Once the run is complete, the results can be stored and no additional IT resources are needed.
With sufficient computing power, a run may take 30 minutes. These operations require a large number of processors because the computation is often carried out in parallel. Business and Technological Contextįirst, it was necessary to address the increase in simulation capacities to better support the risk businesses in precisely identifying the credit risk impacts of economic events, for example, the COVID-19 pandemic, Brexit, raw materials availability, and others. We anticipate a ramp up of this new solution in the coming months to serve our simulation challenges in the field of credit risk initially, then more broadly in finance, liquidity, and solvency. Société Générale teams are considering an even more generic offer to be rolled out during the next two years, with a generalization of the calculation algorithms, allowing them to onboard new use cases without custom developments.Īfter a year of development, AWS is able to provide our customers with a computing grid for real-time needs with high call frequency on a low volume, and a batch processing capability for more complex needs. Société Générale teams are also planning the complete migration of credit risk calculators and the roll-out of the offer to new business uses (Compliance and ALM). In 2021, two internal customers will benefit from this new solution. It reduces development times by 20% and reduces operating costs up to 7x, thanks to a pay-per-use model. It raises the level of resilience, thanks to Multi-AZ architecture, to the level of the best market standards. It fully decouples storage from processing to address Société Générale’s new simulation needs. This offer, intended for Tech Leads and Developers, includes a set of automated deployment and starter kit services for batch or real-time processing. It is comparable in terms of computational results with the previous generations, accessible via an API interface, and open to integration with several development languages and big data solutions. The solution was then deployed in production at the end of 2020. The first prototype was built in a few months, and tested computing capacities up to 1,800 nodes and 10 GB of volume exchanged per run to meet the needs of Société Générale. To do this, they introduced a new type of cost-effective solution, oriented toward the end customer. The management wanted to build a new generation of computing engines at the launch of this initiative, in order to allow as many users as possible to benefit from the experience acquired over the years by the team. The corporate IT service unit of Société Générale serves business units in the areas of Finance, Risk, Compliance, Human Resources, Communication, Real Estate, and Purchasing.Īs part of the transformation program of this central department and five years after the in-house design of the first credit risk calculator, the team reached a new milestone in December 2020 by deploying the first risk computing engine built on AWS services. This blog post gives you a real-world example of how one of Europe’s leading banking institutions, Société Générale, is using AWS to solve the need for flexible, scalable, and cost-effective compute capacity.
That’s why many customers are using the power and flexibility of the cloud to solve use cases that require high computing power for a potentially short period of time. One of the many benefits of using the AWS Cloud is the ability to access resources on demand in seconds. This post was co-written with Soufiane Matine, Senior Expert Architect at Société Générale and Thierry Wilmot, IT Managing Director at Société Générale.
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