Bank of India Using SAS to Fast Track Advanced Operational Risk Management
Expeditious-growing banks want to spend capital on introducing incipient products and accommodations, not hiring more staff to manage operational risk with spreadsheets.
With the avail of SAS Governance and Compliance Manager modules, Bank of India has broken free of spreadsheets and is efficiently ameliorating the bank’s loss data quality and operational risk reporting processes.
“Our risk management department is now able to accumulate loss data directly from our 4,892 branches. This lays the substructure for a standardized approach and prepares us to move to an advanced quantification approach (AMA) ineluctably,” explicates Shyamal Karmakar, Assistant General Manager of the Risk Management Department.
All of Bank of India’s branches have access to SAS Governance and Compliance Manager, with around 5,000 users who report loss data, participate in risk control self-assessment (RCSA) exercises on an as-needed substratum, and provide key risk designator (KRI) data. With the avail of SAS Governance and Compliance Manager modules, the branches can report the loss data directly to the peril management department through a network of peril officers at the regional level. This has ameliorated the loss data quality and reporting process.
Taking steps toward an advanced operational Risk Management Approach
Prior to implementing the operational risk framework utilizing SAS Governance and Compliance Manager, the bank was reporting operational risk capital under the basic indicator approach with reports engendered at quarter-end. Following the implementation, the bank can engender about 50 types of operational risk monitoring reports. The bank has been able to implement the entire operational risk framework, from the accumulation of input data to statistical capabilities for value in jeopardy (VaR) computation, utilizing a variety of distribution techniques.
The RCSA exercises are much more facile to run now, and the results are online through dashboards and graphical representation. In additament, KRI monitoring is automated, and the SAS Governance and Compliance Manager workflow enable the bank to capture all the utilizer activity within the system and provides a transparent mechanism to the internal and external auditors for analyzing the efficacy of its operational risk identification process and framework. This will avail when the bank moves to the AMA approach.
“SAS provides a robust and consummate solution for risk management,” Karmakar verbally expresses. “We now have excellent operational risk management capabilities for both regulatory and internal requisites.”
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