Macquarie Bank —
SAS Model Risk Management
(MRM) Implementation
Asteriqx Consulting led the implementation of a Model Risk Governance solution at Macquarie Bank, one of Australia’s leading financial institutions. The engagement centred on configuring the SAS Model Risk Management (MRM) platform to align with the bank’s enterprise-wide governance requirements — covering both regulatory and non-regulatory models. Umair Ahmed led the project end-to-end, from initial requirements discovery through to final solution delivery.
Macquarie Bank required a structured, technology-enabled approach to model risk governance that could serve both its regulatory obligations and internal model oversight needs. The SAS MRM platform was selected as the foundation. Asteriqx Consulting was engaged to lead the implementation — bringing together business requirements, governance expertise, and technical configuration into a coherent solution tailored to the bank’s operating environment.
- Conducted requirement workshops with model owners, risk managers, and governance teams across the bank
- Documented current-state model inventory, validation workflows, and approval processes
- Translated business and regulatory requirements into functional design specifications for the SAS MRM platform
- Consulted the Model Governance team on industry-standard model risk management frameworks and workflows
- Advised on structuring governance processes to meet regulatory expectations for both regulatory and non-regulatory models
- Provided recommendations on model tiering, risk classification, and lifecycle management within SAS MRM
- Led the implementation team in configuring SAS MRM workflows, forms, and approval processes to match the bank’s governance model
- Customised the platform to support separate governance tracks for regulatory and non-regulatory models
- Ensured the solution aligned with Macquarie Bank’s existing risk infrastructure and reporting requirements
- Oversaw user acceptance testing and iterative refinement through to final sign-off
- SAS MRM solution successfully configured and deployed across Macquarie Bank’s model governance function
- Unified governance workflows established for both regulatory and non-regulatory models
- Model risk lifecycle — from registration through validation, approval, and ongoing monitoring — fully operationalised within the platform
- Bank’s model governance team equipped with clear processes, platform knowledge, and documentation to manage MRM operations independently
- Delivered on schedule, with the project completed in November 2024
Umair Ahmed led the engagement as the sole Asteriqx representative, serving as both the client-facing project lead and the primary governance advisor. His role spanned the full delivery lifecycle — from facilitating requirements workshops and advising on governance design, to directing the implementation team through platform configuration and user testing.
The engagement demonstrated Asteriqx’s ability to operate at the intersection of model risk governance expertise and SAS MRM technical delivery — providing Macquarie Bank with a solution that was both regulatory-grade and operationally practical.
The project was completed in November 2024, delivering a fully configured Model Risk Governance platform that positions Macquarie Bank to manage model risk with consistency, auditability, and regulatory confidence — across its entire model inventory.