Chartis: SAS a category leader in model risk management

The analytics giant is acclaimed for its overall strength and "consistently effective product development" in model risk management

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Jul 14, 2021, 10:46 ET

CARY, N.C., July 14, 2021 /PRNewswire/ -- Citing the analytics and AI leader's "ability to continually adapt its offering to market changes and new technologies," Chartis Research has named SAS as a RiskTech Quadrant^® Category Leader in model risk management (MRM). Among 26 solutions evaluated by the analyst firm, SAS scored "high" in all evaluation criteria, including these completeness of offering categories:

Model coverage.
Governance.
Data management.
Model inventory management.
Dashboarding.
Visualization.

Chartis Research has named SAS a RiskTech Quadrant® Category Leader in model risk management.

This MRM rating complements SAS' position as a Chartis RiskTech Quadrant^® Category Leader in enterprise fraud solutions, reflecting its broad and enduring legacy as a financial services technology innovator.

"The COVID-19 pandemic exposed and amplified financial institutions' risk modeling issues in an unprecedented way, and its destabilizing effect revealed the importance of effective MRM across business lines," said Sidhartha Dash, Research Director at Chartis. "SAS' category leader rating reflects how its adaptive enterprise platform delivers end-to-end capabilities – from data management and governance keystones to the latest in machine learning and AI – to help firms meet their regulatory and compliance obligations while mitigating and minimizing all categories of risk."

SAS has been a Category Leader in this assessment since Chartis established the MRM category in 2014. The Vendor Analysis for MRM Solutions is based on Chartis' quadrant report, GRC Solutions, 2021: Market Update and Vendor Landscape, published in May. According to the analysis:

"SAS, recognizing firms' need to review key model metrics, has developed its MRM solution to offer comprehensive model-risk lifecycle governance capabilities. It helps organizations use a data-driven approach to assess their model risks, identify gaps, review and update their policies and procedures, and reassess their risks. This iterative approach can continually improve model quality and efficiency, helping to protect the organization."

"Automated, well-governed model management – combined with the ability to efficiently develop and operationalize models – is foundational to optimized, data-driven risk decisioning," said Troy Haines, Senior Vice President and Head of Risk Research and Quantitative Solutions at SAS. "SAS^® Model Risk Management on cloud-ready SAS Risk Stratum melds the most advanced, industry-forged analytics with a configurable, intuitive interface to help simplify the complexities of MRM. The result is clear, enterprise-level oversight throughout the entire model life cycle."

To explore how sound model risk management helps enterprises translate data into valuable insights and more accurate forecasts, download Compete and win with better model risk management, a complimentary MRM white paper by SAS.

About Chartis Research

Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis' goal is to support enterprises as they drive business performance through improved 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.

About SAS

SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you 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 © 2021 SAS Institute Inc. All rights reserved.

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SOURCE SAS