An approach to management of reference Data
The approach can help keeping a consistent reference data repository management in the following ways :-
Defining Essence:The clear definitions of attribute is kept while receiving the data from other systems. This can be defined by the user by mapping the attributes received and attribute definition in the system. While receiving and maintaining the entities into [...]
Making Process Rules available Online!
Making Process Rules available Online!
For sourcing Counterparty information, Financial Analysts(FA’s) or Content teams refer approved Country Process rules to which the counterparty belongs. These Process rules are buried in bulky spreadsheets. Every time there is a change in the rule, relevant spreadsheets have to be modified and there is no audit history of changes. This [...]
Growing need for Reference Data Management
Some seven years back, reference data was considered at least priority in the data world. Mounting competition and growing legal & regulatory requirements turned Reference Data Management into high priority for firms. Firms have started recognizing the benefits of accurate, update-to-date and easy accessible reference date to facilitate their business requirements and deliver best output [...]
Reference Data Management: Is it still a regulated entity or public sector entity
Entity type is a key element used by rating agencies and internal rating teams. Incorrect classification of entity type and subtype could lead to incorrect rating which can lead to incorrect decision making.