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If you work in compensation planning, you may think, how much damage can one spreads
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eet do? In 2012, JP Morgan Chase lost $6 billion–that’s billion with a B–in the “London Whale Disaster. It had a complex model called the Synthetic Credit Portfolio Value at Risk (VaR) Model that was manually updated in Excel. Someone made an error, and that error was repeated, ultimately r
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sulting in huge losses. In 2020, a UK contact tracing program left off 15,841 positive Covid cases. Why? Because no one realized Excel has a limited number of rows and additional
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ases didn’t get added on. In 2024, officials in