KFH Malaysia automates risk management with SAS®
Kuwait Finance House (Malaysia) Berhad’s Risk Management Division chose SAS OpRisk Management to gain a single, centralized way to identify, monitor and analyze operational risk. Using alerts and a reporting dashboard, the bank now can assess risk more quickly and take mitigating actions.
The first foreign bank granted a license under Malaysia's Islamic Banking Act of 1983, KFH Malaysia was established on the heels of Bank Negara Malaysia's decision to open the country's Islamic banking industry to qualified foreign players. As the regional headquarters of KFH in the Asia-Pacific region, KFH Malaysia's main role is to provide innovative Shariah-based financial solutions to its customers.
Risk management more than compliance
Before implementing SAS, the bank managed operational risk data manually via Excel spreadsheets, Word documents and hard copies. The manual environment made it difficult and tedious to analyze operational risk and trends at a granular level. Moreover, it was time-consuming and required more manpower to analyze the data and prepare operational risk reports timely.
Ken Yon, Acting Chief Risk Officer, says the key features of SAS OpRisk Management that make a difference at KFH include:
The paperless environment and fast access to insightful decision support have resulted in cost savings for the bank. Automated activity summaries and status reports save time, allowing the Operational Risk Management team to focus on higher priorities.
Support throughout implementation
SAS also provided consultation and advice to help KFH make informed decisions. Both SAS and KFH Malaysia worked efficiently to ensure the project was completed on time.
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Manual data analyses and lack of centralized risk data.
SAS® OpRisk Management
Greater efficiency, faster response times and consolidated view of all operational risks and compliance information allow for more accurate and improved risk-management performance.
Operating System: Windows Server 2003 R2 Enterprise Edition SP2 – 32 Bit, Database: PostgreSQL 8.3, Application Server: Oracle BEA WebLogic 9.2
“The system is easy to use and its implementation has reduced paperwork significantly.”
Acting Chief Risk Officer