Master Data Management – A Pilot Study
Student : Gouri Pradhan
Student ID : 42351502
Presentation Structure
Initial problem specification
Related work and background information
Approach and methodology to solve the problem
Project Overview
•
Master Data Management - A Pilot Study•
Carried out for CGSGAM•
A division of CBA•
Focus on Legal EntitiesMaster Data and Master Data Management (MDM)
• Key reference data within an enterprise
• Shared by different IT systems
Master Data
• A program undertaken to effectively manage a single accurate record of master data
Master Data
Management
(MDM)
This section covers…
Initial problem specification
Related work and background information
Approach and methodology to solve the problem
MDM Definition
•
MDM is a framework of processes and technologies
•
The aim is to create and maintain a reliable, sustainable,
accurate, and secure data environment
•
The data environment represents a “single version of truth”
•
It is used both intra- and inter-enterprise
•
across a diverse set of application systems,
•
across lines of business and user communities
DAMA-DMBOK Functional Framework for MDM
MDM Methodologies
MIKE 2.0 MDM Solution Offering
Analyze current business processes
Get ‘Legal Entity’ information
Understand links between business areas
Project Phases for Pilot MDM Project
Phase 1
Business Study and MDM Strategy Analysis Phase 2 Data Analysis and Data Modeling Phase 3 Implementation Plan Identify current data sources Conduct data quality analysis Propose Target Data Model for ‘Legal Entity’
Propose
Implementation Plan
Provide guidelines for further work
This section covers…
Initial problem specification
Related work and background information
Approach and methodology to solve the problem
What is CFSGAM?
•
Financial asset management business•
Manages diverse range of assets including equities, property securities, listed infrastructure•
Growth through mergers and acquisitions in many global markets•
It has range of diverse hardware platforms, applications suitesand in-house developed custom software
CFSGAM Investment Management Process
Research and Analysis Portfolio Management Order Management Investment Portfolio Management Investment Accounting ReportingRole of Legal Entities
•
CFSGAM researches companies to invest in their equities•
CFSGAM manages the investment portfolio for their clients•
Legal entities are primarily companies or parties that issue securities•
Legal entity has two roles in investment managementLegal Entity Issuers of financial securities Counterparty in a financial transaction
Key issues with Legal Entities
•
Different identifiers across different systems
•
Application specific definitions
•
External data sources use their own identifiers
•
Hierarchy of entities is not defined
•
No standard way of uniquely defining legal entity
ABCD Bank Ref ID:1234 Ref ID: X123 Identified by
MDM Strategy Analysis
Fo cu s o n Dat a Driv en Pr o ces s Driv en‘Data driven, Solution oriented’
• Focus on improving data quality of existing data
• Focus on achieving target data model to satisfy LEI standard adoption
Data Quality Analysis
Talend MDM Software used to carry out Data Profiling
• Analysis using current legal entities data extract
• Null values found in Name column, GICS Codes column, Country Code
• Duplicate records found
Analysis
Legal Entity Identifier (LEI) Standard
A global LEI standard is proposed because:
• Recommended by the Global Financial Management Association (GFMA)
• Single, universal standard identifier for legal entities
• Will consist of a unique 20-character alphanumeric code
Legal Entity Identifier Characteristics
The accurate and unambiguous identification of legal entities engaged in financial transactions is critically important for monitoring of systemic risk by regulators.
Structure of LEI Standard
The following six data elements will all form part of the minimum set of reference data attributes that will be required by the regulatory community on the launch of the LEI
Core Data Elements for LEI
Official name
Address of the headquarters
Address of the legal formation
Date of the first LEI assignment
Date of last update of the LEI
Proposed Data Model for ‘Legal Entity’
All the identifiers from different systems Identifiers
Legal and all other names Name
Registered Address Address
Contact Information, Company website information General Information
Trading information for listed companies Trading Information
Regulatory Status Regulatory Information
Hierarchical relationships including ultimate parent Hierarchy
Credit Analysis/Rating information about Issuer Credit Analysis
Func
tional
Ar
ea
s
MDM Implementation Plan
• Understand current data state • Define future data state requirements • Define scope and timelineThe phases of the proposed MDM implementation plan
Business Assessment and Strategy Definition Technology Assessment and Selection Blueprint Roadmap and Foundation Activities Design Increment Incremental Development, Testing, and Deployment • Define current state architecture • Define key functional requirements • Vendor evaluation and selection • Implement the data model • Perform end-to-end testing • Deploy into production environment and monitor • Develop logical and physical data models • Define reporting environment and dashboards • Adjust design based on the outcomes of reports • Define business rules
• Carry out data profiling and updates • Review data
quality and take corrective
This section covers…
Initial problem specification
Related work and background information
Approach and methodology to solve the problem
Conclusion – Project Achievements
Conducted business process analysis
Performed data quality analysis
Identified current issues with data
Studied requirements of LEI standard
