Chartis forecasts the worldwide operational risk management (ORM) market to grow to US$1.68 billion by 2013. The Chartis report looks at both the demand and supply sides of the market and covers the main market and regulatory requirements as well as the competitive landscape. The evaluation examined a vendorâs core functionality, data management capability, vendor characteristics, implementation process, user friendliness, complexity, customisability/flexibility and costs.
âThe capabilities of SAS OpRisk Management and enterprise risk management (ERM) software and services from SAS continue to earn our highest ranking,â said Peyman Mestchian, Head of Advisory Board at Chartis. âSAS continues to demonstrate its innovation and commitment to solving its customersâ evolving needs in risk management.â
According to Chartis, a successful ORM vendor such as SAS must offer a flexible technology structure, on-going innovation, scalable sales and marketing strategy, domain expertise and the ability to offer a âone-stop shopâ for operational risk, credit risk and market risk solutions as part of an integrated proposition. SAS was noted as particularly strong when it comes to technology structure since SAS âviews ORM as an integral part of the overall ERM and compliance architecture.â Chartis also highlighted SAS to have âshown a good flow of ongoing innovation over the past 24 monthsâ and a âstrong direct sales team.â Lastly, SAS was noted as one of the leaders in positioning itself as a one-stop shop for risk management software especially with the addition of financial crime solutions such as SAS Anti-Money Laundering and fraud detection. This has been very attractive for âemerging regions of the Middle East, Asia Pacific, Africa, South America and Eastern Europeâ whose âCRO or a central decision making unit is looking for a total ERM solution.â
SAS OpRisk Management is a comprehensive solution built on the SAS Business Analytics Framework, a powerful blend of data integration, analytics and reporting capabilities. SAS Operational Risk Management helps institutions optimise capital allocation while mitigating risks in all areas of their organisations.
SAS also ranked first in the âcore risk technologyâ category for a third straight year and first in the âoperational risk and governance, risk and compliance (GRC)â category in Chartis Researchâs RiskTech 100 report in October 2008.