DAY 3: Regulatory Compliance & Reference Data Future Outlook

Wednesday, March 21, 2012

8:15 Continental Breakfast & Opportunity To View The Solutions Zone

Continental Breakfast & Opportunity To View The Solutions Zone

8:45 Chairperson’s Opening Address

Chairperson’s Opening Address

9:00 Regulatory Update From The Trenches

Michael Atkin, Managing Director, EDM Council

The newly created Office of Financial Research has crafted legislation that will fundamentally change the practice of data management in the financial industry. As this legislation shifts from framework to implementation, financial institutions and solution/service providers will need to evolve. Join Mike Atkin as he’ll unveil the data management “State of Affairs” at FIMA 2012. He’ll discuss where we are, how we got here, and where we’re heading.

Michael Atkin

Managing Director, EDM Council

Mike has been a professional facilitator and financial information industry advocate for over 20 years. He is currently the Managing Director for the Enterprise Data Management Council – a business forum for financial institutions, data originators and vendors on the strategy and tactics of managing data as an enterprise-wide asset. Mike is an active participant in standards initiatives and has be [read more]

9:35 Data: New Challenges And Opportunities, Time To Think Different

Dale Richards, President, North America & Global Head, Data Management Solutions

Data is at the center of dramatic developments on many fronts. We are producing more / deeper information than ever before via new business models, social media, new asset classes, new analytics, cross-breeding “classes” of data, new markets and new entrants to the information business. These developments have the capacity to produce amazing insights yet they are offset against some of the most severe global financial / economic pressure ever experienced. While new technologies and methods are emerging, demands for cost re-engineering and regulatory compliance are clear. In order to address the opportunity and the challenges, it is time to “think different”.

Dale Richards

President, North America & Global Head, Data Management Solutions

Dale is a leader in the financial software and information industry with over 25 years of success in building and creating software and information companies. Prior to joining First Derivatives, he was CEO/Founder, LakeFront Data Ventures (LDV), a specialty boutique strategic data / information consultancy. Prior to LDV, he was with SunGard as Chief Data Officer & President, Enterp [read more]

10:10 Panel Discussion: Latest Report On “Legal Entity Identifier” Global Legislation

John Bottega, Chief Data Officer, Bank of America
Allie Grassie, Director, Policy and Compliance - Data Management Group, CIBC Wholesale Banking
Jennifer McColley, Director of Data Management, Babson Capital Management LLC
Scott J. Preiss, VP - CUSIP Global Services, S&P Capital IQ

What will be the impact of a common identifier? Will a utility be provided to allow you to pull out reference data? What is the impact of having data reside within a utility your firm cannot control? Should the burden of correct counterparty data be placed on the counterparty itself? The ECB has been at the forefront of introducing the concept of an international Reference Data Utility that could deliver high-quality, standardized reference data for regulators, policy-makers, the public and the industry. Find out the strategy behind the business model and organizational premises that could allow the task to be performed by a very small international operational entity. The goal is to organize the competitive processes of the data industry to ensure that reference data on a given item will be produced and maintained once only, thus eliminating the current cacophony of redundant, often contradictory data coming in through multiple “data dialects”.

Proposed LEI formats
Strategy for rules and LEI practices
LEI custody and governance
Managing LEI and working with the custodian
Managing counterparty data
Impact on your business and how you can prepare now

John Bottega

Chief Data Officer, Bank of America

Bank of America recently announced that John Bottega has joined the company as chief data officer. In this role, Mr. Bottega is responsible for the bank's data management strategy, policy and governance.

Allie Grassie

Director, Policy and Compliance - Data Management Group, CIBC Wholesale Banking

Alexis “Allie” Grassie is a Director with the Canadian Imperial Bank of Commerce (CIBC) in the newly created Data Management Group, a ground breaking department focused almost entirely on improving information quality and availability for the business, rather than focusing on the technical aspects of data.Her main responsibilities include creating policies, processes and standards that will create [read more]

Jennifer McColley

Director of Data Management, Babson Capital Management LLC

Scott J. Preiss

VP - CUSIP Global Services, S&P Capital IQ

10:45 Refreshment Break & Opportunity To View The Solutions Zone

Refreshment Break & Opportunity To View The Solutions Zone

11:15 Panel Discussion: An Honest ReflectionOn Outsourcing & Offshoring

David Goldberg, Managing Director & Head of Enterprise Client Data Management , BNY Mellon
Mark Januszka, Vice President of Data Management and Regional Head, HSBC
Diarmuid O'Donovan, Global Head of Data, UBS

With decreasing profit margins across industries the world over, one of the most widely practiced management strategies for a company in recent years is to adopt measures across the entire operational chain aimed at improving efficiency and achieving substantial cost reductions. Outsourcing your data management strategy and part of operations is one such strategic tool that has come to be accepted as one of the most effective means to achieve a high degree of operational efficiency in respect of activities that are not primary to an organization’s focus. By outsourcing some or all of your data management strategies to a third party, you can reduce your burden of managing the routine administrative activities to quite a great extent. The administrative expenses by data management outsourcing are reduced considerably, leaving top management free from the responsibility of managing its manpower in these departments. Does this sound convincing? Or would you rather be more cautious, and offshore your data management, thus keeping more control over business processes and standards?

Assessing your potential scope of outsourcing/offshoring needs
Building on the existing business process and infrastructure
Choosing outsourcing partners
Evaluating the advantages and disadvantages of offshoring
Maintaining control and top quality standards in both scenarios
Measuring savings, efficiencies and improvements achieved

David Goldberg

Managing Director & Head of Enterprise Client Data Management , BNY Mellon

Mark Januszka

Vice President of Data Management and Regional Head, HSBC

Mark has been in the financial community for over 20 years, supporting realtime market data services for several banks, with a few years on the vendor side as well. He recently added on the responsibility of managing instrument static data at HSBC in the US, heading the project to off-shore and centralize data maintenance tasks.

Diarmuid O'Donovan

Global Head of Data, UBS

11:50 Driving Data Excellence: A Journey to Establishing a Quality Culture

Anu George, Chief Quality Officer, Morningstar

Discover how to move beyond a quality program based on tools and technical skills to a true quality culture and mindset. This session highlights methods for building a quality culture throughout an organization and ways to drive process excellence.

The importance of a learning culture, empowerment, and a pull-driven approach in creating a culture that is receptive to quality
Harnessing support and drive from your company’s executive leadership team
Using the voice of your customers to direct you toward new levels of quality
Implementing LEAN and Six Sigma projects to drive process improvements
Establishing a system for process certification to help ensure initial process stability as well as continuous improvement over time
Developing internal metrics to manage and monitor quality levels

Anu George

Chief Quality Officer, Morningstar

Anu George is the Chief Quality Officer at Morningstar, Inc., a leading provider of independent investment research. Her responsibilities include providing a strategic direction to the quality initiatives at Morningstar and driving process excellence. George has more than 20 years of experience in reputable organizations such as Unilever, GE, and Morningstar. She has global experience through her [read more]

12:25 Measuring Systemic Risk – Are We Safer?

Francis Gross, Head of Division External Statistics, European Central Bank

Since the financial collapse we have seen the interdependencies between markets and private company’s regulatory oversight shift. Are we safer now? What remains in terms of associated risk? What can we look to in the future as signs that we’re progressing, rather than regressing?

Analysis of current financial systemic risk signs
Avoidance, diversification, hedging and insurance risk transfers
A European perspective
Clear signals that we’re getting this right

Francis Gross

Head of Division External Statistics, European Central Bank

Francis’ Division, located within the Directorate General Statistics of the ECB, is responsible for the external statistics of the euro area (balance of payments, international investment position, foreign direct investment, etc.) and coordinates their harmonisation across the EU. It also runs and further develops the Centralised Securities Database (CSDB), which holds reference and price data for [read more]

1:00 Lunch For All Attendees

Lunch For All Attendees

1:50 How FACTA Will Impact Your Business

Bob Bishop, Vice President, Brokerage, Credit & Client Services, CIBC

FATCA is not just another tax issue that affects aspects of compliance. Rather, it touches the whole value chain and requires completely new and extended information and reporting systems.
What is the “cost” of non-compliance? Thirty percent withholding will apply to all US source dividend and interest payments plus the gross sales proceeds resulting from the sale of an asset that gives rise to US source income if paid to either a “recalcitrant” account holder, “non-participating FFI” or an NFFE that has not disclosed its substantial US owners. In addition, USFIs and FFIs will also be liable for any tax that they failed to withhold, plus interest and potential penalties.

Understanding FATCA: Addressed will be the guidance documents, latest rulings, how it may impact you today and further down the line
Making strategic decisions: Financial intermediaries must decide whether US persons will be retained as clientele and whether US securities shall be included in the product range. If an institution says "yes" to these basic questions, then an agreement must be entered into with the IRS
Analyzing implementation guidance: The implementation guidance for FATCA and the actual specifics of the requirements must be continually analyzed and the operating model must be adapted accordingly so that organizations can prepare adequately for compliance
Implementing FATCA: Based on the experiences of the Qualified Intermediary (QI) regime and EU taxation, expectations are that financial institutions will need about 18 months to adapt their processes and systems to the new regulations. Ideally, systems will be ready three months before the new FATCA regulations apply (IT freeze) to ascertain smooth functioning

Bob Bishop

Vice President, Brokerage, Credit & Client Services, CIBC

2:25 Exploring Advanced Reference Data Quality Practices

Nick Helton, Vice President, Global Head of Reference Data, Northern Trust Co.

In this presentation, Nick digs deeper into data quality practices and sheds light on:

Utilizing automatic data validation tools that streamline data quality and agility
Understanding if your automatic audit-trail processes meet new regulatory needs?
Outlining innovative cost-saving solutions for cleaning your data

Nick Helton

Vice President, Global Head of Reference Data, Northern Trust Co.

Nick holds the position of Global Reference Data Manager for Northern Trust, which includes responsibility for worldwide, shared service, reference data operations and for working across the enterprise to assess and define the business, operational and technology data needs and solutions from both a short term and strategic perspective. His role also encompasses leading Northern's Data Governance [read more]

3:00 Standardization To Framework - Data Governance For All Sizes

Channpal Singh, Sr. Program Analyst, Oaktree Capital Management LLC

When we speak of Data Governance, common reference points are large “Enterprise Data Management” programs. However, more and more smaller organizations are beginning to take advantage of existing principles and applying them effectively. This presentation will present one such case study with Oaktree Capital Management. It will highlight some of the benefits and challenges not seen in larger programs, while highlighting how an organization can go from no program to a data governance strategy in a short period of time.

Data governance is everyone’s problem
History of data issues at Oaktree
Approach to solving data - From silo to enterprise
From approach to methodology – how the approach led to a framework
From method to governance – how the framework set the stage for a governance strategy
Lessons learned
Next steps – looking towards the future

Some take-away’s from the session will include:

Smaller organizations are more agile and are able to adapt faster to application of common data governance principles
Defining a culture of data change is the biggest obstacle at smaller organizations
Data governance is a rapidly evolving and ever-growing domain for smaller organizations

Channpal Singh

Sr. Program Analyst, Oaktree Capital Management LLC

Mr. Singh has over 14 years of comprehensive experience in innovative supervision of teams, data technologies, data application development/support, and data standardization improvement. Beginning his career “under the hood” as a software developer, Mr. Singh has worked in several industries including Consulting, Government, Mortgage Finance, and Financial services. He is currently leading an Ente [read more]

3:35 Final Refreshment Break & Final Opportunity To View The Solutions Zone

Final Refreshment Break & Final Opportunity To View The Solutions Zone

3:55 Dealing With Ever Changing Data Pricing Models

Olivier Rose, Head of Projects and International Data Management, Societe Generale Securities Services France

Establishing a baseline measurement for what data you need vs. what data you’re getting and placing a value on its accuracy
Evaluating if your data pricing model outdated?
Understanding the complexities of your data vendor’s data flow and how it impacts data distribution

Olivier Rose

Head of Projects and International Data Management, Societe Generale Securities Services France

Olivier Rose joined the Fund administration division of Société Générale Securities Services in 2004 as Head of the Market Data for SGSS' fund accounting software implementation project.In 2008, he was appointed Head of International Data Management and intervenes as a specialist for all projects requiring market data expertise.Previously Olivier has held various positions in market and insurance [read more]

4:30 End Of FIMA 2012

End Of FIMA 2012






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DAY 3: Regulatory Compliance & Reference Data Future Outlook

Wednesday, March 21, 2012

Michael Atkin Managing Director, EDM Council

Dale Richards President, North America & Global Head, Data Management Solutions

John Bottega Chief Data Officer, Bank of America

Allie Grassie Director, Policy and Compliance - Data Management Group, CIBC Wholesale Banking

Jennifer McColley Director of Data Management, Babson Capital Management LLC

Scott J. Preiss VP - CUSIP Global Services, S&P Capital IQ

David Goldberg Managing Director & Head of Enterprise Client Data Management , BNY Mellon

Mark Januszka Vice President of Data Management and Regional Head, HSBC

Diarmuid O'Donovan Global Head of Data, UBS

Anu George Chief Quality Officer, Morningstar

Francis Gross Head of Division External Statistics, European Central Bank

Bob Bishop Vice President, Brokerage, Credit & Client Services, CIBC

Nick Helton Vice President, Global Head of Reference Data, Northern Trust Co.