VBRR began the project of automation of assessment and operational risk management

On August 17, 2016 the SAS company announced the project of automation of assessment and operational risk management in the Russian Regional Development Bank (RRDB). VBRR automates operational risk management according to standards of Basel. In the project the complex product SAS Enterprise GRC is used.

Project Tasks

It is expected that implementing solutions of SAS for risk management will allow the customer to increase quality of the reporting and to correspond to the advanced practicians in the field of operational risk management. The bank expects to bring to other level the culture of operational risk management, quickly, qualitatively and with the minimum costs of resources to prepare the reporting under operational risks, to increase the level of knowledge of the management of those operational risks inherent in activity of each division.

Office VBRR, (2014)

The solution of SAS well proved at implementations in other banks, and our command was familiar with features and opportunities of solutions of the company. Therefore for process automation of operational risk management the bank selected the solution SAS Enterprise GRC based on the best practices of risk management in the largest banks of the world. Alexander Yefimov, head of department of operational risks of VBRR

Project Progress

Within the first stage of the project the historical database of events of operational risks is loaded, integration with service Service Desk is made. All divisions of head office of bank connected to an automated system, the quality of the reporting owing to implementation of more advanced approach to registration and investigation of events under operational risks improved.

The project large-scale and the customer expects effect by the end of 2016 when the automated system is spread around in branches.

In Russia there are not enough now banks which pay due attention to operational risks. The largest banks already started and completed the projects with SAS on implementation of oeprational risk management systems: it is Sberbank, VTB, Gazprombank. The others are engaged in the current problems, not so fundamental, but more important for them, so far, first of all, it is credit risks. It is pleasant to us to see that VBRR is in number of leaders and along with credit risks is engaged in control automation in operational risks that will promote further strengthening of its stability. Nikolay Filipenkov, the senior manager on business solutions,  Risk Business Consulting SAS EMEA  &  AP