Posts by: Paul McInnis

Building the Business Case for Governance

Paul McInnis, Head of Enterprise Data Management, Data Management

When it comes to making the business case for data governance, Jim Stitt, Head of Data Management at RBC Global Asset Management, likens the exercise to measuring the ROI of keeping the home garage organized. Yes, there’s real value in doing so, but he asks, “How do you measure [the value of] the holiday decorations being where you expect them to be or the right tool is readily available?”

Stitt, participating in a recent webinar hosted by WatersTechnology and sponsored by Eagle, highlights one of the larger challenges when it comes to initiating a data governance strategy. While most executives recognize the necessity for clean, accurate and timely data—and, importantly, they acknowledge the role of a formalized and systematic strategy—making the case to senior leadership or gaining buy-in across the various business functions of a global enterprise can be a daunting task.

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Key Principles Serve as Cornerstone to Successful Data Governance

Paul McInnis, Head of Enterprise Data Management, Data Management

A recent survey conducted in collaboration between Eagle Investment Systems and WatersTechnology revealed that while industry participants are feeling the pressure to put in place formalized data governance policies, these efforts largely remain at an impasse. A number of challenges, be they cultural or related to available resources, stand in the way. Anecdotally, however, we’ve found that in many cases, large organizations often don’t know where to begin when it comes to drafting a data governance policy.

The survey and its accompanying white paper, “Command and control: Establishing a formal data governance strategy,” can be found here.

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Harmonizing Babel: Business Ontology Standards in Focus

Paul McInnis, Head of Enterprise Data Management, Data Management

Business Ontology Standards in FocusThe Wall Street Journal, in a headline six years ago, asked: “Are dictionaries becoming obsolete?” The article, to the chagrin of some traditionalists, implied that if the dictionary wasn’t yet obsolete, than the end would be approaching soon. Yet, in an era when even Scrabble saw fit to adulterate its official dictionary it with millennial slang — be it “lolz,” “lotsa,” or “ridic” — hope remains for the traditionalists, as best practices in data management are driving the adoption of thorough and comprehensive business glossaries. At this point, advocacy may be isolated to data scientists and CIOs, but make no mistake, appreciation and the demand for precision around ontology standards is growing as this uniformity, or lack thereof, is among the larger “gating” items for large-scale enterprise data management projects.

For the uninitiated, a business glossary is the definitive reference guide that establishes and cements a standard for business terms and relationships across an enterprise. In an era of ever-sprawling financial institutions, in which organizations stretch across regions, asset classes and cultures, a definitive business glossary is critical to engender a common understanding around what each term means for all employees and business partners, and in all cases.

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Standardizing Reference Data

Paul McInnis, Head of Enterprise Data Management, Data Management

The financial crisis and the resulting changes to the regulatory environment have focused the attention of investment firms on data management. Greater demands for reporting and risk management have made organizations recognize the necessity for clean and accurate data. At the same time, to help defray the rising cost of compliance, they are increasingly seeking greater efficiency and cost-savings.

As a result, we are witnessing a fundamental change in how investment firms view and consume reference data. It’s an area I will be discussing in some detail as part of a panel discussion at the North American Financial Information Summit taking place on May 20th.

Reference data offers little in the way of a competitive advantage, rather it’s a necessary requirement of doing business. Yet acquiring and integrating it is typically an ongoing and resource-intensive undertaking and many firms spend significant time post-trade repairing their security reference data to fulfill risk and reporting demands.
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Live from Engage: An Invitation to Engage with your data

Paul McInnis Director of Product Strategy, Data Management, Eagle Investment Systems

This morning at Engage 2015, I invited the audience to engage with Eagle and engage with their data. Data management has always been at the heart of Eagle’s offerings and we are committed to continuing to innovate and pioneer our solution so that our clients can truly engage with their data and find ways to unlock its transformative potential.

We kicked off the session with a viewing of this video, which outlines the power of Eagle’s data management solution and our vision of the data management continuum and just how far that can extend for our clients.

Engage 2015 Coverage: Quest for IBOR Leads to Scottsdale!

In February, the world was introduced to Commodore IBOR – the enterprising adventurer in search of the “Golden” Investment Book of Record. Hopefully he made it to Scottsdale this week, because our afternoon session at Engage 2015 covered not only the key drivers for establishing an IBOR, but also how an IBOR can be leveraged to extend beyond its original deliverables – ie, the ROI that adds that golden shine to investment firms’ IBOR projects.

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Spotlight on Engage – Locking in on IBOR’s Moving Target

Paul McInnis, Director of Product Strategy, Data Management, Eagle Investment Systems

The concept of an Investment Book of Record, or an IBOR, has been around for years, as Eagle has been offering IBOR solutions as part of our Data Management platform for over a decade now. More recently, however, we have witnessed a renewed buzz around the concept, which has created some unwanted side effects. While this added attention has motivated investment firms to explore how an IBOR might apply to their business, the very definition of what an IBOR is has become convoluted. Ironically, this industry buzz has led to more confusion and less understanding around the acute business needs that demand an IBOR solution.
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Taking Control of Your Data

Paul McInnis, Data Management Product Manager, Eagle Investment Systems

I recently took part in a panel debate hosted by Buy-Side Technology magazine that centered on “Different approaches to improving data management”.  Much of the debate revolved around what are often seen as competing tensions around enabling quick access to data while maintaining a high quality and level of security around it, against a backdrop of rapid growth in the volume of data available to firms.

The discussion highlighted how dramatically the approaches taken by firms can vary.  One of the client panelists spoke of the benefits of using multiple vendors across several solutions to avoid lapses in the quality of their data, while another provided direct SQL access to their end-users.  Regardless of what approach firms take, they need the ability to manage the entitlement of data because only then can they control it.  It’s also critical to have the business directly involved in their data governance framework.  When things go wrong, because they always will at some point, you need to know who the right people are to make the decisions to remediate the data and get it back out to the organization.

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