Best  Prac*ces:    Reference  Data  Management  on  a  Global  Scale    Sridhar  Govindarajan  Director,  Investment  Bank  Reference  Data  Credit  Suisse    

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)    

To  realise  a  compeAAve  advantage  through  the  strategic  delivery  of  consistent,  accurate,  Amely  and  complete  reference  data,  front  to  back  across  the  Investment  Bank  

Improved  client  service  

Increased  business  intelligence  Prompt  and  accurate  responses  to  regulatory  requests  

Drive  bo;om-­‐line  growth  

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    

Automated,  real  Ame  data  distribuAon  from  Golden  Copy  to  all  consumers  

ProacAve  legacy  systems  decommissioning  

Mission  

Goals  

ObjecAves  

Reference  Data  Service:  Mission,  Goals  &  Objec*ves  

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

Business  Architecture  links  Business  Strategy  with  execuAon  (iteraAve  

process)  Business Architecture

Application Architecture

Infrastructure Architecture

Strategic Direction

The  Target  OperaAng  Model  is  comprised  of  six  components  which  are:              Business  Partners,              Data,          Process,              OrganizaAon  and  People,              ApplicaAons  and  Technology  and              Provider.  

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

1)  The Business Partner Model describes the immediate clients of the Organization

6)  The Provider Model defines the suppliers of the data to the Organization including where the data is sourced from

2)  The Data Model captures the semantic meaning of the data that is managed by the Organization

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

Business    Partner  

Process  

Target  Opera*ng  Model  

ApplicaAons    and  Technology  

Data  Provider  

OrganizaAon    and  People  

1  

3  

4  

6  

5  

2  

3)  The  Process  Model  describes    all    acAviAes  of  the  OrganizaAon  including  how  they  govern  the  data  that  they  manage.  

1   2   3   4  5   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  

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  

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

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..)

CDU  –  Target  OperaAng  Model  

Suppliers DMMS Framesoft

Algo Insight

Inputs Counterpart

y List Legal

Contracts

Processes OCR

Scanning, Correction, Matching, Capture

Contract Data

Validation, Enrichment,

Capture

Agreement Event

Management and

Exceptions

Agreement Master Data Governance

Outputs Mastered

Agreement Data

Customers CCRM

1) Customers / Business Partners Customers: §  CCRM

Business Partners: §  LCD (General Council) §  Collateral Management Unit §  Credit Risk Management §  Information Technology §  Reference Data Services

4) Organization and People  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)

6) Provider/Supplier  Legal Contracts from DMMS  Legacy Agreement data from Framesoft  Legacy Collateral data from Algo  Counterparty Reference Data from Insight

Clause Library

Other Ref Data

Quality/Perf. Reports

Vendors: §  Adsensa §  Orchestra

Networks §  United Lex

Adsensa  Prod

uct  S

uite   Wordsensa  Vision  

OCR  

CDU  –  ApplicaAon  Architecture  

XML  Load

 &  Transform

a*on

 Service  

Adsensa  Doc  Manipulator  

Counterparty  

Product  

DMMS  

Contract  Scans  &  Metadata  

Distrib

u*on

   

Bulk  Upload  Tool  

Auto  load  

User  Review  &  Correc*on  

Split,  Group,  Rename  

Orchestra  Networks  

Reference  Data  

CDU  DB  

 EBX  UI  

Comparison,  Enrichment,    Approvals,  Overrides,  Status    

Amber  Document  (PDF)  

 

FrameSo\   Legal  En*ty  

ALGO  

Clause  Matching  

Auto  Match  

User  Review  &  Correc*on  

Data  Capture  

Auto  Extract  

User  Review  &  Correc*on  

Rules  Manager  

Clause  Library  

Data  Extract  Rules  

User  Review  and  Update  

Contract  tx

t\XM

L  Do

cumen

t  

Other  

Reference  Data  Hub  

Mul*-­‐En

*ty  an

d  Am

endm

ents  

Expert  Dic*onary  

9  

CDU  –  Process  Model