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Data Rationale Needed as Exotic Instruments Mature, JPM’s Serentia Tells FIMA 2008
Not all data should be centralised and there has to be a rationale for the data that you do centralise, said Peter Serenita, chief data officer of JPMorgan Worldwide Securities Services in a FIMA panel about ‘Ensuring a successful group-wide data management model’. “Exotic instruments are not commoditisable, but you need to have a data…
Case Study: Leveraging Data for Operational Risk Monitoring
Given the rise of high profile incidents related to rogue trading, a major US bank has worked with business and technology consultant Detica to pull together its data to monitor operational risk across a number of controls in order to provide an effective tool to combating these incidents. Through the process, however, other business benefits…
ECB’s CSDB Could be Used as IBEI Repository, Says Finsoft’s Christensen
The European Central Bank’s Centralised Securities Database (CSDB) could be used as the industry’s recognised source of business entity identifiers in the future, contended Soeren Kier Christensen, managing director of Finsoft Financial Systems. “Each institution needs a unique identifier and the CSDB currently tracks these for each European institution. By using these already standardised codes,…
Keeping a Team Onshore to Monitor Data Quality is Key, Agrees Offshoring and Outsourcing Panel
Institutions should keep a small team of data experts on board in order to adequately monitor that service level agreements are being met by outsourcing providers and data requirements are being catered to by offshore teams, agreed FIMA 2008’s panel on offshoring and outsourcing. Susan Outzen, business relationship manager in the enterprise data management (EDM)…
JPMorgan’s Serenita Debates the Issue of Truth in the Data Management World
The success of a data management project should not be measured on achieving an idealistic version of the “truth”, it should be focused on data integration and downstream impacts, said Peter Serenita, chief data officer at JPMorgan Securities Services. “Although the integrity and accuracy of the data is important, institutions must focus on distributing and…
The Front Office is Not Your Enemy, it’s Your Client, Says WestLB’s Eldridge
In order to receive management buy-in, data management teams need to treat the front office as a client rather than as an enemy, said Michael Eldridge, head of European operations control at WestLB. “We need to dispel the myth that centralised data management is a luxury, build a better business case for investment by measuring…
Alvarez Moves from Asset Control to Interactive Data Reference Data Role
Interactive Data has brought on board Marc Alvarez to oversee reference data infrastructure for its Pricing and Reference Data business. Alvarez joins after a stint at Asset Control, which he joined when that company bought Tap Solutions in April 2007. In his new role as senior director Alvarez will be responsible for the utilization and…
Optimism Abounds at FIMA Data Integration Stream
In spite of – or, indeed, maybe because of – the grim news emanating from the financial pages in recent weeks, enterprise data management practitioners have much to be optimistic about. That was at least the impression given by presenters in the Data Integration stream of the FIMA Financial Data Management Conference Wednesday afternoon. Stream…
Calyon’s Moutot Elaborates on Centralised Counterparty Database Challenge
Calyon has been engaged in a lengthy project to connect its “patchwork of IT systems” for counterparty data and has, thus far, managed to eliminate 30,000 duplicates, said Serge Moutot, the firm’s head of global referentials management. He explained to FIMA delegates that the decision to centralise and integrate counterparty data across the firm was…
An Incremental and Practical Approach to Data Integration is Best, Agrees Golden Copy Repository Panel
In order to ensure that downstream departments remain in synch with central data management projects, firms must adopt an incremental and practical approach to data integration, agreed FIMA’s panel on the practicalities of managing a golden copy repository. Peter Giordano, executive director of institutional equities at Oppenheimer & Co, recommended that firms roll out the…