SAS a leader in enterprise stress testing systems per Chartis Risktech Quadrant
Chartis has named SAS a category leader in its 2015 RiskTech Quadrant for enterprise stress testing systems. To capture this top ranking, SAS not only showcased the necessary depth of domain knowledge and technology, it also proved capable of capturing significant market share, both by volume and value.
Stress testing has been a part of risk management for years. But the systems, processes and controls firms were using leading up to the financial crisis clearly fell short, leaving them unprepared and, in many cases, undercapitalised. New regulatory requirements and standards now have financial institutions treating their stress-testing capabilities as essential processes rather than one-off compliance exercises. "Integrated enterprise-wide stress testing is now a necessity," said Peyman Mestchian, Managing Partner at Chartis. "Technology solutions that can deliver on data quality needs and easily merge with existing systems are helping to break down silos. SAS delivers on most of those needs with coordinated, systematic support ranging from data management to modeling to reporting, allowing for greater agility."
According to Chartis, financial institutions must overcome three key challenges when implementing stress testing: methodology, infrastructure (data and IT), and governance. SAS' integrated stress-testing solution consolidates revenue and loss models onto a single platform, enabling orchestration and transparency across the entire stress-testing process. The results support independent reviews and validation of global regulators' capital planning exercises (e.g., CCAR, EBA), while also improving business decision making.
"The banking industry and regulators have tightened up the approach to risk, aiming to shift the financial system to one that absorbs rather than amplifies shocks. But meeting the new tests is proving stressful for the banks themselves," said Simon Goldsmith, Head of Risk Solutions, SAS UK & Ireland. "With more data points, scenarios and considerations, the 2015 stress tests will undoubtedly be more robust than before. Chartis recognises that banks look to SAS to meet their obligations and help them develop more sophisticated model management factories, scenario testing engines and governance models."
Earlier this year, SAS clinched the No.1 spot in Chartis' prestigious 2015 RiskTech100 report annual rankings, including category wins for core technology, innovation, banking and insurance within the vertical sector and for financial crime.
Read the SAS highlights from the Chartis Enterprise Stress Testing Systems 2015 RiskTech Quadrant report and learn more about SAS stress testing solutions.
Chartis is the leading provider of research and analysis on the global market for risk technology. Its goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. Chartis helps clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. RiskTech Quadrant® and RiskTech100® are registered trademarks of Chartis Research Limited.
For more information visit www.chartis-research.com
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