Latest version of SAS® Risk Dimensions® further extends enterprise risk management
CARY, N.C. (April 27, 2004) – The challenging economy, increased competition, and new regulations such as Basel II and Sarbanes-Oxley are driving increased demand by businesses for risk management controls. To meet this growing need, SAS, the leader in business intelligence, today announced the latest and most powerful version of SAS® Risk Dimensions®, its enterprise risk management solution. Features such as extended portfolio optimization, enhanced cash flow analysis, expanded credit risk and asset-liability modeling capabilities and increased scalability equip customers to measure and manage their risk exposure with greater precision.
ConocoPhillips (NYSE: COP), the third largest integrated energy company and the largest refiner in the in the United States, has selected SAS for its risk management needs. "We chose SAS Risk Dimensions for its product flexibility which will help us meet our unique risk management demands," said Dennis Cornwall, global risk manager at ConocoPhillips. "SAS Risk Dimensions will improve the systems that support our commercial business and support our position as a leader in the global energy industry."
Incorporating SAS’ world-renowned analytics with industry-leading data access and data warehousing capabilities, SAS Risk Dimensions enables organizations to exploit data from numerous, disparate operations. SAS Risk Dimensions provides a decision-support environment that measures and manages both credit and market risk in the manner most appropriate for an organization’s unique needs.
SAS Risk Dimensions offers the flexibility to view information at any level of aggregation or detail required. In addition, the advanced reporting capabilities, including the ability to explore results from within a Web browser, allow risk managers, senior management and others to access and communicate risk measures across the entire enterprise, fueling better decision making. SAS Risk Dimensions makes it possible for management to retain a strategic vision without losing access to granular details.
"Customers like ConocoPhillips are looking for every advantage to plan for and control risk in order to stay ahead of the competition and address government regulations," said Austin Trippensee, global product manager for SAS Risk Management. "Risk Dimensions can provide the capabilities for our customers to create the intelligence to confidently measure and manage risk."
Highlighted enhancements in latest version of SAS® Risk Dimensions
This version of SAS Risk Dimensions is supported by the new SAS®9 business intelligence platform and enhanced analytics which will help organizations gather, store, analyze and distribute information more quickly than ever before.
SAS Risk Dimensions uses robust analytics that enable organizations to perform portfolio optimization with greater ease. Organizations can build an optimal portfolio by considering the relationship between risk and return. The optimal portfolio can be based on either the greatest expected return for a given level of risk or the lowest risk for a given expected return. Results can be graphed to provide users with a visual representation of the company’s risk-reward profile.
Enhancements allow cash flows to be broken down into user-defined time buckets. This improves the support for asset liability management, including techniques like cash flow projection and gap analysis. Organizations can perform risk-weighted asset calculations and determine time-weighted returns. Portfolios can be evaluated taking both collateral and complex netting set agreements into consideration. Netting involves the aggregation of incoming and outgoing amounts into a net amount. Netting can be performed at any level of the organization. Multi-level netting allows for the evaluation of the netting effect on combined levels.
The increased scalability of the newest version of Risk Dimensions supports true 64-bit operation on both Windows and UNIX platforms. SAS is the leader in offering this kind of high-end analytical performance.
SAS offers a consolidated, comprehensive framework that fully addresses risk management needs for many industries including energy and financial services organizations. When SAS Risk Dimensions is coupled with the recently acquired software technology of RiskAdvisory’s BookRunner® and TradeBlotter™, the new offerings provide organizations with a complete risk platform encompassing the front, middle and back offices. For financial services, SAS Risk Dimension is part of a larger risk offering that assists in managing operational risk with SAS® OpRisk Management and credit risk with SAS® Credit Risk Management.