Chartis declares SAS Leader in Enterprise Stress Testing Systems
CARY, NC: Chartis, provider of research and analytics on the global market for risk technology has declared SAS as a category leader in its 2015 RiskTech Quadrant for enterprise stress testing systems. SAS has showcased remarkable depth of domain specific knowledge and understanding of related technology with significant market share in securing the top position.
New regulatory requirements and standards have now made it compulsory to consider stress testing an essential part and not just compliance requirement. According to Chartis, financial institutions must pass three challenges during implementation of stress testing: methodology, infrastructure (data and IT), and governance. SAS’ integrated stress-testing solution consolidates revenue and loss models onto a single platform, ensuring transparency across the entire stress-testing process. The test results support independent reviews and validation of global regulators’ capital planning exercises (e.g. CCAR, EBA), while also improving business decision making.
"Financial institutions need support in all areas of stress testing," says Tom Kimner, Head of Global Operations for Risk Management at SAS. "They want a solution that breaks down silos. And they want to use their existing resources. Chartis recognizes that banks look to SAS to gain an integrated view of risk across the enterprise. This enables key decision makers to spot and analyze the warning signals for each risk; assess the likelihood, magnitude and potential impact; and take timely, corrective action."