Union Bank of India, a premier public sector bank in the
country, has successfully modernised its risk management systems by
implementing SAS solutions to enhance and streamline the Bank’s risk operations
and reporting through advanced model risk management solutions.
Union Bank of India partnered with SAS and embarked on a
critical transformation initiative that addressed the data amalgamation and met
RBI’s regulatory requirements for credit and operational risk while obtaining
an enterprise view of the bank's risk exposure throughout the risk management
life cycle. The SAS team deployed a suite of SAS tools for risk modernisation,
including SAS Stratum, SAS IRM Solution, SAS Data Integration Studio, SAS GCM,
SAS Visual Analytics, and SAS Op-VaR.
This modernisation resulted in significant credit risk RWA
and capital savings with a single integrated system for RWA computation. This
standardised system enabled rapid RWA generation for large volumes of data
within just a few hours. In addition to RBI compliance across reporting, risk
computing, and audit functionality, the project also provided a 360-degree view
of operational risk with automated Key Risk Indicator (KRI) monitoring and
trend analysis.
Ashwini Kumar Choudhary,
Chief Risk Officer, Union
Bank of India, said, "Bank’s modernisation project marks a significant
milestone in our journey towards robust risk management. We look forward to
SAS’ continued support in ensuring we are equipped to address regulatory
requirements and drive business resilience."
Noshin Kagalwalla, Vice
President & Managing Director, SAS India, said, “Ease of integration and
regulatory compliance is key to ensure a smooth transition for amalgamated
entities. We are excited to support Union Bank of India in the endeavor to
modernise their risk management systems. We strive to empower the bank in
navigating regulatory shifts and bolstering operational efficiency.”
Union Bank of India is one of the leading public sector banks
in the country. The Bank, headquartered in Mumbai has a network of 8400+
domestic branches, 8900+ ATMs, 75800+ employees and 18,900+ BC Points. The Bank
has received several awards and recognition for its prowess in technology,
digital banking, financial inclusion, MSME and development of human resources.
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