Since the spread of IT systems has made it a pre-requisite that auditors as well as management have the ability to examine high volumes of data and transaction in order to determine patterns and trends. In addition, the increasing need to continuously monitor and audit IT systems has created an imperative for the effective use of appropriate data mining tools.
While a variety of powerful tools are readily available today, the skills required to utilize such tools are not. Not only must the correct testing techniques be selected but the effective interpretation of outcomes presented by the software is essential in the drawing of appropriate conclusions based on the data analysis. This 6 webinar series, based on Richard Cascarino’s book “Data Analytics for Internal Auditors” covers these skills and techniques.
Webinar 5 Data Analytics Software 4/16/19
Excel and Data Analysis
ACL and Data Analysis
IDEA and Data Analysis
SAS and Data Analysis
The Innovator’s Journey: Insurance Sector InsightsState Street
On behalf of State Street, Longitude conducted a global survey of senior executives at investment
organizations during October and November 2014. We asked them to self-assess their confidence and
progress across six data capabilities, including infrastructure, insight, adaptability, compliance, talent and
governance. The 400 respondents were drawn from 11 countries and included insurance companies,
private and public pension funds, fund-of-funds, foundations, central banks, endowments, sovereign
wealth funds and supranationals. One-hundred insurance companies participated in the survey.
Banks brace for risk data aggregation and reportingMarkit
The world's largest banks face major challenges in implementing the Basel Committee's demanding new principles for risk data aggregation. These new principles could see banks spending much more on new governance in an effort to meet the January 2016 deadline.
Since the spread of IT systems has made it a pre-requisite that auditors as well as management have the ability to examine high volumes of data and transaction in order to determine patterns and trends. In addition, the increasing need to continuously monitor and audit IT systems has created an imperative for the effective use of appropriate data mining tools.
While a variety of powerful tools are readily available today, the skills required to utilize such tools are not. Not only must the correct testing techniques be selected but the effective interpretation of outcomes presented by the software is essential in the drawing of appropriate conclusions based on the data analysis. This 6 webinar series, based on Richard Cascarino’s book “Data Analytics for Internal Auditors” covers these skills and techniques.
Webinar 4 Analysis and Monitoring 4/2/19
Data analysis and Continuous Monitoring
Continuous Auditing
Financial Analysis
Since the spread of IT systems has made it a pre-requisite that auditors as well as management have the ability to examine high volumes of data and transaction in order to determine patterns and trends. In addition, the increasing need to continuously monitor and audit IT systems has created an imperative for the effective use of appropriate data mining tools.
While a variety of powerful tools are readily available today, the skills required to utilize such tools are not. Not only must the correct testing techniques be selected but the effective interpretation of outcomes presented by the software is essential in the drawing of appropriate conclusions based on the data analysis. This 6 webinar series, based on Richard Cascarino’s book “Data Analytics for Internal Auditors” covers these skills and techniques.
Webinar 5 Data Analytics Software 4/16/19
Excel and Data Analysis
ACL and Data Analysis
IDEA and Data Analysis
SAS and Data Analysis
The Innovator’s Journey: Insurance Sector InsightsState Street
On behalf of State Street, Longitude conducted a global survey of senior executives at investment
organizations during October and November 2014. We asked them to self-assess their confidence and
progress across six data capabilities, including infrastructure, insight, adaptability, compliance, talent and
governance. The 400 respondents were drawn from 11 countries and included insurance companies,
private and public pension funds, fund-of-funds, foundations, central banks, endowments, sovereign
wealth funds and supranationals. One-hundred insurance companies participated in the survey.
Banks brace for risk data aggregation and reportingMarkit
The world's largest banks face major challenges in implementing the Basel Committee's demanding new principles for risk data aggregation. These new principles could see banks spending much more on new governance in an effort to meet the January 2016 deadline.
Since the spread of IT systems has made it a pre-requisite that auditors as well as management have the ability to examine high volumes of data and transaction in order to determine patterns and trends. In addition, the increasing need to continuously monitor and audit IT systems has created an imperative for the effective use of appropriate data mining tools.
While a variety of powerful tools are readily available today, the skills required to utilize such tools are not. Not only must the correct testing techniques be selected but the effective interpretation of outcomes presented by the software is essential in the drawing of appropriate conclusions based on the data analysis. This 6 webinar series, based on Richard Cascarino’s book “Data Analytics for Internal Auditors” covers these skills and techniques.
Webinar 4 Analysis and Monitoring 4/2/19
Data analysis and Continuous Monitoring
Continuous Auditing
Financial Analysis
New Horizons for Official Institutions: Research FindingsState Street
These findings are based on fieldwork conducted during January 2014 by FT Remark. In association with State Street, FT Remark surveyed 62 senior executives at official institutions – defined as central banks, sovereign wealth funds and public pension reserve funds – to explore the opportunities and challenges they face today and in the future.
Get to grips with FRTB data and data management requirementsLeigh Hill
The Fundamental Review of the Trading Book (FRTB) sets out a revised market risk framework and proposals to improve capital requirements. Although the regulation’s compliance deadline is 18 months away and some details have yet to be finalised, financial institutions need to be preparing now as FRTB is complex, presents significant data management challenges and could have a considerable impact on trading desks.
Join the webinar to find out about:
-State of play on FRTB
-Key data management challenges
-Approaches to compliance
-Technology solutions
-Impact on trading desks
The Innovator’s Journey: Alternative Asset ManagersState Street
On behalf of State Street, Longitude conducted a global survey of senior executives at investment
organizations during October and November 2014. We asked them to self-assess their confidence and
progress across six data capabilities, including infrastructure, insight, adaptability, compliance, talent and
governance. The 400 respondents were drawn from 11 countries and included insurance companies,
private and public pension funds, fund-of-funds, foundations, central banks, endowments, sovereign
wealth funds and supranationals. Twenty-nine alternative asset management companies participated in
the survey.
The Innovator’s Journey: Asset Owners Insights State Street
On behalf of State Street, Longitude conducted a global survey of senior executives at investment
organizations during October and November 2014. We asked them to self-assess their confidence and
progress across six data capabilities, including infrastructure, insight, adaptability, compliance, talent and
governance. The 400 respondents were drawn from 11 countries and included insurance companies,
private and public pension funds, fund-of-funds, foundations, central banks, endowments, sovereign
wealth funds and supranationals. One hundred asset owners participated in the survey.
Cognitivo - Tackling the enterprise data quality challengeAlan Hsiao
Competing effectively in the digital age means being data-driven to make the right long term and short term decisions. However the quality of your decisions will be proportional to the quality of your facts. Data quality is the critical stable foundation for your organisation to transition to a data-driven and AI enabled organisation.
FUTURESTACK13: Nerd Life Balance from Nick Floyd, Senior Software Engineer at...New Relic
For years now people in technology have been part of some seriously amazing movements in the software industry. To reach these great heights of innovation developers have always accepted that sacrifices have to be made. Often times the unspoken mindset was that you work until the task is done or that more hours often meant more code (good or bad). The idea has traditionally been that if we focus on the tasks and work we will inevitably achieve our goals and everyone will be happy. Most of us can remember working some really long weeks and hitting the "goal" but not feeling very happy.
Here's a challenge for all developers who can relate to the above scenario: Go for work-life awesome not work life balance.
There is no such thing as "work-life balance" or at least the phrase implies something that cannot be; balance assumes equality on both sides. The fact is that work and life are not faucets we can turn off and walk away from, so instead of becoming frustrated at trying to compartmentalize we should try to make these aspects of our lives more congruent. Work should fit into our lives not go against it - more like velcro and less like sandpaper.
This talk will disprove some common developer work-life myths then work to equip you as a developer, manager and/or all around geek to be able solve you're own personal conundrum of how win at life and work, how to create amazing things no matter where you are and to be able to successfully do the things that make your inner nerd tick with your friends and family.
May 20, 2014 | AIM Financial Services Industry Event at Hotel le Royal in Lux...aimsoftware
AIM Software, the leading provider of data management business applications in Luxembourg, is proud to invite the experts and executives of the Luxembourgish asset servicing industry to its AIM Financial Services Industry Event – which will take place on the 20th of May 2014 at 17:00 at the Hotel Le Royal (Luxembourg). In this round table composed of executives and experts of the Luxembourgish financial services industry, you will learn how firms have managed to turn their data into a key differentiating capability.
After this round-table, we are happy to invite you to a wine tasting of international fine wines from In Vino Gildas accompanied by a flying dinner to network with your peers. In Vino Gildas has been awarded "Lauréat et Coup de coeur du public” (public's favorite) in the 2010 Luxembourg Commerce and Design contest.
Topics include:
• Will you be able to justify your valuations when the regulator comes calling?
• It's not just regulations. Servicing clients and risk are also driving the data requirements.
• Data Management in the business: a strategic differentiator
Speakers will include:
• Gerard Estrada Ventura - Head of International Operations at Andbank
• Jean-Marc Verdure - CIO at European Fund Administration
• Pierre Bauwens - Senior Manager | Strategy & Operations at Deloitte
• Nico Staes, Head of Section, CLEARSTREAM
• Olivier Kenji Mathurin - Head of AIM Research Lab at AIM Software
Participation is free of charge for financial institutions.
MORE INFORMATION:
http://www.aimsoftware.com/news/aim-event-beyond-the-regulatory-pressure-data-as-a-strategic-differentiator
Universal Standards for LEI and other Corporate Reference Data: Enabling risk...Paul Houle
Individual Records are supposed be updated yearly, but more than 25% of records have lapsed
LEI records must be updated sooner in response to corporate actions if the GLEIS is to be useful as golden copy reference data inside financial institutions
Needed: real-time, streaming analytics to monitor SIFI, trading and the buildup of systemic risk
LOUs publish records daily, which are concatenated by the LOUS: however, the data on organization types (Corporation, Fund, Trust, etc.), Geographic Regions, Business Registry Numbers, Hierarchy and other fields are often missing or inconsistently represented
Implementing Reference Dataand Corporate Actions in a Blockchain
Taming the regulatory tiger with jwg and smartlogicAnn Kelly
From CEOs to board members to operational managers, regulatory compliance is an ongoing concern. In a rapidly changing marketplace where complex regulations come from multiple regulatory bodies, the consequences of non-compliance can be costly to the enterprise in time, money and damage to their reputation.
JWG, a London think tank, has created RegDelta – a state-of-the-art regulatory change management platform - that allows individual stakeholders to quickly understand the impact of regulations and maintain a single source of truth for their regulatory obligations.
Hear Elliot Burgess, Head of Product and Client Services at JWG and Paul Gunstone, Sales Director at Smartlogic discuss the challenges organizations face identifying and complying with relevant regulations, JWG’s approach to taming the regulatory tiger with semantics and see a demo of the JWG RegDelta platform.
According to the fifth annual IDC Digital Universe study of 20111 the world's information is doubling every two years and in 2011 would reach 1.8 zettabytes. It then goes on to predict that by 2020 the world will generate 50 times more information with 75 times the number of «information containers».
That means an awful lot of additional hay to be added to the already mountainous stacks
James J Okarimia
Managing Partner
Aligning Finance, Risk and Data Analytics in Meeting the Requirements of Emerging Regulations
Banks must meet more (and more varied) regulations today than ever. The sheer scale and scope of banking regulations, including Dodd-Frank, Basel III and IFRS, pose challenges to all financial institutions, from the smallest bank to the largest financial services enterprise.
New Horizons for Official Institutions: Research FindingsState Street
These findings are based on fieldwork conducted during January 2014 by FT Remark. In association with State Street, FT Remark surveyed 62 senior executives at official institutions – defined as central banks, sovereign wealth funds and public pension reserve funds – to explore the opportunities and challenges they face today and in the future.
Get to grips with FRTB data and data management requirementsLeigh Hill
The Fundamental Review of the Trading Book (FRTB) sets out a revised market risk framework and proposals to improve capital requirements. Although the regulation’s compliance deadline is 18 months away and some details have yet to be finalised, financial institutions need to be preparing now as FRTB is complex, presents significant data management challenges and could have a considerable impact on trading desks.
Join the webinar to find out about:
-State of play on FRTB
-Key data management challenges
-Approaches to compliance
-Technology solutions
-Impact on trading desks
The Innovator’s Journey: Alternative Asset ManagersState Street
On behalf of State Street, Longitude conducted a global survey of senior executives at investment
organizations during October and November 2014. We asked them to self-assess their confidence and
progress across six data capabilities, including infrastructure, insight, adaptability, compliance, talent and
governance. The 400 respondents were drawn from 11 countries and included insurance companies,
private and public pension funds, fund-of-funds, foundations, central banks, endowments, sovereign
wealth funds and supranationals. Twenty-nine alternative asset management companies participated in
the survey.
The Innovator’s Journey: Asset Owners Insights State Street
On behalf of State Street, Longitude conducted a global survey of senior executives at investment
organizations during October and November 2014. We asked them to self-assess their confidence and
progress across six data capabilities, including infrastructure, insight, adaptability, compliance, talent and
governance. The 400 respondents were drawn from 11 countries and included insurance companies,
private and public pension funds, fund-of-funds, foundations, central banks, endowments, sovereign
wealth funds and supranationals. One hundred asset owners participated in the survey.
Cognitivo - Tackling the enterprise data quality challengeAlan Hsiao
Competing effectively in the digital age means being data-driven to make the right long term and short term decisions. However the quality of your decisions will be proportional to the quality of your facts. Data quality is the critical stable foundation for your organisation to transition to a data-driven and AI enabled organisation.
FUTURESTACK13: Nerd Life Balance from Nick Floyd, Senior Software Engineer at...New Relic
For years now people in technology have been part of some seriously amazing movements in the software industry. To reach these great heights of innovation developers have always accepted that sacrifices have to be made. Often times the unspoken mindset was that you work until the task is done or that more hours often meant more code (good or bad). The idea has traditionally been that if we focus on the tasks and work we will inevitably achieve our goals and everyone will be happy. Most of us can remember working some really long weeks and hitting the "goal" but not feeling very happy.
Here's a challenge for all developers who can relate to the above scenario: Go for work-life awesome not work life balance.
There is no such thing as "work-life balance" or at least the phrase implies something that cannot be; balance assumes equality on both sides. The fact is that work and life are not faucets we can turn off and walk away from, so instead of becoming frustrated at trying to compartmentalize we should try to make these aspects of our lives more congruent. Work should fit into our lives not go against it - more like velcro and less like sandpaper.
This talk will disprove some common developer work-life myths then work to equip you as a developer, manager and/or all around geek to be able solve you're own personal conundrum of how win at life and work, how to create amazing things no matter where you are and to be able to successfully do the things that make your inner nerd tick with your friends and family.
May 20, 2014 | AIM Financial Services Industry Event at Hotel le Royal in Lux...aimsoftware
AIM Software, the leading provider of data management business applications in Luxembourg, is proud to invite the experts and executives of the Luxembourgish asset servicing industry to its AIM Financial Services Industry Event – which will take place on the 20th of May 2014 at 17:00 at the Hotel Le Royal (Luxembourg). In this round table composed of executives and experts of the Luxembourgish financial services industry, you will learn how firms have managed to turn their data into a key differentiating capability.
After this round-table, we are happy to invite you to a wine tasting of international fine wines from In Vino Gildas accompanied by a flying dinner to network with your peers. In Vino Gildas has been awarded "Lauréat et Coup de coeur du public” (public's favorite) in the 2010 Luxembourg Commerce and Design contest.
Topics include:
• Will you be able to justify your valuations when the regulator comes calling?
• It's not just regulations. Servicing clients and risk are also driving the data requirements.
• Data Management in the business: a strategic differentiator
Speakers will include:
• Gerard Estrada Ventura - Head of International Operations at Andbank
• Jean-Marc Verdure - CIO at European Fund Administration
• Pierre Bauwens - Senior Manager | Strategy & Operations at Deloitte
• Nico Staes, Head of Section, CLEARSTREAM
• Olivier Kenji Mathurin - Head of AIM Research Lab at AIM Software
Participation is free of charge for financial institutions.
MORE INFORMATION:
http://www.aimsoftware.com/news/aim-event-beyond-the-regulatory-pressure-data-as-a-strategic-differentiator
Universal Standards for LEI and other Corporate Reference Data: Enabling risk...Paul Houle
Individual Records are supposed be updated yearly, but more than 25% of records have lapsed
LEI records must be updated sooner in response to corporate actions if the GLEIS is to be useful as golden copy reference data inside financial institutions
Needed: real-time, streaming analytics to monitor SIFI, trading and the buildup of systemic risk
LOUs publish records daily, which are concatenated by the LOUS: however, the data on organization types (Corporation, Fund, Trust, etc.), Geographic Regions, Business Registry Numbers, Hierarchy and other fields are often missing or inconsistently represented
Implementing Reference Dataand Corporate Actions in a Blockchain
Taming the regulatory tiger with jwg and smartlogicAnn Kelly
From CEOs to board members to operational managers, regulatory compliance is an ongoing concern. In a rapidly changing marketplace where complex regulations come from multiple regulatory bodies, the consequences of non-compliance can be costly to the enterprise in time, money and damage to their reputation.
JWG, a London think tank, has created RegDelta – a state-of-the-art regulatory change management platform - that allows individual stakeholders to quickly understand the impact of regulations and maintain a single source of truth for their regulatory obligations.
Hear Elliot Burgess, Head of Product and Client Services at JWG and Paul Gunstone, Sales Director at Smartlogic discuss the challenges organizations face identifying and complying with relevant regulations, JWG’s approach to taming the regulatory tiger with semantics and see a demo of the JWG RegDelta platform.
According to the fifth annual IDC Digital Universe study of 20111 the world's information is doubling every two years and in 2011 would reach 1.8 zettabytes. It then goes on to predict that by 2020 the world will generate 50 times more information with 75 times the number of «information containers».
That means an awful lot of additional hay to be added to the already mountainous stacks
James J Okarimia
Managing Partner
Aligning Finance, Risk and Data Analytics in Meeting the Requirements of Emerging Regulations
Banks must meet more (and more varied) regulations today than ever. The sheer scale and scope of banking regulations, including Dodd-Frank, Basel III and IFRS, pose challenges to all financial institutions, from the smallest bank to the largest financial services enterprise.
A Summary of Top 28 areas covered by EC Proposed Regulation for CRR, CRD IV and Basel III Regulatory Compliance and Implementation of the proposal: A publication by James Jeffrey Okarimia
Partner at RM associates: Partners in Enterprise Risk Managements
James J Okarimia
Managing Partner
Aligning Finance, Risk and Data Analytics in Meeting the Requirements of Emerging Regulations
Banks must meet more (and more varied) regulations today than ever. The sheer scale and scope of banking regulations, including Dodd-Frank, Basel III and IFRS, pose challenges to all financial institutions, from the smallest bank to the largest financial services enterprise.
James J Okarimia
Managing Partner
Aligning Finance, Risk and Data Analytics in Meeting the Requirements of Emerging Regulations
Banks must meet more (and more varied) regulations today than ever. The sheer scale and scope of banking regulations, including Dodd-Frank, Basel III and IFRS, pose challenges to all financial institutions, from the smallest bank to the largest financial services enterprise.
James J Okarimia
Managing Partner
Aligning Finance, Risk and Data Analytics in Meeting the Requirements of Emerging Regulations
Banks must meet more (and more varied) regulations today than ever. The sheer scale and scope of banking regulations, including Dodd-Frank, Basel III and IFRS, pose challenges to all financial institutions, from the smallest bank to the largest financial services enterprise.
DevOps & Blockchain: Powering Rapid Software Delivery in Regulated EnvironmentsCognizant
As IT organizations push forward with DevOps tools that automate application development and maintenance processes, they can lose sight of the key “who, what, where and when” variables that surround software releases, thus elevating the possibility of noncompliance with a host of regulatory mandates. By embracing blockchain, they can create a tamper-proof way of ensuring regulatory compliance while extending their embrace of IT service automation.
2. The need for Quality Hierarchal LEI
data, DTI?? and other emerging
Universal Financial data standards (UTI,
UPI, et al) are enabled thru advanced
contextual graph models plus
exploitation of Blockchain technological
disruptive capability
Ontology2
4/7/2016
Bill Freeman, Paul Houle , Allan Grody, patent
pending
3. Daily, GlEIF concatenates and archives the
data
Financial Stability
Board, CFTC,OFR,
Treasury
Reg Oversight
Committee, Basil,
EC, Global
regulators
Global Legal Entity
Identifier Foundation
Local Operating Units
LOUs register entities and
supply data files to GLEIF
established oversees
Global LEI System(GLEIS): A Work in
ProcessCurrent State Under Stress
• Individual Records are supposed to be updated at least yearly, but lapse rates for such updating is 25%
• (although they should LEI records must be updated sooner for corporate actions to make the GLEIS relevant for use
as golden copy for internal use by financial institutions
• Ultimately Needed : Real-time , streaming data analytics to monitor SIFI, trading , and the buildup of systemic risk
capital adequecy
• LOUs publish daily updates, which are consolidated daily by the GLEIF. Process and data variables at LOU’s
problematic (i.e. ___________, ____________, __________) Note;add examples please
• A complete snapshot of the data is kept every day, giving a valuable record of system history
Ontology2
4/7/2016
4. Current Challenges
Uncertain use and value of LEIs in recording transactions in Trade Repositories
(TRs)– tens of billions of transactions have been sent to TRs with no way of
validating LEI’s usefulness and quality
Different Internal Data and Communication Models at LOU’s will prohibit advanced
technology deployment if not standardized
LEIs as mechanism to aggregate data on a hierarchical relationship basis is being
put off to an uncertain outcome
The use of the GLEIS for aggregating financial transaction data for systemic risk
analysis, the key objective for regulators, is not yet accommodated in either the rule
making or the design of the GLEIS
The promise to financial industry members of straight-through-processing,
significant infrastructure cost reduction and risk mitigation is not being realized, nor
is it being identified in industry plans – near term or in the future
Little standard operating Procedure
Manual
Mutual Funds Ignored ( oretty much ) if not
Challenging to understand the quality of information, sources and audit
5. Reference Data As Seen By Financial IT
Trading software
Entity data Product data
Trade data
Analytics
Reporting
Risk management
Straight-through processing (risk elimination)
• Needs immediate reaction to changes
affecting entities
Analytics, Reporting (Risk management)
• Need to understand current state AND also
what reference data was relevant to the trade
at the time
Ontology2
4/7/2016
6. Current LEI System is Not Fast,Scalable or
Secure
Update Rates Suffer
5 days of daily updates requires 5 copies of the data
5 days of hourly updates requires 120 copies of the data (Note: assume you are showing a single
LOU example – how many hours of operation to get to the calculations shown? Needs better
example
… and hourly might not be fast enough to keep up with real-time trading and changing conditions
under stress situations
Ontology2
4/7/2016
7. Next-Generation LEI System
Global Legal Entity
Identifier Foundation
manages
Blockchain run collectively by
Local Operating Units
Blocks in chain represent changes to reference data published
by Local Operating Units in conjunction with their registrants
and their customers
We get best of both worlds:
Global update of reference data updated on a few second
timescale
AND
Complete historical record at time of trade (keep block id for
exact reference!)
Ontology2
4/7/2016
8. Ontology2 Technology Enhances
Blockchain
“Lambda Architecture” operation (“Superbatch” ) to process updates in
either a large batch (whole database) or in small batches (one block)
Perfect for Blockchain!
Ablility to accept or reject changes from blockchain to minimize the
effect that incorrect or malicious data from blockchain impacts
operations, reporting or analysis
Semantic capability to represent, reason, and work with multiple
representations of a situation (integrate blockchain-sourced reference data
with legacy and future systems)
Ontology2
4/7/2016
9. Index Cloud
New Index Construction Never Conflicts With Production
time
Old index (multiple copies for throughput & availability)
Source
data
Test
Clone
New Index
Manage and
recover resources
Ontology2
4/7/2016
10. Intelligent Index ( ML ) plus Real-Time Index
Build can be self correcting
Effortless and efficient scalability
Message
Queue
Bulk Data
time stamped
master data
small real-time
index
large
bulk
index
merger
RESULTS
Ontology2
4/7/2016
11. New approach to data management
A FRAMEWORK FOR DATA QUALITY
Multiple sources of
instance data
Facts
classifications
Reference data…
Examples
Test Data
Training Data
Requirements
Quality metrics
Ontology2
4/7/2016