Client Challenge
A major financial institution was struggling with a legacy Model Risk Governance (MRG) platform that was increasingly difficult to maintain, lacked scalability, and failed to keep pace with evolving regulatory requirements, including E23 regulations in Canada. The client sought to transition to SAS Model Risk Management (MRM) on SAS Viya, but faced significant challenges:
- Complex workflow development requirements.
- High regulatory scrutiny with E23 compliance.
- A tight timeline of just five months for completion.
Our Solution
SureStep was engaged to lead this critical migration, leveraging our deep expertise in SAS MRM and regulatory compliance. Our approach included:
- Conducting a detailed assessment of the legacy system and defining a clear migration strategy.
- Designing and developing custom workflows within SAS MRM to accommodate complex regulatory requirements, including E23.
- Collaborating closely with the client’s teams to ensure that the new platform aligned with their operational needs.
- Performing rigorous testing and validation to ensure a smooth transition with zero data loss.
- Managing the project with a focus on efficiency and accountability, consistently maintaining a "green" status for on-time delivery.
Results Achieved
- Completed the migration on time and under budget within five months.
- Achieved full E23 compliance with customized workflows and controls.
- Established a scalable Model Risk Governance platform on SAS Viya, enhancing the bank’s ability to manage model risks.
- SureStep was the only team in the program to consistently maintain a “green” status for delivery, reflecting our commitment to excellence.
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