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Saudi EXIM Bank chooses SAS technology for risk management improvement

Saudi EXIM Bank chooses SAS technology for risk management improvement

Banking & FinanceEnergyKSASaudi ArabiaSoftwareTop Stories

SAS, a leader in analytics, has announced that Saudi Export-Import Bank (Saudi EXIM Bank) has chosen to use SAS technology to increase the governance and efficiency of its risk operations and reporting with model risk management solutions. 

The Saudi EXIM Bank was established in 2020 to promote the export of Saudi non-oil products and boost its competency across economic sectors in the global markets. The bank provides financing services, guarantees and credit insurance with competitive advantages to enhance confidence in Saudi products.

It is one of the supervised development funds and banks by the Saudi National Development Fund (NDF). HE Saad Alkhalb, Saudi EXIM Bank said: “We are thrilled to announce our decision to use SAS technology. SAS risk management was the next logical step given its proven methodologies and best practices to help us establish a risk-aware culture, optimise capital and liquidity and meet regulatory demands.

“Through this project, Saudi EXIM Bank aims to deliver on the ambitious vision of the Kingdom of Saudi Arabia to diversify its economic base by promoting and enabling non-oil exports in line with the objectives of Saudi Vision 2030”.

Alaa Youssef, Managing Director, EMEA Emerging at SAS, said: “A unified platform can give a complete picture of financial and non-financial risks and swift decision-making as businesses’ requirements evolve. 

“As models get more complicated and regulatory expectations expand, the built-for-purpose content, role-specific user interface, and best-in-class, use-case-specific features of SAS model risk management enable banks and financial institutions to maximise their investment for a variety of business objectives. This gives them the ability to integrate risk management into the organisation’s daily operations and business plan.”

Through SAS model risk management, partners can establish a centralised model inventory that supports a company’s internal policies and procedures across all business units. The robust infrastructure of the solution includes permissions, version control and data mining capabilities. 

Customers can effectively track model issues, concerns, challenges and remediation with a rigorous model review and validation process that satisfies regulatory principles and expectations. The single source of model documentation consistently records the review and validation process, which can be examined at various levels, including model lineage, version, business line, model owner and more. Customers can analyse thousands of data points – using both quantitative and qualitative data – to gain greater insight into their organisation’s model risk concentrations.

Interactive visualisations tell the model risk story clearly and accurately to broaden institutional awareness and facilitate appropriate board-level oversight. Users can easily drill down through reports to learn more. This enables fast tuning for model reviews and validation practices, to stay on top of ever-changing risk policies and regulatory requirements. Governance tools help enforce appropriate signoffs, legal reviews and testing on a consolidated platform.

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