The EDM Council freely provides access to all published resources from this website for member firms and firms interested in future membership. Please register to get a web access ID and password.

Resources & Documents >> All EDM Council articles, presentations, and working documents are posted here in reverse chronological order. This is the central repository for all EDMC content.  February 2010 Presentation Latest presentation to brief EDM Council members on activities associated with data management. Heavy emphasis on regulatory activities in the US and Europe. Document Testimony of Federal Reserve Board Governor Daniel K. Tarullo before the U.S. Senate Banking Committee on equipping financial regulators with the tools necessary to monitor systemic risk. Letters Letter from six Nobel Laureates to Senators Dodd and Shelby of the Senate Banking Committee in support of the National Institute of Finance Act of 2010 Document Senate Bill on Data is Introduced. Senator Jack Reed formally introduced S.3005 – a bill to create the "National Institute of Finance". A copy of the bill and the letter of submission are posted. Document EDM Council Update presented to the ISITC forum  January 2010 Document Smart Regulation: Is it Possible ? Aite Group report on the pending changes in the legislative process Document DMM Core Outline This is an extended version of the DMM outline. It provides a detailed summary of the components of EDM that need to be measured and assessed by maturity level. Agreement on definition and scope are pre-requisites for formal measurement and evaluation. Document FSTC Article Article by Michael Atkin on the data requirements for systemic risk. Scheduled to appear in the Financial Services Technology Consortia's magazine "The Innovator" Document NAS Workshop Report Final report from the National Academy of Sciences Workshop on the technical and data capabilities needed for systemic risk regulation held November 3, 2009 on the request of Senator Jack Reed Document DMM Base Model This is an extended version of the DMM outline. It provides a detailed summary of the components of EDM that need to be measured and assessed by maturity level. Agreement on definition and scope are pre-requisites for formal measurement and evaluation.  December 2009 Document End of Year Report Status report on the issues and activities that make up the agenda of the EDM Council (including a summary of regulatory activities, systemic risk, supply chain management, standards, source tagging POC, semantics repository, entity identification, data management maturity modeling). Document What's In / Out for 2010 Our summary of the status of EDM as we conclude 2009 and prepare for 2010 Document EDM Council Update presented to the ISITC forum  November 2009 Video Standardisation Panel & Debate at FIMA 2009 Reference Data Review Presentation EDM Council Briefing Presentation Updated version of the slides we've been using to brief our members on the status of activities Working Report Review Schedule (Phase III)  September 2009 Report Before Dealing With Systemic Risk, How About Getting Data on It? Publisher: Securities Industry News Report The Utility Track Publisher: Inside Reference Data Report Learning from Past Mistakes Publisher: Inside Reference Data A light hearted look: Is Information Management Just Hype? The ability to manage data effectively is a desire, need, request or demand each of us is dealing with today. In the end, is this just the new hype, or a true business need we have the obligation to address? A light hearted look: Is Data Quality Just a Fairy Tale? We hear stories of Information Management strategies and issues in other departments, divisions, organizations, and industries. But are those just fairy tales? Is there truth in these tales, is there a connection to us, or is it all make-believe?  August 2009 Report: US NIF and ECB's Reference Data Utility Need Clarity and Strong Leadership, Says JWG-IT's Di Giammarino publisher: A-Team Insight Report: Early Warning Market System Gains Steam In Wash, Wall St by: Marshall Eckblad publisher: The Wall Street Journal Report: New Regulatory Body Promoted to Standardize Financial Data publisher: Financial Advisor Report: Data Management Maturity Positioning Document Brief summary of goals and objectives of the Data Management Maturity Model (DMM) being managed in conjunction with the Software Engineering Institute of Carnegie Mellon University Report: Semantics Repository Report Summary of current status and immediate next steps for the Semantic Repository Survey: Compensation survey for data management and financial information professionals An industry-wide compensation survey for North America and Europe produced by LakeFront Data  July 2009 Paper: Reengineering Financial Services. How data tagging has made a muddle of financial transparency - and what CEOs can do about it by: Allan D Grody publisher: CEO Magazine Paper: The Data Dilemma by: Clive Davidson publisher: Incisive Media - Risk Magazine Paper: In Search Of The Gold Standard by: Clive Davidson publisher: Incisive Media - Risk Magazine Paper: NIF Executive Summary Position paper on the rationale and objectives behind our collaborative efforts to create a National Institute of Finance Presentation: EDM Council Activity Summary This is a modified presentation by staff to the EDM Council's Board of Directors. It provides a summary of the current state of activity and initiatives. Presentation: Data Management Maturity Model Illustration These slides are an illustration of the type of output that will be created from the Council’s collaboration with Carnegie Mellon on the project to model the maturity of data management. Click here to view the overview of this initiative. Click here to view the press release on the EDM/CMU collaboration Paper: Data Management Maturity Project Overview The EDM Council has formed a collaborative relationship with the Software Engineering Institute of Carnegie Mellon University. The goal is to define the specific business processes required for effective EDM, measured against best practice and quantified by level of maturity.  June 2009 Article: In Search Of The Gold Standard A Risk Magazine article on the importance of data in enterprise risk management Article: Thinking Small A Financial-i article highlighting the need for enhanced data management Paper: Data Requirements for Financial Oversight Paper written by the EDM Council outlining the data requirements for systemic oversight  May 2009 Report: Semantics Repository Phase II schedule for subject matter expert reviews.  April 2009 Report: Data Management : Thinking Small by: David Longworth publisher: financial-i Article: Institutional Investor EDM – The Road Map Ahead Article written by Michael Atkin for Institutional Investor, defining the pathway forward for data management Report: ECB Slides from FIMA Securities Reference Data Utility Presentation by Francis Gross, ECB, given at FIMA outlining the concept for a Reference Data Utility Report: Progress Report on Business Semantics Document outlining the current status of the EDM Council’s Semantics Repository including an updated SME review schedule and some technical considerations. Report: Progress Report on the activities of the EDM Council Status report on the activities and projects of the EDM Council Report: SIFMA Corporate Actions Keynote presentation by Michael Atkin to the SIFMA Corporate Actions Division on the status of data management, the lessons learned from recent activities and issues on the immediate radar for the EDM community.  March 2009 Presentation: TSAM Presentation Managing Risk and Promoting Transparency in Turbulent Times Keynote presentation by Michael Atkin to TSAM on the need to 'Get the Data Foundation Right' (Text version here) Report: FIMA NYC EDM – The Road Map Ahead Keynote speech by Michael Atkin given at FIMA, identifying what we have learned and how we need to prepare for the future. Report: When "Who's Who" Is Not Enough: Counterparty Data in the Spotlight A presentation given by Martijn Groot, Asset Control. Report: Report to Members Status report on the activities and projects of the EDM Council.  February 2009 Presentation: Data Foundation Paper Data Foundation Paper provided to global regulators to introduce the concepts for developing greater oversight of data content infrastructure Presentation: Business Entity Identification Implementation Specification Joint Research between EDM Council and Swift to validate the requirements for a BEI Presentation: The Need for Semantics Repositories Presentation by Michael Atkin to the IBM Data Governance Council on the Future of Risk Measurement and Reporting Presentation: The Democratization of Business Intelligence Strategy Paper explaining what financial institutions can do to address their information availability challenges. Presentation: Data Variance Metrics The EDM Council and IBM have completed our second data quality pilot. 8,500 fixed income instruments and 20 core data attributes matched among participants. This presentation provides the highlights of our findings. For more information, please contact David Gertler at IBM (p) 917-750-8843 (e) dgertler@us.ibm.com  January 2009 Presentation: Data Maturity White Paper EDM Council member Lakefront Data Ventures has produced a paper on data management maturity. They are part of the Council’s working group on DMM. The Council is grateful to LDV for being willing to contribute their work for the benefit of our membership and industry at large. Presentation: Enabling Improved Regulation and Lowering Systemic Risk Presentation used in recent discussions with the European Central Bank, BaFin and the Commission of European Securities Regulators on the critical importance of standard attribute tags and business entity identifiers. Article: Data Maturity – Basic Levels, Categories and Processes The Council has defined five levels of data maturity (initial, reactive, defined, managed, optimized) and outlined the characteristics of each, as well as our view of the core data management categories and associated business processes needed to effectively manage data as an asset. We will expand each of these business processes as raw material for our data management maturity model initiative.  December 2008 Article: The Quest for Meaning in Financial Systems An article written by Mike Bennett, Hypercube, introducing Business Semantics Article: The EDM Council Semantics Repository The second of a series of articles written by Mike Bennett, Hypercube, defining the EDM Councils practical solution to the problem of ‘Meaning’ in Business Semantics.  November 2008 Presentation: FSA Presentation on Data Risk Slides used as guideline for discussion with the FSA Presentation: EDM and the Road Map Ahead Text of presentation given by Mike Atkin at the FIMA 2008 conference in London  October 2008 Presentation: SEC Presentation on Data Risk Slides used as guideline for discussion with the SEC Office of Risk Assessment Report: Anatomy of Data Management A draft Maturity Model discussion document aggregating the content for any project development process  September 2008 Repository: Semantics Repository EDM Council's repository for all terms, definitions and business relationships. The repository is designed as the mechanism for industry alignment. Presentation: Data Policy and the Secure Enterprise presentation by Will Gibson at the Institutional Investor Conference on Data Management highlighting the importance of establishing and implementing a comprehensive data policy within financial institutions Article: EDM Council General Meeting EDM Council General Meeting, NYC, September 10 2008  August 2008 Article: Operational Risk and the Importance of Accurate Business Entity Identification An article written by Michael Atkin for Vision 2010, SIBOS edition.  July 2008 Report: BEI and Operational Risk Presentation by EDM Council on the relationship between BEI and operational risk for the FIMA Entity Data Management Conference in NYC. Report: The Pulse of Data Management EDM Council report based on interviews with the heads of data management from 20 global financial institutions on the state of enterprise data management and its relationship to current operational practices  June 2008 Presentation: EDM Council General Meeting EDM Council General Meeting, London, June 25 2008 Article: Shifting Data from Task to Strategic Priority Excerpts from roundtable discussion hosted by Windows in Financial Services and moderated by EDM Council  May 2008 Presentation: Performance Metrics Pilot Overview of the EDM Council pilot proposal for measuring the impact of faulty data on business applications Presentation: EDM Council General Meeting EDM Council General Meeting, NYC, May 21 2008 Document: Semantics Repository Overview Semantics Repository Overview of the EDM Council’s repository project to standardize reference data business terms and definitions. Report: Downstream Integration Outline This outline is a collection of the issues identified by EDM Council members on the critical subject of downstream integration. Presentation: SIFMA Operations Conference EDM Council presentation on identification of instruments, entities and data attributes. Report: Metrics Report on Performance Implications Report on the status of our metrics initiative designed to measure the business implications of faulty data on various calculations and derived fields. Report: Business Entity Identification Research Result of primary research by the EDM Council and BearingPoint on the business justification case for an international business entity identifier Working Document: Data Attribute Severity Summary of impact of data attributes to business and operating functions Working Document: List of Core Data Attributes These slides contain a list of the 143 critical data attributes as defined by the membership for primary business application processes.  April 2008 Presentation: Windows in Financial Services Discussion outline developed as basis for interactive roundtable at the Windows in Financial Services Forum Presentation: The New Age of Data Management Discussion outline developed as basis for interactive roundtable at the Lakefront Data Conference Presentation: Servicing the Profit Center Discussion outline developed as basis for interactive roundtable at the North American Financial Information Summit.  March 2008 Presentation: EDM Council General Meeting London, March 5 2008  February 2008 Article: Academic article on the measurement of operational risk exposure for Basel II Presentation: EDM Council General Meeting February 20 2008, New York. Working Document: Data Elements Template This is a revision of the working template designed to create a consolidated list of critical data elements for both security and business entity master files as well as capture the importance of each data element on essential business operations. Report: Metrics Workflow Analysis Report from the Metric Working Meeting (Jan 23) outlining adjustments to the data elements template and setting out the project timeline for this phase of the initiative.  January 2008 Document: 2008 Diary of events Scheduled diary of events and meetings planned throughout 2008, as agreed by the Board of Directors. The EDM Council reserves the right to revise these dates to accommodate unforeseen circumstances. Any updates will be posted to the EDM Council website. Presentation: EDM Council Meeting with SEC on Interactive Data The Council has been invited to brief the Securities & Exchange Commission on the status of legal entity identification and data attribute tagging. This is a copy of our presentation given on January 16, 2008. Working Document: Data Elements Template Working template designed to (1) to create/define a consolidated list of critical data elements (i.e. those that must be right including derived elements); and (2) to create a basic heat map classifying the implications of each data element on essential operations for trade execution, settlement processes, books and records, analysis and research, portfolio management, and risk/compliance.  December 2007 Presentation: What’s In / What’s Out for 2007 Here’s our end-of-year ‘holiday view’ of EDM. Rants, raves and alternative points of view are welcome. On behalf of all of us, please accept our wishes for a happy, healthy, safe and prosperous holiday season.  November 2007 Presentation: EDM Council Presentation to US Department of Defense Michael Atkin (EDM Council) and John Bottega (Citi) were invited to brief the US Department of Defense on the benefits and challenges of EDM. Click here to view the presentation given by Michael Atkin. Click here to view slide explanations for Michael Atkin's presentation. Click here to view the presentation given by John Bottega. Presentation: FIMA Data Management Conference EDM Council presentation on supply chain management Click here to view slide explanations (text)  October 2007 Presentation: S&P Data Management Forum Presentation given by Mike Atkin at the Standard & Poor’s data forum on the state of enterprise data management. Click here to view the text explaining the slide. Presentation: General Meeting 11 October, 2007 New York Presentation: What is COG An Overview of COG  September 2007 Report: EDM Business Metrics Critical Data Elements Result from metrics working meetings on process to define the most critical data elements throughout the trade lifecycle Presentation: General Meeting, 27 September, 2007 London, UK Case Study: M&G Investments This profile of M&G Investments emphasizes the importance of elevating data management as a core factor for investment modeling, trade processing and compliance management. Case Study: Barings Asset Management This profile of BAM examines the process for implementing an internal operational control framework to better manage fiduciary obligations and risk.  August 2007 Presentation: Presentation by Sean Taylor, UBS The reputational, operational and financial impact of poor quality data on the business process Report: Data Metrics Project Metrics Template  May 2007 Working Document: Metrics Working Group Meeting on May 22 2007 Brief synopsis of results of working meeting on business metrics Working Document: Data Quality Metrics Objectives Components of data quality for metrics initiative Presentation: Standards for Enterprise Data Management Presentation given at Standard & Poor’s Reference Data Management and Market Regulation Conference Presentation: Discussion Outline on Data Element Standards Discussion outline developed as the basis for an interactive panel facilitated by the Council at the Institutional Investor Enterprise Data Management Summit  April 2007 Presentation: Discussion Outline on EDM Maturity Cycle Discussion outline developed as the basis for an interactive panel facilitated by the Council at the SIFMA Operations Conference Working Document: Results of Data Quality Pilot This slide deck contains the results of the data quality metrics pilot (April 2007) Article: The Enterprise Data Management Scorecard Contributed article by the EDM Council for the Exchange Handbookon where the financial industry currently stands on the EDM continuum and where we are headed in our quest for data management nirvana. Presentation: Slides from London General Meeting (April 2007) Slides used to guide the interactive discussions during the EDMC General Meeting Working Document: Data Quality Metrics Pilot Results Review of the results of the EDMC metrics pilot on data quality. Working Document: EDM Score Card This document is designed to provide a common framework for evaluating the issues associated with EDM. The goal is to focus on the practical implications of these areas (ideally as consensus) and to define the "so what" in terms of what we can/should/are doing to fix these problems.  March 2007 Presentation: Assessing the State of Data Management within the Finance Industry Presentation by John Bottega, Chief Data Officer, Citigroup Markets & Banking delivered at the FIMA conference Case Study: Bank of Scotland (HBOS) This profile of the HBOS Counterparty, Obligor, Guarantor (COG) initiative illustrates how improving data quality to mitigate risk can be extended to yield enterprise-wide benefits. Regulatory Document: New Regulatory Guidelines for Basel II Proposed supervisory guidance for internal ratings-based systems for credit risk, advanced measurement approaches for operational risk, and the supervisory review process (Pillar 2) related to Basel II implementation. Public response is due May 29. The entire document is important reading. The most salient components for EDM are the OpRisk section (pages 9170 – 9188) – look particularly at page 9181 "Assessment of the bank’s business environment and internal control factors" Working Document: DTCC Muni Terms and Definitions – Industry Review Requested Spreadsheet of municipal bond terms and definitions used by DTCC as part of their new issue information dissemination service (NIISC). Council participants are asked to review the terms and definitions for accuracy, completeness and consistency with internal usage. Click here to view the DTCC spreadsheet. Click here to view the Council cover memo. Click here to view the DTCC vetting note. Presentation: Taking Data Management to the Next Level - by Michael Atkin at FIMA 2007 Presentation given at FIMA 2007 outlining current state of affairs in Data Management and EDM Council agenda Article: Data Quality is the Objective Contributed article by Michael Atkin to DM Review on data quality and its relationship to supply chain management  February 2007 Article: Business Information Challenge ... Transforming Data Into Knowledge Article to be published in "Financial World" magazine making the connection between EDM and risk management. Article: Looking Into the EDM Crystal Ball Contributed article written for Reference Data Review on current status and core trends related to EDM (January 07) White Paper: Delivering Business Value Through Enterprise Data Management White paper authored by BearingPoint on the drivers and challenges related to EDM implementation. Presentation: Slides from NYC General Meeting (Feb 15 2007) Slides used to guide the interactive roundtable during the EDMC General Meeting Case Study: Daiwa Securities SMBC This case study of the Daiwa Securities SMBC Europe represents a clear illustration of the classic business case for an infrastructure-driven implementation approach for EDM.  January 2007 Case Study: EDM Success Story – JPMorgan Chase This case study of the operational hub migration project at JPMorgan Chase addresses the organizational approach and program execution process associated with consolidation of data operations.  Click here to view the case. Case Study: EDM Success Story – Mellon Financial This case study is a profile of the vendor management program at Mellon Financial and focuses on the benefits of centralized contract management and the advantages of working with data vendors as long-term strategic partners. Working Document: Data Quality Metrics Test Result Spreadsheet containing the results of the data quality metrics test of fixed income instruments focusing on terms and conditions data elements and pulled from the operational database used for settlement.  December 2006 Case Study: Credit Suisse Fixed Income Index Analytics Documentation on how Credit Suisse automated the data analytics and calculation process for local currency / emerging market bonds. Report: EDM Council What"s In / What"s Out for 2007 First annual EDM Council list indicating where we are as an industry and our opinion of where we are going over the next 12 months.  November 2006 Presentation: Enterprise Data Management: We Get It - So What? Presentation given at FIMA 2006 in London Presentation: FIMA 2006 (London) – text Text of the presentation given by Michael Atkin (Managing Director) at FIMA 2006  October 2006 Working Document: MSRB Trade Confirmation Requirements Spreadsheet of MSRB rules (G-12, G-14, G-15) mapped to MDDL and DTCC Working Document: DTCC Reengineering Project Plan Summary of Council recommendation for adoption of standard terms and definitions as part of DTCC’s reengineering initiative. Report: Summary of Agenda and Initiatives Synopsis of current initiatives associated with our four primary work streams Presentation: Executive Advisory Board Presentation on the status of EDM Council activities Working Document: Data Quality POC: Data Elements for Trade Confirmation Spreadsheet of the data elements required for trade confirmation to be used as the basis for our data quality proof-of-concept  September 2006 Presentation: London General Meeting Supporting material for the EDMC General Meeting Presentation: NY General Meeting Supporting material for the EDMC General Meeting Working Document: Business Metrics Strategy Report Raw material from working group on performance and data quality metrics Working Document: Centralization Research Strategy Objectives and structure for research on data centralization approaches Working Document: Governance Research Strategy Objectives and structure for research on governance approaches Article: EDM Council: Update on Progress Contributed article to STP Magazine Presentation: From Reference Data to Enterprise Data Management Presentation by Michael Atkin to S&P reference data conference Report: Supply Chain Issues to Address Agenda for Supply Chain Working Group as basis for discussion and prioritization  August 2006 Report: Report to Members – Status of Activities Status report on EDM Council activities Working Document: Business Metric Worksheet Spreadsheet of key performance indicators developed as basis for metrics activity Report: Implementation Working Group Report Minutes of working group meeting Working Document: MiFID Summary Core template on information implications associated with Markets in Financial Information Services Directive Working Document: RegNMS Summary Core template on information implications associated with Regulation New Market Systems  July 2006 Article: Confessions of a Standards Advocate Contributed article to Inside Reference Data on standards and standards processes Report: Supply Chain Working Group Report Minutes of working group meeting Report: Business Case Working Group Report Minutes of working group meeting Presentation: EDM Council: Result of Research Presentation for EDMC General Meeting in Toronto Report: Implementation Working Group Report Minutes of working group meeting Article: Building a Sustainable Data Management Strategy Contributed article to Vision 2010 on EDM drivers Article: Enterprise Data Management: Trough of Disillusionment or Enlightened Maturity? Contributed article to WBR setting the context for FIMA 2006  June 2006 Report: Result to Members – Status of Activities Results of industry interviews and surveys on Council agenda and priorities Working Document: Business Case on One Slide Summary of business drivers by category Presentation: Operational Risk & Reference Data Presentation by Allan Grody at Financial Management Association European Conference  May 2006 Article: Operational Risk and Reference Data: Exploring Costs, Capital Resources and Risk Mitigation Academic article by Allan Grody (NYU) on the relationship between data and risk mitigation Article: EDM Council – Insights from Year One Contributed article for GoldenSource Customer Newsletter Working Document: Current State of Industry Staff thoughts on EDM drivers and phases of development Working Document: Sustainable Business Circle Staff thoughts on relationship between EDM and internal business drivers Article: Global Clearing and Settlement: Final Monitoring Report Final G-30 report on clearing and settlement  April 2006 Working Document: Agenda Development/Issue Prioritization Survey EDMC survey of members on issues and priorities  March 2006 Presentation: How to Get Reference Data to the Top of the Senior Management Agenda Presentation by Michael Atkin at FIMA Report: General Meeting Results Minutes of general meeting in London Presentation: EDM Council General Meeting Presentation at General Meeting in London Article: Enterprise Data Management: Making the Transition from Why to How Contributed article to Waters Magazine on the rationale for EDM  February 2006 Article: Principia Verbum: Entering the Age of Reason in Data Management Contributed article to The Exchange Handbook on the drivers of EDM Working Document: What Financial Institutions Want Staff thoughts on the objectives of EDM from the customer perspective Report: General Meeting Results Minutes of general meeting in NYC Presentation: EDM Council Hypothesis and Business Plan Presentation by Michael Atkin at General Meeting in NYC Presentation: Business Case Working Group – Status of Research Presentation by David Gertler (IBM) at General Meeting in NYC Presentation: Implementation Working Group – Status of Progress Presentation by Ari Marcus (BearingPoint) at General Meeting in NYC  2005 Working Document: Business Case Research Template Initial research template used to focus business case/metrics efforts Presentation: Inaugural Advisory Meeting Presentation to initiate the EDM Council Working Document: The Case for Standards Staff thoughts on standards requirements and current status

© 2010 EDM Council, All Rights Reserved