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Nationwide Mutual Insurance relies on SAS® to help manage riskOperational risk management program will effectively streamline enterprise view10 December 2007 - Nationwide Mutual Insurance Company ("Nationwide") has selected SAS, the leader in business intelligence, to help strengthen its Enterprise Risk Management (ERM) program. Through superior operational risk management, Nationwide seeks to safeguard its customer policyholders’ interests by ensuring its financial well-being while protecting sensitive policyholder information. "One of the goals of Enterprise Risk Management is to enable a portfolio or enterprise level view of a company’s risk profile. For large organisations, operational risks can be a particularly challenging part of that profile to effectively identify, assess, measure, and manage. Many operational risks can exist across an enterprise, often making them the shared responsibility of dispersed risk managers. Nationwide plans to use SAS® OpRisk Management across risk management programs to further enhance and integrate our ’enterprise’ risk management capabilities," said Mike Mahaffey, Nationwide’s Vice President of Enterprise Risk Management. "SAS OpRisk Management provides an efficient, effective, and standardised way to collect, measure, and report data from multiple risk management programs such as internal audit, compliance, legal, and information risk management, among others." A SAS customer for 27 years, Nationwide was familiar with SAS’ comprehensive, integrated enterprise intelligence platform and its experience in providing risk management software for financial services companies. With SAS, the insurer can integrate risk and control self-assessment processes across its various business units and functional areas. Nationwide intends to leverage this integration to better share information, coordinate risk management coverage, and increase alignment between and amongst these partner programs. "Although SAS OpRisk Management focuses primarily on operational risk, we believe it can effectively support other risk types as well. This flexibility coupled with leading data management capabilities and superior analytics provides us with a powerful ERM tool," said Allan Dudek, Nationwide’s Senior Consultant of Enterprise Risk Management. "Ensuring that risk information is commonly understood and effectively shared via our Common Risk Information Architecture (as implemented in SAS) helps Nationwide to make more informed enterprise-level risk decisions, and ultimately drives better value creation. Long-term value creation is the primary goal of Nationwide’s investment in ERM, and our partnership with SAS is an important part of realising that goal." SAS® OPRISK MANAGEMENT SAS OpRisk Management is an end-to-end solution built on the industry-leading SAS Enterprise Intelligence Platform. With powerful data management, analytics, and regulatory reporting and disclosure capabilities, SAS OpRisk Management helps institutions optimise capital allocation while mitigating risks in all areas of their organisations. In May, Chartis Research ranked SAS software as the leader in operational risk management for a third straight year. Also, SAS OpRisk Management was named as a first-place recipient in the June OpRisk & Compliance magazine’s First Annual Compliance Software Ranking. Nationwide selected SAS to run on the SolarisTM 10 Operating System from Sun Microsystems Inc. ABOUT NATIONWIDE Nationwide, based in Columbus, Ohio, is one of the largest diversified insurance and financial services organisations in the world, with more than $160 billion in assets. Nationwide ranks #104 on the Fortune 500 list. The company provides a full range of insurance and financial services, including auto, motorcycle, boat, homeowners, life, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services. For more information, visit www.nationwide.com
SAS is the leader in business intelligence software and services. Customers at 43,000 sites use SAS software to improve performance through insight into vast amounts of data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products. Only SAS offers leading data integration, intelligence storage, advanced analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world
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