Saudi EXIM Bank chooses SAS technology for model risk management
By Leandra Monteiro
SAS, a leader in analytics, announced that Saudi Export-Import Bank (Saudi EXIM Bank) chooses to use SAS technology to increase the governance and efficiency of their risk operations and reporting with model risk management solutions.
Commenting on that, His Excellency Saad Alkhalb at 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, optimize 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”.
“A unified platform can give a complete picture of financial and non-financial risks and swift decisioning as businesses’ requirements evolve. 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 maximize their investment for a variety of business objectives. This gives them the ability to integrate risk management into the organization’s daily operations and business plan” said Alaa Youssef, Managing Director of EMEA Emerging at SAS.
Through SAS Model Risk Management, partners are able to establish a centralized model inventory that supports a company’s internal policies and procedures across all business units. The infrastructure of the solution includes permissions, version control and data mining capabilities.
With SAS Model Risk Management, 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 Saudi EXIM Bank was established in 2020 to promote the export of Saudi non-oil products and boost their 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).
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