Banks bridge data islands with SAS® Risk Data Aggregation and Reporting
Examining data across risk, finance and C-suite means clearer view of risk exposure for banks and regulators
Increasing financial regulations in major markets – including US, Canada, China, Germany and UK – demand that banks accurately consolidate, aggregate and report risk across their entire organization. And core to effective risk management is a strong and trusted data infrastructure. This is no easy prospect: Even if a bank looks like a single entity from the outside, anyone who has worked in one knows better.
A large bank is like a chain of islands with differing business priorities and technology needs, blanketed by a fog of mismatched data infrastructures and siloed processes. These differences, combined with massive and ever-increasing volumes of data, make it difficult to manage critical information optimally. Many banks still rely on manual workarounds – such as Excel spreadsheets scattered across the organization – to deliver aggregated data. More fog. The resulting inability to clearly view all the data leads to a lack of cohesive reporting.
SAS® Risk Data Aggregation and Reporting helps clear the fog by building the needed bridges between these data islands. The result is a single, comprehensive look at your data. With powerful analytics and visualization aligned to robust data management capabilities in one solution, SAS provides a solid foundation spanning all key facets of risk data aggregation and reporting.
“This is not just about complying with new regulatory requirements. Better, faster risk data aggregation and reporting processes are essential to competing successfully and avoiding unnecessary reputational hits,” said Tom Kimner, Head of Global Operations for Risk Management at SAS. “Banks want to ensure their data is complete, accurate and trustworthy. This is not a luxury for financial institutions; this is a necessity.”
SAS Risk Data Aggregation and Reporting addresses the big challenges for a risk management infrastructure, allowing banks to:
- Flexibly integrate different data platforms with an adaptable architecture that doesn’t require replacing existing technology investments.
- Overcome siloed processes and infrastructures to create a group-wide view of data – including definitions and quality metrics.
- Improve timeliness of detailed analysis and reporting with high-performance analytics, providing faster management insight.
- Build a solid risk data-management foundation to address key regulations and principles, such as BCBS 239.
"Effective data management is essential to any stress testing program and for addressing regulatory requirements,” says David O’Connell, Senior Analyst with Aite Group. “Now, regulatory principles like BCBS 239 have placed new risk management demands on banks’ IT infrastructure. Given SAS’ strong capabilities in stress testing, it should be on the short list for banks seeking to ensure the quality and consistency of their data for compliant reporting."
For more information about creating a solid data foundation for risk management, visit the SAS Risk Data Aggregation and Reporting website.
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