A centralized, web-based environment for reviewing and executing models; specifying scenarios; consolidating results into balance sheets, financial statements and capital plans; and generating internal and external reports.
Orchestrate all aspects of financial stress testing and credit loss reserving processes, and consolidate results from various systems.
Coordinate processes for stress testing, the new standard for insurance contracts, and credit loss reserving – start to finish.
A visual user interface and workflow component serve as a central hub for coordinating all technologies and processes related to risk and finance projects, including model selection, scenario specification and template design. An embedded process management capability enables you to define workflows, timelines and approval paths, as well as attach documents and track approvals and comments for each step of the process. There's no need to maintain a separate workflow engine for financial stress testing, IFRS 17 or IFRS 9/CECL, eliminating compatibility issues.
Quickly integrate risk and finance data.
Easy creation of templates for banking balance sheets, income statements and capital plans take the complexity out of integrating risk and finance data. Financial hierarchies are fully integrated into the system, so it's easy to map and aggregate values among different financial hierarchies. Centralized management of reporting and mapping hierarchies streamlines the process of translating financial stress test results into meaningful forecasts and capital plans.
Ensure transparency, auditability and repeatability.
The SAS Risk and Finance Workbench links to other components of the SAS system through a common risk data repository and your institution's model inventory. This ensures financial stress test, IFRS 17, IFRS 9/CECL and supervisory reporting process transparency, auditability and repeatability throughout the financial stress test process across all types of risk – market, credit and liquidity.
Specify custom financial stress test scenarios.
A web-based scenario manager enables you to specify, run, edit and store scenarios in a central location. You can interactively specify custom, ad hoc scenarios, as well as import and enrich scenarios provided by regulators. Having a central location for scenario specification and storage facilitates collaboration between finance, treasury and risk, and adds transparency to the scenario generation process.
Prepare data for reporting, and stay in compliance.
With filing packages, you can use taxonomies and templates to collect data, run quality checks and prepare information for supervisory reporting. Financial institutions can easily submit reports as part of the FINREP and COREP frameworks required by the European Banking Authority.
Explore More on SAS® Risk and Finance Workbench and Beyond
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- Article IFRS 9 and CECL: The challenges of loss accounting standardsThe loss accounting standards, CECL and IFRS 9, change how credit losses are recognized and reported by financial institutions. Although there are key differences in the standards for CECL (US) and IFRS 9 (international), both require a more forward-looking approach to credit loss estimation.
- Article CECL: Are US banks ready?CECL, current expected credit loss, is an accounting standard that requires US banking institutions to estimate life-of-loan losses at origination or purchase.
- Article IFRS 17: Waiting is not an optionIFRS 17 is a principles-based accounting standard for the future-oriented valuation of insurance contracts. Designed to increase financial transparency, IFRS 17 requires insurers to report in more detail on how insurance and reinsurance contracts affect their finances and risk.
- Analyst Report Chartis RiskTech Quadrant: Technology Solutions for Credit Risk 2.0 (Banking Book)This research paper is based on material originally published in the Chartis Research report Technology Solutions for Credit Risk 2.0: Vendor Landscape, 2019.
Tackle the Complexity of IFRS 9 and CECL Standards
The US standard for CECL increases the complexity of the allowance estimation process. Outside the US, IFRS 9 is having the same effect. This paper presents a high-level view of best practices for getting this right, including recommendations for organizational structure, data management, model development and management, systems and processes, governance and controls, reports and documentation.
Firmwide Scenario Analysis and Stress Testing
This paper explores the two most commonly used firmwide scenario model approaches for stress testing, firmwide risk capital measures and how regulatory stress testing is different from the firmwide risk capital approach mandated by CCAR and EBA.
Adapting to the New Age of Risk Analytics
Rapid advancements in technology are leading to a new age of risk analytics. The availability of commercial and open source software – coupled with significantly improved integration using industry standard tools – has made analytics more user friendly, expanding its reach to a broader range of business professionals.
The evolving relationship between finance and risk
Increased regulatory requirements require chief financial officers to be proficient in regulations and advanced big data analytics. As a result, CFOs and CROs must cooperate like never before.
Risk-Aware Finance and the Changing Nature of Credit
New research by Chartis and SAS highlights how financial institutions must align finance and risk departments to accurately assess future risks and bolster budgeting and forecasting capabilities. This paper explores how risk-aware finance is becoming essential to meeting future regulatory and competitive demands.
CECL: Don't Neglect the Fundamentals
Firms that proactively implement a CECL process that is controlled, efficient, collaborative and sustainable will find themselves with a competitive advantage over time. This paper discusses the long-term benefits of this holistic approach.
The Changing Landscape for Credit Risk Management
Developing and executing credit risk models as they become increasingly integrated with firmwide risk, balance sheet targets and limits will require more sophisticated models, enhanced data management and high-performance computing. Read this paper to learn more.
Check out some of our other risk management products and solutions.
- SAS® Expected Credit LossMeet the challenges of IFRS 17, IFRS 9, CECL and beyond with a centralized, flexible, high-performance analytics environment.
- SAS® Model Implementation Platform Quickly and efficiently execute a wide range of models used in bank stress tests and other enterprise-level risk assessments.