Data Aggregation, Challenges and Solutions - Financial Services ...

Data Aggregation, Challenges
and Solutions
1

Why aggregation/replication
g • B/D centric or rep centric; which provides most
value
• 100 reps vs. 1000 reps‐same data, same needs,
same solutions?
• Home office record keeping
• Data quality
• Independence
2

Challenges
• Managing the process
– Data security
– Security testing
– What’s needed, what’s not
• Complex and changing record layouts
• Transaction code mapping
• Problem resolution
3

Challenges con’t
• Multiple sources
– DTCC, DST, DAZL, Pershing, Albridge
4

Outside Data Aggregation
g
• Life insurance
• Bank, mortgage, credit
5

Solutions
• Third party solutions
• Pro‐active versus reactive
• Rules based review
– Compliance
– Data Quality
6

Data Quality Rules Criteria:
Rule ID:
Internal or external:
Description of rule:
Interface type:
Basic:
Transaction type code:
Description of type code:
4)
Sponsor ID:
Symbol ID:
Persh/Schwab: Service level: (1-
Detailed:
Trade date __/__/__ to __/__/__
Security type:
Posting date __/__/__ to __/__/__ Other type:
Rep ID:
Client SSN:
Account #:
Buy/sell code:
Trade minimum: $ maximum: $
Price: _____ (GT, LT, EQ, NE)
Auto close:
(Y/N)
Start rule: __/__/__
End rule: __/__/__