Šiaulių Bankas Implements Risk Management System of SAS Institute
Šiaulių Bankas has chosen SAS Institute (SAS), a leader in business analytics software and services, as a strategic partner in improving its risk management system. SAS Asset and Liability Management – a solution in the SAS Stratum risk suite - is being implemented by the information technology company Paspara.
With Šiaulių Bankas becoming the third largest credit market participant registered in Lithuania as of 2020, and with the financial institution being included in the list of directly supervised banks in the euro area, the supervision of Šiaulių Bankas is subject to the same principles and standards as that of the largest euro area banks.
“Sustainable and effective risk management is one of the strategic goals of Šiaulių Bankas. By implementing reliable and flexible risk modelling and reporting solutions, we will be able to overcome challenges more easily, and at the same time remain innovative and provide the highest level of services to our clients,” emphasised Vytautas Sinius, Chairman of the Board and Chief Executive Officer of Šiaulių Bankas.
The smooth implementation of the project will be ensured by the information technology company Paspara, which understands the specifics of the Lithuanian market and already has experience in managing/administering data systems of Šiaulių Bankas.
“We are proud to have the opportunity to help Šiaulių Bankas develop a comprehensive risk management system to ensure efficient, timely and data-driven decision-making and compliance with the law. We believe that our solutions will not only ensure regulatory compliance, but also serve as a platform to help the bank’s management to make optimal decisions in a fast-changing world,” noted Brian Holden, regional Sales Director of SAS.
After the successful completion of the first phase of the project and the implementation of the SAS ALM module, Šiaulių Bankas will consider the implementation of other modules of the software offered by SAS designed to optimise the bank’s capital and liquidity, while ensuring compliance with regulatory requirements.
“SAS tools will allow us to respond quickly to changes in regulatory requirements and automate and standardise reporting processes. In addition, SAS software is perfectly compatible with the bank’s existing IT infrastructure. For these reasons, we see the prospect of a long-term partnership,” emphasised Mr. Sinius.
