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Council in Action

2014

March 31 Industry Update (Webinar) 


March 28  Presentation at the Big Data Summit (University of Maryland)


March 26  Keynote on The Perfect Storm for FIBO at the OMG Crossing the Semantics Chasm Conference (Reston, VA)


March 25 Presentation to FIMA on data implications of BCBS 239 (Boston)


March 24  Member Brief (Boston)


March 19 Data Management Forum with Sapient (Toronto)


March 19 Executive Roundtable Breakfast (Toronto)


March 18 Member Brief (Toronto)


March 18 Organizational Meeting with leading bank representatives (Montreal)


March 17 Presentation on Basel RDA (BCBS 239) to PRMIA (Montreal)


March 11 Presentation on Ontology and Open Data at South by Southwest (SXSW) Conference (Austin, TX)


March 5 Member Briefing (NYC)


February 28 Meeting UK BCBS Task Force


February 27 Member Briefing (London)


February 26 IBOR meeting (London)


February 25 OFR Financial Research Advisory full committee meeting


February 17 Meeting with the Prudential Regulatory Authority (London) on BCBS 239 requirements


February 13 BCBS US Task Force Meeting


February 10 Meeting of Commodity Futures Trading Commission Technical Advisory Committee on derivatives reporting


February 6 CDO Forum Dinner (with Element-22)


February 6 EDM Council Board Meeting


January 28 Presentation of FIBO operational ontology to CFTC and OFR 


January 23 OFR Financial Stability Oversight Council meeting on systemic risk  


January 16 BCBS US Task Force meeting


January 9 OFR Data & Technology Subcommittee meeting


January 6 Meeting with Mortgage Bankers Association on alignment of FIBO with MISMO

2013

December 12 Membership briefing (Toronto)

December 11 Meeting with Institute of International Finance (IIF) on Basel RDA collaboration


December 10 Mortgage Data Standards (part 2)


December 10 OFR Data & Subcommittee Meeting


December 9 OFR Risk Subcommittee Meeting


December 6 OFR Risk Management Subcommittee Meeting


December 5 Demo of FIBO operational ontology to membership


December 2 Meeting with Investment Book of Records (IBOR) on ontology for positions


November 25 Discussion with OFR and the Federal Housing Financial Authority on mortgage data standards


November 25 Meeting with the Financial Conduct Authority on regulatory reporting and common financial language


November 20 Presentation on Data Governance in Financial Services (Ft. Lauderdale)


November 18 Presentation to Bank of England of draft ontology for regulatory reporting proof of concept (London, UK)


November 13 Presentation to Financial Stability Board’s OTC Working Group on Aggregation on FIBO and inference processing (Basel)


November 7 Board of Advisors meeting for the Data Transparency Coalition (Washington DC)


November 7 Presentation to Ontolog Forum on FIBO Transaction Semantics


November 5 OFR Financial Research Advisory Sub-Committee Meeting


November 1 EDM Council Board of Directors meeting


October 31 Presentation to CFTC on FIBO capabilities (Washington DC)


October 29 Chief Data Officers NYC meeting on Basel Risk Data Aggregation Principles (sponsored by EY)


October 17 Chief Data Officers London meeting on Basel Risk Data Aggregation Principles (sponsored by Morgan Franklin Consulting)


October 11 Presentation to the Financial Conduct Authority on data quality


October 8 OFR Financial Research Advisory Sub-Committee Meeting


October 3 EDM Council Members Briefing (London)


September 30 Coordination meeting with BIAN on FIBO


September 26 OFR Financial Research Advisory Sub-Committee Meeting


September 25 Presentation at OMG Summit on the Business Case for Financial Ontology (New Brunswick)


September 24 Keynote presentation on key principles for sustainable data governance (New York City)


September 24-25 Object Management Group Quarterly Meeting (New Brunswick, NJ)


September 23 Chief Data Officers meeting on core data elements (sponsored by Element-22 and Collibra)


September 19 EDM Council Members Briefing (New York City)


September 19 Roundtable facilitation on entity information management (sponsored by iGATE)


September 17 Presentation to OFR on FIBO and data harmonization (Washington DC)


September 16 Presentation of tutorial on FIBO (with David Newman, Wells Fargo) at International Conference on Semantic Computing (Irvine, CA)


September 12 CFTC Technical Advisory Committee meeting (Washington DC)


August 1 OFR Financial Research Advisory Committee meeting (New York City)


July 29 Presentation on data management and common financial language to FINRA (Rockville)


July 24 Meeting facilitation on entity data management (sponsored by Interactive Data Corporation)


July 17 Presentation at MIT Data Quality Summit (Boston)


July 2 Presented at the Open Ontology Repository project on the technical requirements for sharing concepts between FIBO and other ontologies.


June 26 Presentation at the LEI webinar hosted by EDMC member FactSet


June 25 Demonstration of FIBO and our derivatives ontology to the CFTC in Washington DC


June 21 European Commission Semantic Interoperability Conference focussing on the sharing of government data semantics across the European Union.

June 19 Three presentations at SIFMATECH in NYC


June 14 Met with the National Science Foundation on the application of FIBO to systemic risk in Gaithersburg MD


June 4-5 Hosted the inaugural FIBO Technical Summit in San Francisco, CA


May 30 Participated in the Conference on Financial Stability jointly hosted by the OFR and Federal Reserve Bank of Cleveland in Washington DC


May 23 Facilitated roundtable sponsored by EDMC member Thomson Reuters in NYC


May 21 Presentation on EDM best practices at the Financial Information Summit in NYC


May 9 Briefing for EDMC members at CIBO’s offices in Toronto


May 8 Facilitated roundtable sponsored by EDMC member Morgan Franklin on the intersection of risk and data management in NYC


April 30 Participated in CFTC Technical Advisory Committee meeting on data alignment from multiple SDRs in Washington DC


April 11 Participant in webinar with EDM Council member Hexaware on the ROI approach to investments in reporting and data management


April 4 Presentation by Michael Atkin on the composite picture of data management at FIMA 2013


April 2 EDM Council member briefing in Boston


March 25 Visit to the Office of the Comptroller of the Currency to discuss evaluation criteria for compliance with the Basel Risk Data Aggregation Principles using the DMM as a core framework


March 21 EDM Council member briefing in London


March 20 CDO Roundtable meeting in London 


March 19 Presentation to the staff at the Office of Financial Research (OFR) and the Commodity Futures Trading Commission (CFTC) on our operational ontology of FIBO demonstrating the intersection of interest rate swaps, credit default swaps and legal entities 


March 7 Meeting of the Office of Financial Research’s Financial Research Advisory Committee Data & Technology Subcommittee in NYC


March 5 CDO Roundtable meeting in NYC


February 21 EDM Council member briefing in NYC 


February 21 Moderator of the Data Management Executive Forum session hosted by EDM Council member iGATE 


February 8  Discussions with the new CMMI Institute about the process for development and finalization of the certification methodology for the DMM


February 7 Initial discussions on the creation of a regional and super-regional banking constituency within the EDM Council 


January 31 Presentation by the EDM Council to the Open Financial Data Group on instrument identification 


January 29 OFR/FRAC Data & Technology Subcommittee meeting.  Focus was on data infrastructure requirements and reporting efficiency


January 24 OFR/FRAC Risk Management Subcommittee meeting.  Focus was on assessment methodologies and stress testing 


January 22 Data Management Maturity Model pilot for Microsoft Corporation.  This pilot was on data quality and data management goals – and provided important validation of the assessment methodology for the DMM

January 21 OFR/FRAC Research Subcommittee meeting.  Focus was on identification of the areas of macroprudential concern for consideration by the OFR 

2012

December 6  OFR Systemic Risk Conference on Assessing Financial Intermediation: Measurement & Analysis.  This was the second OFR conference on financial stability 

December 5: OFR/Financial Research Advisory Committee (FRAC) Inaugural meeting in Washington DC.  FRAC serves as a mechanism to advise the Office of Financial Research on data issues and analytical approaches related to systemic risk.  The Council chairs the Data & Technology Subcommittee

November 28 Assessing Data Management Capabilities Using the DMM Framework.  The focus was on lessons learned from the detailed self-assessment performed by Element-22 of the DTCC

November 28 Weekly subject matter expert review session of FIBO-Business Entities.  This is a repeating event and is open to all EDM Council members

November 12 Formal engagement of Dennis Wisnosky (former Chief Technology Officer and Chief Architect of the US Department of Defense Business Mission Area) to provide strategy and operational guidance over the development and implementation pathway for the Financial Industry Business Ontology (FIBO)

November 9 Presentation to executive management of Fidelity on regulatory activities and the Data Management Maturity Model

October 24 Initiation of weekly SME review sessions on the legal and contractual structure of FIBO for Business Entities.  See calendar for schedule of FIBO-BE review sessions

October 17-18 Member meetings in London and presentation to the Bank of England on how FIBO can support financial stability analytical objectives

October 15 Meeting in Basel Switzerland to support the Financial Stability Board’s objectives of establishing the underlying governance for the global LEI Utility.  The Council also presented FIBO-BE to the FSB participants to ensure that the ontology remains aligned with the LEI initiative

October 10 Initiation of member review on the legal basis of FIBO for Business Entities.  This review is taking place weekly and is open to all EDM Council members.  This is a key part of our validation process to ensure that the structure of FIBO is grounded in formal legal concepts

October 3 Launch of new working group to develop standard metrics for evaluating the maturity of business metadata.  The new initiative will be based on the DMM and integrated into the core content

September 28 Meeting to align the CMMI process approach with the Data Management Maturity core content.  The resulting hybrid model allows us to retain the business value of the DMM while taking advantage of the audit capabilities of CMMI

September 25-26 Working meeting in Frankfurt to align FIBO with ISO 20022.  The goal is adoption of a common semantics layer for ISO messaging standards

September 17-21 Presentations on the activities of the EDM Council to financial institutions and vendors in San Diego, Los Angeles and San Francisco.  Included was a keynote presentation on the DMM and data quality at the Wells Fargo Wholesale Data Governance Summit

September 13 Presentation of FIBO to the Consumer Financial Protection Bureau and discussion of the status of mapping between FIBO for loans and the MISMO XML schema.  The goal is full alignment of content between regulators, the mortgage industry and FIBO

September 12 Participation in the Adaptive User Group and initiation of a new program to measure the maturity of metadata practices based on the structure of the DMM.  First meeting is scheduled for October 3

September 7 Council invited to present the Data Management Maturity Model approach to S&P Ratings Services who are adopting the DMM as mechanism for internal EDM self-assessment.  Executive summary of the DMM created for this presentation and is available to members on request

September 6 Initiation of Data Management Maturity (DMM) core model alignment process with the CMMI assessment methodology.  The working group is producing a prototype using the “data profiling” process area as the test case for DMM/CMMI integration

August 17 Presentation of FIBO and demonstration of the semantics POC for derivatives to the Federal Deposit Insurance Corporation (FDIC)

August 15 Initiation of the Financial Stability Board’s Private Sector Preparatory Group (PSPG) meetings. The FSB has created three working groups (governance, operations, and ownership/hierarchies) to evaluate and make recommendations to the FSB on LEI implementation. The Council is a participant in all three is a one of the co-coordinators for the workstream on ownership/hierarchies. The next meeting is October 15-16 in Basel

July 31 CMMI/DMM Alignment: Workshop in Pittsburgh with Carnegie Mellon on the steps required to align the core content of the DMM with the process methodology within CMMI. This marks the second critical stage of development toward the goal of DMM certification

July 25 Financial Stability Board Private Sector Preparatory Group meeting. This is start of the implementation phase of the legal entity identification initiative. The Council has been an active participant in the LEI project since its inception. We serve on the Governance, Operations and Ownership/Hierarchy Reference Data Workstreams

July 19 Next Generation of Financial CyberInfrastructure: The Council was invited to attend and present at this 'by invitation only' workshop on systemic risk modeling sponsored by the National Science Foundation and hosted by the University of Maryland.  The goal was identification of risk-related research objectives for NSF funding

July 18 Brookings Institution. Initiated conversations on a Brookings study about the intersection of public policy and data management.  Brookings is interested in doing the research based on the value of the Financial Industry Business Ontology (FIBO)

July 18 US Regulatory Meetings: The Council met with representatives from the Federal Deposit Insurance Corporation (FDIC), the Commodity Futures Exchange Commission (CFTC) and the Office of Financial Research (OFR) on the use of The Financial Industry Business Ontology (FIBO) to meet regulatory compliance and analytical objectives

July 17 MIT Information Quality Symposium  The Council presented our Data Quality Initiative as a model of innovation in data quality.  This is the third year in a row that the Council has been invited to present at the Information Quality Symposium

July 16 Webinar. The Council was the featured presenter at an Informatica Webinar on LEI and the other activities related to the development of a standards-based infrastructure for financial regulatory reporting