Council in Action
2013
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
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