|[June 19, 2014]
Chartis: SAS is a Leader in Operational Risk Management
CARY, N.C. --(Business Wire)--
SAS (News - Alert) remains a category leader in the Chartis Operational
Risk Management Systems for Financial Services 2014 RiskTech Quadrant®.
analytics powerhouse was recognized for "completeness of offering"
and "market-share potential."
"Our research suggests that operational risk is now recognized as the
most important risk by financial institutions. Also the scope of
coverage for operational risk management processes and systems is
increasing," said Peyman Mestchian, Managing Partner at Chartis. "The
SAS capabilities go beyond the traditional oprisk space covering such
requirements as model risk, financial crimes, enterprise governance and
compliance as part of a unified technology environment and was a key
factor in our RiskTech Quadrant analysis."
Operational risk requirements, cost and complexity pressures are pushing
the trend to consolidate into enterprise operational risk platforms,
says Chartis. Needing stronger links between operational risk, GRC,
financial crime and enterprise risk management and other risk-related
activities, buyers increasingly look to advanced analytics. The report
highlighted the big data analytics in SAS® Visual Analytics,
which addresses the need for varied analytical methodologies.
Chartis praised SAS
OpRisk Management for covering "a range of enterprise risk
management needs including credit risk, market risk, asset liability
management, operational risk/GRC, liquidity risk and financial crime."
SAS saw risk technology sales grow by 23 percent last year. Chartis also
complimented the SAS extensible data model, which "covers the OpRisk and
GRC domains and provides ready-to-use data elements (e.g., risks,
controls) and ready-to-use field definitions for each data element
(e.g., risk title, risk owner), which can be extended without
Chartis identified new quantification method demands from the market,
exacerbated by the "extreme sensitivity of the loss distribution fitting
process, together with the relative paucity of data." SAS builds in risk
capital calculation, including regulatory and economic models for
operational risk, and can implement advanced modeling of operational
risk exposures and capital requirements to support advanced measurement.
The solution also integrates internal and external operational risk data.
"Rising costs due to regulatory fines and trading scandals has made
operational risk a boardroom issue. Self-assessment of both qualitative
and quantitative risk is more important than ever," said Brooke Upton,
Global Product Marketing Manager for Risk Management Solutions at SAS.
"SAS OpRisk Global Data helps banks evaluate publicly reported losses
and benchmark against firms of similar asset size and structure."
SAS was recently named a category leader in the Chartis
RiskTech100® 2014 report.
Read the Chartis Operational
Risk Management Systems for Financial Services 2014 report.
Chartis is recognized internationally as the leading research and
advisory firm focused exclusively on the risk technology market. For
more information visit chartis-research.com.
RiskTech Quadrant® and RiskTech100® are registered
trademarks of Chartis Research Limited.
Chartis Research is authorized and regulated by the Financial Conduct
Authority (FCA) for providing investment advice.
SAS is the leader in business
analytics software and services, and the largest independent vendor
in the business intelligence market. Through innovative solutions, SAS
helps customers at more than 70,000 sites improve performance and
deliver value by making better decisions faster. Since 1976 SAS has been
giving customers around the world THE POWER TO KNOW®. SAS
and all other SAS Institute Inc. product or service names are registered
trademarks or trademarks of SAS Institute Inc. in the USA and other
countries. ® indicates USA registration. Other brand and product names
are trademarks of their respective companies. Copyright © 2014 SAS
Institute Inc. All rights reserved.
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