SAS Secures Top Spot in Model Risk Management for the 11th Year Running

SAS Secures Top Spot in Model Risk Management



SAS, the global leader in data and analytics, has recently been reaffirmed as a leader in Model Risk Management (MRM) Solutions by Chartis Research, marking the 11th consecutive year that the company has received this prestigious title. Within the latest report for 2024, SAS excelled in two main quadrants—model governance solutions and model validation solutions—reflecting the firm’s unwavering dedication to offering best-in-class solutions in the field.

Chartis Research Recognition


Chartis Research, renowned for its comprehensive analyses in risk technology, highlighted SAS’s remarkable performance. The report evaluated 19 vendors in the model governance solutions quadrant, and SAS stood out as the only entity to achieve best-in-class ratings across five critical criteria:
  • - Model coverage
  • - Governance
  • - Data management
  • - Model inventory
  • - Dashboarding

This achievement underscores SAS’s commitment to advancing model governance solutions amid the shifting landscape influenced by AI and machine learning technologies.

Insights from Chartis Research


Sid Dash, Chief Researcher at Chartis, commented on the evolving nature of model governance in light of the growing importance of AI models. He affirmed, "As these shifts occur, SAS continues to hold a market-leading position, as evidenced by its top ratings in our Model Risk Management quadrants."

Furthermore, SAS earned accolades in the model validation segment for its robust supporting tools and strong methodological frameworks that align with the growing demands of the financial services sector. Chartis noted SAS's capacity to integrate traditional governance practices while addressing the complexities introduced by new technologies.

A Clear Advantage in a Crowded Market


SAS’s reputation as a credible provider in both risk and accounting functions within banking institutions is attributed to its deep-rooted expertise in model governance and validation. The firm capitalizes on a well-structured suite of analytical tools, which aids clients in navigating complex regulatory environments, and maintains a competitive edge by providing end-to-end solutions in risk management.

The report indicated SAS’s ability to support the complete lifecycle of models, from creation to ongoing validation. This versatility enhances SAS’s market potential, especially as institutions seek to fortify their model validation capabilities.

Sustained Momentum in Risk Management


The recognition from Chartis contributes to SAS's growing legacy in the field of risk management. Following its acquisition of Kamakura in 2022, SAS has continued to build on its strengths, securing a notable second place in the Chartis RiskTech100 for two consecutive years. Additionally, in the ALM Solutions, 2024 report, SAS was named a category leader across all six quadrants evaluated.

Regulatory Environment and Future Prospects


Stu Bradley, Senior Vice President of Risk, Fraud, and Compliance Solutions at SAS, remarked on the significance of this recognition, particularly in a time of heightened regulatory scrutiny. He stated, "This latest recognition shows that SAS is driving thought leadership in risk management, and its technology is only getting stronger. Our aim is to provide businesses with the technology and insights needed to manage risks more effectively, ensuring compliance and stability in their operations."

Conclusion


In summary, SAS’s commitment to model risk management and governance exemplifies its leadership in an increasingly complex and fast-evolving regulatory environment. As financial institutions continue to adapt to new challenges and technologies, SAS remains a vital resource for those looking to enhance their risk management strategies.

By continually innovating and providing tailored solutions, SAS is positioned to stay ahead in the realm of risk management, ensuring that organizations can trust their decision-making processes, backed by data-driven insights.

Topics Financial Services & Investing)

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