CARY, N.C., March 23, 2017 /PRNewswire/ -- Chartis has recognized SAS® software's "completeness of offering" and "market-share potential" in naming the analytics powerhouse a category leader in Model Risk Governance Solutions 2017 RiskTech Quadrant®.
Regulatory scrutiny – not to mention new accounting standards such as IFRS 9 and CECL – have put model governance at the forefront. Companies must identify, monitor, control and document all risk categories. Chartis emphasizes that firms need an adaptive model risk governance system to react swiftly to change.
"Financial institutions are under increasing pressure from regulators to ensure that they have an effective enterprise-level model risk governance framework in place," said Peyman Mestchian, Managing Partner at Chartis. "SAS has a comprehensive solution that offers a detailed and centralized view of most risk and financial models, so that the related findings can be precisely monitored and managed throughout the model life cycle."
SAS Model Risk Management provides governance of the full model development life cycle and risk management life cycle, from risk identification to risk assessment. The offering includes a centralized model inventory, model review and validation, and flexible workflows and dashboards to keep customers on pace with evolving policies and regulations.
Per Chartis, SAS demonstrates superiority in all three requirements for "completeness of offering": identify and measure model risk, document model risk governance frameworks (including validation deadlines and responsibilities), and integrate model risk controls with governance frameworks. SAS also excelled in "market potential" for numerous reasons, including scalability of business model, growth strategy and brand.
"Management must have confidence in models that support business-critical, risk-based decisions," said Sridhar Sourirajan, Director of Risk Research and Quantitative Solutions at SAS. "SAS' model risk management solution enables stakeholders to conduct fact-based conversations and demonstrate model quality effectively to regulators."
SAS was recently named a category leader in the Chartis RiskTech Quadrant for Credit Risk Management Systems for the Banking Book and the Chartis RiskTech Quadrant for Enterprise Fraud Technology report.
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media, which has market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant®, RiskTech100® and FinTech Quadrant™ are registered trademarks of Chartis Research (http://www.chartis-research.com).
SAS is the leader in analytics. Through innovative analytics, business intelligence and data management software and services, SAS helps customers at more than 83,000 sites make 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 © 2017 SAS Institute Inc. All rights reserved.
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SOURCE SAS Institute