The proper management of financial data underpinning business processes and regulatory reporting is receiving increased management attention.
Managing prices and curves for risk and valuation is a universal financial services challenge, and robust, timely data management is of greater significance than ever before thanks to regulatory demands.
These demands have shifted industry focus to greater accuracy, comprehensive control, and cost-effective management of reference data, such as terms and conditions. Many organisations have therefore gained executive sponsorship and committed to strategic data management initiatives.
Now beyond being business ‘nice to haves’, rapid turnaround in new instrument set-up and client approval processes and trustworthy internal data resources are critical, basic business necessities, alongside a tool-set capable of managing data flows and resolving issues quickly and thoroughly.
A data management function that automates data sourcing and supply processes and manages by exception is essential to solid risk management.