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Aligning Business and IT with Metadata: The Financial Services Way

Autor Hans Wegener
en Paperback – 6 iul 2007
Financial services institutions like international banks and insurance companies frequently need to adapt to changes in their environments, yet manage risk and ensure regulatory compliance. The author Hans Wegener reveals how metadata can be used to achieve a successful and technological evolution.
This unique approach is divided into three parts to:
  1. Explainhow metadata can be used to increase an organization′s ability to adopt changes
  2. Outlinethe peculiarities of financial corporations and how they affect value creation and solution design
  3. Presentthe practical side of effectively managing metadata and sustaining long term success
Wegener firstly illustrates the peculiarities of both metadata management and the financial services industry. He combines both, puts them into context of use, and explains where and how this makes life difficult, as well as where and how value is created. This enables the reader to understand the impact of metadata management on his/her organization, its typical side effects, necessities, and benefits.
The book then goes onto reveal how different crosscutting concerns managed in large financial corporations (change, risk, and compliance management) can revolutionize business by supporting them with metadata management. This provides a blueprint to be used in strategic planning. Finally, the mechanics of three important practical areas are discussed in–depth, namely managing evolution, quality, and sustainability. This provides helpful scripts for practitioners to be used in real–life.
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Specificații

ISBN-13: 9780470030318
ISBN-10: 0470030313
Pagini: 310
Dimensiuni: 189 x 234 x 18 mm
Greutate: 0.64 kg
Editura: Wiley
Locul publicării:Chichester, United Kingdom

Public țintă

  • Anybody interested in (meta) data management, business and enterprise architecture
  • Primary market: CIOs, Senior IT managers, Business Engineers, Risk Managers, Compliance Officers and Business system architects
  • Secondary market: Business Analysts, Expert business ( power ) users, (development) methodologists and application programmers

Descriere

"An invaluable resource that I recommend to anyone in the financial services industry."
Dirk Riehle, Senior Research Scientist, SAP Labs LLC"Risk officers, compliance officers, information/IT officers and CFOs coping with financial, risk, regulatory, and data management challenges can do themselves a service by becoming familiar with the innovative themes and techniques explored in this book"
Erik Banks, Chief Risk Officer, UniCredit Markets and Investment Banking
Aligning Business and IT with Metadatashows how metadata management can help you to manage change in the financial services industry, while ensuring that you comply with regulations and limit your exposure to risk.
Hans Wegener explains metadata management and the context of the financial services industry, showing where problems can arise, and where and how value is created. He gives an in–depth introduction to three important practical areas: managing evolution, quality, and sustainability. Overall, he shows how metadata management can help to revolutionize your business and provide a blueprint to be used in strategic planning.
Read this book and discover how metadata management can be used to bring about a successful, technological evolution within your business!

Textul de pe ultima copertă

"An invaluable resource that I recommend to anyone in the financial services industry."
Dirk Riehle, Senior Research Scientist, SAP Labs LLC"Risk officers, compliance officers, information/IT officers and CFOs coping with financial, risk, regulatory, and data management challenges can do themselves a service by becoming familiar with the innovative themes and techniques explored in this book"
Erik Banks, Chief Risk Officer, UniCredit Markets and Investment Banking
Aligning Business and IT with Metadatashows how metadata management can help you to manage change in the financial services industry, while ensuring that you comply with regulations and limit your exposure to risk.
Hans Wegener explains metadata management and the context of the financial services industry, showing where problems can arise, and where and how value is created. He gives an in–depth introduction to three important practical areas: managing evolution, quality, and sustainability. Overall, he shows how metadata management can help to revolutionize your business and provide a blueprint to be used in strategic planning.
Read this book and discover how metadata management can be used to bring about a successful, technological evolution within your business!

Cuprins

Foreword xi
Preface xv
Acknowledgements xvii
1. Introduction 1
1.1. Why this book? 1
1.2. Change, risk, and compliance 4
1.3. Objectives 8
1.4. Scope 11
1.5. Who should read this book? 13
1.6. Contents and organization 15
Part I: Changing the Way You Change 21
2. The Role of Metadata in Supporting Change 23
2.1. Overview 23
2.2. Managing change adoption: when change impact begins to bite 24
2.3. The essence of metadata: reification of data 29
2.4. The essence of metadata management: coupling processes for systematic change 37
2.5. What is meta ?What isn t? 47
3. Aligning Business and IT: the Role of Metadata, Strategy, and Architecture 49
3.1. Overview 49
3.2. Change, alignment, models, and metadata 50
3.3. Architecture: structure, compliance, and the management of portfolios 60
3.4. Supporting evolution towards and adoption of standards 62
3.5. Aligning business and IT: using a global data language 65
Part II: The Value Proposition 71
4. Improving Performance 73
4.1. Overview 73
4.2. Reducing the cost and improving the speed of change 74
4.3. From technology–neutral to company–specific viewpoints 78
4.4. Sources of substantial change and impact 79
4.5. Financial services: not a one–size–fits–all industry 85
4.6. The big picture: a mixed bag 87
4.7. Case studies 88
5. Managing Risk 101
5.1. Overview 101
5.2. Why risk has become a concern to IT 102
5.3. Risk management in a nutshell 102
5.4. The value proposition: risk and the role of IT 108
5.5. The Role of metadata management in managing risk 110
5.6. Case studies 117
6. Ensuring Compliance 135
6.1. Overview 135
6.2. The goals and means of compliance 136
6.3. The regulatory landscape 141
6.4. IT and regulatory compliance 145
6.5. The role of metadata management in ensuring compliance 147
6.6. Case studies 149
Part III: Practical Problems and their Resolution 179
7. Evolution: A Practical Guide 181
7.1. Overview 181
7.2. The management in metadata management 182
7.3. Metamodeling 185
7.4. The activities of structured transformation 191
7.5. Dealing with division of labor: intermediation versus direct modeling of change requests 193
7.6. Dealing with impedance: embracing versus overcoming precedent 196
7.7. Grouping changes: optimizing risk versus return 204
7.8. Organizing impact analysis 206
7.9. Change propagation 211
8. Quality: Achieving and Maintaining Valuable Metadata 213
8.1. Overview 213
8.2. Quality deficits: origins and impact 214
8.3. Intelligibility: getting a grip on language 219
8.4. Completeness: maintaining an overview of things 222
8.5. Correctness and actuality: making sure metadata reflects reality 224
8.6. Consistency: moving towards metadata reuse 226
8.7. Granularity: model and metadata working together 228
9. Sustainability: Ownership, Awareness, Understanding, and Politics 231
9.1. Overview 231
9.2. The soft side of success 232
9.3. Establishing ownership 236
9.4. Raising awareness and understanding 245
9.5. Playing politics 246
10. Parting Words: Institutionalizing Change Management 257
10.1. Converging change, risk, and compliance management 257
10.2. Elements of a corporate change function 259
10.3. Dos and don ts 261
10.4. Wrap–up 263
Bibliography 267
Index 271

Notă biografică

Hans Wegeneris a Member of Management in the Group Information & Process Architecture team at Swiss Re s corporate headquarters in Zurich, Switzerland. He has worked in the financial services industry since 1997, covering both major banking (Swiss Bank Corporation, UBS, Credit Suisse) and insurance institutions (Swiss Re). He has designed numerous metadata solutions in these companies and results of his work were published at various international conferences and workshops.