Credit Suisse, Reference Data Management on a Global Scale
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Presentation at the 8th MDM & Data Governance Summit New York by Sridhar Govindarajan, Director, Investment Bank Reference Data, Credit Suisse
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Credit Suisse, Reference Data Management on a Global Scale
- 1. Best Prac*ces: Reference Data Management on a Global Scale Sridhar Govindarajan Director, Investment Bank Reference Data Credit Suisse
- 2. Reference Data Overview (Chief Data Officer’s perspecAve) • Reference Data (from Chief Data Officer perspecAve) is all of the data that does not change throughout the lifecycle of a trade. It is: – the legal idenAfiers for our counterparAes and our legal enAAes – the descripAve data of a product – the method and hierarchy by which data is aggregated and reported – the legal contracts – the book data • Reference Data is not transacAonal data that changes with changes in the market, for example: – trading volumes – prices (current and historic) • Reference Data comes from many sources both internally and externally – internally from business’ issuing securiAes e.g. Credit Suisse Issued SecuriAes – externally from sources such as exchanges and S&P, from aggregators such as Bloomberg and Reuters, and from data cleanse providers such as Avox (owned by the DTCC)
- 3. Reference Data Service: Mission, Goals & Objec*ves To realise a compeAAve advantage through the strategic delivery of consistent, accurate, Amely and complete reference data, front to back across the Investment Bank Drive bo;om-‐line growth Prompt and accurate responses to regulatory requests Mission Improved client service Increased business intelligence Goals Centralised reference data service managed by the Chief Data Officer Single Golden Copy of reference data Workflow routes updates to owning funcAon for approval Unique front-‐to-‐back internal data idenAfiers ProacAve legacy systems decommissioning ObjecAves Automated, real Ame data distribuAon from Golden Copy to all consumers
- 4. Business and Technology RelaAonship (1) § There is an “Implied” relaAonship between business and technology building blocks § Capturing the business process and business strategy enables translaAon into acAonable technology programs/projects (1) Source: TDWI Institute
- 5. Strategic Direction Business Architecture Application Architecture Infrastructure Architecture Business Architecture links Business Strategy with execuAon (iteraAve process)
- 6. The TOM Framework provides the components that can be used by any organizaAon to systemaAcally define and deliver the TOM in a structured manner 3 4 The Target OperaAng Model is comprised of six components which are: 1 Business Partners, 2 ata, Process, OrganizaAon and People, D 5 ApplicaAons and Technology and 6 Provider. Business Partner 6) The Provider Model defines the suppliers of the data to the Organization including where the data is sourced from 1 1) The Business Partner Model describes the immediate clients of the Organization 6 2 Provider Data Target Opera*ng Model 5 ApplicaAons and Technology 5) The Applications and Technology Model is the target infrastructure and technology landscape that supports how the Organization can conduct its activities efficiently, cost effectively, and is a model that is sustainable to support growth for the Organization 3 Process 4 OrganizaAon and People 2) The Data Model captures the semantic meaning of the data that is managed by the Organization 3) The Process Model describes all acAviAes of the OrganizaAon including how they govern the data that they manage. 4) The Organization and People Model defines roles and responsibilities of the Organization including the engagement model the organization has with its business partners, providers, IT, and external bodies
- 7. Why focus on the TOM? ! 90% of our Change teams (business and IT) focus on delivering the ApplicaAons and Technology component of the TOM as their skills, cerAficaAons and implementaAon experiences have been in sodware development lifecycles ! Given our limited investment dollars in large-‐scale strategic programs and the aggressive Amelines we are oden under to deliver the soluAon to our user and meet regulatory deadlines, we all need to be mindful of ensuring that the deliveries we are accountable for fit into the overall TOM design ! We need to ensure that we include the TOM components in our delivery plans so that appropriate tollgates are accounted for and proper design can be achieved. We can accomplish more if each individual understands that what they are delivering aligns with the TOM components
- 8. CDU – Target OperaAng Model 1) Customers / Business Partners Customers: § CCRM Business Partners: § LCD (General Council) § Collateral Management Unit § Credit Risk Management § Information Technology § Reference Data Services Vendors: § Adsensa § Orchestra Networks § United Lex 2) Data § Contract Reference Data § Master Agreements § Schedules § Annexes § Agreement Party § Collateral Agreement § Other reference data (e.g. counterparty, product, calendar, rating agency, clause library, data capture rules, etc..) 3) Processes § Physical legal document OCR scanning, OCR correction, clause matching, and contract data capture § Acquisition of legacy agreement data and reference data (client, product, etc.) from providers § Validation and maintenance of contract data including event management (e.g. amendments) § Maintenance of data quality rules and clause library Suppliers 4) Organization and People DMMS Framesoft Algo Insight Inputs Counterpart y List Legal Contracts Clause Library Other Ref Data Processes OCR Scanning, Correction, Matching, Capture Contract Data Validation, Enrichment, Capture Agreement Event Managemen t and Exceptions ! CDU Data Quality Unit − 3rd party provider (~24 FTEs) for OCR document scanning and data capture, mastering and ongoing maintenance of the agreement data − 3 FTEs to manage 3rd party provider 5) Applications and Technology ! DMMS for sourcing and storage of legal documents ! WordSensa (Adsensa) for legal agreement OCR scanning, clause matching, and data capture ! EBX5 (Orchestra Networks) for Master Data Management of contract data (acquisition, maintenance, distribution) Agreement Master Data Governance 6) Provider/Supplier Outputs Mastered Agreement Data Customers CCRM Quality/Perf. Reports ! Legal Contracts from DMMS ! Legacy Agreement data from Framesoft ! Legacy Collateral data from Algo ! Counterparty Reference Data from Insight
- 9. CDU – ApplicaAon Architecture DMMS Adsensa Doc Manipulator Split, Group, Rename Contract Scans & Metadata Bulk Upload Tool Reference Data Hub Orchestra Networks Clause Matching Auto Match User Review & Correc*on Data Capture Rules Manager Clause Library User Review and Update Amber Document (PDF) EBX UI Comparison, Enrichment, Approvals, Overrides, Status Distribu*on User Review & Correc*on Expert Dic*onary XML Load & Transforma*on Service Auto load Contract txtXML Document OCR Mul*-‐En*ty and Amendments Adsensa Product Suite Wordsensa Vision CDU DB Reference Data Auto Extract User Review & Correc*on Data Extract Rules Counterparty FrameSo Legal En*ty Product ALGO Other 9
- 10. CDU – Process Model