FRG and SAS Help BB&T Manage Risk Concentrations
CARY, North Carolina – September 1, 2010 – The Financial Risk Group (FRG) has been working in conjunction with SAS Institute to deliver a risk platform at BB&T which will help them better manage risk concentrations and comply with regulatory reporting requirements.
The project started over a year ago and along the way SAS risk management technologies were deployed that allowed BB&T to sunset legacy systems and at the same time gain more insight into their growing portfolio of assets. With more than $155 billion in assets, BB&T is the nation’s eleventh-largest financial holding company. BB&T offers full-service commercial and retail banking, and other financial services at more than 1,800 financial centers throughout the Southeastern and Mid-Atlantic states.
“FRG is unique in the risk management space in that it can offer broad and deep expertise covering both the services and technology necessary for a firm to ensure effectiveness and cost-efficiency in its risk management efforts,” said Dr. Panikkath. “I am delighted to be part of such a great team.”
Financial Risk Group is an international risk management services firm, dedicated to helping clients around the world maximize the effectiveness and value of their investments in risk management technology, methodology and processes. FRG provides clients with unique technology offerings, implementation services, business advisory services and thought leadership in various areas of risk management. For more information visit: www.frgrisk.com
SAS Institute, headquartered in Cary, N.C., has helped organizations across all industries realize the full potential of their greatest asset: data. Simply put, SAS allows you to transform data about customers, performance, financials and more into information and predictive insight that lays the groundwork for solid and coherent decisions. That’s why SAS is used at more than 45,000 sites in over 100 countries, including 93 of the top 100 companies on the 2010 FORTUNE Global 500® list. For more information visit: www.sas.com
BB&T Corporation, headquartered in Winston-Salem, N.C., is among the nation’s top financial-holding companies with $155 billion in assets. Its bank subsidiaries operate 1,800 financial centers. BB&T’s operating strategy distinguishes it from other financial holding companies. BB&T’s banking subsidiaries are organized as a group of community banks, each with a regional president, which allows decisions to be made locally, close to the client. This also makes BB&T’s client service more responsive, reliable and empathetic. Since 1989, BB&T has completed the acquisition of more than 63 community banks and thrifts, more than 95 insurance agencies, and 37 non-bank financial services companies. This acquisition strategy has contributed significantly to BB&T’s success. For more information visit: www.bbt.com