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FEATURE: THREAT ASSESSMENT
C
ommercial International Bank – Egypt
(CIB), one of the largest private sector
banks in Egypt, has collaborated
with SAS, a leader in analytics, to deploy
the latest technologies in enterprise risk
management (ERM) and anti money
laundering (AML).
CIB’s strategic partnership with SAS
emphasises the bank’s commitment to
streamline its risk management processes
and adhere to local regulations and global
standards with regards to advanced analytical
monitoring, reporting and an adequate
control framework.
With this achievement, CIB continues to be a
pioneer of innovative technology and Digital
Transformation and holds true to its mission
of paving the future landscape for banking in
Egypt and the region.
Talha Karim, Head of Risk Management, Risk
Group at CIB, said: “The implementation
of the SAS Engine for credit, market and
operational risk is aligned with CIB’s
strategic ERM initiative with the objective of
a holistic and forward-looking approach to
risk management, coupled with a robust risk
appetite and risk culture framework.”
The deployed ERM solution ensures that
the bank is leveraging the leading global
techniques and standards in tracking its
various risk types, including operational,
market and credit risk, while providing all the
needed business intelligence and simulation
mechanisms to empower timely and data
insight driven decisions.
The renowned SAS AML solution further
strengthens CIB’s capabilities for proper
identification of unusual transactions
and activities and effectively manages its
compliance risks with effective, sustainable
processes and controls in order to safeguard
the bank’s reputation as well as meet
regulatory requirements leveraging
advanced analytical algorithms and Machine
Learning techniques.
Emphasising the strong capabilities offered
by these solutions, Abla Khairy, Chief
Compliance Officer at CIB, said: “With the
deployment of this solution, we believe
that the implementation of the SAS AML
Engine will guarantee proper management
of compliance and apply a risk-based
approach which will assist to safeguard the
bank’s reputation and avoid any adverse
actions of non-compliance.”
Abed Hamandi, Regional Director of
Professional Services for Middle East and
Africa at SAS, added: “Building on our long-
standing relationship with CIB, we have
partnered together to ensure the successful
implementation of the compliance and
enterprise risk platform to support CIB in
their overall strategic plans.
www.intelligentcio.com
“This has come to execution with the
collaboration of both teams and the
willingness to change and transform to the
best practices in terms of operations and
technology. Hence, we are extremely glad
to have supported the bank in meeting its
compliance objectives and the holistic goals
of its ERM initiative with our AML and ERM
platforms through SAS Analytical Platform
and the world class professional services.”
SAS hosted a project completion ceremony
to commemorate this implementation in line
with CIB’s ERM initiative. Emphasising the
uniqueness of this particular initiative, SAS
recognised the efforts by both the teams to
make this project a success and presented
CIB with its excellence and leadership award.
The award was received by Mohamed
Sultan, Chief Operating Officer, and Hanan
El Borollossy, Deputy Chief Risk Officer. n
SAS presented CIB with its excellence and
leadership award. The award was received
by Mohamed Sultan, Chief Operating
Officer, and Hanan El Borollossy, Deputy
Chief Risk Officer.
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