks and government entities, evaluate risk, controls, and business strategy alignment.
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