{"id":804,"date":"2011-12-14T16:16:07","date_gmt":"2011-12-14T16:16:07","guid":{"rendered":"http:\/\/www.indataweb.com\/?p=804"},"modified":"2024-09-20T14:11:23","modified_gmt":"2024-09-20T22:11:23","slug":"effective-data-management-tools-key-to-satisfying-new-regs","status":"publish","type":"post","link":"https:\/\/www.indataipm.com\/effective-data-management-tools-key-to-satisfying-new-regs\/","title":{"rendered":"Effective Data Management Tools Key to Satisfying New Regs"},"content":{"rendered":"

In Europe, discussions are underway that may require public and private sector organizations to employ a new chief data protection officer<\/a> position tasked with overseeing and protecting the organization\u2019s data.<\/p>\n

While appointing a new position is a start, how can one individual effectively and systematically monitor data, as suggested?<\/p>\n

This is where technology comes in. For investment management firms, data management has often been viewed as a separate area outside of the scope of core investment functions such as portfolio, accounting, compliance, trade order management, etc.<\/p>\n

Many times these systems do not use data management technology and instead rely on a batch processing\/reporting model in which administrators have to \u201cchase down\u201d issues that affect data integrity and operational risk. This becomes even more of a challenge if the organization uses multiple systems, i.e. the silo-based approach.<\/p>\n

Without data management technology, monitoring data can become overwhelming. At INDATA, we view data management as a core function of the software itself, much like the other functional areas we cover for portfolio modeling, trade order management, compliance, back office, performance, reporting, billing, CRM, research and the other key areas of the investment process.<\/p>\n

Utilizing systems that employ data management technology (instead of a chief protection officer or other executive within the organization, such as the chief compliance officer, to chase down data issues) will reveal any exceptions, outages or issues before they become a problem.<\/p>\n","protected":false},"excerpt":{"rendered":"

In Europe, discussions are underway that may require public and private sector organizations to employ a new chief data protection officer position tasked with overseeing\/protecting the organization\u2019s data. While appointing a new position is a start, how can one individual effectively monitor data in a systematic way as is being suggested?<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_stc_notifier_status":"sent","_stc_notifier_sent_time":"2024-09-20 11:01:39","_stc_notifier_request":false,"_stc_notifier_prevent":false,"_stc_subscriber_keywords":"","_stc_subscriber_search_areas":"","content-type":"","footnotes":""},"categories":[100,38,43],"tags":[],"class_list":["post-804","post","type-post","status-publish","format-standard","hentry","category-blog-articles","category-data-management","category-regulation-and-standards"],"acf":[],"yoast_head":"\nEffective Data Management Tools Key to Satisfying New Regs<\/title>\n<meta name=\"description\" content=\"Without data management technology, the task of monitoring data can become overwhelming\" \/>\n<meta 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