# SAS Model Risk Management for banks: pricing, customers, review

Source: https://www.bankingnewsai.com/vendors/sas-model-risk
Last updated: Sep 24, 2026

*SAS sells Model Risk Management as one module of its risk-software portfolio on the SAS Viya platform, mainly to banks and insurers that already run SAS for credit risk, stress testing and regulatory capital, and adds AI-governance products (AI Governance Manager, AI Navigator) alongside it.*

## What is SAS Model Risk, and which banks use it?

SAS Model Risk Management is a module of SAS Institute's risk software, launched in April 2015, that keeps a bank's model inventory, runs validation and findings workflows, and monitors model performance on SAS Viya. SAS is private and founder-owned, with just over $3 billion in annual revenue. None of our 100 banks is named as a current customer in a live SAS source. Pricing is not published. SAS's public model-risk material still references SR 11-7; we found no SAS statement on SR 26-2.

## At a glance

| Field | Value |
| --- | --- |
| Category | [Model risk and AI governance](https://www.bankingnewsai.com/ai-tools/model-risk-governance) |
| Founded | 2015 |
| Headquarters | Cary, North Carolina |
| Ownership | Product of SAS Institute, which is private and founder-owned (Jim Goodnight and John Sall); SAS has said since about 2021 that it is preparing for an IPO, but as of May 2026 no listing was scheduled. ([Forbes (reprint hosted by SAS)](https://www.sas.com/content/dam/sasdam/documents/20260302/forbes-daily-goodnight-article.pdf)) |
| Ticker | private |
| Deployment | Software on the SAS Viya platform (cloud-based) |
| Pricing model | Enterprise software licence, sales-led; typically bought as part of a broader SAS risk or Viya contract. |
| Banks among the 100 largest US banks | 0 |

## Products

| Product | What it does | Status | Sources |
| --- | --- | --- | --- |
| SAS Model Risk Management | Model inventory, candidate assessment, documentation, validation and findings workflow, monitoring and model-risk reporting on SAS Viya. | Generally available | [SAS](https://www.sas.com/en_us/software/model-risk-management.html), [SAS](https://www.sas.com/en_us/software/model-risk-management/features-list.html), [Marketwired via Yahoo Finance](https://finance.yahoo.com/news/sas-r-model-risk-management-140000128.html) |
| SAS Model Manager | SAS Viya model-management component that SAS lists alongside Model Risk Management in its model-lifecycle governance stack. | Generally available | [SAS Communities](https://communities.sas.com/t5/SAS-Communities-Library/SAS-Model-Risk-Management-on-Viya-Beyond-ModelOps/ta-p/977822) |
| SAS Governance & Compliance Manager | SAS GRC module (incident management, risk assessment, KRI monitoring) that can be integrated with Model Risk Management on Viya. | Generally available | [SAS Communities](https://communities.sas.com/t5/SAS-Communities-Library/SAS-Model-Risk-Management-on-Viya-Beyond-ModelOps/ta-p/977822) |
| SAS AI Governance Manager | SAS product for regulated industries such as banking and insurance combining governance, policy controls, MRM and model deployment. | Generally available | [PR Newswire](https://www.prnewswire.com/news-releases/chartis-names-sas-a-leader-in-ai-governance-302712057.html) |
| SAS AI Navigator | Standalone SaaS registry of AI models, agents and use cases with importable policy packs, gap alerts and audit trails; announced April 2026 for availability on Microsoft Azure Marketplace in Q3 2026, with a private preview. | Announced | [SAS](https://www.sas.com/en_us/news/press-releases/2026/april/ai-navigator.html), [SAS](https://www.sas.com/en_us/software/ai-navigator.html) |

## How much does SAS Model Risk cost?

How it is charged: Enterprise software licence, sales-led; typically bought as part of a broader SAS risk or Viya contract..

SAS Model Risk does not publish a price list.

Pricing is not published. SAS's Model Risk Management product page and solution brief carry no price and direct buyers to sales; the solution brief cites potential model-governance cost savings of 20% to 30% from McKinsey assessments and customer results, but no licence cost.

## Which banks use SAS Model Risk?

None of the 100 largest US banks covered on this site is publicly named as a SAS Model Risk customer as of Sep 24, 2026.

## Flagship platform: SAS Model Risk Management on SAS Viya

A centralized model inventory with candidate assessment, documentation and workflow management, model review and validation, findings and action plans, performance monitoring against thresholds, and model-risk dashboards; it can be combined with SAS Governance & Compliance Manager and SAS Model Manager on Viya. ([SAS](https://www.sas.com/en_us/software/model-risk-management.html), [SAS](https://www.sas.com/en_us/software/model-risk-management/features-list.html), [SAS Communities](https://communities.sas.com/t5/SAS-Communities-Library/SAS-Model-Risk-Management-on-Viya-Beyond-ModelOps/ta-p/977822))

## Key points

- SAS launched SAS Model Risk Management at SAS Global Forum in April 2015 as a model-governance solution for banks; it now runs on the SAS Viya platform.
- Core functions, per SAS: model candidate assessment, inventory and attestation, documentation in the bank's own templates, validation workflows, findings and action plans, performance monitoring with thresholds and alerts, and aggregate model-risk reporting; it stores in-house and third-party models.
- SAS Institute is private and founder-owned; Forbes reported in May 2026 that it generates just over $3 billion in annual revenue and that an IPO it has discussed for about five years is not scheduled.
- Chartis has placed SAS as a category leader in model risk governance repeatedly (SAS cited a 10th year in 2023) and in AI governance solutions in March 2026; these are analyst ratings SAS publicises, not customer evidence.
- SAS added AI-governance products beside MRM: SAS AI Governance Manager for regulated industries, and SAS AI Navigator, a SaaS inventory of AI models, agents and use cases announced in April 2026 for Q3 2026 availability.
- SAS's public model-risk material still frames US requirements around SR 11-7; as of 2026-09-24 we found no SAS page on SR 26-2, which replaced it in April 2026.
- In May 2025 David Asermely, described as SAS's global head of MRM solutions, left to join ValidMind, a competitor.

## Timeline

- May 15, 2026 — **IPO timing uncertain** Forbes reports Goodnight still wants an IPO but that SAS is not yet ready, and that its CFO is preparing alternatives including a minority investment. ([Forbes (reprint hosted by SAS)](https://www.sas.com/content/dam/sasdam/documents/20260302/forbes-daily-goodnight-article.pdf))
- Apr 28, 2026 — **SAS AI Navigator announced** At SAS Innovate, SAS announces AI Navigator, a SaaS AI-inventory and governance product, for availability on Microsoft Azure Marketplace in Q3 2026. ([SAS](https://www.sas.com/en_us/news/press-releases/2026/april/ai-navigator.html))
- Mar 12, 2026 — **Chartis AI governance category leader** Chartis names SAS a category leader for AI governance solutions among 28 vendors; SAS previews AI Navigator and describes AI Governance Manager. ([PR Newswire](https://www.prnewswire.com/news-releases/chartis-names-sas-a-leader-in-ai-governance-302712057.html))
- Oct 29, 2025 — **MRM on Viya integration described** SAS describes combining Model Risk Management with Governance & Compliance Manager, Model Manager and other Viya components for model governance. ([SAS Communities](https://communities.sas.com/t5/SAS-Communities-Library/SAS-Model-Risk-Management-on-Viya-Beyond-ModelOps/ta-p/977822))
- May 12, 2025 — **SAS's MRM solutions head leaves for ValidMind** David Asermely, described as SAS's global head of MRM solutions, joins competitor ValidMind as VP of global business development. ([Business Wire](https://www.businesswire.com/news/home/20250512681024/en/SAS-Executive-and-Global-Head-of-MRM-Solutions-David-Asermely-Joins-ValidMind-as-Vice-President-of-Global-Business-Development-and-Growth-Strategy))
- May 5, 2023 — **Chartis leader in model risk governance and validation** Chartis rates SAS a category leader in model risk governance (SAS says for a 10th year) and model validation, based on the cloud-based SAS Model Risk Management. ([SAS](https://www.sas.com/en_us/news/press-releases/2023/may/chartis-leader-mrm-model-risk-governance-and-model-validation.html))
- Apr 27, 2015 — **SAS Model Risk Management launched** SAS rolls out Model Risk Management at SAS Global Forum as a model-governance solution giving banks a complete view of their models, with inventory, validation, change and usage tracking. ([Marketwired via Yahoo Finance](https://finance.yahoo.com/news/sas-r-model-risk-management-140000128.html))
- Jan 1, 1976 — **SAS founded** Jim Goodnight and John Sall's SAS Institute, based in Cary, North Carolina, marks 50 years in 2026 (founding day not given in the cited sources). ([Forbes (reprint hosted by SAS)](https://www.sas.com/content/dam/sasdam/documents/20260302/forbes-daily-goodnight-article.pdf), [SAS](https://www.sas.com/en_us/company-information.html))

## What do banks use SAS Model Risk for?

| Use case | What | Status | Detail | Sources |
| --- | --- | --- | --- | --- |
| [Model risk management](https://www.bankingnewsai.com/ai-regulation/by-use-case#model-risk) | Model inventory, validation and monitoring | In production | Central inventory with attestation, validation workflows, findings and action plans, and threshold-based performance monitoring for credit, market, fraud and other bank models. | [SAS](https://www.sas.com/en_us/software/model-risk-management.html), [SAS](https://www.sas.com/en_us/software/model-risk-management/features-list.html), [SAS Communities](https://communities.sas.com/t5/SAS-Communities-Library/The-2026-Mandate-Why-Model-Risk-Management-Is-Now-a-Strategic/ta-p/985640), [SAS](https://www.sas.com/sv_se/insights/articles/risk-fraud/model-risk-management-vital-regulatory-business-sustainability.html) |
| [Third-party & vendor AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#third-party-vendors) | Third-party model records | In production | Stores attributes and assumptions for in-house and third-party models in the same inventory. | [SAS](https://www.sas.com/en_us/software/model-risk-management/features-list.html) |
| [AI governance (general)](https://www.bankingnewsai.com/ai-regulation/by-use-case#governance-general) | AI governance for regulated firms | In production | AI Governance Manager combines policy controls, MRM and deployment for banks and insurers; SAS publishes how it splits EU AI Act duties with customers. | [PR Newswire](https://www.prnewswire.com/news-releases/chartis-names-sas-a-leader-in-ai-governance-302712057.html), [SAS](https://www.sas.com/en_us/trust-center/sas-trust-ai/eu-ai-approach.html) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Inventory of LLMs and agents | Announced | AI Navigator registers LLMs, agents and third-party AI tools against internal policies and regulations; announced for Q3 2026. | [SAS](https://www.sas.com/en_us/news/press-releases/2026/april/ai-navigator.html), [SAS](https://www.sas.com/en_us/software/ai-navigator.html) |

## Disclosed numbers

| Measure | Value | As of | Sources |
| --- | --- | --- | --- |
| SAS annual revenue (Forbes) | just over $3 billion | May 15, 2026 | [Forbes (reprint hosted by SAS)](https://www.sas.com/content/dam/sasdam/documents/20260302/forbes-daily-goodnight-article.pdf) |
| Model-governance cost savings (SAS-reported, citing McKinsey assessments and customers) | potential 20% to 30% | Sep 24, 2026 | [SAS](https://www.sas.com/en/solution-briefs/model-risk-management-114057.html) |
| Years as a Chartis model risk governance leader (SAS-reported) | 10 | May 5, 2023 | [SAS](https://www.sas.com/en_us/news/press-releases/2023/may/chartis-leader-mrm-model-risk-governance-and-model-validation.html) |
| Countries with SAS customers | more than 150 | Sep 24, 2026 | [SAS](https://www.sas.com/en_us/company-information.html) |

## Quotes

> "AI governance isn't a compliance exercise – it's a competitive advantage." — Stu Bradley, Senior Vice President, Risk, Fraud and Compliance Solutions, SAS, Mar 12, 2026 ([PR Newswire](https://www.prnewswire.com/news-releases/chartis-names-sas-a-leader-in-ai-governance-302712057.html))

> "The biggest risk to any AI governance program isn't regulation; it's a tool so complex that no one uses it." — Reggie Townsend, Vice President, SAS AI Ethics, Governance and Social Impact, Apr 28, 2026 ([SAS](https://www.sas.com/en_us/news/press-releases/2026/april/ai-navigator.html))

## Who runs SAS Model Risk?

- **Jim Goodnight** — Co-founder and Chief Executive Officer, SAS Institute ([Forbes (reprint hosted by SAS)](https://www.sas.com/content/dam/sasdam/documents/20260302/forbes-daily-goodnight-article.pdf))
- **Stu Bradley** — Senior Vice President, Risk, Fraud and Compliance Solutions, SAS ([PR Newswire](https://www.prnewswire.com/news-releases/chartis-names-sas-a-leader-in-ai-governance-302712057.html))
- **Reggie Townsend** — Vice President, SAS AI Ethics, Governance and Social Impact ([SAS](https://www.sas.com/en_us/news/press-releases/2026/april/ai-navigator.html))
- **Matt Parson** — Chief Financial Officer, SAS Institute ([Forbes (reprint hosted by SAS)](https://www.sas.com/content/dam/sasdam/documents/20260302/forbes-daily-goodnight-article.pdf))

## Which rules apply to a bank using SAS Model Risk?

- [Federal Reserve](https://www.bankingnewsai.com/ai-regulation/federal-reserve) — SAS Model Risk Management is an inventory and validation tool for the models SR 26-2 covers; the bank must configure it for SR 26-2's narrower model definition and materiality tiers, as SAS's published MRM material still describes SR 11-7. See [SR 26-2](https://www.bankingnewsai.com/ai-regulation/documents/fed-sr-26-2).
- [OCC](https://www.bankingnewsai.com/ai-regulation/occ) — OCC 2026-13 sets the model-risk expectations the inventory and validation records must evidence; where the bank runs SAS on a SAS-hosted cloud, OCC's third-party guidance applies to SAS as well. See [OCC Bulletin 2026-13](https://www.bankingnewsai.com/ai-regulation/documents/occ-bulletin-2026-13), [OCC Bulletin 2023-17](https://www.bankingnewsai.com/ai-regulation/documents/occ-bulletin-2023-17).
- [FDIC](https://www.bankingnewsai.com/ai-regulation/fdic) — FDIC-supervised banks follow the same interagency model-risk guidance (FIL-15-2026) that SAS Model Risk Management workflows are configured to support. See [FDIC FIL-15-2026](https://www.bankingnewsai.com/ai-regulation/documents/fdic-fil-15-2026).
- [EU AI Act](https://www.bankingnewsai.com/ai-regulation/eu-ai-act) — SAS has signed the EU AI Pact and publishes how it splits AI Act duties with customers; a bank with EU operations that builds high-risk AI, such as credit scoring, on SAS remains responsible as provider or deployer. See [Regulation (EU) 2024/1689](https://www.bankingnewsai.com/ai-regulation/documents/eu-ai-act-regulation-2024-1689).

## What the record suggests

### No current named bank customer in a live source

None of our 100 bank pages names SAS Model Risk Management, and we found no live SAS page naming a current US bank customer for this module; a buyer seeking references would need to ask SAS directly.

### SR 26-2 is not yet reflected in SAS's public material

The SAS model-risk article and product pages we reviewed reference SR 11-7; we found no SAS statement on SR 26-2's materiality tiers or its exclusion of generative and agentic AI.

### It is one module in a larger SAS estate

SAS positions MRM alongside Model Manager, Governance & Compliance Manager, stress-testing and regulatory-capital products on Viya, so fit and cost depend on the rest of the bank's SAS footprint.

### Pricing is not published

SAS publishes no licence price for Model Risk Management; its only figure is a 20% to 30% potential governance cost saving attributed to McKinsey assessments and customer results.

### Analyst ratings are SAS-publicised

SAS's Chartis category-leader placements (model risk governance, validation, AI governance) are analyst ratings SAS promotes, not independent customer outcomes.

## FAQ

### How much does SAS Model Risk Management cost?

SAS does not publish a price for Model Risk Management. It is licensed through sales-led enterprise contracts, usually as part of a broader SAS risk or SAS Viya agreement. The only figure on SAS's solution brief is a potential 20% to 30% saving in model-governance costs, which SAS attributes to McKinsey assessments and customer results -- a vendor-reported claim, not a price.

### Which banks use SAS Model Risk Management?

None of the 100 largest US banks tracked on this site is named as a current SAS Model Risk Management customer in a source that is still online. Forbes reported in May 2026 that SAS earns revenue from most of the Fortune 100, including 90% of the financial-services companies, but that covers all SAS products, not this module.

### Who owns SAS Model Risk Management?

It is a product of SAS Institute, the Cary, North Carolina, analytics company founded by Jim Goodnight and John Sall, which is private and founder-owned. Forbes reported in May 2026 that SAS makes just over $3 billion a year, that Goodnight still wants an IPO, and that the CFO is preparing alternatives such as a minority investment.

### Does SAS Model Risk Management support SR 26-2?

SAS has not published SR 26-2-specific material that we could find as of 24 September 2026; its model-risk articles still cite SR 11-7. The product's configurable candidate assessment, model classification, validation workflows and monitoring are the functions a bank would adapt to SR 26-2's narrower model definition and materiality-based tiering.

### Does SAS govern generative AI and agents?

Not through Model Risk Management itself. SAS sells AI Governance Manager for regulated industries and announced SAS AI Navigator in April 2026, a SaaS registry of models, agents and AI use cases due on Microsoft Azure Marketplace in Q3 2026. SR 26-2 leaves generative and agentic AI outside model-risk guidance, so those tools sit in broader AI governance.

### SAS Model Risk Management vs ValidMind?

SAS Model Risk Management is a module of SAS's risk suite, on the market since 2015 and usually bought by SAS risk customers. ValidMind is a venture-backed platform founded in 2022 focused on automating model documentation and validation, which hired SAS's former global head of MRM solutions in 2025. Neither publishes prices.

## Sources (15)

1. SAS Model Risk Management (undated page, retrieved 2026-09-24) — SAS, Sep 24, 2026. https://www.sas.com/en_us/software/model-risk-management.html
2. SAS Model Risk Management Features List (undated page, retrieved 2026-09-24) — SAS, Sep 24, 2026. https://www.sas.com/en_us/software/model-risk-management/features-list.html
3. Model risk management solution brief (undated page, retrieved 2026-09-24) — SAS, Sep 24, 2026. https://www.sas.com/en/solution-briefs/model-risk-management-114057.html
4. Model risk management: Vital to regulatory and business sustainability (undated page, retrieved 2026-09-24) — SAS, Sep 24, 2026. https://www.sas.com/sv_se/insights/articles/risk-fraud/model-risk-management-vital-regulatory-business-sustainability.html
5. About SAS (undated page, retrieved 2026-09-24) — SAS, Sep 24, 2026. https://www.sas.com/en_us/company-information.html
6. The SAS Approach to the EU AI Act (undated page, retrieved 2026-09-24) — SAS, Sep 24, 2026. https://www.sas.com/en_us/trust-center/sas-trust-ai/eu-ai-approach.html
7. SAS AI Navigator (undated page, retrieved 2026-09-24) — SAS, Sep 24, 2026. https://www.sas.com/en_us/software/ai-navigator.html
8. With SAS(R) Model Risk Management, Banks Gain Clarity on Risk Models — Marketwired via Yahoo Finance, Apr 27, 2015. https://finance.yahoo.com/news/sas-r-model-risk-management-140000128.html
9. SAS a 10-year leader in model risk governance, per Chartis — SAS, May 5, 2023. https://www.sas.com/en_us/news/press-releases/2023/may/chartis-leader-mrm-model-risk-governance-and-model-validation.html
10. SAS Executive and Global Head of MRM Solutions David Asermely Joins ValidMind as Vice President of Global Business Development and Growth Strategy — Business Wire, May 12, 2025. https://www.businesswire.com/news/home/20250512681024/en/SAS-Executive-and-Global-Head-of-MRM-Solutions-David-Asermely-Joins-ValidMind-as-Vice-President-of-Global-Business-Development-and-Growth-Strategy
11. SAS Model Risk Management on Viya: Beyond ModelOps — SAS Communities, Oct 29, 2025. https://communities.sas.com/t5/SAS-Communities-Library/SAS-Model-Risk-Management-on-Viya-Beyond-ModelOps/ta-p/977822
12. Chartis names SAS a leader in AI Governance — PR Newswire, Mar 12, 2026. https://www.prnewswire.com/news-releases/chartis-names-sas-a-leader-in-ai-governance-302712057.html
13. The 2026 Mandate: Why Model Risk Management Is Now a Strategic Imperative — SAS Communities, Apr 6, 2026. https://communities.sas.com/t5/SAS-Communities-Library/The-2026-Mandate-Why-Model-Risk-Management-Is-Now-a-Strategic/ta-p/985640
14. SAS AI Navigator to bring order to AI chaos — SAS, Apr 28, 2026. https://www.sas.com/en_us/news/press-releases/2026/april/ai-navigator.html
15. Billionaire Jim Goodnight Built An Analytics Profit Machine. AI Is Forcing Its Reinvention (Forbes reprint) — Forbes (reprint hosted by SAS), May 15, 2026. https://www.sas.com/content/dam/sasdam/documents/20260302/forbes-daily-goodnight-article.pdf

Alternatives: [ValidMind](https://www.bankingnewsai.com/vendors/validmind) · [Credo AI](https://www.bankingnewsai.com/vendors/credo-ai) · [Monitaur](https://www.bankingnewsai.com/vendors/monitaur) · [Yields](https://www.bankingnewsai.com/vendors/yields-io) · [compare AI model risk and ai governance software](https://www.bankingnewsai.com/ai-tools/model-risk-governance) · [all AI tools for banks](https://www.bankingnewsai.com/ai-tools)

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