Working To Reconcile Data Management Standards

Firms addressing data systems customized based on jurisdictional rules, along with varied business practices

allie-harris
Allie Harris, director of data governance and analytics, Bank of Montreal

Many executives and even regulators will tell you that data operations in the financial services industry are bound to always have multiple standards, which they will use for identifiers, messaging and regulatory reporting, among others. Managing multiple standards, particularly for overall data management within a firm, and for compliance with specific regulations such as the BCBS 239 risk data aggregation principles, has become an unavoidable necessity.

This requires finding the common

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