REGULATORY COMPLIANCE TODAY, THE STUFF WE CAN ALL LEARN

Transcription

1 REGULATORY COMPLIANCE TODAY, THE STUFF WE CAN ALL LEARN Chris Atkinson, Solutions Architect - Financial Services, MarkLogic

2 NOT THIS!

3 A SIMPLE ASK FROM OUR BUSINESS LEADERS Deliver a complete, accurate, timely view of our organisation's data. PLEASE DON T BREAK THE BUSINESS DOING IT! SLIDE: 3

4 LOOK TO THE EXPERTS SLIDE: 4

5 Why Financial Services? 7 Years of tightening regulation Aggregation of information across all operations Near-time & monitoring demands Accelerating change Data quality focus External validation WE ARE ALL MOVING TOWARDS THE DATA DRIVEN BUSNESS WITHIN THE DIGITAL WORLD SLIDE: 5

6 How much do we have in common? NON-FINANCIALS 360 O BUSINESS VIEW 360 O CUSTOMER VIEW FINANCIALS 360 O BUSINESS VIEW 360 O CUSTOMER VIEW OPERATIONAL EXCELLENCE INCREASED INSIGHT REGULATORY SATISFACTION OPERATIONAL EXCELLENCE INCREASED INSIGHT REGULATORY SATISFACTION SLIDE: 6

7 TARGET OUTCOMES: THE ASK TIMELY FLEXIBLE ACCURATE COMPLETE SLIDE: 7

8 COMPLETE SLIDE: 8

9 Completeness An Operational Challenge NON-FINANCIAL HR FINANCIAL DERIVATIVES ERP CRM EQUITIES REGIONAL MARKETING FINANCE REFENECE DATA SECURITIES SLIDE: 9 REGIONAL SALES INNOVATION MANUFACTURING / PRODUCT DEBT/FIXED INCOME FX COMMODITIES

10 Single Model Silos Fix Departmental Issues but DEPARTMENT BUSINESS VIEW Departmental Silos IMPROVE AGILITY REDUCE COST SECURE REDUCE TRANSPARENCY INCREASED MODEL FLEXIBILITY REDUCE CHANGE CONTROL SLIDE: 10

11 Warehousing / Multi-Source SOA DEPARTMENT BUSINESS VIEW Warehouse DATA FRICTION OPERATIONAL COSTS KNOWN DATA AGGREGATION DECREASED MODEL FLEXIBILITY INCREASED CHANGE CONTROL LOST BUSINESS AGILITY COMPLETENESS (WHAT WAS LEFT BEHIND?) SLIDE: 11

12 THE BREAKTHROUGH CONCEPT Outcome Increase business and departmental information agility Constraint Single schema & model databases inhibit flexibility RESOLUTION: A SINGLE MULTI-MODEL DATABASE SLIDE: 12

13 Breaking the Silo Cycle DEPARTMENT BUSINESS VIEW Multi-Model Operational Database INCREASED MODEL FLEXIBILITY REDUCE CHANGE CONTROL COMPARTMENT SECURITY INCREASED TRANSPARRENCY NO DATA LEFT BEHIND! IMPROVE AGILITY REDUCE COST SLIDE: 13

14 TradeStore Database FAST DATA Trade Source 1 (MUREXML) MUREX TRADES Counterparty_id WORKING EXAMPLE MIFID II TradeStore 3 distinct models Trade Source 2 (FIXML) FIXML TRADES Counterpartyid Fast & Slow Data Different formats Immutable REFERENCE XML JOINED at query time SLOW DATA Ref Source 1 (CSV) cpid SLIDE: 14

15 LESSONS LEARNT MATERIALISING Leverage the power of schema on read AND accelerate with INGEST materialisation 00:00 12:00 00:00 SLIDE: 15

16 Validation <murex_trade> <trade_id/> <counterparty_id/> <version/> < > </murex_trade> <fix_trade> <tradeid/> <counterpartyid/> < > </fix_trade> <reference> <cpid/> <rating/> < > </reference> <envelope> Materialisation <murex_trade> <trade_id/> <counterparty_id/> <version/> < > </murex_trade> <synthetic> <last_ver/> <rate-calc/> </synthetic> </envelope> JOIN ON QUERY LESSONS LEARNT MATERIALISING Use the Envelope Maintains immutability of data Validate core attributes Target Costly Attributes e.g. GROUPBY WITH SORT e.g. Static calculations SLIDE: 16

17 LESSONS LEARNT MATERIALISING Leverage document database power AND the power of pre-joining data on ingest. 00:00 12:00 00:00 SLIDE: 17

18 ACCURATE SLIDE: 18

19 Accuracy ETL Source $1M Cashed Draft $2M $1M $2M $1M Draft Invalid Discovered CONGRUENT Source the same data The same calculations The same results TEMPORAL Represent actual knowledge over time Record corrections NOT Versioning SLIDE: 19

20 Challenges ETL Corrected Copy/Dump? Reconcile DATA RISK Data Model Changes Shredding between models Exception costs Reconciliation overheads TEMPORAL ACCURACY Data model changes Massive report dumps Infrastructure tooling SLIDE: 20

21 Bitemporal API TradeStore Database Result Result RDF Consumers WORKING EXAMPLE Risk Aggregation Store Data Quality Critical! No data left behind Source Checks Validity Risk Calculation Decoration Reconcile in place Single source Source Duplicate Trades Source Consumer Update Tip: RDF to minimise update loads. SLIDE: 21

22 FLEXIBLE SLIDE: 22

23 Rigid Relational Schemas SOURCE CHANGE PROCESS DATABASE CONSUMER Define Data Subset Rebuild /Adjust warehouse Report Request Publish (Bus/ETL) Change Control Delay Operational cost Accelerating Change SLIDE: 23

24 Empower Your Consumers SOURCE DATABASE CONSUMER Source(s) Dynamic Fixed Attributes Dynamic Attributes Consumer(s) Updates / Decoration Operational Database Fixed Attributes Common Attributes Dynamic Attributes New Data New Data Bring the consumer closer to the source Expose operational changes instantly Remove expensive layers of operations Common Attributes Dynamic Attributes New Data SLIDE: 24

25 <envelope> <source_murex> <cpid/> <executed> <system_id> <status> <trader_id> < > </source_murex> <envelope> <source_fixml> <counter_party/> <date> <nominal> <rate> <elibability> < > </source_fixml> Fixed Attributes Dynamic Attributes) WORKING EXAMPLE TradeStore Range indexed performance Anchored model Determined at on-boarding <common> <cpid> <executed> </common> <common> <cpid> <executed> </common> Materialised Common Fixed Attributes TIP: Don t go crazy! Ordered lists </envelope> </envelope> Common attributes Joining Attributes SLIDE: 25

26 Hybrid Models : RDF + DOCUMENT POWER! Reporting Ontology Source Enterprise Data Model Common Attribute Metadata (RDF) SLIDE: 26

27 TIMELY SLIDE: 27

28 INGEST Universal Index Process THE FINAL WORD IN TIMELINESS The pinnacle of the information Pyramid Real-time monitoring Instant surfacing of new data Find ALL Matching Reverse Queries Reverse Query Triggers Reverse Query REST CALL Reverse Query SLIDE: 28

29 Q&A Then wrap up.

30 SUMMARY

31 WE ARE THE EXPERTS TIMELY Instant information access & monitoring FLEXIBLE Consumer empowerment ACCURATE Avoid multi-sourcing with multi-model COMPLETE No Data left behind! SLIDE: 31

32 Start integrating your silos today! Learn more about financial services use cases at: Contact me at SLIDE: 32