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. 1. Best  Prac*ces:     Reference  Data  Management  on  a   Global  Scale     Sridhar  Govindarajan   Director,  Investment  Bank  Reference  Data   Credit  Suisse    
  2. 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. 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. 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. 5. Strategic Direction Business Architecture Application Architecture Infrastructure Architecture Business  Architecture  links  Business   Strategy  with  execuAon  (iteraAve   process)  
  6. 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. 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. 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. 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. 10. CDU  –  Process  Model