Saudi EXIM Bank to adopt SAS Model Risk Management solutions

By Arya M Nair, Official Reporter
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Saudi EXIM Bank-SAS
Officials from Saudi EXIM Bank & SAS at the agreement signing ceremony

Saudi Export-Import Bank (Saudi EXIM Bank) has selected US-based SAS technology, the leader in analytics, to increase the governance and efficiency of their risk operations and reporting with model risk management solutions.

The Saudi EXIM Bank provides financing services, guarantees, and credit insurance with competitive advantages, to enhance confidence in Saudi products. It is one of the supervised development funds and banks by the Saudi National Development Fund (NDF).

Through SAS Model Risk Management, partners can establish a centralized model inventory that supports a company’s internal policies and procedures across all business units. The robust infrastructure of the solution includes permissions, version control and data mining capabilities.

Customers can easily track model issues, concerns, challenges, and remediation with SAS Model Risk Management owing to a robust model review and validation process that meets regulatory standards and expectations. The review and validation process is systematically documented in a single source of model documentation. This documentation may be examined at different levels, including model lineage, version, business line, model owner, and more.

Saad bin Abdulaziz Al Khalb
Saad bin Abdulaziz Al Khalb
Saudi EXIM Bank

“We are thrilled to announce our decision to use SAS technology. SAS Risk Management was the next logical step given its proven methodologies and best practices to help us establish a risk-aware culture, optimize capital and liquidity, and meet regulatory demands. Through this project, Saudi EXIM Bank aims to deliver on the ambitious vision of the Kingdom of Saudi Arabia to diversify its economic base by promoting and enabling non-oil exports in line with the objectives of Saudi Vision 2030.”

“A unified platform can give a complete picture of financial and non-financial risks and swift decisioning as businesses’ requirements evolve. Models get more complicated, and regulatory expectations expand, the built-for-purpose content, role-specific user interface, and best-in-class, use-case-specific features of SAS Model Risk Management enable banks and financial institutions to maximize their investment for a variety of business objectives. This gives them the ability to integrate risk management into the organization’s daily operations and business plan,” said Mr. Alaa Youssef, Managing Director of EMEA Emerging at SAS.

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