A Brief Overview of SAS Viya Applications Involved in MRM Customization

[#1]

In today’s fast-paced business environment, managing risks effectively is crucial. SAS Viya offers a dynamic platform that transforms Model Risk Management (MRM) by making it more customizable and efficient. Imagine having the power to visualize complex data, make informed decisions with ease, modify out-of-the-box workflows, and configure the user interface. With applications like SAS Visual Analytics, SAS Model Risk Management, SAS Workflow Manager, and SAS Cirrus Builder, SAS Viya empowers organizations to tailor their MRM processes to meet specific needs, ensuring compliance and enhancing decision-making. This blog will delve into how these tools can help your organization stay ahead of the game of risk management.

Let’s begin by exploring SAS Risk Cirrus and Cirrus Builder.

SAS Risk Cirrus is a cloud-native platform that makes managing risk solutions a breeze, all while requiring minimal code editing. Fully integrated with SAS Viya, it includes Cirrus Builder, a handy microservice for managing the solution life cycle and web applications. With Cirrus Builder, you can configure and customize risk solutions, integrating seamlessly with Cirrus Objects like analysis data, runs, cycles, and models. Each SAS Risk Cirrus solution comes with its own set of default configuration properties, allowing you to enable or disable objects and features, hide or display fields, and set default values. MRM users may appreciate the ability to customize pages, menus, and interactions to fit their needs in SAS Model Risk Management.

Here are some common examples of customization/configuration within SAS MRM:

• Populating value of one field based on the selection of another field (e.g. dropdown)
• Calculating a value of one field based on the selection of two fields (in questionnaires)
• Making field required based on the selection of another field’s value
• Making field visible based on the selection of another field’s value
• Making field read-only based on the workflow status

Select any image to see a larger version.
Mobile users: To view the images, select the "Full" version at the bottom of the page.

SAS Model Risk Management is a user-friendly, web-based solution that enables you to perform model governance activities. It facilitates the capture and management of model-related information and supports model governance throughout the entire model risk management life cycle, from model creation to retirement. The out-of-the-box workflow within SAS MRM can be configured to meet your organization’s needs, and this customization can be achieved using SAS Workflow Manager.

SAS Workflow Manager is a key tool for customizing and streamlining Model Risk Management processes. It allows you to design and automate workflows that fit your specific needs. With SAS Workflow Manager, you can easily create, edit, and manage workflow steps, ensuring that each part of the MRM process is tailored to your organization. The platform supports various tasks and processes, making sure everything flows smoothly. You can set up approval steps, notifications, and data checks to enhance the efficiency and accuracy of your risk management activities. By using SAS Workflow Manager, you can ensure your MRM processes are not only compliant with regulations but also optimized for better performance and adaptability.

SAS Visual Analytics is another fantastic tool used in the configuration and customization of SAS MRM because it makes data visualization and reporting much easier. Integrated into SAS Model Risk Management, it allows senior management to view detailed dashboard reports of all models in the inventory through the Board Report. With its interactive features, SAS Visual Analytics helps users explore data, uncover insights, and make informed decisions. This tool simplifies complex data, making it easy to understand and share insights across the organization, ensuring everyone is aligned on risk management strategies.

Lastly, there’s SAS Environment Manager (SAS EV). SAS EV is the place where administrators or super users can administer, monitor, and manage SAS resources. It allows for monitoring log events and reporting alerts, creating custom groups and assigning users to those groups, scheduling and monitoring jobs to update the SAS MRM Board Report, viewing stored data, and collecting and charting data on metrics for monitored SAS resources. This comprehensive tool ensures that your SAS environment runs smoothly and efficiently.

In conclusion, SAS Viya provides a range of versatile tools that enhance the customization and efficiency of Model Risk Management. With applications such as SAS Visual Analytics, SAS Model Risk Management, SAS Workflow Manager, and SAS Cirrus Builder, organizations can adapt their risk management processes to better suit their unique needs. These tools simplify data visualization, streamline workflows, and ensure regulatory compliance, making risk management more effective. By utilizing SAS Viya, your organization can stay proactive in managing risks, making well-informed decisions, and achieving business success.

For more information on these products, please refer to their documentation and product landing pages.

Find more articles from SAS Global Enablement and Learning here.