Saudi EXIM Bank chooses to use SAS technology for Model Risk Management

SAS announced that Saudi Export-Import Bank (Saudi EXIM Bank) has chosen model risk management solutions from SAS to improve the governance and efficiency of their risk operations and reporting.

The Saudi EXIM Bank was established in 2020 to promote the export of Saudi non-oil products and strengthen their competitiveness in global markets across economic sectors. To boost confidence in Saudi products, the bank offers competitive financing services, guarantees, and credit insurance. It is one of the Saudi National Development Fund’s supervised development funds and banks (NDF).

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. 

Partners can use SAS Model Risk Management to create a centralized model inventory that supports a company’s internal policies and procedures across all business units. The solution’s robust infrastructure includes permissions, version control, and data mining capabilities. Customers can effectively track model issues, concerns, challenges, and remediation with SAS Model Risk Management, which includes a rigorous model review and validation process that meets regulatory principles and expectations. The review and validation process is consistently recorded in a single source of model documentation, which can be examined at various levels, including model lineage, version, business line, model owner, and more.

Analyze thousands of data points – both quantitative and qualitative – to gain a better understanding of your organization’s model risk concentrations. Interactive visualizations clearly and accurately tell your model risk story, increasing institutional awareness and facilitating appropriate board-level oversight. Users can also easily drill down into reports to learn more. Allowing for rapid tuning of model review and validation practices in order to keep up with ever-changing risk policies and regulatory requirements. On a consolidated platform, governance tools help enforce appropriate signoffs, legal reviews, and testing.