Saudi Investment Bank to use Wynyard Software

Posted on November 27, 2015 · 2 min read

Saudi Investment Bank to use Wynyard Software - Featured Image | MEA Markets
Share this article
Image

Saudi Investment Bank to use Wynyard Software

Wynyard Group, will deliver its Wynyard Risk Management software to the Saudi Investment Bank.

All local banks must comply with the market regulations laid down by the local regulator SAMA (Saudi Arabian Monetary Agency) which is the Central Bank of the Kingdom of Saudi Arabia.

Hassan Khalaf Al-Faori, Head of Compliance said: “With the bank having grown and diversified over the years, the compliance team needs a more efficient way to manage the SAMA Regulatory Compliance Requirements and associated risk assessment.”

“We required a robust regulatory compliance framework that will simplify our complex regulatory, governance, risk and compliance program, deliver efficiencies and increase productivity.”

“We are confident that Wynyard Risk Management will help SAIB effectively, automate the regulatory compliance requirements, manage risk and monitor compliance. We expect it will also give us the most appropriate framework to enable risk-aware decisions to be incorporated into business strategy.”

“We expect the framework and compliance content that Wynyard has already developed in its system would give us a fast start and the most effective controls. We’re pleased to be working with the Wynyard compliance solution which will also help create a professional discipline for compliance management within the business culture.”

Wynyard Risk Management is a comprehensive, personalised, highly configurable software platform providing compliance, risk management framework to integrate corporate governance and regulatory compliance management with business and strategic objectives.

Wynyard Group CEO, Craig Richardson, said the Saudi Investment Bank’s decision to entrust Wynyard to deliver its Regulatory Compliance solution is testament to Wynyard’s ability to effectively address the challenges organisations face in managing their compliance, governance, and operational risk obligations.

“Wynyard has a strong track record of working in successful partnerships with its Middle East clients to deliver robust solutions that help them address the business challenges they face.”

You might also like

Looking for more? Gain deeper insights with these recommended articles, selected to provide further value.

October 17, 2022 Why and How Should You Invest in Mutual Funds in Dubai?

If you're looking for a way to grow your money, you may wonder how and where to invest. Mutual funds can be an excellent option for investors in Dubai, as they offer opportunities for growth and diversification. In this article, we'll di...

February 16, 2024 Trakhees Processes More Than 50,000 Transactions During 2023

The Department of Planning and Development - Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation (PCFC), completed more than 50,000 transactions carried out by the Trakhees’ Licensing Department during 2023, with a growth ...

February 9, 2024 Federal Tax Authority Earns ISO Certificate for Implementing International Standard In Its Innovation Management System

The innovation management system of the Federal Tax Authority (FTA) has earned a new international accreditation, in recognition of it implementing  global best practices and standards that enhance the effectiveness and efficiency of innovation ma...

Join our newsletter.

Gain Access To Exclusive Content

Stay Updated With The Latest News

It's Free To Subscribe

By signing up, you agree to receive marketing emails.

Join our newsletter box - side image
Trusted by the best teams around the world