“Financial Services technology is currently in the midst of a profound transformation, as CIOs and their teams prepare to embrace the next major phase of digital transformation.”-McKinsey, 2020
This is a primary driver for SAS to release its next generation risk solution ecosystem including SAS Model Risk Management on SAS Viya. This modular, API-first design will facilitate injection of model governance and oversight in a seamless and automated fashion. Closer integration between MRM, model ops, model execution and model performance monitoring will allow for opportunities in process automation.
SAS Model Risk Management (MRM) is an enterprise class model governance solution which allows companies to manage the information and risks associated with their entire model development lifecycle.
SAS Model Manager (MM) is a tool that helps streamline model deployment and management to operationalize AI everywhere.
Combining MM and MRM provides a more wholistic vision of a unified enterprise platform needed to capture the entire model lifecycle for the financial services industry. Essentially, the combination of these offerings is like 1 + 1 = 3.
This video shows the native integration of an MRM Model Risk Card directly within MM's Model View.
The MM and MRM teams are working closely to develop native integration features
to notify others in the model risk discipline of potential issues. With the SAS Viya September 2021.1.5 stable release, MM provides an easily toggle switch to govern model risk within the MRM solution. This correlation pushes details of model risk to all relevant stakeholders and thereby turns the data captured by MRM into actionable information by relevant parties.
The following video walks through how to set a model linkage between MM and MRM.
For more information about using SAS Model Manager integration with SAS Model Risk Management, refer to the SAS Model Manager: User’s Guide documentation.
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