BLOG: Key Take-Aways from Data Management Summit London 2016

    by Olivier Kenji Mathurin, Head of Strategic Research at AIM Software

    In September and October 2016, AIM Software has been present at the most major reference & market data management industry events in the UK, the Netherlands in France. I had the chance to attend some of the sessions hosted during these events, I wanted to bring you back some of the key take-aways I believe worth sharing.

    Data Management Summit London 2016


    On October 6, 2016, the Data Management Summit 2016 gathered in London key thought leaders and practitioners in the data management and data governance space.

    It has become the key event in the reference data management industry in Europe, and the audience is growing every year – with this year over 320 participants - mainly Head of Data Management, Head of Data Governance, Head of Operations or Chief Data Officers from European buy-side and sell-side financial institutions. Many came to learn how other firms leverage central data management data governance programs.

    For the first time, the event hosted a dedicated Buy-Side stream with sessions focused on the specific data challenges of asset managers, asset owners and asset servicers – such as regulations, data operations  efficiency and data governance.

    To get a grasp on what was said during the panels, you can view all the tweets from event on Twitter #DMSLondon.

    Here are my 3 main take-aways - you can read more details below:

    1. Regulations continue to be a core theme in 2017
    2. Data Lineage: the real business case is outsourcing
    3. Data Governance is similar to Urban Planning, in many aspects

     

    Buy-Side Stream
    Buy-Side Stream at DMS London 2016

    Take Away #1: Regulations continue to be a core theme in 2017

    Among the regulation most quoted by the panelists across  various sessions: MiFID2 (with a granularity brought to a new level), SFGR, G20 derivative reform or CRS were mentioned as the top regulations impacting business or efforts.

    Favorite Quote:

    There are no golden sources, only silver sources to address across all key regulatory requirements” – Meredith Gibson (Meredith Gibson Advisory Services)

    Take Away #2 - Data Lineage: the real business case is outsourcing

    While many agree about what data lineage is – drawing the map of the water pipelines -, getting the business case of it is less clear: regulations (Basel III, MiFID)? data governance? requests from auditors / clients - as we see every day from our clients?

    Tom Dalglish of HSBC surprized everyone with a bold statement about what the business case for data lineage is really about:

    The real business case for data lineage is systematic suppression of systems & people, not regulations” - Tom Dalglish, HSBC


    Although very bullish, I found the line of argument quite interesting:

    • Data initiatives across silos such as data lineage struggle to get management’s attention.
    • On the other side, it is very difficult to cut or remove a system if the information regarding where data come from, how is the data controlled and transformed and where the data goes next.

    Hence, a very tangible business case for data lineage is that it can enable a firm to have a choice, and consider different options about how it wants to handle data management operations.

    Still, from the discussions we have with clients and partners, we see that the implementation of data lineage capabilities continues to be driven by more immediate needs around data quality and consistency, risk, and aggregation.

    Take Away #3: Data Governance is analog to Urban Planning

      The DMS hosted a great session from JR Lowry, Head of Global Exchange EMEA, of State Street, giving his feedback on State Street’S efforts. Amongst the take aways:

      • Data Governance is analog to Urban Planning.
      • No One model is right for all situations. Hiring a Chief Data Officer is not enough. Your data governance team is like a planning board. They know the organization, they are organizational navigators.
      • Shared infrastructure, logical understanding is essential for data governance. Otherwise you only band-aid bad processes all the time.

      On another panel focused on the Buy-Side and also on data governance, I loved the quote from Siobhan Doyle, of Schroders,

        "Data is rubbish because our people internally don't understand the data. People misuse the term and the data." - Siobhan Doyle, Head of Investment Operations at Schroders

        The quote in itself is no real news for the data folks that we are. But this has a very strong resonance when coming from a head of investment operations: this means that data governance challenges have definitely gained momentum, beyond the classic boundaries of data management.

        Conclusion

        This was definitely a great event that we are proud to sponsor, very well organized and orchestrated by A-Team Group.

        We are looking forward to the next edition in March 2017 - and we will be happy to meet you there.

        (Planning to be there next year? Contact us!)

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