Merrill Lynch licenses SAS for risk management

Merrill Lynch licenses SAS for risk management

Merrill Lynch has selected technology from SAS to manage its operational risk and comply with regulations including the Sarbanes-Oxley Act and the Basel II Accord.

SAS' Corporate Compliance for Sarbanes-Oxley system provides publicly traded organisations with a repository of financial documents, processes and controls from across global operations - that can be monitored, tracked and analysed.

Merrill Lynch will also use SAS' operational risk management software to identify, measure and control risk in order to comply with Basel II regulations.

Jim Goodnight, president and CEO of SAS, sys the combination of the two products will give Merrill Lynch an integrated, consistent interface and framework for risk and control self-assessment. This will help the bank maximise return from data-collection activities while minimising disruption to its business units, he says.

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