Regulatory measures such as the New Basel Accord (Basel II) have made operational risk a top concern for financial institutions, which are now looking for ways to measure and manage their risk exposure. To meet the growing need for risk management controls, SAS, the leader in business intelligence, today announced SAS OpRisk Monitor, a Web-based application that collects, manages, tracks and reports information about operational loss events, key risk indicators, and risk and control assessments.
Following the acquisition of OpRisk Analytics in 2003, SAS further underscored its commitment to the risk management market by developing SAS OpRisk Management, a comprehensive solution that helps organizations mitigate operational risk across the enterprise. As part of the SAS OpRisk Management portfolio, SAS OpRisk Monitor is designed to automate the processes for managing all internal operational risk information through a user-friendly process within a single system. The software facilitates the entry, collection, transfer, storage, analysis, tracking and reporting of operational loss events, key risk performance indicators, risk assessment results and control assessment scores drawn from multiple locations across an organization.
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